Pionex Review: The Most Advanced Bot Cryptocurrency Exchange You Should Try

October 22, 2023 - Around 9 mins mins to read

One of the better crypto trading bot platforms with 16 pre-built trading strategies and competitive fees is Pionex. The exchange allows users to automate trading strategies on crypto assets or combine them with leverage using an easy-to-use platform. To determine if Pionex is the right choice for you, this Pionex review will take a look at the full spectrum of trading on the exchange, examine the platform’s automated trading features, and consider its advantages and disadvantages.

Pionex Review: The Most Advanced Bot Cryptocurrency Exchange You Should Try

About Pionex

Pionex is a cryptocurrency exchange founded in 2019, focusing on automated trading, with 16 free built-in trading bots. This is an especially great platform for traders who are just getting started with trading bots. Exchange is easy to use, with detailed instructions to explain how each bot works and its best use.

Currently, the daily trading volume on Pionex is more than $100 million. The monthly trading volume is over $5 billion.

Who is Pionex best for?

Pionex is the best choice for beginners to experienced traders who want to learn how to trade with automated bots. While there is no demo trading account to practice without risk, the platform does expose users to 16 popular bot types such as grid and Martindale trading strategies.

Even so, the bot trading strategies offered on Pionex are not for use by professional or experienced traders in the real world. Therefore, Pionex’s main innovative feature may be of little value to serious and professional crypto traders. With that said, for those with a solid understanding of technical trading, Pionex is one of the crypto platforms on the market.

How it works

Trading in Pionex depends on the use of cryptocurrency bots, which support the smooth operation of cryptocurrency exchanges. Cryptocurrency trading bots are programs and algorithms that automate trading in the cryptocurrency market.

Market data is processed and analyzed according to a set of criteria to identify the biggest opportunities and execute positions. Trading bots reduce the need for round-the-clock monitoring that may be required in the long run.

It is not just another crypto exchange as it provides tools to create custom automated strategies with trading bots. API key trading has become important, reducing the need to monitor the market 24 hours a day, seven days a week. The platform offers 16 free trading bots ideal for new and professional traders.

Bots are generally sophisticated, requiring the client’s coding and programming knowledge; therefore, the lack of setup for the Pionex bot is a distinct advantage.

Pros and Cons

Pros Automated trading with 16 free bots Manual trading with limits and market orders available Extremely low transaction fee of only 0.05% More than 370 different cryptocurrencies supported Android and iOS mobile apps available Live chat and email customer support Leveraged trading available Instructions explaining how to use each trading bot Deep liquidity pooled from Binance and Huobi	Cons The free and regular plans offer fewer features than their competitors No demo account to practice trading

Services and Features

Built-in Automated Trading Bot

Pionex is a unique cryptocurrency platform that has built-in trading bots for users to configure easily and quickly. There are 16 trading bots that can be used for free for popular strategies. Since there is no demo trading account, traders should be aware that real money will be used when trading with bots.

Grid trading

A popular strategy for range-bound crypto markets. The bot will automatically place a buy trade when the price reaches the bottom of a defined rectangle (or grid) and sell when the price reaches the top of the grid. Pionex provides the option to set the grid manually or use their algorithm which will set the range based on the historical data of the previous 7 days. This bot is a great tool for beginners, however, can make losses in trending or highly volatile markets.

Leveraged grid

This automated bot works in a similar way to grid trading, however, allowing the trader to apply leverage to a position. Leverage is a double-edged sword that can increase profits as well as potential losses. BTC and ETH pairs have a maximum leverage of 5x.

Smart trading

This bot is best suited for breakout traders in a trending market. The strategy involves entering a price to trigger a bot that will watch the move until the maximum stop price is reached. Traders can take advantage of a rising market with a trailing stop loss.

Cost Averaging in Dollars

One of the simplest trading strategies, the DCA bot allows users to buy a fixed amount in currency periodically at a regular interval. The timeframes range from 10 minutes to 1 month.

Martingale bot

This bot follows a ladder strategy that involves buying dips to lower the overall entry price. Users can configure a drop-off percentage for the bot to make tiered purchases automatically on drop. The bot aims to sell the entire position at a higher price which can be set to 0.5%, 1% or 2% targets. Bots are a good strategy in an uptrending market, which can otherwise lead to significant price drops.

Trailing sale

This bot is useful for locking in and maximizing trading profits in a rapidly growing market. The trigger at the desired profit level can be entered to trigger the sell bot on a 5%, 10% and 15% retracement from the peak using a specific amount. Bots can be beneficial for traders who are unsure when to sell after a big move.

Trading

While Pionex is best known for its built-in automated trading bots, the platform is a cryptocurrency exchange that allows users to make manual purchases and sales.

Pionex supports 379 cryptocurrencies at the time of writing with pairs with 7 base currencies like BTC, ETH, USDT, BNB, BUSD, HUSD and USDC. Combined, there are a total of over 480 trading pairs to choose from and trading offers maximum flexibility for traders and investors to diversify their crypto portfolios.

Leverage trading

Traders on Pionex can amplify potential profits using leveraged grid bots. For example, Bitcoin and Ethereum trading pairs can have up to 5x leverage. Other pairs have reduced leverage amounts up to 3x. Although US residents do not use leverage, the ability to trade with leverage is a great feature to maximize potential profits using a grid trading bot.

Buy and sell cryptocurrencies

Pionex offers a crypto-to-crypto trading platform where users can deposit crypto to Pionex to fund their account and start trading. There are 47 supported assets that can be transferred to the Pionex wallet, including Bitcoin, Ethereum, USDT and others. There is no maximum deposit limit on Pionex but the minimum deposit amount is 0.001 BTC, 0.01 ETH and 1 USDT.

The exchange has also partnered with a fiat gateway to buy crypto on the platform with a credit card. Level 2 verification required to comply with KYC/AML requirements. However, for added convenience, it comes with higher fees and is not recommended. There is an option to deposit and trade in USD by bank transfer, although this option uses a separate app called Pionex Lite.

In-depth instructions for each bot

For each integrated trading bot, users can open a detailed guide explaining what a bot is and how it works with step-by-step instructions on how to configure the settings. There are simple explanations for each setting and includes any advanced modes with screenshots and also frequently asked questions. There are even examples of how to use bots which are helpful for those new to automated crypto bots.

Mobile application

Pionex provides access to mobile apps and 16 trading bots, including the Grid Trading Bot, which allows you to trade currencies like Bitcoin, Ethereum, Dogecoin and others with ease. Safe and automatic. The Pionex app includes a decent selection of bots that are free to use. They are very simple to set up. They have an AI-assisted strategy and set up manual trading methods or settings.

All in all, we’ve heard good things about the Pionex mobile-based app. It can act as one of the mobile applications for all cryptocurrency transactions. The Pionex mobile app also offers plug-ins for better trading options. It also offers the same mobility and security in cryptocurrency trading as one can experience on a suitable crypto exchange.

Fee

Pionex is a popular market maker of Binance and Huobi Global, which allows the platform to keep trading fees to a minimum. Pionex is a beginner-friendly auto-trading bot that charges extremely low trading fees. For spot and futures markets, the market maker and receiver fees are fixed at 0.05%, while for leveraged markets, the fee is 0.1% for both market makers field and recipient.

Unlike fiat withdrawals, crypto withdrawals are subject to certain transaction fees depending on the cryptocurrency used in the transaction. Note that, regardless of transaction volume and deposit method, depositing crypto at Pionex is free.

Conclusion – Pionex Review

Above is an introduction to the Pionex exchange including its advantages and disadvantages and its main features. The exchange has been regarded as the top crypto trading bot and consistently provides quality trading advice. The exchange has several bots to allow users to control their Pionex arbitrage bot trading. Some of the main bots include – DCA Bot, Martingale Bot, Infinity Grid Bot and leveraged trading bot. These trading bots provide users with different trading strategies to deal with different predefined market conditions.

Besides, Pionex also has quite competitive fees. However, there is no demo account so users will have to bear the actual profit, loss and fees while familiarizing themselves with the platform and the 16 built-in bots. This is also an automated trading platform that beginer to experienced traders should try because of its amazing features.

I hope the above article is helpful to you. If you have any suggestions, please leave them in the comments section below to make our writing better.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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