Pionex bots automatically create buy/sell orders on users’ behalf and scan the market for suitable positions. The platform offers numerous pre-defined algorithms, including Grid, DCA, Rebalancing, etc, that trade without the need for human interference. This evaluation will provide critical information about the system’s features, available bots, fee policy, safety, and security.
Pionex has some unique tools and characteristics that can be listed as:
- The platform is free to install with no pricing plans.
- It has 16 ready-made bots on its exchange.
- The grid trading bot profits from the fluctuations in the market and have the potential to profit from volatile conditions.
- Smart trade bots allow traders to schedule purchasing/selling simultaneously with a take profit and stop-loss technique.
- Investors can create their index with a rebalancing algorithm.
Pionex: pros and cons
The benefits and drawbacks of Pionex are given in the table below.
|Pionex offers a mobile application on the Apple store and Google play||The built-in bots only provide services on the Pionex platform|
|It charges a small trading fee of 0.05%||It supports few trading pairs as compared with competitors|
|There are 16 different bots available to trade with|
|Traders can start with as low as $20 with some bots|
What is Pionex?
Pionex allows the 24/7 trading of cryptocurrencies with 16 and 346 coins on their exchange. It allows users to select from a list of bots based on different trading approaches and scan the market accordingly. Investors can configure the setting of the algorithms or use recommended parameters to start trading in the market.
|Deposit option:||Credit card|
|Supported countries:||100 countries|
|Free trial period:||No|
|Multiple currency support:||Yes|
How does it work?
Some major algorithms from the list of available bots include:
- Grid trading
These bots generate profits from the volatile market by buying low and selling at high.
Traders can choose 5-time intervals for a dollar-cost averaging strategy and buys the same amount of investment at a different interval.
- Rebalancing bot
It allows traders to hold multiple tokens for a long time to gain value appreciation.
- Trailing buys and sells
These bots can buy as low as possible and vice versa.
- Stop limit
It indicates that the trigger price, order price after the trigger, and order quantity are predetermined.
Pricing and fees
The Pionex bots are free to use, with a 0.05% fee applied to each trade. The platform does not have any pricing plans. Traders can download the mobile application from Google Play or Apple App Store.
Privacy and security
The safety and security at Pionex are provided by two-factor authentication and aggregates liquidity from Binance and Huobi. The funds remain on their exchange, and it claims to maintain 100% reserves, ready for instant withdrawal on demand.
The BitUniverse team manages Pionex, and it has been granted money services business license by U.S. FinCEN. The bots on the exchange follow some popular strategies that can generate profits for traders depending on the market conditions.
How to start trading using Pionex?
Traders can start trading several cryptocurrencies on the Pionex exchange and benefit from various automatic bots. Follow these steps to get started:
- Signup on to the platform with your credentials (email and password)
- Choose from the list of available robots according to your needs
- Select a trading pair from the list
- Choose a strategy manually for the bot or recommended settings
- Run the system and start trading
Who is Pionex suitable for?
Pionex is suitable for traders who want to trade in the cryptocurrency market using different strategies. They can use grid trading, dollar-cost averaging, martingale, stop limit, rebalancing, smart order, etc. It requires easy modifications to start the bots, suitable for beginners and professionals.
At Pionex, the support team assists traders via live chat or email. A community of traders is present on various social media sites like Telegram, Facebook, Discord, Twitter, and Line. They provide tutorials and blogs to help customers understand the platform.
A trusted third-party website, TrustPilot, shows 270 customer reviews for Pionex, giving them a rating of 4.2. A user wrote that the support is amazing and recommends using the platform.
Pionex review verdict
Pionex supports several cryptocurrencies that can be traded manually or by their 16 built-in bots. The platform has mixed reviews on TrustPilot, with maximum positive feedback. It allows investors to trade using multiple strategies and charges a low trading fee of 0.05%. The ease of accessibility to the service makes it a good choice for traders who are looking to generate long term passive income.
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