Pionex – Crypto Trading Bot Review by Traders

Our rating 3.9/5

Pros

Cons

What is Pionex, is it legit, and how to use it – a full review

What is Pionex, how to use it, and is Pionex legit

With so many crypto bots out there, it can be hard to tell which one is the best and safest option. Luckily, there are ways to know if a bot is a particularly good one. Teams standing behind them have years of experience in the crypto market, they are licensed by trusted authorities, and they have thousands of happy users. And Pionex is one of them.

Pionex is a crypto exchange, trading bot, Binance broker, and Huobi market maker. It has been on the market since 2019. Although international, it started as a Singaporian start-up and is most popular among Asian countries. 

Our overall rating for this bot is the same as for Trality, in our Trality bot review. However, Pionex is a bit more secure, which is quite important for big players.

Pionex review overview

Pros and Cons

Pionex pros and cons

Pionex trading bot: essentials

Created by Daniel Seng-Cheng and Larry Toh and launched in 2019, Pionex is one of the oldest and most promising crypto bots out there. It integrates 16 trading bots in total, providing more than 100,000 users with great opportunities to earn from crypto with the least possible time and effort.

Daily volume trade on Pionex is around $30 million (according to their site, their monthly volume should be $5 billion). It is based in Singapore and received $10 million of investment from Shunwei Capital, ZhenFund, and Gaorong Capital, all famous Chinese investors. More than 100 professionals maintain the entire system.

Pionex trading bot essentials

The Pionex platform is optimized for laptops as well as tablets and mobile phones (Android and iOS). While is possible to trade manually with Pionex, most users chose this bot because of its 16 automated trading options.

So far, Pionex supports only crypto-to-crypto trade, and currently, no fiat currencies deposits or withdrawals are possible. Therefore, if a person doesn’t own any crypto but would like to use Pionex, it is necessary to buy crypto through platforms supporting fiat-crypto trade (such as Kraken). 

On the other hand, there are 219 crypto you can trade with Pionex, and this number covers all popular crypto.

Registering on Pionex: a step-by-step guide

How to register on Pionex

Step 1 – Making an account. The process is quite simple. The user needs to go to the Pionex official webpage and click “sign up”. After the registration page opens, the user needs to provide an email, phone number, and enter the verification code sent to the provided email address and number. 

Step 2 – Deposit. Before trading is possible, the user has to deposit a certain amount. The supported cryptocurrencies are available in the drop-down list located in the upper left corner of the Deposit tab. The deposit address and the QR code are located right next to the list. Take notice that Pionex encourages users to deposit in BitCoin rather than other currencies, and it doesn’t support smart contract deposits.

Step 3 – Trade. The user can either trade manually or experiment with one of the bots. 

Step 4 – Join the community. The user can join the growing Pionex community through Telegram, Discord, Twitter, Facebook, or Reddit.

Application and Web platform: basic features and options review

Pionex uses AI to run, and most information about the encryption is kept secret in order to prevent safety attacks. 

This platform aggregates Binance and Huobi liquidity and is one of the biggest brokers and market makers for these two platforms.

Pionex features and options review

What makes Pionex popular among users is that it offers 16 different automated trading options all users can choose from: 

  • Leveraged Grid
  • GRID trading bot
  • Spot-Futures Arbitrage 
  • Margin Grid
  • Rebalancing 
  • Smart trade
  • Martingale
  • Reverse Grid
  • Leveraged Reverse Grid 
  • DCA (Dollar-cost averaging)
  • Infinity Grids
  • Trailing Sell
  • Trailing Buy
  • TWAP 
  • Moon Bot (BTC/Moon – ETH/Moon)
  • Stop Limit

It is highly recommendable to explore the functioning of each of these bots before using any of them. In order to maximize gains, the user should understand how the bot they use functions.

Pionex is available for both Android and iOS platforms and has all the functions as the desktop version. The app is praised for its very intuitive and responsive interface, regardless of the device it is used on.

Pionex: Security, licensing, and payments

Pionex has some strong arguments on its side when it comes to security. Namely, although based in Asia, Pionex is licensed by FinCEN’s Money Services Business (MSB) license (reg. number 31000188348895, as of April 2021). 

Pionex security, licensing and payments

Making an account on Pionex is free, however, there are fees that the user has to pay once they start trading. Pionex fees are payment for order flow based, meaning that it charges making and taking market liquidity. In other words, if a user places a trade that has an immediate match in outstanding order, they pay the taker fee. If the order doesn’t have the matching outstanding order, the user pays the maker fee. Currently, both of these fees are equal on Pionex, 0,005%.

Professional’s tips for investing with Pionex

In the case of high-volume trading, Pionex offers membership in their Market Makers program, in which case the user is free from any trading fees. Participation in this program is possible for users having $300,000 USD in any of the supported cryptocurrencies on their balance. It is possible to apply for the program until the 10th of every month. If the balance drops below the required minimum, the user is automatically disqualified from the program and can apply again next month.

In case you wish to try out other bots that offer demo versions, try 3Commas or Cryptohopper. Check out our reviews on other

User feedback on using Pionex

Pionex user feedback

According to users’ comments and ratings, Pionex seems to be a trusted and verified option for automated crypto trade. It has an average rating of over 4 on both Google (4.4) and Apple stores (4.1). It is worth mentioning that the rating on the Google App store is based on a much larger number of ratings (over 4.500) than the one on the Apple store (137).

Furthermore, Pionex scores well on TrustPilot as well (3.7 average, based on 145 reviews). 

If customers complain, it is usually about unresponsive and/or unhelpful customer support. There are also reports of changes in the listings without prior notice to users.

Speaking about customer support, it is available via live chat and email. 

Is Pionex legit or a scam? – Our verdict

Is Pionex legit or a scam

Pionex is a legit, safe, and potentially very profitable trading bot. Overall, Pionex beats most of its competition with the highly functional platform, low fees, and multiple trading bots. It is especially suitable for investors that already own crypto and want to trade accross various devices. Furthermore, users who tend to get too emotionally involved in the crypto trade can benefit here as well, as the bots will do all the job for them.

FAQ on checking is this trading bot a scam

What is Pionex?

Pionex is a crypto trading platform with built-in trading bots. It offers various solutions for traders to automate the process and spend less time monitoring the market.

Is Pionex a legit crypto trading bot?

Pionex is a legit trading bot. It has h3 licensing, with high, positive marks on user-feedback platforms. It also generates a high volume in trading, with around $3 million daily.

Can Pionex be used by experienced crypto traders?

Pionex is a good option for experienced traders too. While it doesn’t offer a chance to create a bot from scratch, it is possible to enter the parameters that suit one’s trading style.

Is Pionex a good choice for beginner traders?

Pionex is an excellent choice for beginners. They offer 16 different trading bot options, explained for common understanding. There is no need to understand the coding, as each person sets up the parameters.

Is Pionex a scam?

No, Pionex is not a scam. Pionex is a legit crypto exchange with automated trading bots. It is also possible to trade manually. They have all of the proper licensing and more than 100,000 users.

Disclaimer: All information contained here should not, under any circumstances, be construed as financial advice, investment recommendation or an offer of, or solicitation for, any transactions in cryptocurrencies.

Author

  • Nina Petrov is a theoretical mathematician, passionate about new trends in the global economy and blockchain technology. She is a devoted content creator and editor, crypto-enthusiast and stock market analyst.

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