Pionex Review 2023 – Is it Legit or a Scam? – Find Out!
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.
Crypto is trending, and the concept of automated crypto trading is gaining traction all around the world. As a result, many traders are interested in employing trading bots. But some trading of these bots is challenging to set up and integrate into their trading. However, one platform is addressing this issue by offering built-in bots! This platform is pionex.
Pionex is a cryptocurrency exchange with trading bots inbuilt on the platform. For no additional cost, you can use 16 different trading bots. These bots allow you to automate your investment strategy so that you don’t have to keep an eye on the market all of the time. This guide will explore how to use the Pionex robot and if the app is a scam or a legit robot. We will also review the Pionex features and if users can make money from trading on this app.
Table of Contents
|BTC, ETH, BNB, ADA, DOGE
Pionex is the first cryptocurrency exchange in the world that includes built-in auto trading robots. Pionex is a trading platform with capabilities for creating customized, automated trading strategies. The app provides 16 free trading bots to assist both new and expert traders. This relieves investors from the need to monitor the market constantly. Copy trading is another feature of the site, allowing beginner traders to copy the moves of top traders. Grid bots, Arbitrage bots, Rebalancing bots, Infinity grids, and more trade bots are available in the app. The best aspect is that exchange trading fees are merely 0.05 percent, which is among the industry’s lowest. They can offer such low fees because they are the top market maker for exchanges like Binance and Huobi, and they outsource their liquidity from these exchanges.
Pionex is a Singapore-based automated crypto trading platform that has become one of the crypto industry’s fastest-growing platforms. Pionex is a cryptocurrency exchange with built-in trading bots that are available for free. There is no need to have any prior knowledge of automated or manual crypto trading; activate the bot tools to get started.
The platform has good customer care support, but there is no telephone contact number. The app may have withdrawal fees and limits, which can stop some investors from committing to the platform. The platform has no information on the success rate of the app and made no promises of earning. Although many users have claimed to have made money from using the bots, there is no proof of how effective the bots are.
Even though the platform does not support custom trading, the platform seems legit. The platform has obtained a USA Money Services Business license (MSB) with a Monetary Authority of Singapore (MAS) license that is currently pending. The platform also possessed a mobile app for trading.
Pionex is a cloud-based software that may be used over the web or via a mobile app. To set up your first bot, download the Android or iOS app. You may use the software to construct grid trading bots, DCA bots, and more from anywhere. You can use mobile and tablet devices to maximize your profit potential to track strategy statistics, receive real-time news and notifications, and handle price gap control. The app has a simple but intuitive design that has received excellent user feedback.
The financial crimes enforcement network, a US federal department that examines online financial transactions to prevent fraud and money laundering, has granted it MSB (Money Services Business) licensure. Although, Pionex does not educate users about the encryption mechanisms it employs to prevent data breaches.
Pionex’s crypto trading bots are pre-built to help new traders lower the amount of money they need to deposit before they can participate in the crypto market. 16 crypto trading bots are available, each with its strategy and technique for dealing with varied market conditions.
Customers can use the site to withdraw bitcoins. Aside from quantity restrictions, each coin has a different withdrawal rate. The submission of KYC information, on the other hand, may increase withdrawal limitations.
Customer service is available via Telegram, live chat, and email at Pionex. The customer support has received commendations from users of the app, most likely due to BitUniverse’s parent firm providing support. The Telegram channel appears to be more of a trading forum post than a support channel.
When many users first start trading, they ignore trading fees, but they can make or break a trade in the long run. Pioneer has one of the lowest trading costs in the industry, allowing you to generate more money over time.
To begin, Choose the Sign-Up option on the official Pionex website or the mobile app. Fill in the required information. Verification requires either a phone number or a valid email address, and a verification code will be sent to the email address or phone number provided. On Pionex, KYC processes are optional. However, completing the KYC process is encouraged for additional benefits like higher withdrawal limits. If the user has a referral code from another platform user, they can utilize it to gain access to benefits such as earning prizes.
Although there is no minimum deposit amount with Pionex, each trading pair has a minimum order volume. That’s why, in some pairs, users may be able to set up a grid bot with less than 50 USDT, but not in others. To use this platform, users have to make a deposit, and the platform does not accept fiat currency but only cryptocurrency for depositing. Also, there is a trading fee of 0.05% for every trade performed.
The demo is a replica of the real trading process, but it is without real money. The demo trading is to perfect strategies and get familiarized with how the platform works. The money made from the demo account does not indicate what will happen with live trading, but it can help the users avoid making costly mistakes while trading. However, this platform does not offer a demo option for traders.
The live trading can be activated with the customization of a bot and activating it. The good thing is that users can trade multiple cryptocurrencies and make more significant gains using live trading. Before live trading starts, the user must set the robot’s parameters and choose the cryptocurrencies they want to trade. These settings will apply every day of trading, except the user changes it before trading starts.
The Trigger Price function allows you to choose an optional Start-price for the bot. When you finish building the bot, it will freeze your assets and do nothing until the Trigger price you set is reached. When that happens, the bot will be deployed as if it were a typical bot at that fee.
You can use the Stop Loss price tool to set an alternative sell price below your lower limit price. If that price is reached, the bot will be terminated, and all trade assets will be sold to avoid further losses if the price continues to fall.
The AI feature was added to assist new users in creating their first Grid Trading Bots without any prior expertise, but it can also be helpful for traders confused about which settings to use when creating a Bot.
Pionex does not have a general educational area, but it does provide thorough information and education about its tools and bots. So, on the Pionex Blog, you can learn how to configure and utilize any of the 16 trading bots. There’s also a comprehensive FAQ area offered by Zendesk, where you can discover answers to various frequently asked issues.
Pionex only accepts cryptocurrency deposits, though it supports 40 different digital currencies, including Ethereum (ETH) and Bitcoin (BTC) (BTC). The platform does not support fiat currency. Stablecoins like USDT are also supported, making them an excellent alternative for avoiding price volatility across exchanges and limiting the risk of account capital loss.
|Best for beginners
|No fiat deposit or withdrawal options
|Provides 16 different automated trading bots
|Withdrawal fees and limits may apply
|The bots are all for free, while the
|No support for custom trading strategies
|Low exchange trading fees
|Mobile app available
|Customer service is always available
United States: Pionex is a trading robot that is available in the United States. Traders can start by simply registering on the robot’s official website and then trade with the robot.
United Kingdom: UK traders can register on Pionex and begin enjoying high-profit thanks to its ability to analyze market data quickly.
Taiwan: Pionex features an easy-to-use trading platform interface for traders in Taiwan, which enables auto trading of multiple cryptocurrency assets.
Indonesia: Indonesia is one of the countries that can enjoy the services of Pionex. The app user interface is user-friendly, making it easy to access all features.
Hong Kong: Traders in Hong Kong can use the Pionex platform to trade Bitcoin and other cryptocurrencies. In just four simple steps, you can get started.
Canada: The Pionex platform includes an easy-to-use trading platform, allowing numerous crypto assets to be traded automatically in Canada.
Pionex has 16 different bots which can be used at different times and situations based on the kind of trading and reward the user wants. Also, the platform does not specify that a particular amount can be made from trading on the app. So, there is no guarantee of how much money can be made, but the platform does have testimonials of users making money.
Many engagements may not allow traders to trade on top of their full-time occupations because of the demands of their full-time jobs. Bots will automate all mundane tasks, freeing up people’s time and focus for more vital tasks.
Some approaches would be physically impossible for a human to complete in full. Trading bots are essential when it comes to intricate trading tactics that must be automated. It would be difficult to carry out the approach in question without the help of these bots; thus, they must be present. The takeaway here is to take advantage of trading bots whenever possible.
To thrive in the very volatile cryptocurrency market, traders must be precise in their approaches. Because traders must enter and exit the market at the appropriate times, these bots perform the necessary analyses and enter or exit trades at the appropriate times.
Pionex allows users to customize bots to their desirable rate for trading while also having the lowest trading fee. The app has features to minimize risk in trading, such as the trigger price and the stop losses. Also, users can trade anywhere with the mobile app provided. So yes, Pionex is suitable for you if these features align with your aim for trading.
It would be best if you kept in mind that mastering the foundations of trading will take time and effort on your part. To get started and comprehend what you are doing, you will need to master some essential terms, even if you opt to trade utilizing bitcoin robots as your platform. You won’t have any difficulty getting started because, fortunately, most bitcoin robots supply you with the vast majority of the information you need to get started.
The ability to have a deeper understanding of your preferred asset allows you to develop superior trading strategies based on how the asset’s performance has changed over a given period. On the contrary, having insufficient information about the item you are trading might expose you to more significant trading risks, increasing the likelihood that your investment will be a victim of a loss.
When starting as a trader, it’s customary for new traders to make significant initial deposits to reap larger returns later. Increasing your investment quantities can result in greater earnings, but raising your investment amounts might also raise your risk of losing your investment money. Beginners must make every effort to be as safe as possible while learning the foundations of trading, which is why they should start with lesser quantities of money and progressively raise their investment over time as they gain more experience.
Though the cryptocurrency market is becoming more competitive every day, this does not suggest that you enter into transactions as soon as possible. Before you begin trading, take the time to think about your options, goals, and risks. This is the secret to achieving financial success in trading. According to research, many people tend to make financial decisions in a hurry, and it is in this area, they make the most of their financial mistakes.
After every profitable trade, make sure to make a profit and deposit it into your account. This will assist you in distinguishing between your invested capital and the profit you have made so far.
Trade at any time of day or night because the trading platform is always available online. Nothing is preventing you from making transactions daily.
One of the critical differences between bots and humans is their ability to function nonstop and consistently execute transactions in response to particular indicators. When it comes to this, robots surpass humans by a wide margin. Maintaining your trading discipline when dealing with cryptocurrencies can be tricky; as a result, using a trading bot reduces the likelihood of engaging in trading based on emotions.
The effectiveness of bitcoin trading bots is substantially superior to traditional trading methods because they accomplish trades considerably faster than people can. Using a trading indicator to assist you in placing market orders on the crypto market with a trading bot is an idea you may want to examine.
Although Pionex is a leading automated trading platform, there is still risk associated with crypto trading. The cryptocurrency market is extremely volatile and even though the bots have ways of minimizing the risk, losing funds is still possible during trading. If you don’t properly configure your bot or have important order types like stop-limit orders set up for market triggers, you could lose a lot of money.
Yes, the Pionex trading platform is available on the web and as a mobile app supported by Android and iOS. The platform uses the mobile-first rule; any new features and updates are released first on the mobile app before updating the web-based app.
Several online discussions on Reddit have claimed that Pionex has been featured on several television shows. There is no proof to back up those claims because Pionex has not made any such information public.
On Trustpilot, Pionex has a mixed review. While some have claimed it to be a good trading software, some have said otherwise. According to the feedback provided by a lot of reviewers, it is a good trading platform.
Pionex is a quickly growing and one-of-a-kind cryptocurrency exchange that offers a wide selection of simple but smart trading bots that are extremely customizable and come with various techniques. Even though it is a relatively new platform, it has a high level of security and significant financial backing from key investors, indicating that it is a good platform. Although inexperienced traders can use the automated trading features, there is no way to test the broker before risking real money because there is no demo account. Users should be wary of investing too much money in any cryptocurrencies and research well before trading.