Pionex is the first free and integrated crypto trading robot exchange worldwide. It has 18 different bots, from basic ones to super advanced lever robots and structured products.
Each bot has a template-based configuration, created by artificial intelligence, and an option to manually configure your trading action.
Pionex is one of the most transparent companies in the crypto space (great support in their uncensored Telegram and Reddit communities) and if you’ve been wondering if the Pionex bot is safe or Pionex is a scam, we can give you a resolute answer to both questions: Pionex is 100% legitimate, very profitable (with the right configuration) and not a scam.
It was created in 2019 and is one of the fastest growing platforms in Asia with over $30 million in daily trading volume. It is an automated crypto trading environment. Today there are more than 100,000 users on the exchange, served by a team of over 100 professionals plus the founder and CEO.
The company is licensed under the USA Money Services Business (MSB) with the Singapore Monetary Authority (MAS). Huobi Global and Binance liquidity engines are included so that crypto trading robots can fulfill orders 24/7. BitUniverse also supported Pionex. This, along with investments from renowned Chinese venture capital firms, including ZhenFund and Gaorong Capital, has given the company even more legitimacy.
Table of Contents:
Overview
Pionex is not just another crypto exchange as it offers the opportunity to develop custom automated strategies with free bots. API key trading is becoming increasingly sought after, allowing traders to forego the need to analyze charts around the clock. Pionex provides 18 free trading bots ideal for both beginners and experienced traders.
Bots are generally sophisticated and require programming and coding skills from customers, so the lack of difficulty in configuring Pionex bots is a distinct advantage. You can also follow the best investors through copy trading robots.
Pionex is a Singapore-based exchange with 18 built-in bots, which contrasts with standard cryptocurrency exchanges where you need to connect a trading bot. Pionex now has a daily volume of around $30 million.
Pionex USA vs Pionex
Pionex has global and US-specific platforms. The main difference is a reduced supply of bots on the US platform. Due to US law, people living in the United States are not allowed to trade with leveraged, margin, and leveraged tokens. US users can trade any token on the spot market.
Features
Pionex has a number of unique features that set them apart from other trading bot providers. For example:
Trigger Price
You can set an optional starting price for your bot using the Trigger Price feature. After building the Bot, it will freeze your assets and do nothing until the specified trigger price is reached. When this occurs, it will start as if you were creating the bot normally at that price.
Stop Loss Price
The Stop Loss price feature allows you to set an optional “emergency” sell price below the lower limit price (or above the upper limit price on Short-Bots). If that price is reached, the bot will be shut down and all basic assets will be sold to avoid further losses if the price continues to fall.
Close Bot to
The “Close bot to” price field allows you to select a value that is higher than the bot’s cancellation price. All your assets will have been sold right now because they are already outside your price range. Employing this feature, it will make you close the bot if the price goes up/down to prevent you from trading in an unfavorable price range.
AI backtesting feature
The AI feature was added to help new users build their first Grid Trading Bots without any prior knowledge, but it can also be valuable for traders who are unsure of the parameters to use when starting a Bot.
Grid Spacing – Arithmetic/Geometric
This parameter simply allows you to select the system in which you want your orders to be placed in relation to each other. Do you want to always have the same price difference or % difference between your orders?
Release profit
Due to high demand from Pionex users, this feature was recently added to the Pionex app. Traders can use “Release Profit” to drop their profit from Grid Bots and Reverse Grid Bots without having to cancel them. This is especially useful if you have long-lasting bots that have already generated significant profit. This helps protect your profits and make sure they aren’t lost by the bot.
Orders displayed on the chart
Pionex recently launched a new feature, which displays all open orders of a Grid Bot directly on the price chart, this feature was added after a high demand from users. This allows traders to see their bots’ grids directly on the chart, making the bot experience easier.
Taxes
Pionex does not have any monthly fee, but only a rate of 0.05% as a trading fee. Pionex’s trading fee is lower than the market average.
Limit on the number of bots you can run
In a single trading pair, you can create up to 30 bots. This is more than enough for the average trader. You can run it on another pair or re-evaluate current running bots if you still need additional bots.
Minimum funds to run cryptocurrency trading bot
Although there is no minimum deposit amount with Pionex, each trading pair has a minimum order volume. That’s why, in some pairs, users might be able to set up a bot grid with less than 50 USDT, but not in others. You can choose a coin that requires fewer grids and reduce the number of grids in your range. The minimum order volume for mBTC, for example, is 0.1 USDT or 0.01 MBTC, making it a reasonable choice.
Prices
Pionex is free, unlike most of its competitors. They earn their money through the trading fees you pay when you run your bots (the same commissions you pay on any other exchange you use for trading).
For Binance and Huobi Global, Pionex is a market maker and as such has low fees from the two exchanges. The price structure of the exchange is 0.05% per trade, which is competitive compared to Binance & Kucoin’s 0.1% and Cryptohopper’s 0.15%. Pionex commercial bots are free of charge.
For those with a trading volume of 300,000 USDT, market maker programs are available. Billing costs remain at 0.05%
Deposits
Although 40 other digital currencies such as Ethereum (ETH) and Bitcoin are available, Pionex accepts deposits exclusively on cryptocurrencies. Stablecoins, such as USDT, are also supported, providing a solid choice to prevent exchange price volatility and limit the chances of account capital declines.
Coinbase and Binance are recognized as regulated fiat ports that can be used by global users to transfer assets to a Pionex account. You should make sure that deposit networks do not lose assets; The broker offers clear online training on how to move assets through different gateways.
Pionex does not have a minimum deposit, balance or funding fee requirement, although each trading pair has a minimum order volume. Deposits can take up to 1 hour to appear on your account.
Levies
Customers can withdraw bitcoins from the site. In addition to quantitative constraints, there is a withdrawal rate that changes by currency. However, providing KYC information may increase withdrawal limitations Pionex withdrawal fee is 0.0005 BTC per BTC withdrawal.
Aggregate liquidity engine
About 60% of Binanace and Huobi orders are available to Pionex users. The remaining 40% on the order book is not legitimate and cannot be used. This is still a very high number available to traders and helps ensure that orders are fulfilled on Pionex.
How to use a grid bot on Pionex
GRID Bot is the emerging star among several cryptocurrency trading companies. It is a powerful but old trading approach that benefits from the fluctuating cryptocurrency market. You just need to define a range for this, which will help you “buy low and sell high” automatically in the region.
It buys and sells orders in certain price areas, thus ensuring standard volatility for tiny, stable earnings. It is ideal for beginners or already established traders.
0.2- 0.5% per day can be reached with a network bot. You can have an average of around $10 per day with around $2,000 on the market using grid robots.
STEP BY STEP GUIDE TO USING GRID BOT
- Deposit funds – You must first deposit cash to start using Pionex.
- Choose a trading pair and set the parameter for GRID Bot
- A GRID Bot is available in two modes. You can use AI strategy to configure your GRID bot if you are new to the GRID Bot. You can also create your own Set Myself strategy.
- How the Grid Bot’s “AI Strategy” mode works
- Over the past seven days, the bot estimates the volatility of the coins. On this basis, the bot determines the channel or range of upper and lower values to be exchanged in the inner swing.
The Grid Bot divides the amount assigned to the selected trading pair. Sets a limit grid for buy and sell orders on the selected channel. Then, the bot sells X and takes profits in Y, when the price reaches one of the lines above the current rate. When the price drops, Y will be bought. And so on, while the price remains on the channel.
How the grid bot works in Set myself mode
You can set the price range, the number of grids and the distance between them independently in the Set Me mode. These changes will allow you to improve your strategy with just a few basic knowledge. Remember that, when working in manual Grid Bot mode, the minimum spaces between the grids must be greater than the commission size multiplied by two (sales and purchase expenses) for the bot to make a profit.
Check performance every day
Pionex offers comprehensive data on the performance of your GRID Bot. The performance of crypto-traders can be visualized with GRID Bot data.
Pionex Reverse Grid Bot
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The reverse grid bot is the same as the regular grid bot. The only difference is that you use the first currency in pairs and it shows you how many tokens you have earned, instead of usdt. But the consensus is always the same. Buy when it goes down, sell when it goes up.
Futures Grid Bot
It works the same way as the regular grid bot, but you trade with leverage. When you open a leveraged trade, there is a price that is calculated automatically. This is the “clearance price” and if the price reaches it, then 100% of your money is gone and you will be “liquidated” – the trade closes automatically and you get a -100% return on whatever you put into the trade.
Pionex Arbitrage Bot (The Crypto Arbitrage VIP Bot)
Spot Futures Arbitrage Bot profits from the volatility of coin prices by buying short futures positions while maintaining the same amount in the spot market. This ensures that you have almost no capital risk because you can sell your spot contracts to offset the loss on your short positions if the ticker price rises. The funding fee, which is delivered to holders of short positions and can be checked in Binance or the Pionex app, is how the bot makes money.
Pionex DCA Martingale Bot
Martingale is based on the idea that in the end you will be correct and earn by doing the average.
In my experience, the bot buys in increments, setting a new profit target when the price drops. Small purchase, but 5 security orders.
1/32, 1/16, 1/8, 1/
4, 1/2
This is the proportion of your position at risk when the price passes security orders. Prices fall, fall and retrace for greater gains.
In a growing market, you only get the increase up to the take profit ratio, 1% or 0.5% etc.
Tips.
- Pay attention to prices. If you set the scale to 1 or less, you risk a quick disaster if the price drops because that provides a little before the safety limits. I tested the price ratios. 2.0% is a safe pillow, 1.5% is more profitable and 1.2% is harmful because it is only 6% compared to 10% with 2.0 or 7.5% with 1.5. At 1.2, the bot went underwater.
- The profit ratio is also optimal. If you set it to 0.1%, you will have many executions but few profits. If your profit target is above 0.7%, your price is less likely to rise in a declining market. I noticed that 0.5% and 0.6% give about 1-5% bigger results.
- SHIB is suitable for a Martingale bot because of its price volatility. A Martingale bot could be used to cover a SHIB investment, for example 15,000 in a Martingale and 5,000 in SHIB. You will earn if SHIB goes sideways or 10x.
- Pionex bots have a greater APR potential than betting on major currencies and liquidity in case the market changes. To use pionex bots to establish a good entry point, you need to understand trading and technical analysis.
Pionex Rebalancing Bot
Your portfolio will be rebalanced every 5 minutes by the rebalancing bot. The bot will skip that period and wait for the next one if the rebalancing amount is less than the minimum order value for that pair.
Intervals of 1 hour or 4 hours are best (for the BTC + USDT bot, but since the cryptocurrency market moves similarly to BTC, this may apply to other coins). A threshold of 3% to 5% is best for BTC USDT rebalancing bots (may not apply to other coins). Threshold-based rebalancing produced slightly better results.
Pionex structured products (double investment and gain covered)
Similar to selling put options, double investing works the same way.
Basically, there are 2 possible outcomes if you buy a Dual Investment product (invest USDT based on BTC) on settlement day:
Your investment plus interest (based on the APR) will be converted into Bitcoin when the market price reaches the desired price.
You will get your investment plus interest in USDT if the market price exceeds the target price.
How can you use double investment now that you are aware of how it works?
First, choose a coin that you like or like, or that you feel comfortable for a long time.
Then, choose an appropriate product based on the tolerance level and period.
Consider the following scenario: you want to buy Bitcoin, but you feel that its current price of $19,800/BTC is too high.
So you want to buy Bitcoin
but at a discount and believe that the price of Bitcoin will fall this week to the level at which you are ready to buy. You can buy a double 2-day investment (BTC-based Invest USDT) with the target price at which you are willing to buy BTC, and by doing so, you get additional interest from the APR of the double investment, instead of simply waiting with your money and not earning any interest.
Consider buying a double 2-day investment with a target price of 19,000 USDT (invest USDT based on BTC). Let’s look at some potential outcomes for this:
- The Fed said there will be further rate hikes in the future, and as a result BTC fell to 18,500 on settlement day. As a result, you now have to buy BTC at 19,000, incurring an unrealized loss. However, you still bought BTC at a price that you felt comfortable holding and that was lower than yesterday. Therefore, you are aware that BTC is still a decent investment to keep in the long term even if you have to accept an unrealized loss in the short term.
- In case 2 (BTC goes south), you will keep your USDT and receive more interest from the APR. You should then repeat the procedure and continue to buy Dual Investment.
- Scenario 3 (BTC increases): BTC increases to 21,000, keep your USDT and the APR provides you with additional interest.
Tips:
- It is not always a good idea to pursue the option of double investing with the highest APR.
- It is crucial to choose a cryptocurrency that you want to keep for a long time and that you feel comfortable with.
- You may be able to reduce your average cost base through a double investment. Once you’ve switched to BTC, you can use the gain covered (second technique) to further reduce your cost base.
The second structured product is Covered Gain.
When you want to buy a cryptocurrency, you use
double investing, and when you already own that cryptocurrency, you use Covered Gain. Let’s start by defining the gain covered. Selling call options is similar to covering gain.
When you buy a BTC-covered gain while already owning Bitcoin, for example, there are two possible outcomes on settlement day:
Your BTC plus interest (based on the APR) will be converted into USDT at the target price if the market price exceeds the target price.
Indicative price = market price; you will receive your BTC back plus additional interest according to the APR.
You earn from holding cryptocurrencies only when their value increases. But with Covered Gain, you can earn when they move up, sideways or down. Let’s say you buy BTC at 19,800 and a gain covered by BTC at 2 days with a target price of 20,500. There are 3 possibilities:
- Scenario 1 (BTC declines): You continue to hold the BTC you planned to hold while earning more interest from the APR.
- In case 2 (the price of BTC decreases), you keep your BTC and receive more interest.
- Scenario 3 (BTC increases): BTC increases to 21,000, your BTC has been sold or switched to USDT at the target price of 20,500 and benefits from the price increase and APR. The only drawback is that if you sell BTC at 21,000, you will not receive the additional earnings (but who can actually time the top).
Tips:
- Don’t let the price rise too much beyond your target price as you risk losing additional premiums.
- Use it for a cryptocurrency that you intend to hold anyway,
- To get a higher APR, consider target price assets closer to the current price if you believe the price will decrease.
A small reminder: you can automate the following tactics using automated orders:
Use collateral earnings for a double investment
For Earned Covered, use Gain Covered (Auto).
The user experience of Pionex Mobile First!
Pionex offers a proprietary web-based enterprise platform that can be supported by all major web browsers such as Safari, Chrome, Firefox, and Explorer. The platform is advanced and easy to navigate and includes key features such as:
- Coin Rankings
- Real-time market capital
- Live chat
- Buy/Sell
- TradingView Chart
- Customizable user interface
- Trading history
Mobile App
The Pionex trading platform is primarily designed for mobile use, with a dedicated application available for download on iOS and Android devices. The app allows you to create grid trading bots, DCA bots, and more wherever you are.
You can track strategic statistics, receive real-time news and notifications, and check the stock price gap from mobile and tablet devices to maximize your profit potential. The app has a clean but intuitive design with positive user rankings pushing it to the top of the app store rankings.
Performance & Security
Pionex provides a secure business environment that complies with U.S. agency security regulations. The broker also holds more than $10,000,000 in investments from leading companies, such as ZhenFund and Gaorong Capital.
Pionex maintains its funds with reliable exchanges such as Binance and Huobi, also they have received an MSB license from FinCEN, promoting their authenticity.
Regulated in Singapore and the United States
The US MSB (Money Services Business) license was obtained from Pionex. Binance, Huobi and several top exchanges have been licensed in a similar way.
Risks of Using the Pionex Trading Bot
All trading strategies have risks and this includes bot trading. Strategies that are not well refined can fall victim to unexpected market movements and find themselves unprotected. It is crucial to put enough failsafe in place so that when the market takes an unexpected move, bot parameters ensure that it is limited.
Pionex vs Competitors
Pionex offers its users the following benefits that competitors don’t seem to offer.
Low costs: The Pionex Maker commission plan means that whatever the trading volume, your transactions are set to only 0.05% commissions.
Trading bot access: At no additional price, Pionex provides access to twelve individual bots.
A well-rounded smartphone app: The user experience is often bad when it comes to cryptocurrency trading apps. The Pionex app was considered simple to use and browse, simple to find and use common bots and commands.
Conclusions
Pionex is a unique and rapidly developing cryptocurrency exchange that offers a wide range of easy yet smart trading bots that are highly customizable and offer a plethora of strategies. Although it is a rather new platform, there is a great degree of security and an incredible level of financial support from major investors, suggesting that it is a great platform with a long future.
Although auto trading features are available for new traders, it is not possible to test the broker before risking funds due to the absence of a demo account.
Frequently Asked Questions (FAQ)
Can I trade with the Pionex arbitrage bot in New York
There are no geographical limitations for Pionex clients, which means traders can register a live account anywhere and start using trading services.
What are i Pionex leveraged token
Pionex leveraged tokens offer margin trading exposure and have a well-designed rebalancing mechanism. Instead of a fixed and constant rate, it maintains a flexible leverage of goals. Token names consist of three parts: coin, leverage, and long/short, e.g. BTC3L.
What is the difference between arithmetic and geometric grids Pionex
The grid generation approach used by Pionex Geometric and Arithmetic trading robots differs significantly. Each grid in arithmetic has the same common difference, while each grid in geometry has the same common ratio.
Can I use Pionex in the US
No, US residents are not allowed to trade on the Pionex platform.
What is Pionex Lite and is it safe
Pionex Lite is a product that allows you to buy Bitcoin and Ethereum in US dollars. The APP is designed in a simple and convenient way, reducing the difficulty of use for consumers and allowing them to use it even if they are not familiar with Bitcoin or investments. Pionex Lite offers a one-stop-shop for everything from USD to Bitcoin to trading robots.
No need to become an expert in blockchain technology. The trading robot only needs to place an order to execute low fully automated purchases and high sales 24 hours a day, seven days a week.
The main features of Pionex Lite include bank transfers to acquire bitcoins, blockchain transfers, Bitcoin/Ethereum spot purchases, and opening Bitcoin/Ethereum bot orders, among others.
Compliance and user security practices at Pionex Lite
(1) Work with compliance agencies CIRCLE and Paxos to confirm that deposits and withdrawals in US dollars are compliant.
(2) It only supports safe countries and is prohibited for use in high-risk countries and regions.
(3) If users wish to use it, they must pass KYC first, and the bank card information sent must match the KYC information. They can only be used once all these steps have been completed.
These security practices help keep pionex Lite users safe when using their services.
What is Pionex Smart Trade
Pionex Smart Trade is a ‘swing catcher’ that operates 24 hours a day, seven days a week. You can set a range of different order types to earn profit.
In which country is it registered Pionex
Traders from Australia, Thailand, Canada, United States, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other nations are accepted by Pionex.
What are the risks of using Pionex
If the price falls and never returns to its previous level, this happens more frequently than you might imagine. Even the best grid bot on the planet would not be able to benefit from such a scenario.
You could lose a lot of money if you don’t configure your bot properly or don’t have important order types like stop-limit orders set for market triggers.
The more leverage you have, the more profit you will get. However, liquidating the Futures section will be easier. When the Futures are close to liquidation, Pionex will automatically stop them and sell the spot. You will not lose money, but trading and slippage fees will be incurred.
