ReviewsTrading Robots

Pionex Review: Positives and Negatives of Using Its Crypto Bots

0
Pionex

Pionex is a crypto exchange offering leading crypto bots that ensure efficient trading. It boasts users in 100 countries and regions worldwide. The daily trades executed by the bots exceed more than 100 million and the monthly trading volume exceeds 5 billion.

What is Pionex?

It is a leading exchange offering users automated bots within the platform. It aims to free traders from the issues caused by API glitches that occur during periods of high traffic.

Features of the Pionex platform

Some of the main features that make the platform stand apart from its competitors are:

  • It allows users access to a maximum of 30 bots for each trading pair.
  • There are 13 different types of bots like the grid, DCA, TWAP, etc.
  • The grid bots and other bots have advanced features that generate high returns with low risk
  • Trade settings include start trigger, SL, TP, etc.
  • The bots have a lower risk setting.
  • It is an aggregated exchange allowing users to trade with liquidity gained from others.

How does the Pionex bot operate?

The platform offers inbuilt bots that are free to use. You need to register with the service to access the bots. The working method of the bots depends on the type of bot you choose. For instance, the grid trading bot uses market highs and lows to generate returns. It is ideal to use in a fluctuated sideways market. There are other bots like the Martingale bot, DCA bot, TWAP, etc. that use the strategy after which they are named.

Registration process

The signup process is simple and completed in a few steps as shown below:

  1. Visit the official site and click on the sign-up button found at the bottom of the home page
  2. In the registration page, enter your email address or phone number and password
  3. Click on the sign-up button

Now the registration is completed. You can access the various bots of the platform and choose one that suits you and start trading.

Is it easy to use Pionex?

The user interface is very simple and easy to navigate. The vendor provides tutorials, video guides, a blog, and an FAQ section to help users.

Pionex fees, commissions, limits, and payment options

The platform has one of the lowest fees among its competitors. It charges a 0.05% commission fee for the trades. There are no fees for using the bots. Credit card payment is the only payment option listed on the official site. Fiat currencies can be used to buy crypto. It supports many fiat currencies including USD, EUR, GBP, TWD, CAD, AUD, JPY, RSD, HRK, CHF, KWD, QAR, and more.

Pionex: withdrawal

The withdrawal fee depends on the coin or token you want to withdraw. For instance, BTC withdrawal has a fee of 0.0005 BTC. For ETH, the fee is 0.005 ETH, and so on.

How much should you deposit to start trading with Pionex?

The minimum deposit you need to make to use the trading platform depends on the crypto pair you want to trade on. Under the fees section, the company provides info on the minimum deposit required for the different coins or tokens available on the exchange.

Partnered exchanges and brokers 

The company has partnerships with Binance, Sumsub, Simplex, Circle, Coinfirm, and Banxa.

Is it beginner-friendly?

For users who are new to crypto trading, the simple user interface, easy signup process, and low fees are definite advantages.

Is it a profitable system?

Although the company does not provide verified proof of its performance, the diverse range of bots it offers and the easy and efficient platform give it good profit potential.

Security & regulation

As per the website info, the company has appropriate technical, administrative, and physical security measures to protect the personal information of users. The measures include firewalls, physical access controls, information access authorization, and data encryption.

Company information

The company has been granted the MSB license by the United States FinCEN. As per the company info, you can register with the platform and start trading paying just a 0.05% commission fee. For support, Tutorials, an FAQ section, social media links, and an online contact form are present.

Should you trade with Pionex?

The free trading bots, easy navigation, simple trade setup, and efficient functionality make the platform a favorable hub for trading.

Pionex

8

Pionex offers free automated bots for its users ensuring they do not have the hassle of dealing with API glitches. The diverse range of available bots, beginner-friendly interface, and efficient trading process make it a much sought-after platform. Minimal fees, a wide range of traded pairs, and good support are other features that tip the scales in favor of this service.

  • Offers free automated bots
  • Low commission fee
  • User-friendly interface
  • Restricted in certain countries

Happy Market Hours Review

Previous article

Apex Legends: Top 5 Characters Guide

Next article

You may also like

Comments

Leave a reply

Your email address will not be published.

More in Reviews