Skip to content
- Home
- /
- Crypto Trading Bots
- /
- Pionex trading bot review...
Pionex trading bot review 2024: Scam or Legit?
Swen Keller
- URL: https://www.pionex.com/
- Year Founded: 2019
- Pricing: Free
- Free Trial: No
- Payment Options: Free for trading bot but for purchasing crypto - Apple Pay, Bank transfer, and credit and debit card
- Supported Exchanges: Pionex exchange
- Cloud Based: Yes
- Reported Profitability: Depends on the trading strategy bot used
- Customizable Strategies: Yes
- Scalping: No
- DCA: Yes
- Arbitrage Bot: Yes
Pionex Trading Bot Review: Our Opinion
Pionex offers a wide range of free crypto trading bots which mainly are grid bots. It is highly restricted as it only supports its cryptocurrency exchange for automated trading.
There are also a limited set of strategies supported.
In general, it is a basic cryptocurrency trading bot for intermediate traders.
An Overview of Pionex
Pionex is a United States-based crypto trading bot platform with an in-built cryptocurrency exchange.
The hybrid crypto bot platform was founded in 2019 and it’s headquartered in Princeton, New Jersey.
Currently, Pionex supports users in more than 100 nations and regions across the globe. It facilitates over 100 million trades daily, with a monthly trading volume of $50+ billion.
The crypto bots platform is a cloud service with over 1,514 days running and 99.99% uptime.
Pionex bot service is also partnered with some of the biggest names in the cryptocurrency industry including Banxa, Binance, Alchemy Pay, Simplex, Circle, CoinLedger, and Sumsub.
Beyond its offered 16 free crypto trading bots, Pionex allows you to buy over 379 cryptocurrencies using your credit and debit card, Apple Pay, and bank transfer.
Users can also earn staking rewards and yield via its Earn feature.
Pros
- The Grid trading bot supports a vast selection of cryptocurrencies and trading pairs
- Supports the purchase of over 360 cryptocurrencies
- It has a built-in crypto exchange
- Offers staking
Cons
- Supports only one crypto exchange
- Basic features offered
Pionex Bots Review: Unique Features
Pionex Rebalancing Bot
The Pionex Rebalancing bot automatically adjusts your crypto holdings in the token combination of your choice.
It buys low and sells high and with this strategy, it can maintain the same ratio of asset values by rebalancing at preset thresholds and intervals.
The rebalancing bot is perfect for traders who are optimistic about multiple coins at the same time and willing to hold the coins for a long period to gain value appreciation.
A major advantage of the rebalancing bot is that you can set the rebalance conditions for the bot and use the fluctuations in the exchange rate between tokens to carry out rebalance arbitrage.
You can create your rebalancing bot on Pionex by doing the following:
Login to your Pionex account and click on the “Create” button on the rebalancing bot.
Two modes will pop up on your page: Dual-coin more and Multi-coin mode.
The dual-coin mode lets you allocate two coins at the same time. It supports “Leveraged” and “Spot” on selected coins.
The position allocation for coins in the dual mode is 1:1 by default.
The Multi-coin mode allows you to allocate up to 10 coins. You can set the position proportion of each coin however you wish.
If you do not know which coins to choose for the bot, click on “Choose and Index”.
The indexes come highly recommended and consist of cryptocurrencies with great value.
Pionex offers 3 index sorting methods: Latest Published, Trending, and Most Profitable(180D).
Pionex has a manual setting page that gives you access to the advanced setting area. The manual setting page has the following parameters that you can choose.
- Rebalance: You can turn rebalance on and off. When you turn it on, the bot will start running and maintain the proportion of the coins through constant rebalance. If you turn it off, the bot will stop running, hold the coin, and remain unchanged. There are 2 rebalance modes: Periodic and Threshold. In the Periodic mode, the bot rebalances the asset ratio at a fixed interval. With the Threshold mode, the bot will rebalance the assets when the proportion change of any coin is higher than the set value.
- Trigger Price: You can set the trigger price for one or more coins. When the coin reaches the trigger price, the bot will be created and start to run.
Pionex also offers several bot parameters. Available parameters include; Transactions, Next Rebalancing, and Total profit.
You can modify the rebalance conditions of the bot during its operation. To do this, simply click on “Detail” >>>”Trade” >>>”Rebalance Mode” button on the bot.
You can also increase your investment by clicking the “Add Investment” button.
The currency type and currency position ratio can also be modified.
You can withdraw your investment from the bot by clicking the “Withdraw Investment” button on the bot.
The minimum investment requirement for the rebalancing bot is 100 USDT for a single currency.
The Pionex rebalancing bot is free to use, only transaction fees are collected.
Pionex Composite DCA Bot
The Pionex DCA bot mitigates risks by diversifying your portfolio and allowing you to trade multiple coins at the same time.
This strategy is for traders who want to reduce their risk exposure across multiple cryptocurrencies.
The Pionex Composite DCA Bot is flexible and customizable. It also features a range of parameters like the ones below:
- Investment: This is the amount of crypto you wish to invest in each trade.
- Signals: This shows the signals you want to use as the start condition for each trade.
- Take Profit Ratio: This is the profit ratio at which the bot will automatically sell your crypto.
- Price Deviation: This is the percentage of price deviation that triggers the bot to execute a trade.
The DCA Bot also features several advanced settings that you can adjust. This includes safety orders, volume scale, max active coins, and max active safety orders.
Since the entry level for each deal affects the overall performance of the Composite DCA Bot, you should start your deal at a lower market price.
Grid Bot
The Grid Bot is a sophisticated trading program that allows you to automatically execute trades that “buy low and sell high” based on a predetermined price range in the crypto market.
This Grid Bot mitigates the risk of missing market opportunities and inaccurately timing take profit or stop loss decisions.
The Grid Bot employs a rigorous approach of purchasing at lower prices and selling at higher prices. This method not only effectively navigates through market fluctuations, but it also consistently generates a reliable stream of earnings.
The Pionex Grid Trading bot is suitable for both new investors and experienced traders looking for both short-term and long-term investments.
The Pionex Grid Bot supports a vast range of currencies and trading pairs.
Pionex has a Leveraged Grid bot. The Leveraged Grid Bot functions exactly like the standard Grid trading bot, the only difference is that the Leveraged Grid Trading Bot allows you to amplify returns with margins.
To create a grid bot on the Pionex app, do the following:
Open the Pionex app and click on the “Trade” button at the bottom of the page.
Scroll to the “Bot” section at the top of the Trades screen and click the “Create” button.
Next, select “Grid Bot”.
Choose a cryptocurrency and configure the relevant parameters for the Grid Bot.
Once you do this, your grid bot has been successfully created.
Pionex Mobile App
The Pionex mobile app gives you access to 16 crypto bots which allows you to automatically trade cryptocurrencies on the go. Available bots include Spot Futures Arbitrage Bot, DCA bots, Grid bots etc.
With the mobile app, you can buy cryptocurrency on trusted exchanges like Coinbase, Binance, Huobi, etc.
The mobile app aggregates liquidity from Binance and Huobi near the ticker price. It also supports the trading of over 250 cryptocurrencies.
The mobile app has an intuitive interface that is suitable for both beginners and advanced traders.
Pionex Bots Supported Crypto Exchanges
The Pionex bot only supports the Pionex exchange. However, Pionex bots are listed in Binance and Huobi.
Pionex Trading Bots: Trading Strategies
Pionex supports a wide range of crypto trading bots strategies including
- DCA Trading Strategy: With this Pionex trading strategy, the bot trades multiple coins at the same time to mitigate risks by diversifying your portfolio. The strategy is particularly useful for crypto traders looking to minimize their risk exposure across several coins.
- Portfolio Rebalancing Index Strategy: This trading strategy is best for users who want their Pionex trading bots to hold several cryptocurrencies at once for a long time to gain value appreciation.
- Arbitrage Trading Strategy: With the arbitrage strategy, the Pionex crypto arbitrage VIP bot purchases Ethereum (the only coin your arbitrage trading bots trade) in the spot market while selling Ethereum (open short) of the same amount in the futures market. Using this trading strategy, the spot futures arbitrage bot can receive interest (funding fees) paid to the short position while keeping a market-neutral portfolio.
- Grid Trading Strategy: The Grid bot strategy enables Pionex Grid trading bots to execute trades that buy low and sell high within predetermined price ranges automatically. The Grid bot doesn’t just help crypto investors overcome market volatility but it also offers a steady source of profits.
- Trailing Buy and Sell: Pionex trading bots with this strategy buys bottoms and chases prices in fluctuating market conditions.
Beyond these strategies, Pionex offers the following:
- Leveraged Reversed Grid Bot
- Reversed Grid Bot
- Dual Investment Strategy
- Smart Trade
- Stop Limit
- Infinity Grid Bot
- TWAP
- Margin Grid Bot
- Arbitrage Aggressive Bot
- Trailing Take Profit
- Pionex Grid Trading Bot
Pionex Trading Bots: Customizable Strategies
Pionex allows you to customize its pre-built strategies as well as create your own trading bots strategies.
For example, with the DCA bot, grid bot, and other trading bots, you can customize a wide range of parameters including the following and other options:
- Trading Signals: You can customize the signals you want to use as a start condition for your trading bots.
- Investment: Pionex allows you to personalize the amount of cryptocurrency you want to invest per trade.
- Price Deviation: You can change the percentage of price deviation that triggers the bot to execute a trade.
- Take Profit Ratio: This lets you customize the profit ratio at which the bot will sell your coins.
You can also adjust the volume scale, safety orders, max active coins, and max active safety orders.
Pionex also allows you to create a bot based on supported strategies.
Pionex Bots Review: Plans and Pricing
Pionex does not use a subscription model like other crypto trading bot platforms. Rather, it charges maker and taker fees on Spot trades, Leveraged tokens, and Futures. All trading bots are free and you don’t need to pay for bot creation.
Spot Trades
- Maker: 0.05%
- Taker: 0.05%
Leveraged Token
- Maker: 0.1%
- Taker: 0.1%
Futures
- Maker: 0.020%
- Taker: 0.050%
The platform also charges withdrawal fees which differ based on the particular cryptocurrency you intend to withdraw.
Here are some withdrawal fees:
- Bitcoin: 0.000018 or 0.0004
- USDT: 2 USDT to 36 USDT depending on the network
- Ethereum: 0.0003 to 0.0048 ETH
Payment Methods
Trading bots are free of charge, however, to buy crypto on the platform for trades Poinex supports the following payment methods: credit and debit card (Visa and MasterCard), Apple Pay, and Bank transfer.
Opening a Pionex Trading Bot Account
To open a Pionex account go to https://www.pionex.com/en/.
Next, tap on the “Sign Up” button on the menu bar.
Tap “Phone” or “Email to sign up with either your mobile number or email address.
If you opt for an email address, enter your email and then select a password.
Alternatively, you can tap on the “Google Account” sign and then click on the orange “Next” button.
That’s it! You’ve created a Pionex account.
You’ll be required to complete identification if you want to deposit or withdraw from the Pionex cryptocurrency exchange.
Setting Up Pionex Trading Bot with Exchanges
To set up the Pionex trading bots with the Pionex exchange, tap on the “Create Bot” button on your dashboard.
Next, click on the orange “Create Bot” button on the new page.
Tap on the Pionex Bot you want to use and click the “Copy” button.
Edit the parameters you want to be changed
Execute the bot.
There’s no need to connect the API Key as Pionex only supports the Poinex exchange.
Trading Experience/Using the Poinex Trading Bots
The Poinex trading experience is targeted at advanced users. Beginners may find the exchange difficult to navigate due to its trade interface which would appear daunting to newbies.
It also supports only 1 cryptocurrency exchange (its proprietary trading platform), which may discourage users who want to use strategies that involve multiple exchanges.
Pionex Trading Bots Review: Security
Pionex is a registered Money Services Business (MSN) with FinCEN.
Pionex bots cannot exercise any discretion about crypto transactions without your input. You can stop the activity of the bot and withdraw your assets at any time.
Most of the trades conducted on the Pionex exchange happen on Binance and Huobi and users’ crypto assets are stored on these 2 exchanges.
This means that the security of Pionex is indirectly linked to that of the 2 exchanges, of which Binance has been hacked before.
Pionex users can protect their accounts with two-factor authentication.
Pionex Customer Service
Pionex offers customer support via Live Chat and email at service@pionex.com.
The platform also has a FAQ section with in-depth information on the platform and the various available trading bots.
Pionex also offers social community support via Telegram.
Does Pionex Bot Platform Offer Education?
No, Pionex does not offer a dedicated education center but it does feature a blog that covers topics on automated trading strategies.
Pionex Tading Bots Review: Final Thoughts
Pionex allows users to automate their strategies using its trading bots. The automated crypto trading environment stands out for its free bots. However, it charges trading fees and you can only use its bots on the Pionex exchange.
In general, it is a simple trading bot platform with an in-built exchange.
Pionex’s reputation is well-deserved, but the crypto trading bot world offers more. Get a different angle with our Coinrule review and see the industry’s top picks on our best crypto trading bots page.
FAQ
Most frequent questions and answers
Pionex trading bots are generally risky as they involve trading on the cryptocurrency market, which is volatile.
Phoenix users in the United States cannot trade leverage tokens or margins on the platform.
If you have a profitable trading strategy that you want to make hands-free and automate, creating a trading bot is worth it.
Pionex offers free trading bot access, however, there are trading fees.
We always try to provide the most accurate information available, and make sure our team follow through.
If you want to know more about our Crypto Exchanges Review Methodology follow the link below
Skrumble.com provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade, or sell any investment instruments or products, including but not limited to cryptocurrencies, or use any specific exchange. Please do not use this website as investment advice, financial advice, or legal advice, and each individual’s needs may vary from that of the author. Investing in financial instruments, including cryptocurrencies, carries a high risk and is not suitable for all investors. It is possible to lose the entire initial investment, so do not invest what you cannot afford to lose. We strongly advise conducting your own research before making any investment decisions. This post includes affiliate links with our partners who may compensate us.
To view our privacy policy read here.
