Pionex Review

Pionex Review

Robert McDougall 

January 9, 2024

Cryptocurrency

What is Pionex?

Pionex is a cryptocurrency exchange established in 2019 with a focus on automated trading, with 16 free built-in trading bots. It is an especially great platform for traders that are just getting started with trading bots. The exchange is easy to use, with detailed tutorials to explain how each bot works, and what it is best used for. 

  • Web Address: www.pionex.com
  • Main Location: Singapore
  • Mobile App: Yes
  • Deposit Methods: Credit card, Apple Pay, Cryptocurrency
  • Trading Fees: 0.05%
  • Deposit Fees: Crypto: Free, Credit card (Europe): 3.5%, Credit card (non-Europe): 4.5%
  • Cryptocurrencies: BTC, ETH, LTC, SOL, DOT, TRX & 120+ more
  • Fiat currencies: USD, TWD, EUR, GBP, CAD, AUD, CZK, IDR, MYR, KRW & 13 more

My Overall Thoughts on Pionex

Pionex stands out as my top recommendation for cryptocurrency trading bots, primarily for these three compelling reasons:

1) Cost-Effective Trading: Pionex caters to both newcomers and experienced traders with its cost-effective approach. Setting up an account is free, and you can access all 16 of their trading bots without any charges. Moreover, the platform boasts extremely low trading fees, at just 0.05% per trade, allowing you to maximize your profit potential.

2) Educational Resources: Pionex is an excellent platform for learning about trading bots. Each of its 16 bots comes with a comprehensive tutorial that provides a detailed explanation of their functionalities. Should you encounter any issues or have further inquiries, Pionex offers a readily accessible support team through their Live Chat feature.

3) Diverse Cryptocurrency Selection: Pionex provides access to a wide range of 120+ cryptocurrencies, including popular options like BTC, ETH, LTC, SOL, DOT, TRX, SHIB, and DOGE. Whether you want to set up bots for automated trading or prefer to hold onto your assets (HODL), you'll find a plethora of options to suit your preferences.

Additionally, Pionex has addressed a common concern by introducing the capability to purchase cryptocurrencies with a credit card using USD or TWD, making it more accessible for users seeking to fund their accounts without the need for direct fiat deposits.

For those seeking an intuitive platform for automated trading with ample educational support and a diverse selection of cryptocurrencies, Pionex undoubtedly stands out as the top choice. It combines ease of use with a wealth of educational resources and a broad array of available coins.

Key Features & Advantages of Pionex

Pionex tops the list for best crypto trading bots and there are many reasons for that. I have listed the key features here so you can learn for yourself why it's so popular:

Negatives & Disadvantages of Pionex

There's a minor aspect where I believe Pionex has room for improvement. For a more in-depth analysis, you can follow the link provided below.

What Services does Pionex offer?

With numerous trading bot choices available, what sets Pionex apart as the optimal choice? Let's delve into a comprehensive examination of the diverse services provided by Pionex.

Automated trading with 16 free bots:  Pionex's standout offering is its collection of 16 complimentary trading bots integrated directly into the platform. Traders have a plethora of options to select from, and these bots can be customized by setting specific parameters to align with your trading preferences. The beauty of these bots lies in their seamless integration within the exchange itself. Unlike some other bots that require linking to external cryptocurrency trading platforms, Pionex offers a hassle-free experience with no compatibility concerns, allowing you to utilize them immediately upon account creation.

Even if you are a beginner and have no experience using trading bots, Pionex has you covered. Their AI 2.0 Grid Trading bot is the best option for newbies, as the operation is simple, there's an APR of 153.4%, and you can start making money without setting complex parameters. It is based on 30 day backtesting, and is suitable for running 30-50D. Watch this short video introducing the Grid Trading bot to gain a better understanding. 

Manual trading with limit and market orders available:  While Pionex is primarily designed for automated trading bots, it also provides the flexibility for manual trading, akin to what you'd experience on a conventional cryptocurrency exchange. You have the option to purchase or sell your coins against USDT, employing either limit orders or market orders as per your trading preferences.

Extremely low trading fees of only 0.05%:  Pionex stands out as an exceptional choice for traders due to its remarkably low trading fees, set at a mere 0.05%. It's noteworthy that I haven't come across any other cryptocurrency exchanges offering such a low fee structure without requiring a specific trade volume threshold. This advantage allows you to seamlessly allow the bots to execute trades on your behalf, yielding profits, all the while knowing that each transaction won't significantly erode your earnings.

Over 120+ different cryptocurrencies supported:  Pionex offers a diverse selection of cryptocurrency assets for trading, boasting a portfolio of over 120+ coins. This extensive range ensures that you're likely to discover the specific market you intend to trade within, given the vast variety available.

Android and iOS mobile apps available:  Pionex provides mobile accessibility through dedicated applications available on both the Google Play store and the Apple Store. This convenience allows you to engage in manual trading or configure your trading bots at your convenience, regardless of your location.

Live Chat and email customer support:  Pionex offers customer support through both email and Live Chat. During my test of the Live Chat feature, I found it to be efficient and responsive. I was quickly connected to a customer support agent, with only one person ahead of me in the queue. This speedy access to assistance was a positive experience, especially compared to some other crypto exchanges where I've had to wait for more than 20 minutes to connect with a real person. The customer support agent I interacted with was knowledgeable and provided helpful responses to my inquiries.

The live chat function is available from 08:00 - 21:30 (UTC+8), but will be adjusted to 24 hours in the future. 

Leverage trading available:  With Pionex, you can trade with up to 100x leverage to trade on certain coins. Leverage trading is a way to maximize your potential profits, but note that it is also financially riskier. We do not recommend you trade using leverage if you are not an experienced trader.

Tutorials to explain how to use each trading bot:  Pionex makes it easy for users to learn about their trading bots. When you select a bot, you'll find a Tutorial button that provides detailed information about the bot and its optimal use cases. In the screenshot below, you can see the beginning of the Martingale Bot tutorial. These tutorials are designed to be user-friendly, making them accessible even for individuals who are new to trading bots. To test their effectiveness, I had a friend who had never used a trading bot before read the Martingale tutorial, and he was able to summarize the key takeaways from it with ease.

Deep liquidity aggregated from Binance and Huobi:  When trading on Pionex, you can have confidence in the platform's deep liquidity. Pionex leverages liquidity from Binance and Huobi, ensuring that it remains close to the ticker price. In fact, Pionex is one of the largest brokers for Binance and one of the world's biggest market makers for Huobi, further solidifying its position as a reliable source of liquidity.

What I Don't Like About Pionex

No demo account to practise trading first:  It would be excellent if Pionex included a demo mode, where users can test out their trading strategies and the different bots available before committing their money to it. If you are after a trading platform with a demo mode, eToro is a great option, but unfortunately they do not have trading bots for you to test out.

Pionex Fees

Pionex Deposit Fees

Cryptocurrency: Free

Credit card (Europe): 3.5%

Credit card (non-Europe): 4.5%

Pionex Trading Fees

Pionex charges a very low fee of 0.05% on each trade and there is no additional cost to use a trading bot. I couldn't believe the fee could be so low, I had to triple check on their fee schedule, as well as in the exchange. It is not an error, the trading fees really are 0.05%, NOT 0.5%. This makes it perfect for large volume day trading.

Pionex Withdrawal Fees

Withdrawing cryptocurrency from Pionex will incur a flat fee depending on the coin. For a full list of all the coins and their withdrawal fee, click here.

Pionex does not accept fiat withdrawals.

Pros and Cons of Pionex

Pros
  • Over 120+ different cryptocurrencies supported
  • 16 free in-built trading bots
  • User-friendly, with tutorials to explain each bot
  • Live Chat and email customer support
  • Extremely low trading fees of only 0.05%
Cons
  • No demo account to practise trading

Verdict

Pionex is a top choice cryptocurrency exchange for trading bots and is perfect for beginners to automated trading. They really walk you through each bot in full detail so you know exactly what you're doing instead of rushing in headfirst with no idea. The range of 120+ coins and low trading fees of 0.05% is impressive to say the least, and the deep liquidity ensures orders will be filled quickly.

If you are still trying to decide on a trading bot, have a look at our list of the best trading bots here. If you are after a cryptocurrency exchange that is simple to use, and you are not looking for free trading bots, then I suggest you take a look out our article on the best cryptocurrency exchanges.

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency 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. This post includes affiliate links with our partners who may compensate us. 

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