Pionex Review

Pionex Review

Robert McDougall

September 21, 2022

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 is my top recommendation for cryptocurrency trading bots, and that is because they have built their platform specifically for automated trading. These are my top 3 reasons why I choose to use Pionex:

1) Pionex is very cost-effective, which is perfect for newcomers to the world of crypto trading bots. You don't want to shell out a few hundred dollars only to find that the bots don't perform as you expected. With Pionex, it is free to set up an account, and free to access all 16 of their trading bots. The trading fees are extremely low, at only 0.05% per trade, so you can maximize your profits.

2) Pionex is a great way to learn about trading bots. Each one of their 16 bots comes with a detailed tutorial that explains everything you need to know. If you have any issues or further questions, you can reach the support team through their Live Chat feature.

3) Pionex offers access to over 120+ different cryptocurrencies, including the most popular ones such as BTC, ETH, LTC, SOL, DOT, TRX, SHIB and DOGE. You can set up bots to trade them or simply purchase them on the market if you prefer to HODL.

One complaint that I used to hear about Pionex is that it doesn't accept fiat payments; you can only deposit cryptocurrency into the platform. However, Pionex has changed that, and now you can purchase crypto with a credit card using USD or TWD, and begin trading. 

If you are searching for a platform where you can automatically trade using bots, Pionex is the best choice. It is easy to use, with plenty of tutorials and over 120+ different coins available.

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 is one minor area where I think Pionex could improve. To read in more detail, you can click on the jumplink below.

What Services does Pionex offer?

There are many trading bot options out there, so what makes Pionex the best one to use? Let's take a look in detail about the various services offered by Pionex.

Automated trading with 16 free bots:  The standout feature for Pionex is the 16 free trading bots that come with the platform. There are plenty of options for traders to choose from, and you can set certain parameters for the bots so they perform as you want them to. The best part about these bots are that they are included and integrated into the exchange. With some other bots, you need to link them to another cryptocurrency trading platform, to use them. With Pionex, it is simple, there is no issues with compatibility, and it works as soon as you create your account.

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:  Although Pionex is built primarily for the automated trading bots, you can also use it to make manual trades, just like you would on a regular crypto exchange. You can buy and sell your coins against USDT, using a limit order or market order.

Extremely low trading fees of only 0.05%:  Pionex is an excellent low-fee option for traders, with extremely competitive trading fees of just 0.05%. I have not seen any other crypto exchanges that have such a low fee, without needing to meet a certain trade amount. This means you can let the bots continue to trade for you and make profits, without worrying that each transaction will be taking a chunk out of your profits.

Over 120+ different cryptocurrencies supported:  Pionex has a wide range of crypto assets that you can trade, with over 120+ coins. You will most likely find the market you wish to trade on with such a large variety.

Android and iOS mobile apps available:  Pionex is available for mobile devices, both on Google Play store and the Apple Store. With this convenience you can conduct manual trades or set up your bots anytime and anywhere.

Live Chat and email customer support:  Pionex has customer support available via email and Live Chat. When I tested out the Live Chat function, I was placed in a queue with one person before me. Within a minute, I was talking to a customer support agent, which is quite impressive. On some other crypto exchanges I have used, it took more than 20 minutes to reach a real person. The customer support agent was very helpful and knowledgeable about the questions I asked. 

The live chat function is available from 00:00 - 13:30 (UTC+0), but will be adjusted to 24 hours in the future. 

Leverage trading available:  With Pionex, you can use up to 3x leverage to trade on certain coins. For example, BTC, ETH, BNB, XRP and more have up to 3x leverage, while ALGO, VET, EOS and others have up to 2x leverage. 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:  When you select a bot, there is a Tutorial button, which you can click to learn detailed information about the bot and what it's best used for. In the screenshot below, you can see the start of the Martingale Bot tutorial. Each tutorial provides an easy to understand explanation for those that are new to trading bots. I asked my friend who has never used a trading bot before to read the Martingale tutorial and he was able to summarize what he had learnt from it quite easily. 

Deep liquidity aggregated from Binance and Huobi:  When you use Pionex, you can trade with the knowledge that there is deep liquidity on the platform. Pionex aggregates the liquidity from Binance and Huobi near the ticker price. Pionex is one of the biggest brokers of Binance, and one of the biggest market makers of Huobi in the world.

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%.

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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