Pionex Review

About Pionex

Pionex is a cryptocurrency exchange with built-in trading bots. You can access 12 unique trading bots for no additional fee. These bots allow you to automate your investing strategy so you don’t need to constantly monitor the market. Pionex features low trading commissions and a fully fleshed-out mobile app. We believe Pionex would be a great option for high-volume and mobile investors.

Company Overview

Pionex is an automated crypto trading environment launched in 2019 and has been one of the fastest-growing platforms in Asia, with over $30 million in trade volume per day. Today, the exchange has over 100,000 users, serviced by a team of 100+ experts plus the founder and CEO.

Pionex is backed by BitUniverse and has been invested in by the prominent Chinese venture capital firms ZhenFund and Gaorong Capital.

Liquidity engines are aggregated from both Binance and Huobi Global, ensuring that the bots can match orders and run 24/7.

Fees, Commissons and Spreads

Pionex Fees

The coolest attraction of Pionex’s cryptocurrency trading bots is the fact that they are completely free.

In addition, there are no monthly subscription fees, one-time expenditures, or hidden taxes that emerge from the shadows after a certain period of time. However, Pionex is a cryptocurrency exchange and thus makes money via transaction fees.

• Maker-taker fee model: Pionex charges a fee for transactions that ‘make’ liquidity on the market, and another for trades that ‘take’ liquidity away from the market, as part of its maker-taker fee model;

• Competitive fee: Currently, the maker and taker costs at Pionex are both set at 0.05% of the entire transaction value;

• Fee deduction: Once the trade is fulfilled, your charge is removed from the total remaining amount that was deposited into your account.

Pionex Comissions and Spreads

The rate of the trading fee on Pionex depends on the trading volume and on whether a trader uses leverage. Clients with a 30-day trading volume of less than 15 BTC are assigned the Standard status. Without the leverage, they pay 0.05% fee to the exchange. The fee for margin trading is 0.1%. Traders with the trading volume equal or higher than 15 BTC are qualified as VIP clients. Depending on the level (VIP1-VIP8) and the type of the order (Taker/Maker), their fees are 0.045%-0.09%. Deposits are free. Withdrawal fee is set by the blockchain network. For each cryptocurrency, the rate is different: 0.0005 BTC, 0.0015 LTC, 0.25 XRP, etc.

Pionex Bots Explained

There are a lot type of bots are available:

View the Pionex bot tutorial information on their website to find the best bot for you and your trading strategy.

Desposit and Withdrawing on Pionex

Pionex understands that its users have a wide range of requirements, one of which may be the desire to trade while on the move.

Pionex has a fact that they developed their platform, particularly for mobile usage. They have created a unique application that can be downloaded with both Android and iOS devices and used to deposit funds easily from anywhere while on the go.

You will not be able to withdraw fiat currency through Pionex; instead, you will only be able to withdraw cryptocurrency. It is necessary to move it to other exchanges and then cash it out utilizing such exchanges that let you convert it to fiat currency.

Is Pionex Safe or Scam ?

Pionex keeps its funds on secure exchanges like Binance and Huobi, which means that the company benefits from these high-level exchanges’ security features. It also has received a MSB license from FinCEN. The broker is safe to use thanks to these features.

Trading Platform

Pionex has a web-based proprietary trading platform that is compatible with all major web browsers, including Safari, Chrome, Firefox and Explorer.

Type of Trading Bots:

• Coin ranking
• Live market cap
• Manual buy/sell
• Built-in live chat
• TradingView charts
• Light and dark mode
• Customisable time filters
• Full trading order history
• Fully customisable interface
• Watchlists, favourites and live coin holdings
• Several technical indicators, including Bollinger Bands, RSI, MACD and Price Oscillator

Customer Service

Pionex offers a few unique methods that you can use to access its support team.

• By email: To get in contact with Pionex’s team by email, send a message to service@pionex.com.
• By live chat: To access Pionex’s team via customer service, visit the homepage for the broker and click on the tab labeled “Support.” Then, click on the button labeled “Live chat.” A popup will appear on your screen where you can connect with a representative.

Pionex doesn’t currently list hours of operation for its customer service team on its website. We attempted to access live chat features at around 10:30 A.M EST and were told that their customer service team was offline. However, you can access useful tutorials offered on the broker’s YouTube page. In the future, we’d love to see Pionex expand its customer service offerings to include phone chat and to list its hours of operation.

Final thoughts

As a whole, Pionex stands out from the competition not only by offering 16 free automated crypto trading bot options but also by offering a plain and transparent price structure.

This guide covers the fundamentals of how to deposit and withdraw cryptocurrency using the platform. The convenience with which it can be done is one of the advantages of utilizing the exchange, which includes trading bots that are already built-in and can be used right away by beginners.

FAQ’s

What Are Pionex Leveraged Tokens?

Pionex leveraged tokens offer margin trading exposure and have an optimised rebalancing mechanism. It maintains flexible target leverage rather than a fixed and constant rate. The token names consist of three parts: coin, leverage, and long/short, e.g BTC3L.