More and more different things and concepts are moving from the real world to the virtual. Trading follows these tendencies as well. We are moving in the same direction and offer you a Pionex trading bot review.
So, let’s answer the question «What is Pionex?» and how suitable it is for automated trading on the crypto exchange.
What is Pionex?
It is the first world’s free platform for automatic cryptocurrency trading using specially designed bots. Clients are offered a range of ready-made trading strategies that allow them to trade in 387 different cryptocurrencies (at the time of writing) on some exchanges.
As you can see on the official website of the platform, the community of Pionex is more than 100,000 traders who successfully use their services. The trading volume is about USD 5 billion per month. Add to this excellent reviews from users and competent online sources, and you will understand that the reputation of Pionex deserves the highest rating.
How long has Pionex been in business?
The Pionex platform was created by a team of enthusiasts in 2019 in Singapore. Rapidly developing, it has become one of the best free crypto trading platforms in the world. At the moment it is served by more than 80 specialists.
Where is Pionex based?
The Pionex office is located in the capital of the future technologies, the city-state of Singapore.
Who is the CEO of Pionex?
A Global General Manager of Pionex is Daniel Seng-Cheng Yeo. He has vast experience in finance and a Hong Kong Securities SFC1RO qualification for the type «2» license.
Pros and Cons of Pionex
Certainly, along with noticeable advantages, there are some disadvantages.
Let’s look at them in order:
Pionex: Pros ✔
- A high level of usability for beginners;
- No monthly subscription payment and the lowest commission of 0.05%;
- 16 various trading bots ready to start;
- Licensed by MBS (USA) and MAS (Singapore);
- Availability of a high-quality Pionex app for mobile devices;
- Pionex customer support service via Live Chat, e-mail and social networks;
- A large amount of educational materials.
Pionex: Cons ❌
- Only built-in bots without the ability to create and adjust your own;
- A custody wallet.
How safe and secure Pionex is?
The platform provides a high level of customer data storage by 2048-bit encryption, as well as through the use of Hardware Security keys FIDO2.
The question «Is Pionex legit?» can answer the presence of two licenses issued by the Monetary Authority of Singapore and MoneyServicesBusiness by FinCEN USA.
Pionex Pricing and Plans
The Pionex platform provides trading bots completely free of charge, so there are no Pionex plans or pricing here. When making trading orders, the platform withholds a minimum fee of 0.05% of the transaction. Traders do not incur other expenses when using Pionex services.
Despite the absence of a monthly payment, the platform can give odds to such competitors of Pionex as Bitsgap, CryptoHopper, Quadency and others.
How to start using Pionex
There is nothing easier! To do this, you just need to fill out a short form, indicating your email address or phone number and invent a password. Then, receiving confirmation by email or SMS, you should verify your account. After that, you can deposit the desired amount in cryptocurrency and start trading.
What exchanges does Pionex support?
Currently the Pionex supported exchanges are Binance and Huobi Global. This platform is the essential broker for the first exchange and the largest MarketMaker for the second one. In addition, it is the first platform to combine the liquidity of these two exchanges.
What can you do with Pionex?
By choosing one or another ready-made trading strategy, you can start making profit while your bots are working 24/7.
- Trading. The Pionex software offers adjusted automated trading solutions for profitable trading of more than 300 types of cryptocurrencies on the Binance and Huobi exchanges.
- Cryptocurrency Trading bot. There are 16 different pre-configured trading bots designed for specific trading strategies. Among them are such bots as GridTrading, LeveragedGrid, MarginGrid, InfinityGrid, ReverseGridBot, LeveragedReverseGrid, Martingale, Rebalancing, StopLimit, DCA, TWAP, TrailingTakeProfit, BTC- and ETH-Moon bots.
- Signals. Capturing the slightest market signals, the Pionex Smart Trade bot makes simultaneous purchases and sales using the StopLoss and TakeProfit functions, making profit in an uptrend.
- Crypto Arbitrage. The Pionex Arbitrage bot is designed for trading on spot and futures markets.
If you decide to try yourself as a crypto currency trader, this is a good choice for you, as:
- The platform interface is intuitive and uncomplicated;
- Bots are already configured and ready to go;
- There are many training videos and other materials. Moreover you can contact the support team to get the answer to your question;
- There is no monthly fee, and the commission from the transaction is minimal;
- You do not need a large amount of initial capital: you can try even with USD 20.
Although, this platform may well suit experienced traders as well.
Thus, you just have to choose a trading strategy and start earning.