Pionex Detailed Review 2022 – Crypto Trading Bots & Exchange

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Crypto investments have been a critical matter of discussion in the past couple of years. As more and more people started to gain interest in crypto investments, the number of crypto trading exchanges also increased simultaneously. Currently, numerous crypto trading platforms help crypto investors reap the benefits of cryptos with minimal hassle. 

With so many choices available in the market, customer expectations also began to change. Thus, crypto exchange platforms began to leverage new and advanced technologies to meet those expectations. However, things were never simple with crypto, and many often failed to find the right crypto trading platforms for themselves. 

Fortunately, that began to change with the launch of Pionex in 2019. The platform was entirely new to crypto users as they could now use free integrated trading bots. Consequently, it did not take long for Pionex to become one of Asia’s fastest-growing crypto trading platforms. 

Now, after three years of Pionex, there is still a lot of misinformation that prevents crypto users from reaping the benefits of this platform. This has to change for good. Therefore, here is a detailed review of Pionex to help you better understand what this platform offers. Besides, this review will give you a deeper insight into all aspects of Pionex to help you determine if it is the right crypto trading platform for you.

Pros And Cons of Pionex

Pros

  • Trading bots
  • Competitive trading fees
  • Tutorials
  • Unmatched customer support
  • Access to over 120 cryptos
  • All trading bots are cloud-based

Cons

  • No deposits with fiat currencies
  • No demo account

Pionex At a Glance

Official Website  https://www.pionex.com/ 
Headquarters  Singapore
Founded in  2019
Trading Bots 18
Number of listed cryptocurrencies  120+
Supported fiat currencies  NA
Minimum deposit NA
Trading fees 0.05%
Withdrawal fees Variable
Customer support  Live chat and email

Pionex: Company Overview

Launched in 2019, Pionex is the world’s first crypto exchange that comes with in-built automated trading bots. The platform began to gain unmatched prevalence in 2020, with the Covid pandemic spiking people’s interest in crypto trading. As a result, Pionex has successfully cemented its name as one of the leading international crypto exchanges. 

This does not surprise me, given that Pionex provides users with 18 different trading bots free of cost. These automated bots are designed with the trader’s interest in mind and help automate crypto trading. As a result, traders need not worry about navigating through the nuances of crypto trading and can simply focus on simplifying their returns. 

With headquarters in Singapore, Pionex has over 100,000 monthly active traders, further allowing Pionex to reach a staggering trading volume of $5 billion every month. While many other crypto trading platforms have even trading volumes, the fast-paced growth of Pionex certainly sets it apart from others. 

But most importantly, the trading fees Pionex charges are among the most competitive in the market. Besides, the platform has many features and offerings that make it very easy to trade your cryptos with no hassle whatsoever. Now traders no longer need to monitor the market constantly, allowing them to look for better opportunities. 

[maxbutton id=”3″ url=”https://www.pionex.com/en-US/” text=”Start trading with pionex” ]

Cryptocurrencies Supported in Pionex

Pionex supports a wide range of cryptocurrencies, allowing traders to choose from over 120 different cryptocurrencies. Besides that, Pionex also offers traders numerous trading pairs, making it even easier and more convenient to trade cryptos. Some of the most prevalent cryptocurrencies you can find include:

 

BNT (Bancor) BTM (Bytom)
BTC (Bitcoin)  CAKE (PancakeSwap)
BUSD (Binance USD) ATA (Automata Network)
ANKR (Ankr) ARPA (AERON)
DASH (Dash) CTSI (Crust Network)
DOGE (Dogecoin) ETC (Ethereum Classic)
ENJ (Enjin Coin) FTT (FTX Token)
FLUX HUSD (HUSD)
GHST IDEX 
LUNA  MBOX

   

These are just a few of the many cryptocurrencies you can trade on the Pionex platform. This makes it clear that you will never run out of options regarding crypto trading with Pionex. 

Key Features of Pionex

There are many reasons why crypto traders are choosing Pionex over its competitors. But the distinct features and functionalities of this platform set this platform apart from others. 

Continue reading as we dive deeper into the key features of Pionex and understand how these features can benefit you as a trader. 

Trading Bots

Seamless access to 12 trading bots is one of the most defining characteristics of Pionex. Traders get a wide range of options to choose from while having the option to set different parameters. As a result, you can program the bots to perform according to your unique requirements as a trader. 

But the best quality about these bots is that they are integrated into the platform. Thus, the compatibility issue does not arise, and traders can benefit from these bots’ competence right after signing up for the platform. Also, your crypto-trading experience doesn’t make any difference here because the bots are here to simplify things for you. If you are new to crypto trading, you should use the AI 2.0 Grid Trading bot offered by Pionex.  

Immersive Trading Experience Via Mobile App

These days people do not enjoy being glued to their desktops for an entire day. Instead, most people now prefer to access the internet through their mobile devices. Keeping that in mind, Pionex provides its users with a user-friendly mobile application compatible with Android and iOS devices. 

This mobile app will give you seamless access to all the features and functionalities you get on the platform’s desktop version. Additionally, the user-friendly interface eliminates all clutter from crypto trading, so even the most experienced crypto trader can reap the benefits of Pionex. Most importantly, you can even use the mobile app to build bots and simplify your crypto trading with ease. 

pionex

Seamless Customer Support

Another area where Pionex stands out in the crowd is through the unmatched customer support you can get from the platform. This is a significant consideration for traders who are not well acquainted with the nuances of crypto trading. Thus, Pionex provides them with live chat and email support, ensuring speedy response. 

In most cases, you would not need to wait more than two minutes to resolve your issue by the platform. However, if the live support is not enough to resolve your query, you can always talk to customer support executives to resolve the issue. Currently, the live chat support is available from 00:00 to 13:00 (UTC+0), but this support will soon be extended to 24 hours very soon. 

Leverage Trading

Many crypto trading platforms offer users conventional trading features. However, crypto trading has evolved a great deal recently, and conventional trading does not cut it anymore. Therefore, Pionex provides its traders with the option of leverage trading, where they can get up to 3x leverage on specific coins. 

For instance, coins like VET, ALGO, EOS, and more have the leverage of up to 2x. On the other hand, more prominent coins such as ETH, XRP, BTC, BNB, and more can offer you a leverage of up to 3x. This provides an excellent opportunity for traders looking to maximize their profits while taking a little risk. Therefore, ensure you gain a little experience before reaping the benefits of leverage trading on the platform.

Additional Features Of Pionex                               

Those mentioned above are just the key features of Pionex, but its offerings do not just end here. The platform has many other additional features to ensure you have unmatched trading. So continue reading as we explore these additional features and understand how they can benefit you. 

  • Limit and Market Orders For Margin Trading: While automation is one of the strong suits of Pionex, it doesn’t limit the users from manual trading on the platform. This ensures you never miss out on the conventional crypto trading experience and enhances your knowledge about crypto. You can leverage the market order and limit order to trade your cryptos against USDT
  • Great Liquidity: Liquidity is one of the essential characteristics that differentiate between good and lousy crypto trading. Pionex falls on the good side of the spectrum as it provides traders with very deep liquidity. Most interestingly, the platform aggregates its liquidity from Huobi and Binance. As a result, Pionex is the biggest broker of Binance and the most significant market maker of Huobi.         
  • Numerous Tutorials: Another great thing about trading your cryptos on the Pionex platform is the huge library of how-to tutorials. Getting started with crypto can be an overwhelming experience for anyone, but Pionex simplifies things with its tutorials. You can access detailed explanations about different features of the platform, allowing you to make better use of them.
  • Affordable Trading Fees: Every crypto trader must worry about the trading fees exchanges seek. With Pionex, trading fees will not be a concern because the platform keeps things competitive with a trading fee of just 0.05%. Surprisingly, Pionex does even need you to match any given criteria to avail of the benefits of these low trading fees. So let the bots take care of the trading while you focus on amplifying your profits. 
  • Dual Investment: This is another distinct offering of Pionex that functions as a saving instrument. Here the floating income is not covered in the principal income. This means the yield of the commodity will remain fixed at the time of purchasing, but the settlement currencies can change. The settlement currency will be determined by comparing the pegged price on maturity and the settlement price. 

Trading Experience 

In terms of trading experience, users are only limited to one singular type of account. Every trader or investor will have access to the Pionex trading platform with 12 different bots to ease their trade and guide their setups. Overall, the platform seems to have an immersive trading experience as the instructions are straightforward for everybody. 

Fees Structure

Since its inception, Pionex has long maintained a reputation for charging competitive prices from its traders. Moreover, since the platform is a part of Biance and the market maker of Huobi, it allows Pionex to enjoy better-aggregated liquidity. Consequently, the trading fees of this platform are also meager, as it charges just 0.05% from its traders. Besides that, one can leverage the market-making program that ensures you pay a 0% makers fee as long as you have assets worth $100,000 on the platform. 

When it comes to deposits, you need to keep in mind that Pionex does not accept deposits via fiat currencies. Instead, traders need to make deposits using cryptos or credit cards. Making deposits with cryptos does not attract any fees from traders. However, if you are depositing funds with credit cards from countries outside of Europe, you will need to pay a 4.5% fee. On the other hand, crypto traders from within only need to pay a fee of 3.5% for credit card deposits. 

Then comes withdrawing cryptocurrencies from the platform. When traders withdraw cryptos from Pionex, they will need to pay a flat fee based on the crypto they are drawing. So let’s check out the list of withdrawal fees for some of the most prominent crypto coins. 

Cryptocurrency Minimum Deposit  Minimum Withdrawal  Withdrawal Fee
AAVE (Aave) 0.02 0.5 0.05
BTC (Bitcoin)  0.00005 0.0002 0.00001
ETH (Ethereum) 0.0005 0.05 0.0001
APE (ApeCoin) 0.2 2 1.5
BEL (Bella Cash) 0.004 0.04 0.00015
BNB (BNB) 0.002 0.025 0.0005
GALA (Gala) 2 100 1.5
LINK (Chainlink) 0.6 2 1
PAX (Pax Dollar) 1 50 25
SHIB (Shiby Inu) 200000 10000000 1000000

Is Pionex Safe?

Yes, security has been one of the significant offerings of the Pionex platform. Since its inception in 2019, there has not been even a single case of a security breach. Pionex takes its security screening seriously, adopting many measures to ensure the security and safety of its traders. 

Some of these security features you can find on Pionex include:

  • Aggregated Liquidity: As mentioned earlier, Pionex is widely known for aggregating its liquidity from prominent crypto exchanges Huobi and Binance. Additionally, this liquidity is aggregated around the ticker price of the underlying asset. Therefore, you never need to worry about liquidity when trading your cryptos with Pionex. 
  • Fully Licensed: One of the best things about using Pionex is you need not worry about your safety and security. The platform is licensed under the Money Services Business from US FinCEN. Additionally, the Money Services Business License registration number of Pionex is 310000188348895.
  • Backed By Prominent Investors: Any user that doubts the authenticity of Pionex can take comfort in the fact the company is backed by some of the most prominent global investors. These investors are ZhenFund, Gaorang Capital, and Shunwei Capital which amounts to $10 million.           

This way, Pionex makes itself one of the industry’s safest and most reliable crypto trading platforms. Besides, the platform also holds a record of standing out with its regular maintenance and bug bounty programs. 

Opening a Pionex Account

Creating an account or signing up with Pionex does not get any easier. However, even the most novice crypto trader can seamlessly create an account on the platform and start crypto trading in no time. Just follow these simple steps to create your account on Pionex.

Step 1: Visit Pionex’s official website and click on the ‘Sign Up’ tab visible on the top right-hand corner of the page. 

Step 2: Now, you can either sign up with your mobile number or email. 

Step 3: In this step, you will receive a verification code on your email or mobile number based on your provided credentials. 

Step 4: Now that you have the code, enter it in the given field and click on the confirm tab to proceed. 

Step 5: This is the step where you will need to fill up the KYC form, which you can choose to do even later. 

Step 6: If you have filled out the KYC form in this step itself, you can click on the Verify tab. Or you can click on cancel to access the desktop home screen instantly.  

Once done, you can now enjoy crypto trading with the intelligent trading bots of the platform. 

Customer Satisfaction With Pionex

Pionex has always taken customer satisfaction very seriously because this is the best way to ensure traders enjoy using the platform. Thus, the platform has taken many measures to ensure traders enjoy an unmatched experience and customer satisfaction. As a result, the platform offers a fantastic user and trading experience that will leave its make on basically anyone. 

Other than that, Pionex’s trading fees are very competitive with Pionex, so traders need not worry about the fees eating into their returns. This is an essential consideration because every trader on the platform came to make money, and the more they make, the more satisfied they are. However, the deposit charges for users from outside Europe could certainly benefit from some reconsideration.

Nonetheless, trading bots are an essential factor that aids in a better customer experience on Pionex. These bots take away most of the headaches from the traders as they no longer need to focus their time and effort on researching the market. Instead, they can simply employ the bots and simultaneously reap the benefits of automation and crypto trading. 

Therefore, it would be safe to say that Pionex has left no stone unturned regarding customer satisfaction. So check out Pionex and see if the platform meets your unique requirements as a crypto trader. 

Pionex Vs. Competition

Pionex is undoubtedly one of the leading crypto exchanges used by traders from all across the globe. But that does not mean it is the only crypto trading on the planet. Many other crypto trading platforms do their best to stand out and offer something new to customers.  

One such prominent competitor of Pionex is Kraken, which has many unique offerings for its users. 

Pionex Vs. Kraken 

Both Pionex and Kraken are among the leading crypto trading platforms currently available in the market. Consequently, there are both similarities and differences between both platforms. As a crypto trader, you must know these differences and similarities to make an informed decision. So check out this table below to get a better understanding. 

Criteria Pionex Kraken
Cryptos supported  120+ 130+
Maker Fee 0.05% 0.16%
Taker Fee 0.05% 0.26%
Withdrawal Fee 0.0005 0.0005
Credit No Yes
Fiat Deposit  No Yes
Allowed in The US Yes Yes
Derivatives Yes Yes
Launch Year 2019 2011
Trading Bots Yes No

Looking at this insightful comparison, it’s evident that Pionex takes the lead over Kraken in several instances, ranging from the fee to some advanced functionalities like trading bots. However, Kraken also continues to beats Pionex over fiat deposits and the use of credit. So, overall, Pionex takes the lead over several instances, making it the winner of our comparison. 

Read the Kraken full review>>>

Final Verdict

As you can see, the Pionex platform has several exceptional qualities that make it one of the best crypto trading platforms currently available in the market. However, that does not mean the platform is suitable for all users or is free from shortcomings. 

The platform still has some areas where it could improve itself. Therefore, let’s check the strong points and the shortcomings of Pionex to help you make a better and more informed decision when you’re confused with your options.       

Should You Consider Using Binance?

There are many reasons why Pionex has managed to attract such a broad customer base with minimal effort. So let’s check out some of Pionex’s qualities that make it different from other crypto trading platforms available in the market. 

  • Trading Bots: One of the best things about trading your cryptos with Pionex is access to 18 trading bots. These bots are designed to enhance your overall trading experience as they will conduct all necessary market research instead of you. As a result, you save more time and eliminate the hassle of dealing with the complexities of crypto trading. 
  • Competitive Trading Fees: Pionex has one of the lowest and most competitive trading fees any platform can offer in the market. The platform will charge a nominal fee percentage of just 0.05% on all transactions. Thus, trading fee is barely a concern for Pionex users. 
  • Unmatched Support: The platform’s unmatched support is another excellent quality for trading your cryptos on Pionex. Users can leverage live chat and email support to resolve all their queries. Furthermore, all the questions are resolved to ensure you have an uninterrupted trading experience.  
  • Tutorials: Pionex is one of those few crypto trading platforms that provide users with numerous tutorials. This is specifically great for all the beginners who are just getting started with crypto trading. 

Shortcomings Of Binance

Like many other crypto trading platforms, even Pionex has shortcomings. Here’s an overview of two of its most infamous shortcomings:

  • No Deposits With Fiat Currencies: Pionex does not accept deposits through fiat currencies. Instead, traders have to deposit their funds through credit cards or cryptos. There are no deposit fees for crypto deposits, but the platform charges for deposits made with credit cards. 
  • No Demo Account: Another shortcoming of Pionex is that it does not offer any demo account. This does not bother the advanced and seasoned traders, but it makes things challenging for beginners. 

As you can see, Pionex has both advantages and shortcomings, just as any other crypto trading platform. The platform is exceptional in terms of its offerings, while it also has some shortcomings that we might notice resolved shortly. 

With this, we come to an end to our Pinoex review! Now that you have read it here, we hope to have provided you with all the necessary information you need to gather for a confident account opening. However, if you feel it isn’t the right platform for you, we suggest you keep similar measures in mind when choosing the right crypto trading platform. This will help you make a better and informed decision for good. 

FAQs

 Do I have to pay for using the trading bots?

One of the best things about Pionex is it comes with in-built trading bots. Traders can access and leverage the potential of these bots as soon as they are done signing up with the platform. Most importantly, users can leverage these potentials without fees or charges.

 How reliable is Pionex?

When it comes to security and reliability, there is barely any other crypto trading platform that can match what Pionex has to offer. The platform takes many security measures to ensure the security of its users and their assets. Additionally, Pionex is licensed by the US FinCEN as a Money Services Business (MSB).

 Can I access the trading bots through the Pionex mobile app?

Pionex has user-friendly mobile applications compatible with both Android and iOS platforms. Users can also access every feature of Pionex's desktop version on the mobile application. Therefore, traders can even leverage the potential of the trading bots with the Pionex mobile app.

 Does Pionex offer leverage trading?

Yes, Pionex does offer its users the leverage trading feature that allows traders to enjoy the leverage of up to 3x in some coins. Based on the coins you are trading, Pionex will give the leverage of up to 3x to 2x. However, consider the risk associated with leverage trading before getting into it.

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