Pionex Review — Simple trading bots for passive traders

Pionex provides tools for trading automation. In this article, we will review Pionex and its trading bot.

Overview

Automated Trading Bot is a rising trend for crypto traders. Several crypto trading bot platforms using API Keys to let traders execute their strategies 24*7. Therefore, we don’t need to stick with the chart for the whole day with the help of a crypto trading bot. On the other hand, while more traders are embracing automated trading bot, Pionex is trying to help traders with easy in-built trading bots with an integrated exchange.

Summary

  • In-built Crypto Trading bots — Provides 9 different automated trading tools in the exchange.
  • The Lowest Trading Fees — The bots are all for free while the exchange trading fees is only 0.05% for maker and taker.
  • Excellent Liquidity — Innovative liquidity engine aggregates the liquidity from Binance and Huobi.
  • Regulated — Regulated in Singapore and the United States.

Features

Trading Bots

9 Automated Trading Bots provided. (More coming up!)

Grid Trading

Grid Trading

  • GRID Bot (Grid Trading Bot) — GRID Bot is the rising star between several crypto trading bots. It’s an old but powerful trading strategy which profits from the fluctuated market. All you need to do is to set a range for it, and it’ll help you to automatically “buy low and sell high” within the region.
  • Infinity Grids Bot — While using GRID Bot, you might missed the trending profit when the price pump. And that’s the time Infinity Grids Bot stand out. Infinity Grids Bot is similar to GRID Bot but without an upper limit. It still helps you to “buy low and sell high‘ 24*7, but that portion of the funds is relatively small compared to GRID Bot.
  • Leveraged Grid Bot — Combining GRID Bot with a crypto-loan feature is how exactly the Leveraged Grid Bot work. The whole concept is still the same as GRID Bot, but with leverage (up to 3x), you can earn more profit with your principle. BUT! Leveraged also means that there’s a chance for liquidation, mind the risk before using it.
  • Margin Grid Bot — Similar to Leveraged Grid Bot, but the collateral won’t involve the Grid Bot in Margin Grid Bot. You can also choose LONG or SHORT while using Margin Grid Bot.
  • Reverse Grid Bot — Reverse Grid Bot is a smart strategy to increase your quote amount with the grid trading strategy. It sells your Bitcoin at a higher price and repurchases them at a lower price.
  • Leveraged Reverse Grid Bot — Combining Reverse Grid Bot with a crypto-loan feature will get Leveraged Reverse Grid Bot. Same functionality as Reverse Grid Bot, but you can use leverage to earn more profit. Still, mind the risk for the liquidation while using leverage trading.
  • DCA Bot (Dollar-cost averaging) — Dollar-Cost Averaging is a useful tactic to invest in the crypto market. You can set the period for your DCA plan, and the bot helps you to DCA rather than do it manually.
  • Trailing Take Profit Bot — Trailing Take Profit is one of the well-known strategies. Cause the volatility market in the cryptocurrency market, and it’s tricky and easier to use a TTP bot for scalping.
  • TWAP Bot — If you’re a whale, then you should be familiar with the TWAP method. It helps you to accumulate or sell your bags in a period of time.

Liquidity Aggregated Engine

Pionex is the first exchange that aggregates the liquidity from the Binance exchange and Huobi Global exchange. 

Before going deeper on this topic, let’s walk through the order book first.

Pionex Orderbook

Pionex Orderbook

According to the CTO of Pionex, Pionex can aggregate 50~60% of the orders from Binance and Huobi. Because even in Binance and Huobi, there’re some fake orders on the order book. So it’s not possible to aggregates the whole 100% from Binance and Huobi, as long as they’re capable of distinguishing the fake one from the others.

But even with the 60% of the liquidity from Binance and Huobi combining, it’s enough for their users to use the automated trading bots on Pionex.

The Lowest Trading Fees — 0.05%

Be a part of Binance and Huobi’s market-maker; that’s how Pionex aggregates the liquidity from these exchanges. And being a market maker, Pionex enjoys VERY LOW trading fees on Binance and Huobi. That’s why Pionex only charges 0.05% from their users, and still can enjoy the privilege of Binance and Huobi liquidity.

Pionex Dashboard

Pionex Dashboard

Pionex offers a market-making program for its users. As long as you have more than $100,000 assets in Pionex, you can apply for the program and enjoy 0% maker fees.

How to use a GRID Bot on Pionex

Pionex is the first one that brought GRID Bot (Grid Trading Bot) into the crypto world and made it well-known to crypto traders all over the world. Even 3Commas, Bitsgap, TradeSanta, and other crypto trading bot platforms follow the UI/UX of Pionex GRID Bots.

Deposit funds

To start with Pionex, first you need to deposit funds

Choose a Trading Pair and Set the Parameter for GRID Bot

There’re two modes for using a GRID Bot. If you’re new to the GRID Bot, you can use the AI Strategy to set up your GRID Bot. You’re also allowed to set up your own strategy for using Set Myself mode.

How the “AI Strategy” Mode of the Grid Bot Works

  1. The bot estimates the coin volatility over the past seven days. Based on this, the bot establishes the upper and lower values of the channel or range for inner swing trading.
  2. The Grid Bot then splits the amount allocated to your chosen trading pair. It sets up a grid of limit buy and sell orders within the selected channel. Thus, as soon as the price reaches one of the lines above the current price, the bot will sell X, taking profits in Y. When the price goes down — it will buy Y. And so on infinitely, while the price remains within the channel.
Grid Trading

Grid Trading

How the Grid Bot Works in Set Myself Mode

In the Set Myself mode, you can independently adjust the price range, the number of grids, and the distance between them. These adjustments will allow you to improve the strategy with the appropriate knowledge. When working in the manual mode of the Grid Bot, remember that the minimum distance between grids must be greater than the size of the commission multiplied by two (fees for sale and purchase) for the bot to trade in profit.

Check the Performance Every Day

Pionex provides comprehensive data about the performance of your GRID Bot. With the GRID Bot data, it’s easy for crypto traders to check the performance.

Pionex Performance

Pionex Performance


User Experience of Pionex — Mobile First!

Pionex has the best UI/UX for their mobile App among all the Crypto Trading Bot Platforms. They always follow the mobile-first rule, which they released the new features on the mobile App before the website. Checking their app update on App Annie, the most well-known mobile performance data company worldwide, lots of updates for their App with new features. 6 versions in April, and 5 till now in May!

Download Pionex App

Regulated in Singapore and the United State

Pionex has granted by the U.S. FinCEN’s MSB (Money Services Business) License. It’s the same license that Binance, Huobi, and multiple top exchanges applied. Pionex is the first cryptocurrency exchange with in-built trading bots that granted by the U.S. license.

Pionex Pros and Cons

Pros

  • Best for beginners
  • Provides 9 different automated trading tools in the exchange.
  • The bots are all for free while the exchange trading fees is only 0.05% for maker and taker.
  • Mobile app available
  • Innovative liquidity engine aggregates the liquidity from Binance and Huobi.
  • Regulated in Singapore and the United States.

Cons

  • No support for custom trading strategies
  • Limited trading bot options
  • Custodian Solution

Conclusion

If you’re a crypto trader who loves using crypto trading bots, Pionex will be your first choice. Don’t hassle with the API Keys and the unstable performance of the API keys. Move to Pionex and start using its in-built automated trading bots. The fees are the lowest compared to all the other exchanges, which save you tons of profit while using the bot.

Pionex team believes mobile-first, so the update for website UI/UX might be a bit late compared to its mobile App. If you prefer trading from your desktop, you should take a note on this part.

If you’re new to the automated trading bot, come and visit Pionex! Don’t have to pay for the expensive subscription fees for the bot services. 9 different crypto bots were provided on the Pionex Exchange. Start using it and tweaking it to fit your trading style.

Frequently Asked Questions

Is Pionex legit or safe?

Yes, Pionex is safe and legit. It has has granted by the U.S. FinCEN’s MSB (Money Services Business) License.

Does Pionex have mobile app?

Yes, Pionex has mobile app available on Android as well as iOS.

What are the trading fees?

Pionex is a crypto exchange with trading bot support, therefore it take .05% as maker and taker fee on every order.

Can I create trading bot on Pionex?

Pionex provides pre-built crypto trading bots which is best for passive traders. However, you can't create custom bots on Pionex.

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Summary
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Author Rating
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Aggregate Rating
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Software Name
Pionex
Operating System
Web
Software Category
Trading
Price
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