Pros
Cons
Quick Summary
| Headquarters Location | International |
|---|---|
| Fiat Currencies Supported | USD, AUD, GBP, CAD, EUR, NZD + 84 others (some through third party apps) |
| Total Supported Cryptocurrencies | 329+ |
| Trading Fees | 0.05% |
| Deposit Methods | Bank Transfer, Debit Card, Credit Card, Cryptocurrency, Apple Pay, Google Pay, AlchemyPay, Banxa, Simplex, Volet.com |
| Support | Twitter, Live Chat, Help Center Articles, Support Ticket |
| Mobile App | Yes - iOS, Android |
From its humble beginnings in 2019, Pionex has become popular in the crypto space because of its innovative approach to trading.
Pionex’s main features include low trading fees (one of the lowest among its competitors), a selection of advanced trading bots, and high liquidity sourced from exchanges like Binance and Huobi.
Pionex comes with a blend of affordability and functionality, which creates an important balance for crypto enthusiasts. The platform also offers features such as leveraged tokens, crypto loans, and earning options for cryptocurrency users.
About Pionex
Since its inception in 2019, Pionex has quickly become popular because of its many standout features. The exchange has built-in crypto trading bots to enhance users’ experience in crypto trading. It also offers a wide range of cryptocurrencies and a large daily trade volume.
It’s worth mentioning that Pionex’s success story can also be attributed to industry veterans from companies such as Cheetah Mobile, Alibaba Group, and Baidu. Such an impressive background further gains the trust of traders globally.
Pionex has a number of active social profiles including Facebook, Twitter, Instagram, LinkedIn, Discord, Reddit, Telegram and YouTube.
Pionex has a mobile app on both the Apple App Store and Google Play.
Pionex Supported Cryptocurrencies
Pionex supports trading on over 329 cryptocurrencies on their platform. This exchange currently supports 25 of the top 30 market cap cryptocurrencies.
Download full list of cryptocurrencies Pionex supports
Trading Experience
The Pionex trading platform is known for its trading bots, which are designed to complement different crypto trading strategies. Depending on one’s trading style, it supports everything from futures trading to spot trading.
The Pionex Mobile Experience
The Pionex mobile app combines efficiency and simplicity for its users. It works on both Android and iOS platforms and has functionalities that secure transactions and promote efficient account administration.
The main feature of the Pionex mobile app is its straightforward design, which makes it easy for beginner crypto traders to understand. This emphasis on optimizing the mobile experience ensures uninterrupted access to trading even if you are on the move.
Pionex’s Trading Bots
The Pionex platform provides specialized bots such as Grid Trading Bot, DCA Bot, and Arbitrage Bot. These advanced trading tools are designed to meet every investor’s preferences without incurring extra costs.
Crypto traders are allowed to customize the platform’s trading bots. You can use pre-configured bot strategies or customize them according to your needs (and risk appetite). So, it’s really up to you if you want to move toward adventurous investments or be cautious in your financial decisions. Whatever the case, there’s a Pionex trading bot suited to your investing style.
Enhancements like AI 2.0 refine Pionex’s offerings through improved backtesting precision and increased grid profitability assistance (from advanced quantitative algorithms). This setup exemplifies the advanced AI capabilities integrated within Pionex’s Grid Trading system.
Pionex Fees
Pionex has positioned itself as an affordable platform by charging 0.05% per trade for both makers and takers, which is a lot less than the rates offered by major competitors such as Binance.
Pionex also ensures that its withdrawal fees are reasonable, varying according to the specific cryptocurrency network and the KYC status of the user account involved.
To this pricing structure, Pionex gives incentives to heavy traders through its VIP tier system, which makes it attractive for those who carry out large numbers of transactions frequently.
| Type | Fee |
|---|---|
| Deposit Fee (Bank Transfer) | Free |
| Deposit Fee (Credit/Debit Card) | $0.30 + 2.9% per transaction |
| Trading Fee | 0.05% |
| Withdrawal Fee (Bank Transfer) | Vary |
Pionex supports a range of different cryptocurrencies with varying withdrawal fees. When looking at Bitcoin, their withdrawal fee is 0.000068 BTC. The average across all other exchanges that we've reviewed is 0.000380 BTC. This means Pionex charges below the industry average by 82.11%.
Pionex has a maker/taker fee schedule which you can see below.
| VIP Status | Spot & Leveraged 30D Trading Volume(BTC) | Spot Maker/Taker | Leveraged Maker/Taker 0.100%0.100% | Futures 30D Trading Volume (USDT) | Futures Maker/Taker |
| Regular VIP | > 0 | 0.050% 0.050% | 0.100% / 0.100% | > 0 | 0.020% / 0.050% |
| VIP 1 | ≥15 BTC | 0.045% 0.050% | 0.090% / 0.090% | ≥ 1,000,000 | 0.015% / 0.045% |
| VIP 2 | ≥ 30 BTC | 0.040% 0.050% | 0.080% / 0.080% | ≥ 5,000,000 | 0.010% / 0.045% |
| VIP 3 | ≥ 75 BTC | 0.035% 0.050% | 0.070% / 0.070% | ≥ 10,000,000 | 0.005% / 0.040% |
| VIP 4 | ≥ 120 BTC | 0.030% 0.050% | 0.060% / 0.060% | ≥ 60,000,000 | 0.005% / 0.040% |
| VIP 5 | ≥ 180 BTC | 0.025% 0.050% | 0.050% / 0.050% | ≥ 100,000,000 | 0.000% / 0.035% |
| VIP 6 | ≥ 300 BTC | 0.020% 0.050% | 0.040% / 0.040% | ≥ 250,000,000 | 0.000% / 0.035% |
| VIP 7 | ≥ 750 BTC | 0.015% 0.050% | 0.030% / 0.030% | ≥ 500,000,000 | 0.000% / 0.030% |
| VIP 8 | ≥ 1500 BTC | 0.010% 0.050% | 0.020% / 0.020% | ≥ 1,000,000,000 | 0.000% / 0.025% |
Security - Is Pionex Safe?
Pionex protects users’ assets by establishing strong security measures. The platform is authorized and legally certified to function internationally as a virtual asset service provider.
To safeguard user accounts, Pionex uses two-factor authentication through Google Authenticator for email and mobile validations. Other security measures include withdrawal address whitelisting and individual passcodes for users.
In terms of data protection, the platform applies encryption techniques and stores a substantial amount of digital assets offline (in cold storage). It also employs safety mechanisms that trigger the freezing of funds if any unusual activities are detected.
Pionex Customer Support
The Pionex customer service team takes great pride in offering prompt assistance to its users, whether they have simple inquiries or major issues. In fact, the company has a high rating on Trustpilot in terms of customer satisfaction.
Pionex’s high rating shows its dedication to fulfilling its users’ needs and ensuring a positive experience when using its services.
You can reach customer support through their social media accounts or visit their Help Center for articles. Or, if you really need their help right away, you can submit a support ticket.
Pionex Support Channels
Pionex Trading Bots
Pionex crypto trading bots are AI-powered tools designed to accommodate many trading strategies under different market scenarios. For example, the PionexGPT enables the automation of a particular trading strategy, and a Spot-Futures Arbitrage Bot is made to exploit pricing discrepancies across markets.
These trading bots by Pionex significantly enhance your crypto trading capabilities. We’ll discuss them more below.
Trading with PionexGPT
As a Pionex trading bot, the PionexGPT allows traders to use artificial intelligence within the platform to help them in their trading endeavors. The bot employs GPT to automate Pine Script code and harnesses natural language processing with advanced code generation. It also enables users to design and customize their unique trading strategies and delivers analytical insights. It even includes a collection of pre-designed strategies ready for immediate use.
PionexGPT increases trading efficiency within its Grid Trading Bot functionality. Using AI algorithms, it also promotes ideal configuration settings obtained from past backtesting data.
Custom Strategies with Pine Script Codes
With customized Pine Script codes, PionexGPT equips traders with tools that allow them to evaluate and improve their trading methods, implement automated trading systems, and use advanced trading functionalities.
Strategies with Pine Script codes work by inputting a strategy idea into PionexGPT and producing a PineScript code that can then be transferred into TradingView’s PineEditor. This allows for comprehensive fine-tuning of one’s trading strategies. Once perfected in TradingView, this customized strategy can be converted into an operational Signal Bot within the Pionex platform (so that it can act on alerts from TradingView).
Trading with Dollar Cost Averaging Bot
Pionex features the Dollar Cost Averaging (DCA) bot, a trading tool designed to alleviate the effects of market volatility on large investments. This bot automates the DCA strategy by executing fixed-dollar purchases of a chosen cryptocurrency at regular intervals (reducing the average investment cost and potentially increasing profits amid price swings).
The flexibility afforded by Pionex’s DCA bot enables users to determine how frequently acquisitions should occur (daily, weekly, or monthly) and choose the specific cryptocurrency and the exact amount they wish to invest each time.
Grid Trading Bots
Pionex’s Grid Trading bot can automatically execute purchases at lower prices and sales at higher prices. This bot enables traders to set up a system that acquires cryptocurrency at the present market price while also placing orders to sell above and purchase below that price. By doing so, traders can take advantage of market volatility and increase their profits.
Keep in mind that the grid bot isn’t just an automated tool. The leveraged grid bot has advanced settings such as trigger price, profit-taking levels, stop-loss parameters, slippage controls, and varying grid structure and investment allocation modes.
Trading With Arbitrage Bots
Pionex Bots offer arbitrage opportunities. Traders looking to capitalize on price discrepancies between exchanges can use the platform’s Arbitrage Bot. This bot is designed to exploit price differences between two different cryptocurrency exchanges by buying crypto at a lower price on one exchange and selling it at a higher price on another.
Arbitrage trading can be profitable but requires precise timing and a deep understanding of market dynamics. By automating this process, the Arbitrage Bot removes the need for constant monitoring and quick decision-making, allowing traders to focus on their overall trading strategy. This feature, when combined with Pionex’s other advanced automated trading bots, can make the platform a powerful tool for novice and experienced traders.
Earning Passive Income Through Staking
Pionex provides an alternative to trading to earn passive income from cryptocurrencies through staking. By locking in their digital currency holdings, users can earn incentives. Pionex is offering these staking services specifically for ETH and USDT.
The platform offers a range of timeframes for ETH staking, allowing investors to opt for a period that best suits their investment strategy. The potential earnings from engaging in Pionex’s staking can be calculated using an established formula based on the overall amount of assets put into staking, the specified annual percentage rate (APR), and the duration chosen by the user.
Pionex has also implemented an auto-reinvest feature in its staking offerings. This feature allows you to reinvest funds into another identical round of stakes after the completion of the original term, which is really cool. This feature allows for the continuous generation of passive income.
Pionex Legal and Regulatory Compliance
Pionex adheres to all the necessary legalities and financial statutes to maintain its standing as a reputable cryptocurrency exchange. The company has a United States Money Services Business (MSB) license and falls under the regulatory scope of Singapore’s Monetary Authority (MAS).
Pionex also complies with global and domestic Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) standards required by several authorities and laws, such as the Financial Action Task Force, Bank Secrecy Act, USA PATRIOT Act, and comparable laws within the European Union, United Kingdom, Canada, and Hong Kong.
Please be aware that Pionex intentionally refrains from offering its services in areas where they would conflict with local rules and regulations.
How to Sign Up on Pionex
- Create Account - Visit the Pionex website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
- Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
- Transferring Funds - Once your account has been verified, you can deposit using the deposit methods listed below, including some options through third party apps.
- Start Trading Crypto - That's it! You should now have everything in place to start trading.
Deposit Methods
Pionex Alternatives
Binance
Total Supported Cryptocurrencies
391+
Trading Fees
0.10%
Fiat Currencies Supported
USD, GBP, CAD, EUR, NZD + 75 others
Kraken
Total Supported Cryptocurrencies
282+
Trading Fees
0.08% - 0.40%
Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR + 1 other
OKX
Total Supported Cryptocurrencies
333+
Trading Fees
-0.005% - 0.10%
Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 85 others
Final Thoughts
Pionex distinguishes itself from other cryptocurrency exchanges with its advanced trading features and extremely low trading fees. Its wide array of free trading bots, security protocols, and AI-powered features deliver a trading experience that appeals to beginner and experienced traders.
Prioritizing progressiveness and user-friendliness, Pionex is a dependable platform for crypto fans.
Pionex FAQs
The exchange is licensed by the U.S. FinCEN’s MSB (Money Services Business), which suggests adherence to certain regulatory standards. However, like with any online platform, users should perform their own due diligence and review user experiences and security practices before trading.
To withdraw money from Pionex to your bank account, you typically need to convert your cryptocurrency into a fiat currency that Pionex supports for withdrawal. Then, you can request a withdrawal to your bank account, following the platform’s procedures.
This usually involves verifying your bank details and completing KYC (Know Your Customer) requirements.
Pionex offers a user-friendly interface and automated trading bots, which can be appealing to beginners. These features might help new users start trading without extensive crypto market experience.
However, beginners should be cautious, take time to understand how the bots work, and consider any risks involved with trading.
Pionex is available to users in various countries around the globe, and users from Australia can generally register and use the services offered by Pionex. However, it’s important to ensure compliance with local regulations and to be aware of the rules that apply to cryptocurrency trading in your jurisdiction.
Pionex is a real cryptocurrency exchange platform that offers automated trading services. It’s recognized for its trading bots and has been mentioned in various crypto publications and news articles.
Pionex provides features that could be beneficial for day trading, such as a range of automated trading bots that can operate round-the-clock. However, users should know the potential risks and understand how to use these tools effectively.
Pionex charges trading fees for transactions made on its platform. These fees vary depending on the trade’s size and the type of trading bot used.
Pionex User Reviews
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Methodology
At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details.
About The Authors
James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency.
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