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Pionex Review 2021 – The Best FREE Crypto Bots Right Now

Pionex Review 2021 - The Best Free Crypto Tradiong Bots?
  • Easy To Use?
  • Cost
  • Profitability
  • Time Needed
4.8

Welcome to my Pionex Review. Please watch my full review below. I also have various resources that will help you learn more about this company and get your bots up and running.

Open A Pionex Account Here –> https://www.pionex.com/en-US/sign/ref/ZFW8mIMq

Extra Resources

Company Info At Bloomberg- https://www.bloomberg.com/news/articles/2020-09-28/crypto-broker-sees-users-drawn-to-bots-to-beat-volatile-trading

Grid Bot Setup Guide – https://www.pionex.com/blog/pionex-grid-bot/

Spot Futures Arbitrage Bot Setup Guide – https://www.pionex.com/blog/pionex-arbitrage-bot/

Leveraged Grid Bot Setup Guide – https://medium.com/pionex/new-trading-strategy-leveraged-grid-on-pionex-46bb117c7bbe

Margin Grid Bot Setup Guide – https://medium.com/pionex/new-trading-strategy-credit-grid-on-pionex-edb385702b96

Reverse Grid Bot Setup Guide – https://medium.com/pionex/new-trading-strategy-reverse-grid-on-pionex-68605955c1bd

Infinity Grid Bot Setup Guide – https://medium.com/pionex/pionex-infinity-grid-bot-9a14a75c80df

Traling Take Profi Bot – https://medium.com/pionex/pionex-trailing-take-profit-bot-56fd00901d5e

The Difference Between Grid Trading & Infinity Grid Bots – https://medium.com/pionex/the-difference-between-grid-trading-and-infinity-grids-bot-fb3167eb92a2

Open A Pionex Account Here –> https://www.pionex.com/en-US/sign/ref/ZFW8mIMq

Pionex Review 2021

What is Pionex?

Pionex is a cryptocurrency exchange—an open, organised marketplace designed specifically for trading crypto and one that offers free automated trading tools.

Backed by BitUniverse, Pionex was one of 2020’s fastest-growing trading platforms in Asia and is trending to capture the same claim in 2021. It holds a US Money Services Business (MSB) license, with a Monetary Authority of Singapore (MAS) license pending.

Pionex’s global CEO Daniel Seng-Cheng Yeo brings three decades of experience in the finance sector to the exchange. His CV includes service with the Hong Kong SFC Securities, KGI Futures Ltd., Founder Futures Ltd., Goldman Sachs, and HSBC.

A Newbie but a Solid Contender

The recentness of Pionex’s launch means that the exchange is still in its proving-ground stages. However, the caliber of its leadership team, its posture on trading strategies, and its free, accessible automated tools position it to capture increasing percentages of the trading pool.

At the end of January 2021, Steve Walters in Coinbureau reported a £21.38 million daily trade volume for Pionex. A February 2021 Bitcoin news post described the exchange as one of the biggest Binance brokers with around 100K users.

How is Pionex Different from Other Exchanges?

The offering that sets Pionex apart from many other exchanges is its trading bots. It offers twelve different automated bots on its platform. We’ll dive into those below.

What are Bots?

Bots are software programs that operate on the Internet and perform tasks. They utilize artificial intelligence to carry out actions directed by algorithms with pre-set parameters.

Bots are automated worker bees. In the field of trading, bots buy, sell, and hold assets, working 24/7, managing market volatility, and enabling investors to massively scale their trading activities.

There are three main types of trading bots: trend-trading, arbitrage, and market-making.

Trend-trading Bots

These bots monitor the directions assets are moving and try to capture gains based on those movements. When traders use take-profit or stop-loss provisions, trend-trading bots help avoid losses and net out gains.

Market-making Bots

These bots monitor the market spread—that is, the difference between the selling price (the “ask”) and the buying price (the “bid”). When the difference results in a profit, the bot executes the trade.

Arbitrage Bots

These bots monitor activities across multiple markets simultaneously and take advantage of price differences for assets between the markets.

Why Use Bots?

In his guide to using crypto trading bots, Declan Igoe states these five advantages of using bots:

  1. They allow for emotionless trading. Cryptocurrencies are volatile and require emotional energy and stamina in the trading arena. Trading bots keep human psychology out of the way.
  2. They trade rapidly. No human trader can compute and transact as fast as a bot.
  3. Bots provide simulation/testing environments for traders to learn, evaluate, and explore new strategies.
  4. Bots can minimize risk by making it easy to have a diversified portfolio.
  5. They support discipline in trading. Bots operate on rules that provide consistency and steady performance.

Open A Pionex Account Here –> https://www.pionex.com/en-US/sign/ref/ZFW8mIMq

Pionex’s Bot Line-Up

As the first cryptocurrency exchange to exclusively promote trading with bots, Pionex is establishing its place in the crypto trading industry.

Pionex dominates other exchanges in two ways:

  • It offers trading bots—for free
  • It doesn’t just offer one or two bots; it offers 12

In their recent and short history of automated crypto trading, bots have gained appeal but have also had their drawbacks. They’ve been complicated; that is, traders have needed at least some programming ability to change bot coding and to be able to monitor them. The bots have also required rental or purchase.

Between the need for some programming ability on the part of the trader and the cost to rent or buy them, bots have not been easily accessible tools for the trading masses.

Pionex changed that dynamic by providing built-in bots on its platform for free. The only cost involved is a trading fee when users execute trades. This is related to the trading transaction and not to the bot use.

Pionex’s Grid Trading Bot

First, a word about grid trading.

Grid trading is a strategy in which traders set up buy and sell orders inside of specified price ranges. Smaller price ranges can be set inside the larger ranges. Each small range is its own grid. A stack of several small price ranges, designed to increase the likelihood of triggered trades, is a stack of grids.

The more grids, or ranges, the trader sets, the more trades he or she will complete.

Grid trading is an established and profitable trading strategy. It is especially useful in the crypto environment to help offset volatility and manage risk. Sideways markets that have no clear direction are good environments to implement grid trading strategies. In these market environments, if the price stays within the grids, the bot will always buy or sell a small amount when the price goes down or up.

Pionex’s Grid bot is a great basic bot for traders, especially those new to automation. The grid bot is at work all the time, securing small, stable profits even in a volatile market. If the price goes above or below the set range, the bot doesn’t work. It goes back to work when the price returns to the user’s set range.

Infinity GRID Bot

This bot is a premium version of Pionex’s grid trading bot. Whereas the grid trading bot requires investors to set limits in numbers, the Infinity bot works with percentages and no upper limits. Users may set parameters themselves or use an AI advisor to suggest parameters. Suggested parameters are built on the previous 30 days’ back-tested market data. This is a good bot for users who think the market is going to go up, since there are no upper limits.

Margin GRID Bot

This bot allows users to run it without using their coins.  It designates a user’s coins as collateral against a loan, and the loan provides the funds for the trading. Users can earn a profit from their trades without using their coins.

The Margin Grid bot also allows users to short a trade or go long without selling their coins.

Leveraged GRID Bot

This bot is designed for users with some automated trading experience. It boosts/leverages grid profits in markets that are trending upward. The parameters that must be set include the lower limit, upper limit, grid amount, margin (pledged funds), available margin/loan (funds the user gets), borrowable fund, daily interest, and estimated liquidation price.

Reverse GRID Bot

A bot designed to yield profits in a falling market, the Reverse Grid strategy can be described as “sell now, buy later.” Users select a trading pair, set upper and lower price range limits, set number of grids and spacing type, and choose the amount they want to invest.

Leveraged Reverse GRID Bot

This is the Reverse GRID bot on steroids for users who want to really amp up their trading results. Trades can be leveraged by 1.2x, 1.5x, 2x, and 3x for mega results.

Trailing Take Profit Bot

The Trailing Take Profit bot helps users always sell close to the top of a pump. It avoids the scenario where an investor sells an asset and then wishes they hadn’t because the price keeps rising after they sold. Pionex offers two types of this bot, the “I have Coin” option and “I Don’t Have Coin.”

DCA Bot

DCA, or Dollar-Cost Averaging, is considered among the simplest of trading strategies. Users set a dollar amount that they wish to invest, and they make that dollar-amount purchase at regular, set intervals. The asset price is not a factor in the purchase.

Pionex’s DCA bot lets users make purchases at 10-minute, hourly, daily, weekly, or monthly intervals.

Arbitrage Bot

Arbitrage refers to the buying and selling of assets across multiple markets to take advantage of price differences for that asset in the different markets. Pionex’s Arbitrage bot allows users to capitalize on market inefficiencies to net 15-50% APR in profits.

This bot also helps users take advantage of the high volatility of the cryptocurrency spot market. Coins can surge and correct by large percentages on any given day, and the bot can grab trades to net out nice profits.

Smart Trade Bot

Pionex designed this bot to allow users to minimize account risk while still netting profits and capitalizing on market trends.

Trailing Sell Bot

This bot places a trailing stop on orders to limit potential losses.

Trailing Buy Bot

The Trailing Buy bot adds to a user’s position while the price is falling, then stops buying when the price reverses and heads higher.

TWAP Bot

Time-weighted average price, or TWAP, is the average price of an asset over a defined period. The TWAP bot lets users buy or sell large lots of crypto as multiple small orders.

About Pionex Assets and Fees

Pionex offers a low 0.05% fee for all trades. Those who qualify for Pionex’s market maker programs (anyone with over 150,000 USDT or equivalent in other crypto deposited at Pionex) enjoy 0% maker fees.

Pionex supports manual trading in addition to automated bot trading. The platform offers 120 different cryptocurrencies and hundreds of trading pairs.

Pionex Resources

Platform Apps

Use the Pionex trading platform as a web-based app or download the app on Android or iOS. Updates and new features release to mobile apps first and the web-based app second.

Customer Service

Support is available via email or Telegram.

Pros and Cons

Pros: Pionex provides simple access to automated cryptocurrency trading. Users can register, make a deposit, and set up a GRID trading bot very quickly. The low trading fees (0.05%) apply to both manual and automated trading. Pionex bots are reliable and can yield stable, consistent profits.

Cons: Fewer grid numbers are available than on other trading platforms (150 compared to 500). However, this number is set to increase. There are some data update delays that can cause slippages. No neutral/biodirectional bot is available. Not designed for making large profits quickly.

Wrapping It Up

Pionex has carved out its niche as the go-to crypto trading platform because of its raft of free, built-in, easy-use trading bots and low trade fees. Accessible to new users, it is also beneficial for established traders looking for stable and steady returns.

This is a review for Pionex.com

I’m Jon, owner of Trade Wise at https://tradewise.community/ and https://www.youtube.com/channel/UC7VmOx8DbvX4Rbrac2pPcjw
I review forex and crypto trading products and services to find the best of what’s out there for creating a passive income without becoming a full-time trader.

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