Pionex Review – Pros And Cons Of This Crypto Exchange

About Pionex

Pionex is a cryptocurrency exchange based in Singapore with built-in trading bots that allow users to create an automated crypto trading environment.

Pionex has two different platforms (although no demo account), one for citizens of the United States and another for all international users, both of which are accessible via the desktop or mobile app.

The major difference between the two is the latter offers earning opportunities through dual investments, and the former does not, but both platforms are virtually identical otherwise.

The Pionex trading platform is also well regulated and has acquired its MSB (Money Services Business) license by FinCEN.

If you want to learn all about Pionex’s services and whether or not they’re right for you, stick around for this in-depth Pionex review.

Pionex Crypto Trading

The Pionex exchange supports 346 coins and tokens, including well over 100 leveraged markets (up to 3x).

To start trading, you can either transfer preexisting crypto assets onto the exchange, make a bank wire, or purchase USDT with fiat currency via credit/debit card.

The Pionex trading interface is exceptionally user-friendly and includes charts powered by TradingView. The order books, transaction history, and market panel are also very readable.

Pionex has some of the lowest trading fees you’ll find in the crypto space, with a 0.05% maker and taker fee, which is 50% cheaper than one of the fee leaders among crypto exchanges, Binance (0.1%).

You can buy, sell, and swap within the exchange using limit, market, and grid orders. Grid orders are a way to trade ranges by buying and selling as price moves back and forth within that range.

In addition to the above manual trading order types, you can also toggle the order panel to the “Trading Bot” tab to create your own trading bot.

Pionex Crypto Trading Bots

Perhaps the principal reason to consider Pionex as your cryptocurrency exchange is all of its crypto trading bots traders can use to automate their trading strategy.

Pionex has 16 built-in free trading bots users can quickly create and implement into an automated trading strategy, including a grid trading bot, rebalancing bot, and DCA bot.

Although many of the automated trading bots Pionex offers are relatively advanced, they have several bots applicable to investors, the rebalancing bot and DCA bot being prime examples.

Among the most notable cryptocurrency trading bot options not already mentioned are the Pionex arbitrage bot and the Pionex grid trading bot.

Pionex allows you to create grid trading bots like the BTC and ETH Moon bots for ultra-wide range grid trading, as well as several other advanced free bots with infinity and reverse grids.

Pionex also has smart trade bots, which allow you to automate simpler strategies with options like a trailing sell bot or bots with predetermined stop-losses and take-profits.

While using Pionex’s bots could be challenging for newer traders, they are relatively intuitive and include very helpful tutorials for each bot to ensure implementation is as straightforward as possible. 

Pionex Earn (Dual Investments)

Pionex’s “Earn” section consists of a series of dual investment opportunities for 21 of their supported assets.

While executing the dual investment is straightforward, understanding them is more complex than traditional interest-earning vehicles.

The dual investments products allow you to deposit a cryptocurrency (e.g., USDT) and earn a return based on two assets (e.g., USDT or BTC).

You start by choosing a strike price and a settle period, which can be anything from one day to 290 days.

By buying or selling a dual investment contract, you are committing to buying or selling the underlying asset at the strike price at the specified date.

If you buy a contract and the price of the underlying asset trades below your strike price, you will have to buy that underlying asset at the strike. If you buy a contract and the price of the underlying asset trades above your strike price, you will earn the specified yield.

Yields (APYs) will range anywhere from 1% to upwards of 400%, but it’s important to note they are annualized, so a one-day contract would only earn you a small fraction of the annualized yield.

All in all, the dual investments are good opportunities to earn interest, but they are not without risk (as you can potentially lose your principal), and their confusing nature may present a challenging hurdle for most investors.

Pionex Customer Support

Like most platforms, Pionex has a help center to find information about the platform.

One of the best customer support features Pionex includes (that was alluded to earlier) is the conveniently accessible explanations of all its trading bots, which can be found either in the help center (FAQ section) or within the exchange.

After you click to create a trading bot within the exchange, there’s a “Tutorial” tab will pop up next to the bot name. 

If you click on that tab, you’ll be taken to a window with a detailed explanation of each bot and how it works. Pionex even includes helpful videos, graphics, and pictures to walk you through the process.

In addition to the trading bot walkthroughs built into its platform, Pionex also included tutorials for its “Earn” section, which are equally as informative. Regardless of what you’re trying to figure out, Pionex probably has a video to fully explain it, which dramatically reduces the friction of using its platform.

And if that wasn’t enough, Pionex has an extremely developed YouTube channel full of even more walkthroughs, discussions, and just about everything else related to its platform and services.

Most cryptocurrency exchange platform YouTube channels are nothing to write home about, but Pionex’s is certainly worth checking out and should prove to be an invaluable resource if you decide to create an account.

Conclusion: Pionex Review 

After walking through all of its products and services for this Pionex review, we believe its platform is an excellent option for active traders.

Aside from its UI and trading interface being very appealing, Pionex has hundreds of markets, including leveraged ones, and exceptionally low trading fees. Furthermore, Pionex’s bot trading, especially its grid trading bots, presents excellent automated trading opportunities and, relative to other platforms’ crypto bots, every Pionex trading bot is extremely easy to use.

The Pionex trading bots may not be as customizable or extensive as other platforms like HaasBot, but they add a significant amount of optionality other traditional cryptocurrency exchange platforms will be missing.

As for the earning opportunities, it’s a shame not to see more traditional lending options or staking, but the dual investments Pionex has still present reasonable options for earning interest.

The details of the dual investment can be confusing, but there are plenty of asset options, and it’s still better than having no opportunity to earn interest. Just be aware that, unlike most interest-earning vehicles, dual investments run the risk of losing your principal, so they could be thought of as more of a trade than an interest-earning opportunity.

With all that being said, we would strongly recommend Pionex to active traders for its extremely low trading fees, easy-to-use and free trading bots, wide range of markets, and overall trading interface. Pionex’s trading bot access alone should make it a top contender in the crypto trading platform space, but its strength as a platform certainly goes well beyond trading bots.

That said, offering a demo account to better familiarize oneself with the trading bot process seems like an obvious addition Pionex missed. Moreover, Pionex isn’t the most ideal platform for earning interest or attracting investors. Despite having rebalancing and DCA bots, it is a crypto exchange that clearly caters to experienced traders. 

If you are a passive investor or simply looking for ways to earn interest on your crypto assets, pursuing other platforms will likely be in your best interest, no pun intended. But, if you are a serious crypto trader, you would be hard-pressed to find a better cryptocurrency trading platform than Pionex.