Pionex Review 2024
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- Web
- Mobile application
- Manual and algorithmic trading with leverage are available
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
- $1
- Web
- Mobile application
- Manual and algorithmic trading with leverage are available
Our Evaluation of Pionex
According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Pionex is a high-risk cryptocurrency exchange with the TU Overall Score of 2.91 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Pionex clients on our website, Traders Union expert Anton Kharitonov does not recommend working with this broker, as, according to reviews, most clients are not satisfied with the broker. Pionex ranks 141 among 172 companies featured in the TU Rating, which is based on the evaluation of 100+ criteria.
Pionex is an exchange for manual and automated trading that offers a wide choice of cryptocurrencies, provides a secure trading environment and charges low trading fees.
Brief Look at Pionex
Pionex is a cryptocurrency exchange launched in 2019 in Singapore. It operates under the Money Services Business (MSB) license issued by FinCEN, a US regulatory authority, with such world-known exchanges as Huobi and Binance also operating under its license. Pionex is currently one of the fastest growing platforms in Asia with a daily trading volume exceeding USD 30 million. Over 100,000 traders from all across the world use the services of the exchange. Pionex offers manual and automated cryptocurrency trading, including with leverage. The clients of the exchange have access to trading over 300 trading pairs, liquidity from the largest international exchanges and 16 types of built-in bots.
- Minimum deposit is USD 1 in cryptocurrency equivalent;
- Low fees even with small trading volumes;
- No restrictions on strategies – you can trade on your own or using built-in bots;
- Wide selection of crypto assets, including for margin trading;
- High security: license of a US regulator, holding funds in cold wallets;
- Diversity of trading bots and no addition fees for using them;
- 2FA (two-factor authentication).
- No fiat deposit and withdrawal options;
- Referral awards are given only for users with trading volume of USD 20,000 or more;
- Uninformative responses of customer support.
TU Expert Advice
Financial expert and analyst at Traders Union
Pionex is a young cryptocurrency exchange with free trading bots. You don’t need to have experience in automated trading in order to work with them, and they are built into the trading platform. Pionex combines the liquidity of the largest exchanges, such as Binance and Huobi Global, which allows bots to open and fill orders 24/7. At the moment, Pionex clients can use 16 bots that trade using different algorithms.
You can also trade manually at the exchange, both with leverage and without. Over 300 pairs with BTC, USDT, ETH, BNB and USDC are available. For margin trading, Pionex offers nearly 100 pairs with USDT. Fiat is not available at this exchange. You can use mobile apps and the web platform to trade. The latter is more functional and supports two modes: standard and Pro.
Pionex is a regulated crypto exchange. It operates under the MSB license obtained from FinCEN, a US regulatory authority. The license grants the right to provide services of exchange and transfer of currencies, including virtual ones. Also, Pionex submitted an application for the license of the Monetary Authority of Singapore (MAS), however, at the time this review was being prepared, the application was still under review. The exchange has investments of top corporations (ZhenFund, Gaorong Capital, etc.), with their total amount exceeding USD 10 million.
Pionex Summary
| 💻 Trading platform: | Web (Standard, Pro), Mobile App (Android, iOS) |
|---|---|
| 📊 Accounts: | Standard |
| 💰 Account currency: | Over 30 cryptocurrencies |
| 💵 Replenishment / Withdrawal: | Credit cards, cryptocurrencies |
| 🚀 Minimum deposit: | 0.0001 BTC, 1 USDC/USDT, 0.001 ETH |
| ⚖️ Leverage: | 1:3 for pairs with BTC and ETH, 1:2 for pairs with other currencies |
| 💼 PAMM-accounts: | No |
| 📈️ Min Order: | 0.00001 BTC |
| 💱 Commission: | 0,05-0,1% |
| 🔧 Instruments: | Cryptocurrencies |
| 💹 Margin Call / Stop Out: | No |
| 🏛 Liquidity provider: | Binance, Huobi Global and other large exchanges |
| 📱 Mobile trading: | Yes |
| ➕ Affiliate program: | Yes |
| 📋 Orders execution: | Market, Limit |
| ⭐ Trading features: | Manual and algorithmic trading with leverage are available |
| 🎁 Contests and bonuses: | No |
Pionex supports deposits and withdrawal only in cryptocurrencies. The available coins include stablecoins USDT, USDC and Binance USD (BUSD). You can buy cryptocurrencies with your debit/credit card.
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Commissions & Fees
| Account type | Commission (minimum value) | Withdrawal commission |
|---|---|---|
| Standard | 0.5$ for a transaction of USD 1,000 (without leverage) | Yes |
The comparative table shows how beneficial it is to trade with Pionex compared to competitors. Average rate of trading fees is specified in it. The rates and presence of additional fees (deposit/withdrawal fees, etc.) were not taken into account in the table.
| Broker | Average commission | Level |
|---|---|---|
|
$0.5 | |
|
$6 | |
|
$20 |
Investment Options
Pionex offers its clients a number of investment solutions for earning additional income even without active daily trading. Staking is one of them, although this option is not permanent, but active from time to time. The exchange also offers trading bots you can use to trade automatically without your direct involvement. In addition, dual investment and a referral program are available.
Dual Investment and trading bots are passive income instruments on Pionex
Algorithmic trading with bots, special software configured for various fluctuations in cryptocurrency prices, is available on Pionex. Investors can use 16 bots, the most popular being Grid Bot, DCA Bot, Rebalancing Bot and Arbitrage Bot. Using bots is free. Traders pay standard trading fees: 0.05% of the amount of transaction (with leverage 1:1), 0.1% (with leverage 1:2, 1:3).
Dual investment features:
Two types of Duel Investment are available: manual and automatic daily reinvesting.
An investor can invest in USDT-BTC or BTC-USDT.
The yield is the same for both pairs at 0.6%.
Dual Investment is a structured savings product with a fixed yield rate, but undetermined settlement currency. The currency in which the profit is paid is determined upon the maturity of the contract. Let’s review this using the example of investing in the USDT-BTC pair. An investor invests US dollars and choses the period. If on the payment date, the BTC price drops below the target investment price, the investor receives profit in BTC, and if it is higher – in the US dollars.
If you are a large investor and plan on investments over $10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.
Pionex Affiliate program
The affiliate reward is 20% of the commission paid by the referred users to the exchange. The funds are credited only after specific conditions are met. A new user must register using the link of the Pionex client, run a Grid bot and reach a trading volume of USDT 20,000.
In order to start receiving the reward, a referrer must invite at least two people. They must pass Level 2 verification, i.e. provide the official ID and a selfie with the document.
User Satisfaction