Pionex Trading Signals - TU Expert review
Trading signals are one of the best trading options for beginners and for earning passive income. Novice traders can use such signals and earn a profit, while still learning. Brokers can offer various ways of receiving signals. Traders Union analysts have prepared a detailed analysis of Pionex trading signals. You will learn what kinds of trading signals Pionex offers and what the conditions for using them are.
Short introduction of 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.
| 💰 Account currency: | Over 30 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 |
| 💱 Spread: | 0,05-0,1% |
| 🔧 Instruments: | Cryptocurrencies |
| 💹 Margin Call / Stop Out: | No |
Pionex Pros and Cons
👍 Advantages of trading with Pionex:
•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).
👎 Disadvantages of Pionex:
•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.
What are trading signals?
Trading signals are signals to enter a trade, which the broker provides to traders. They can be based both on fundamental and technical analysis.
A broker can provide signals in several ways:
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Copy trading.
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Email alerts.
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Signals through a blog on the website.
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Recommendations of a personal manager, etc.
When choosing signals, it is important to take into consideration their profitability, the list of trading instruments, the conditions of their provision – fees, markup, etc.
Pionex Trading Signals
The rate of the trading fee on Pionex depends on the trading volume and on whether a trader uses leverage. Clients with a 30-day trading volume of less than 15 BTC are assigned the Standard status. Without the leverage, they pay 0.05% fee to the exchange. The fee for margin trading is 0.1%. Traders with the trading volume equal or higher than 15 BTC are qualified as VIP clients. Depending on the level (VIP1-VIP8) and the type of the order (Taker/Maker), their fees are 0.045%-0.09%. Deposits are free. Withdrawal fee is set by the blockchain network. For each cryptocurrency, the rate is different: 0.0005 BTC, 0.0015 LTC, 0.25 XRP, etc.
| Account type | Spread (minimum value) | Withdrawal commission |
| Standard | 0.5$ for a transaction of USD 1,000 (without leverage) | Yes |
Conclusion
Based on the results of the analysis, Traders Union analysts have concluded that Pionex does not have the best conditions for trading signals. The broker offers a limited choice of instruments, for which signals are provided, high fees and there are questions about signal profitability. Therefore, if you are planning to trade signals, it would be a good idea to consider another option.
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FAQs
Can I lose money by trading signals?
Keep in mind that there are no ideal trading signals and trading signals may lead to a loss of funds. There are always risks.
Do brokers offer premium subscriptions to signals?
In some cases, brokers may offer premium subscriptions.
Is automatic position opening based on signals possible?
Yes, it is what copy trading implies. In this case, all trades are copied automatically to the trader’s platform.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.