Pionex Fees and Minimum Deposit - TU Expert review
After considering a crypto exchange’s security, examining its fees is the next crucial step. Lower fees translate to higher potential profits. Newcomers to crypto trading may also want to consider the minimum deposit required to start trading, as they might prefer to begin with a smaller investment.
Traders Union analysts have assessed Pionex fees and minimum deposit requirements to help prospective crypto traders make informed decisions.
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.
👍 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.
Pionex Commissions and Fees
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 |
A broker is an intermediary between a trader and an exchange. Therefore, brokers charge fees for their services. The fees may have different structure.
There are the following fees in the Crypto market:
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Spread – the difference between the buy and the sell price of an asset.
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Commission per lot.
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Commission per trade.
Broker fees may differ depending on the trading account type. For example, on some accounts spread is used as a trading fee, and on others – commission per lot.
Why is it important to consider the minimum deposit at a cryptocurrency exchange?
Accessibility: The minimum deposit helps traders determine if they can afford to start trading on an exchange.
Risk Management: Exchange-set minimum deposits ensure traders have sufficient funds to cover potential losses and fees, preventing financial overextension.
Platform Suitability: The minimum deposit amount can be an indicator of the exchange’s target audience and trading volume, aiding traders in selecting a platform aligned with their goals.
Cost Considerations: Assessing minimum deposit requirements helps traders account for trading expenses.
Are the fees and minimum deposit requirements at Pionex suitable for beginners?
Analysis of Pionex shows that the broker has a rather high minimum deposit. It could pose a problem for traders, who are only starting their path in trading. Nevertheless, the fees are low. Therefore, the broker will be a good choice for professional traders.
FAQs
Is there a dependence between the fees and the deposit amount?
If a broker offers several account types, there is often a dependence. The more money you deposit, the higher the level of your account will be, and, accordingly, the lower the fees.
If the fees are low, how does a broker make money?
As a rule, brokers with low fees earn on the fees thanks to high trading volume and also non-trading fees.
Can the level of the fees change if different accounts imply the use of different platforms?
Yes. Some brokers offer different trading platforms on different types of trading accounts. In this case, the size of the fee may change.
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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.
Dr. BJ Johnson is a PhD in English Language and an editor with over 15 years of experience. He earned his degree in English Language in the U.S and the UK. In 2020, Dr. Johnson joined the Traders Union team. Since then, he has created over 100 exclusive articles and edited over 300 articles of other authors.