Best Crypto Exchange & Trading Platforms in 2024 Reviewed
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Pionex Review 2024: A Comprehensive Comparison – Pionex Trading Bot vs. 3Commas
DATE PUBLISHED: OCT 6, 2021
DATE UPDATED: JUL 10, 202416 MIN
This article describes all the up-to-date features of the Pionex bot and boils down to membership tiers, fees withdrawing cryptocurrency, and much more. Once you understand what the Pionex bot is, we compare it to another automated trading bot 3Commas. This way, you can get a complete picture and pick the best crypto trading bot in no time.
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Is Pionex Legit?
Pionex is a second-tier crypto trading exchange for trading bots established back in 2019. The platform has 16 free bots designed to automate your trading via technical analysis, event triggers, and trading indicators.
If you're a newbie trader, the exchange might be an excellent automated trading fit, as both account opening and bots are free. You only need an initial deposit to get started with one of the bots available. For those unsure, the exchange prepared a series of detailed tutorials to explain how bots work and what are the best ways to use them for profit.
If you feel skeptical, you can learn more about bots before getting started. Any additional questions left may be addressed to live chat, a dialogue window where customer support agents are ready to cover all your questions in a real-life format.
Pionex Trading Bot Review: Overall Thoughts
Pionex is one of the prominent cryptocurrency exchanges fostering newbie trading and investment in crypto. If you never dealt with bots, it might be a good pick to put your hands on automated crypto trading for the first time. A wide range of over 120 crypto assets, 16+ trading bots, deep liquidity, and low fees may surely help you on the way to profits.
Pros and Cons
Pros | Cons |
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Key Features & Advantages
- Automated trading powered by 16 free-to-use bots
- Limit and market order for efficient manual trading
- Fairly low trading fees of 0.05%
- Over 120 crypto assets supported
- Mobile device application [IOS and Android]
- Live chat function and emails support
- Margin trading & leverage
- Smooth learning curve for automated trading newbies
- Deep bot liquidity aggregation
Pionex Review: Negatives & Disadvantages
Even though Pionex is a reliable cryptocurrency exchange with free trading bots, it has some disadvantages to consider before trading. The platform depends on Binance and Huobi exchanges, as it aggregates liquidity. Such an approach may potentially limit arbitrage opportunities for some traders.
Newbies complain about the lack of a demo trading account, as they can’t practice trading risk-free. If you’re looking for a demo account, you may want to pick an alternative crypto trading bot. The same is true for any fiat operations, including Pionex withdrawal. The exchange doesn’t support fiat withdrawal in any form.
Support is another point of potential concern. Despite educational content, detailed guides, and Live support feature, many users claim the responses are helpless. Some even wonder whether Pionex is a legit bot provider.
What Are The Services?
Pionex is best known for its bots. The platform offers 16 standout bots briefly described below.
- Trailing Buy Bot. Adds to a position when the asset value falls. Buying your stops when the price reverses
- Trailing Sell Bot. Places trailing stops on orders, limiting potential losses if market reverses
- Smart Trade Bot. Capitalizes on market trends with low account risk. Buys and sells with fixed or trailing stops
- Grid Trading Bot. Executes orders within specified price ranges, securing small profits upon regular volatility.
- Reverse Grid Bot. Buys and sells once prices are close to upper and lower limits
- Margin Grid Bot. Earns a profit without using crypto coins by lending some to other Pionex users and earning additional capital to provide the funds for trading
- Leveraged Grid Bot. Utilizes leverage with margin loans to amplify the results of the standard grid bot, available with various leverage rates
- Leveraged Reverse Grid Bot. Adds leverage to the standard reverse grid bot to amplify trading results and profit potential. Supports leverage tools
- Infinity Grid Bot. A more advanced profit release strategy similar to the grid bot that uses percentages and no upper range limit. Best suited for investors that believe the market will rise
- Time-Weighted Average Price (TWAP) Bot. Executes large volumes of cryptos in smaller orders over a specified period, creating an averaged asset price
- Dollar-Cost Averaging (DCA) Bot. Repeated purchasing at regular intervals to offset the effects of volatility
- Spot Futures Arbitrage Bot. An arbitrage bot capitalizing on market price differences between futures and spot prices.
The cryptocurrency trading exchange also focuses on its mobile application and other features like advanced coin ranking, charts, live support, and custom interface you can adjust however you like.
Fees
Pionex crypto exchange with automated trading bots is free for all users. Within the free plan free are twelve trading bots, including such beloved autotrading tools as:
- GRID Bot
- Infinity Grids Bot
- Leveraged Grid Bot
- Margin Grid Bot
- Reverse Grid Bot
- Leveraged Reverse Grid Bot
- DCA Bot
- Trailing Take Profit Bot
- TWAP Bot
Deposit Fees
Any crypto deposit is free of charge on the exchange. If you’re willing to make your deposit using traditional money transfers, you’ll pay a 3.5% to 4.5% fee depending on your location. Credit cards within Europe are 3.5% flat, while non-EU citizens pay 4.5% for deposits with cards.
Trading Fees
Pionex is one of the few bots charging its customers for active trading. Each trade you make entails a taker/maker fee for trading. The fee is a fixed 0.05% of the amount traded. Such a policy makes the exchange quite affordable for newbies and small traders but far less attractive for whales, enterprises, and experienced traders with bigger-than-average wallets.
Withdrawal Fees
Once you withdraw, you’ll pay a flat fee. Its size directly depends on the asset you withdraw. The most popular USDT stablecoin may incur a withdrawal fee of $1 for TRC-20 and $10 for ERC-20 networks, respectively. You can learn more about Pionex withdrawal fees on the official website. Note that the exchange does not support any fiat withdrawals.
Community
No Pionex trading bot review would be complete without addressing the community formed around the exchange. Once you open a Pionex account, you access not only free trading and leverage trading but also get top recommendations for cryptocurrency. The community members greatly support and guide each other across social media channels. Thus, creating plenty of options for traders in the world of crypto trading. If you’re a manual trade lover, top recommendations on automation by users and support agents might eventually turn you into a skilled algo trader on Bitcoin and other crypto assets.
Pionex vs 3Commas: Automated Trading Platforms Reviewed
Let’s break down points crucial for any bot and compare the results.
Pionex Review vs 3Commas: Pricing Winner
Pionex | 3Commas |
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Pricing winner
If you are looking for a simple autotrading tool to try for yourself on a crypto exchange, Pionex is the choice for you, as it offers more bots than 3Commas’ free version. However, if you love to explore different options or need an advanced trading platform, choosing one of 3Commas’ subscription plans is highly recommendable.
Reliability Winner
Pionex is a relatively new player in the autotrading market. However, it has already gained a loyal user base, as it holds MAS and MBS licenses from Singapore and a U.S. FinCEN’s MSB (Money Services Business) license. The exchange has many capabilities for manual and robotic trading and does indeed help its clients grow their crypto profits. Nevertheless, new users are often hesitant to use Pionex, as it has only been present in the industry since 2019.
3Commas is known for being an honest and transparent business, creating only simple and straightforward trading tools. Although 3Commas has been on the market only since 2017, its services are already used worldwide. Regardless of whether you are a beginner in trading or a large-scale investor, this service will be a good assistant in increasing your profit.
Pionex | 3Commas |
|---|---|
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Ease of use winner
Both are clearly focused on providing a comfortable and pleasant user experience. The navigation around both platforms is simple and beginner-friendly.
Exchange Platforms
Pionex | 3Commas |
|---|---|
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Exchange support winner
The variety of exchange platforms available at 3Commas makes this platform a winner in this category.
Profitability Winner
Pionex is an excellent automated trading service that is showing potential for steady growth. Its low-fee policy allows users to get the most out of their transactions, making trading even more profitable.
Pionex | 3Commas |
|---|---|
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Profitability winner
Both are excellent options for automated trading and have demonstrated the capability to generate relatively stable profits.
Strategies Winner
Both platforms allow picking certain parameters for the bots and setting a set of complex parameters alike.
Pionex | 3Commas |
|---|---|
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Trading strategies winner
Even though both services provide ready-made and customizable trading strategy options, 3Commas is clearly the winning software. This platform has a wider variety of trading strategies available (23) and implies minimal risks.
Operating Systems
You can use Pionex on the go, as it is available on Android and iOS. You can also simply access its functionality via the official website. However, the mobile-first rule enables app users to receive the updates before those who use the website version.
Pionex | 3Commas |
|---|---|
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OS winner
Both teams have put effort into making the apps and websites of these trading tools bug-free and running smoothly.
Privacy & Security Winner
Throughout its history since 2019, Pionex has not had any cases of a data breach. The service provider is striving to provide a safe environment for its traders at all times. The service aggregates liquidity from Huobi and Binance, which allows it to safely store the funds in them. Furthermore, the exchange is backed by BitUniverse. Some traders wonder if Pionex is a legit provider, though.
Pionex | 3Commas |
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Privacy and security winner
Both platforms boast a breach-free no data-leakage history. However, both services lack security information available for users to read.
Pionex vs 3Commas: Updates
Pionex | 3Commas |
|---|---|
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Updates feature winner
Both services provide immediate trading updates. However, if you are looking for a trading tool that provides notifications not only in the app but also via messengers, such as Telegram, 3Commas is the ideal solution for you.
Help and Support
The Pionex support section consists of five segments. Users can choose to proceed to the support center, where they will have access to an FAQ section, new version updates, tutorials, and activity announcements. Alternatively, traders can contact the support team via Telegram or email.
The information about fees and the coin list have separate sections in the drop-down menu. Besides, anyone can search for answers to their queries on the company’s blog.
Pionex | 3Commas |
|---|---|
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Communities winner
Due to its longer presence on the market, 3Commas has managed to generate a big follower base. The company also manages to update all its platforms regularly. 3Commas wins the community round.
Pionex VS 3Commas: The Bottom Line
We’ve compared two major bot providers to understand which one is better as a go-to trading solution. The results show that 3Commas wins the competitions across several criteria mentioned. Let’s finalize the comparison in a table.
Category | Winner |
|---|---|
Pricing and plans | Draw |
Reliability | Draw |
Ease of use | Draw |
Exchange platforms | 3Commas Crypto Trading Bot |
Profitability | Draw |
Trading strategies | Draw |
Operating systems | Draw |
Privacy & security | Draw |
Updates | 3Commas Crypto Trading Bot |
Help and support | Pionex Trading Bot |
Communities | 3Commas Crypto Trading Bot |
Features | 3Commas Crypto Trading Bot |
Both autotrading service providers have gained the loyalty of thousands of traders. 3Commas has been scored better, though.
Pionex Review: Verdict
In the ever-evolving landscape of cryptocurrency trading, Pionex has emerged as a noteworthy choice for individuals seeking a streamlined approach to automated crypto trading. Especially for those who are just beginning their journey in the world of cryptocurrency, Pionex offers a comfortable onboarding experience. However, it's important to highlight that many seasoned traders and professionals have shown a leaning towards platforms like 3Commas and other notable crypto exchanges.
For those wondering why, the answer lies in the comprehensive toolkit that 3Commas brings to the table. Whether you're just dipping your toes into the crypto waters or you're a veteran trader with a wealth of experience, 3Commas seems to have it all. The platform masterfully integrates advanced automation tools, ensuring users are equipped with the latest in trading technology. But it doesn't stop at just technology; 3Commas prides itself on the personal attention it extends to its clientele, ensuring that users feel valued and taken care of. And the cherry on top? All of these premium features come at a price point that doesn't burn a hole in your pocket.
As of 2024, this information remains up-to-date and accurate, providing a current snapshot of the crypto trading platform landscape.
FAQ
Pionex is a legit crypto trading platform, implying you can trust it. If you feel skeptical about its safety, you might want to read user reviews on TrustPilot.
Pionex is 100% legit trading bot tested by many users. You can trust this software provider completely. Yet, you might still want to check out as many reviews as possible before trading for real.
Pionex is a second-tier crypto exchange in terms of daily volume traded. However, it’s still a reliable platform for traders and investors alike. It doesn’t have major issues with liquidity, as it aggregates liquidity from Huobi and Binance exchanges.
Even though the exchange hasn’t been involved in any scams, frauds, or thefts, you can still lose money trading on the exchange. Like trading on any other crypto exchange, trading is associated with loss risks.
You can withdraw your crypto assets for a fee, just like on any crypto exchange. However, you can’t withdraw fiat money. The exchange doesn’t support fiat withdrawals at all.
Disclaimer
The contents of this article are not intended to be financial advice and should not be treated as such. 3Commas and its authors do not take any responsibility for your profits or losses after you read this article. The info contained herein is based on data that was gathered from a variety of sources. This should not be used as a parameter for investing. The user must do their own independent research to make informed decisions regarding their crypto investments.
Mikhail Goryunov
A proven leader, successful at establishing operational excellence and building high-performance teams with a sharp focus on value creation and customer success.
