AI Trading Bot – What is the best AI Trading Bot
Pionex Review: Complete overview of the provider
There are many traders out there who are interested in using AI trading bots and others who are already using them with success. The problem with bots is that they can be difficult to configure and add to your trading if you don’t have the know-how. But there is one exchange that fixes the problem by offering integrated bots!
This exchange is Singapore-based Pionex, which offers 12 different ai trading robots that you can add to your account without needing any experience. You simply set the AI trading bot to be trained and let it run, making profits in many cases. Many users report really impressive performance from the Pionex bots.
If you’ve ever thought about trading with the bots and been put off by the complexity, come and give the Pionex bots a try.
The broker was only launched in 2019, so it’s not too well known yet, but it already has over 30 million USD in daily trading volume. Given the success of its bots, it’s quite likely that Pionex won’t remain unknown for long either.
Pionex provides you with the tools you need to automate your crypto trading. All you need to do is go to the provider’s website, open an account, deposit and start an AI trading bot. If you have any further questions, then you’ve come to the right place, as the rest of this article will shed light on what Pionex is, what they do, and how they do it.
Summary
It’s not surprising that in a technology-focused field like cryptocurrencies, traders have turned to technological solutions for their trading. This has led to the increasing popularity of automated trading, or „bot trading“ as it is commonly known.
There are several platforms that have started using API keys to enable automated trading 24/7. This is a huge relief for traders using technical signals. Because this means that they are no longer pinned to their computer screens watching every tick of the prices.
The biggest problem with AI trading bots has always been the complexity involved. Even if you can’t programme it yourself, you need to have a certain level of programming knowledge to monitor the bot and make changes to its code as the markets change. And then there’s the cost of buying or renting the bots from their developers. In some ways, it was just more trouble than it was worth to the bottom line.
Pionex changed all that when they launched in 2019 with free, inbuilt AI trading bots. They offer bots, and they offer them for free. All you pay is a small trading fee, just like you have to pay on any exchange when you trade manually.
Better yet, it’s not just one or two bots you can choose from. It’s not even six bots. No, Pionex offers twelve different AI trading bots, all working with different algorithms and targeting different market conditions.
And unlike its well-known competitors, who may charge hundreds of dollars for just one AI trading bot, Pionex offers all twelve of its bots absolutely free. All you pay is the 0.05% trading fee. That’s a pretty low fee compared to other brokers who also don’t offer free AI trading bots.
Pionex is connected to Binance and Huobi. This ensures high liquidity, so you don’t have to worry about your AI trading bot crashing and failing due to lack of liquidity. Therefore, Pionex is one of the largest Binance brokers.
Regulation and security
The team behind the Pionex exchange is the BitUniverse team. BitUniverse is an all-in-one crypto auto portfolio and AI trading bot app and the most popular crypto portfolio app in South Korea, Indonesia and Taiwan.
Thanks to the size and reach of this company, Pionex has been able to obtain regulation, giving all its clients the assurance that the broker’s activities are subject to oversight.
Traders can rest easy knowing that Pionex is regulated in both Singapore and the US. In April 2020, Pionex received the MSB (Money Services Business) licence from the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN).
It is the same licence that Binance, Huobi, and several top exchanges hold. Pionex is the first cryptocurrency exchange with integrated AI trading bots to receive this US MSB licence.
Pionex AI trading bots
Pionex is the very first exchange to specialise exclusively in AI trading bots, so let’s first take a look at the twelve different bots. We realise that this is the heart of the matter!
- GRID Bot (Grid Trading Bot) – The Grid Bot is Pionex’s original trading bot that attempts to profit from normal market fluctuations. Users set a range for the bot and it attempts to buy low and sell high within the set range.
- Spot Futures Arbitrage Bot – Thanks to the perpetual futures market in crypto, there is often an opportunity to profit from arbitrage trades that take advantage of the difference between the price in the futures market and the spot price of the crypto. The Spot Futures Arbitrage Bot targets profits of 15-50% APR with an extremely low-risk arbitrage strategy.
- Infinity Grids Bot – Since the Grid Bot is best suited for sideways markets, it is possible that profits are missed when the market starts to trend in one direction. This is where the Infinity Grids Bot comes into play. It works in a similar way to the Grid Bot, but has no upper range limit.
- Leveraged Grid Bot – By combining the Grids Bot with margin loans, the Leveraged Grid Bot amplifies the results you would achieve with the original Grids Bot. Leverage is available as 1.2x, 1.5x, 2x and 3x, increasing the potential profits you can make while your bot trades 24/7.
- Margin Grid Bot – The Margin Grid Bot allows you to lend your BTC or USDT and earn additional returns while benefiting from the Grid Bot strategy.
- Reverse Grid Bot – The Reverse Grid Bot is used to increase your holdings when the price falls. It sells coins when the price reaches highs and then normally goes back into the position when the price goes down. It complements the grid strategy by increasing your total holdings of coins.
- Leveraged Reverse Grid Bot – The Leveraged Reverse Grid Bot works in exactly the same way as the Reverse Grid Bot, but adds leverage to improve trading results. Traders can choose between 1.2x, 1.5x, 2x and 3x leverage to increase trading results.
- Smart Trade Bot – Der Smart Trade Bot ermöglicht es Ihnen, auf Markttrends zu setzen und Gewinne zu kassieren, ohne Ihr Konto einem übermäßigen Risiko auszusetzen. Er kombiniert gleichzeitiges Kaufen und Verkaufen mit festen Stops oder sogenannten Trailing-Stops, um das Marktrisiko zu begrenzen.
- Trailing Sell Bot – The Smart Trade Bot allows you to bet on market trends and take profits without exposing your account to excessive risk. It combines simultaneous buying and selling with fixed stops or trailing stops to limit market risk.
- Trailing Buy Bot – The best tool to buy the lows. The Trailing Buy Bot will continue to add to your position when the price falls and then stop buying as soon as a bottom is reached and the price bounces back and starts to rise.
- DCA Bot (Dollar-Cost Averaging) – With the Dollar-Cost Averaging Bot, you can set recurring purchases at specific intervals. The purchases are based on time and not price, giving you a better average price over time. At Pionex you can choose one of the following 5 time intervals for the DCA strategy: 10 minutes, 1 hour, 1 day, 1 week and 1 month.
- TWAP Bot – The TWAP bot is an excellent way to buy or sell large amounts of crypto without influencing the market price. Whales often use this strategy when increasing or decreasing their holdings. In fact, the TWAP bot offers a way to split a large order into many smaller orders within a given period of time.
As you can see, each of the bots offered by Pionex has different goals and different uses. When market conditions change, it can also be helpful to change the AI trading bot used, as each of them works best in certain market conditions. Below you can see the types of returns that are possible.
Also note that the leveraged bots not only magnify the profits but also the losses, so please use them with caution and prudence.
Liquidity Aggregated Engine
Pionex is able to run its bots 24/7 because it is the first exchange to aggregate liquidity from Binance and Huobi Global. By combining the liquidity from these two leading global exchanges, Pionex is able to ensure that the orders the bots need to continue executing are always available.
According to Pionex’s CTO, about 60% of Binance and Huobi orders are aggregated and available to Pionex bots and traders. The reason why it is not 100% is that there are always some fake orders in the order books. But even 60% of the liquidity from these two brokers is enough to ensure that the automated AI trading bots of Pionex can be executed properly.
Low Pionex trading fees with and without AI trading bot
As Pionex is a market maker for Binance and Huobi Global (and one of their largest clients), it benefits from extremely low trading fees from both exchanges. This allows Pionex to offer trading fees of just 0.05% for all trades. And yet traders are provided with free AI trading bots while benefiting from the immense liquidity of Binance and Huobi.
In addition to the trading fees, there are withdrawal fees, but these are basically the network fees for each coin. The withdrawal fee differs from coin to coin. You can view the full fee table here. [LINK] https://www.pionex.com/en-US/fees
And „whales“ can benefit from the Pionex Market Maker Programme. Anyone who has deposited over 150,000 USDT (or the equivalent in other cryptocurrencies) with Pionex can apply for the programme, which grants 0% maker fees. Taker fees remain unchanged at 0.05%.
Note that the programme can only be applied for in the period from the 1st to the 10th of each month. Accounts are then reviewed on the 1st of each month to determine if they qualify for the programme. To apply, send your Pionex account and contact information (WeChat, LINE, Telegram, Facebook) to service@pionex.com and indicate that you would like to apply as a market maker.
Pionex Assets
Pionex is more than just a broker with AI trading bots. It also offers regular manual trading, which is still attractive given the low fees. And you can choose from more than 120 different cryptocurrencies and hundreds of trading pairs.
How to use a GRID bot at Pionex
The GRID Bot is Pionex’s original trading bot and it remains the most popular. To keep this article from getting too long, let’s take a look at how to set up and configure the GRID bot. You can find instructions on how to set up the other 11 trading bots on the Pionex blog.
While there are several other platforms that offer trading bots (3Commas, Bitsgap, TradeSanta, etc.), Pionex was the first and all others have copied the UI/UX used by Pionex. So if you know how to add and configure a GRID bot on Pionex, you can probably figure out how to configure bots elsewhere. But why bother when Pionex offers so many free trading bots and such low trading fees?
Using the GRID trading bot is pretty simple and starts with logging into your Pionex account, or creating one if you don’t already have one. It is also possible to log in with your BitUniverse credentials if you have an account there. If you need to create an account, it’s pretty quick and easy. It takes less than 30 seconds to fill out the registration form.
If you want to increase your deposit and withdrawal limits later, you can complete the KYC (Know-Your-Customer) process, but this is not necessary. Once your account is created, you can deposit and get started. Pionex has been accepting deposits in BTC, USDT, ETH and 36 other cryptocurrencies since January 2021.
It’s so easy to set up your first GRID Trading Bot
Log in and select Grid Trading Bot from the list of trading tools.
Pionex will let you choose one of the 2 types of Grid Trading Bot: „Use AI Strategy“ and „Customise“.
If you choose „Use AI Strategy“, Pionex AI Advisor will suggest a set of parameters for you. The parameters have been calculated from the backtesting of the last 7 days. You will then see the recommended price range and the profit per grid in the preview.
All you have to do is use the slider to choose how much of your capital you want to use for the grid trading bot. Note that the minimum you can set is 35% and that requires 350 USDT. Once you’ve done that, simply click CREATE and the trading bot will start trading and generating passive income for you.
If you select „Define yourself“, you must enter 4-5 parameters: Upper Price Limit, Lower Price Limit, Number of Grids, Amount per Grid and Stop Loss Price (optional). If you know what you are doing, you can set things up really well with the manual approach. If you don’t want to dwell on it, the AI strategy has an expected annualised return of over 130% (as of 22 January 2021). That’s quite a lot for a „set it and forget it“ bot.
Once the trading bot is created, it will be displayed at the bottom of your dashboard. You can always see the total profit and the daily profit in real time at a glance. You can also click on the DETAIL button on the far right to go to the bot details screen, which is packed with information.
How the „Use AI strategy“ grid bot works
First, the bot looks at the coin’s volatility over the last seven days. It uses this to set the upper and lower limits for the range used for the GRID bot strategy.
Next, it divides the amount you have allocated to the chosen trading pair. Let’s just call this hypothetical pair XXX/YYY. Half of your investment goes to XXX and half goes to YYY.
A grid of limit buy and sell orders is then created within the range already set. These are the trading triggers.
If the price rises, the ai trading bot sells XXX when the trigger levels are reached and takes profits in YYY on the way up. As soon as the price reverses, the trading bot buys YYY and sells XXX. The trading bot will continue to do this as long as the price remains within the range set by the AI.
How the Grid Bot works in self-set mode
In „Customise“ mode, you can set all parameters yourself. This means you can change the upper and lower limits of the range, the number of grids used and the distance between the grids.
For those with the appropriate knowledge and skills, this allows the trader to make adjustments based on their own knowledge. Note that when working in manual mode, the distance between grids must be greater than the size of the commission times two in order for the trading bot to trade profitably.
Monitor your performance
The details screen gives you all the information about your AI trading bots, both the automatic bots and those that you have created manually. Here you can also view the place orders, transactions, the parameters used in each AI trading bot and the profit. The latter allows you to realise all the profits generated by your AI trading bot.
Pionex Mobile Apps
Pionex provides its trading platform as a web-based app, but there are also Android and iOS-based versions of the platform. Furthermore, the broker follows the mobile-first rule, which means that all new features and updates are released for the mobile apps first, before the web-based app is updated.
The Pionex apps have an excellent design and traders will find them simple and intuitive. The iOS version in the Apple Store is rated 4.8 out of 5 stars, while the Android version in the Google Play Store is rated 4.5 out of 5 stars.
Application help with Pionex
Although there is no general training area for users at Pionex, detailed information and training on their own tools and bots is provided.
For example, you can learn how to configure and use one of the twelve AI trading bots on the Pionex blog, but if you’re looking for general information on technical chart analysis or if you need news and alerts, you’ll have to look elsewhere.
There is also an extensive FAQ section operated by Zendesk. There you will find the answers to many frequently asked questions. Again, these are questions that are specific to Pionex users. However, if you need basic trading education or information on trading in general, you will need to look elsewhere.
Pionex customer service
Pionex only offers customer support via Telegram and email. While this might put some users off, users on the other hand report that customer support is quite good. Particularly noteworthy here is a quick response to some basic questions that users have This is probably because support is provided by the parent company BitUniverse.
It may sound old-fashioned, but if there was a way to contact support directly, it would be very welcome. A telephone number would be excellent, but an online chat app would also be preferable to the current telegram/email support.
Conclusion
Perhaps the most impressive thing about Pionex is the ability to make profits with their „out of the box“ AI trading bots. And also that the bots on offer are completely free, with Pionex only retaining a small trading fee.
And indeed, when Pionex launched in 2019, they did so with the advertising claim „Users keep the profits, we take the loss.“ That’s right, they took all the losses suffered by users who left their bots running in automatic mode. That’s called trusting your product.
If automated trading is your thing, then you really need to check out Pionex. Most likely it will end up being your first choice for bot trading. Not only are the bots free and profitable, they’re also dead simple to use. You no longer have to worry about setting up API keys or dealing with their unstable performance.
Pionex is a really simple solution for automated trading. You can honestly register an account, make a deposit and set up a GRID trading bot within minutes.
So you will also appreciate the low fees at Pionex. And you can fall back on manual trading, so if you don’t want to use the AI trading bot, you can still take advantage of the low trading fees.
Those who are new to automated AI trading bot trading will really appreciate the power of these AI trading bots and the lack of expensive subscription fees and high trading fees. Try it out and you will see that there are no comparable offerings in the crypto scene.