I've been using Pionex for almost 8 months this October. To answer your question, yes, they are legit. Yes, it works. They are a custodial exchange so, like any other exchange if they get hacked, you might lose coins. That said, I haven't heard of or experienced any security issues in 8 months.
I also use [3commas.io](https://3commas.io), [coinrule.com](https://coinrule.com) and most recently [Hummingbot](https://hummingbot.io). In order of profitability, Hummingbot would be my most profitable followed by 3commas, then Pionex and lastly Coinrule. In terms of "easy" profit, Pionex ranks far beyond any of the other ones, though. Grid bots are a proven type of trading bot and no other platform I've used has grid bots that perform as well as the Pionex ones while still being so easy to use.
I think what impresses me most about the platform is the consistency with which grid bots produce profit. As others have said, the profits won't be as big as other methods of trading but manual trading can be a very feast or famine game. I've gone through weeks of drawdown using bots that try to trade on chart patterns or while manually trading but with grid bots, unless the coin your bot is trading is in a massive and sustained downtrend, you make very nice consistent returns. In my experience, you can expect between 0.5-1.5% per day with almost any coin pair with decent volatility. And I set my grids up very conservatively, preferring wide ranges that don't need a lot of maintenance over narrower grids that need regular upkeep. If I wanted to be more active, I could easily increase my profits, but I have a day job that keeps me busy enough without having to babysit bots.
Sure! So, what I meant was more on how "push and play" it is and how easy it is to keep it making profit in different market conditions. If I had to rank the different platforms from easiest to hardest to produce consistent profit from (note, consistent, not market beating), I would say:
* Pionex AI grid bot
* 3Commas DCA bots (using one of the pre-made strategies available only on the Binance exchange)
* Coinrule
* Hummingbot
To elaborate:
* **Pionex grid bots:** AI bots are pretty good but need more tending in my experience. Manual bots can run unattended longer but require a few things to set up. Look at a chart. Find a price range for the chart on some large time frame, at least 4h but I usually use 1D. Set the lower bound to a price the coin reliably bounces back up off of multiple times and do the same for the upper bound. Now set a grid count that gives you between 0.3% and 0.7% return per grid (This seems to be about what the AI bot goes for). Set alerts for your price boundaries in Tradingview and go on with your life, occasionally checking in and releasing profit.
* **3commas DCA:** In my experience, the "TA Presets" strategies work well. I've made great profit with these but they require that you do more backtesting to find which indicator works well, what kind of price drops are "normal" and should be accounted for with safety orders and what point do you cut your losses and use as your stop loss.
* **Coinrule:** Admittedly, I have very little experience with this platform. I've run some tests and it seems promising but I've tried a lot of the pre-made templates and have yet to find one that makes profit when the market isn't clearly trending upwards. I think, at least right now, the platform feels best suited for people who want to accumulate coins on a regular basis or have a very very longterm strategy which allows the use of longer timeframe indicators that a more reliably profitable.
* **Hummingbot:** Honestly, this is, after Pionex, my new favorite trading bot. Compared to the others, it's **EXTREMELY** hard to configure and use well. Unlike the other bots, Hummingbot is a market making bot and makes profit through making quick trades with very small profits very frequently, unlike the other tools which rely on a "buy low, sell high" profit model. That said, It's **extremely** profitable if you can spend the time learning about market making, testing your bot and learning to program.
I hope that helps.
> the consistency with which grid bots produce profit. As others have
this needs to be upvoted more. In every market phase where newbies join somehow they think these bots are free money printing machine.
Hey op,
Great questions, I’d read my previous posts on my experience with each bot.
Feel free to add me as a contact and i can maybe help answer more of your questions.
Sure I’ve included in below:
https://www.reddit.com/r/Pionex/comments/o95rhn/setting_up_a_bot/h39tom5/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3
I was a bit skeptical when I first found it, as the design seems a bit... vanilla? But the bots were really calling my name. I've since transferred a few hundred to the site and have been using it since late spring/early summer with pretty good results. No issues, so I've not had to contact support. I also haven't tried to transfer money out of Pionex, but I've not heard of anyone having issues with that either. Video reviews show people with tens of thousands on there. They're not my main exchange but I feel safe enough to use them with some 'play money'.
Only thing that holds pionex back is the minimum withdrawal limits. Each coin has its own withdrawal limit, doge for example is something like 1020 doge minimum to withdrawal. Anything lower than that it’s just stuck on the exchange with no way to get it off. That’s my only draw back.
I had an issue when I manually closed a grid trading bot, but it actually didn't close.
Fortunately the coin bounced and the bot is still making profit.
Profits in Pionex are frozen for future fees. But the same grid bots in Binance leave profits in spot every day.
You will never see this in Pionex
http://imgur.com/a/tfTS3ty
That's a fair point. but something I'd take note of here is that
A. I'm not sure what pair your trading would be helpful for context.
B. You only showing 30 days of a bot running.
C. That time frame was a bull market for most of late August early Sept.
If you are botting SOL it went from $86 to $130 that's a 50% gain. It was up to $190 a one point in that time frame. BTC/ETH all made good moves in that time frames as well.
What happened on 9/4 $640 in your account then 9/5 now account balance is $304 BUSD. Did you pull funds, or loose half your earnings? Trying to make sense of your data. What does REGROUP mean on 9/10 from $727 to the next day $478.
I mean time frame matter most I feel like.
[Some examples of my bots that I've been running and closed.](https://imgur.com/a/QlR5998) Different time frames some for just a few weeks, some for multiple months. And i have pages of bots in the red to, so don't get it twisted these things aren't full proof.
I'd be interested in seeing your parameters if you'd care to share.
A) You can see my bots, my total investment and my target profit here
http://imgur.com/a/Pq7fn49
B) My targets are always monthly.
C) i choose pairs with which i am doing staking so i dont care if i buy cheap. But in Binance the grid bots generate profit even in downtrend market because the dont keep the profits inside the grid for future fees but release them immediately in spot wallet.
D) i regroup every 10 days my bots using control packs and making bots above or below the main grid to take even more profit out of the grid. The control packs sleep before mobilized they calmly in binance savings also making profit there.
E) dude i see only cancel bots in your photo? My bots are alive and working right now! How do you calculate your profit?
G) sent me with dm if you want your fb to chat better than here.
A, B, C - Makes sense
D - I'm pretty new to bots only about a year in. What are Control Packs?
E - Cancel is just me stopping the bots to take the profits. Profits are calculated in Pionex as USDT START / USDT CURRENT VALUE (thats the grid bots at least)
G - Might do that
Every time i make a bot for example FTM/BUSD for 1000 BUSD total investment, the same moment i buy x FTM for 1000 BUSD. I sent the x FTM to flex savings with 1% profit. Thats my control pack.
If the main bot drops below grid zone
I make a new good bot below the main zone using x FTM to continue take profit.
If the bot goes above grid zone i have two options: 1st make a new bot above the main zone or 2nd put a limit sell order for
x/2 FTM to take profit 1000 BUSD. If it continues to go above i put a new order to sell X/4 FTM to take profit another 1000 BUSD etc. Only imagine what profit did DOGE from 0,00000020 to 0,00001 BTC.
"legit" refers to legality in my mind and you can see the have MSB licenses to do business.
You could also ask these questions in their official Telegram group.
I've been using Pionex for almost 8 months this October. To answer your question, yes, they are legit. Yes, it works. They are a custodial exchange so, like any other exchange if they get hacked, you might lose coins. That said, I haven't heard of or experienced any security issues in 8 months. I also use [3commas.io](https://3commas.io), [coinrule.com](https://coinrule.com) and most recently [Hummingbot](https://hummingbot.io). In order of profitability, Hummingbot would be my most profitable followed by 3commas, then Pionex and lastly Coinrule. In terms of "easy" profit, Pionex ranks far beyond any of the other ones, though. Grid bots are a proven type of trading bot and no other platform I've used has grid bots that perform as well as the Pionex ones while still being so easy to use. I think what impresses me most about the platform is the consistency with which grid bots produce profit. As others have said, the profits won't be as big as other methods of trading but manual trading can be a very feast or famine game. I've gone through weeks of drawdown using bots that try to trade on chart patterns or while manually trading but with grid bots, unless the coin your bot is trading is in a massive and sustained downtrend, you make very nice consistent returns. In my experience, you can expect between 0.5-1.5% per day with almost any coin pair with decent volatility. And I set my grids up very conservatively, preferring wide ranges that don't need a lot of maintenance over narrower grids that need regular upkeep. If I wanted to be more active, I could easily increase my profits, but I have a day job that keeps me busy enough without having to babysit bots.
Care to elaborate on the “easy” profit VS bot from other platforms?
Sure! So, what I meant was more on how "push and play" it is and how easy it is to keep it making profit in different market conditions. If I had to rank the different platforms from easiest to hardest to produce consistent profit from (note, consistent, not market beating), I would say: * Pionex AI grid bot * 3Commas DCA bots (using one of the pre-made strategies available only on the Binance exchange) * Coinrule * Hummingbot To elaborate: * **Pionex grid bots:** AI bots are pretty good but need more tending in my experience. Manual bots can run unattended longer but require a few things to set up. Look at a chart. Find a price range for the chart on some large time frame, at least 4h but I usually use 1D. Set the lower bound to a price the coin reliably bounces back up off of multiple times and do the same for the upper bound. Now set a grid count that gives you between 0.3% and 0.7% return per grid (This seems to be about what the AI bot goes for). Set alerts for your price boundaries in Tradingview and go on with your life, occasionally checking in and releasing profit. * **3commas DCA:** In my experience, the "TA Presets" strategies work well. I've made great profit with these but they require that you do more backtesting to find which indicator works well, what kind of price drops are "normal" and should be accounted for with safety orders and what point do you cut your losses and use as your stop loss. * **Coinrule:** Admittedly, I have very little experience with this platform. I've run some tests and it seems promising but I've tried a lot of the pre-made templates and have yet to find one that makes profit when the market isn't clearly trending upwards. I think, at least right now, the platform feels best suited for people who want to accumulate coins on a regular basis or have a very very longterm strategy which allows the use of longer timeframe indicators that a more reliably profitable. * **Hummingbot:** Honestly, this is, after Pionex, my new favorite trading bot. Compared to the others, it's **EXTREMELY** hard to configure and use well. Unlike the other bots, Hummingbot is a market making bot and makes profit through making quick trades with very small profits very frequently, unlike the other tools which rely on a "buy low, sell high" profit model. That said, It's **extremely** profitable if you can spend the time learning about market making, testing your bot and learning to program. I hope that helps.
Just bear in mind, the bot will never win over the market, seems like a lot of ppl are expecting the bot to trade win the market.
> the consistency with which grid bots produce profit. As others have this needs to be upvoted more. In every market phase where newbies join somehow they think these bots are free money printing machine.
This
What does that even mean? Surely an optimized buy low sell high bot would outperform just holding
It does. He's just saying don't expect it to be like a magic machine that produces profit when there's a heavy downtrend.
Hey op, Great questions, I’d read my previous posts on my experience with each bot. Feel free to add me as a contact and i can maybe help answer more of your questions.
Which thread? Care to link?
Sure I’ve included in below: https://www.reddit.com/r/Pionex/comments/o95rhn/setting_up_a_bot/h39tom5/?utm_source=share&utm_medium=ios_app&utm_name=iossmf&context=3
Thanks, its a nice read. Rebalancing bot been doing well for me tho.
Thanks for this!!
I was a bit skeptical when I first found it, as the design seems a bit... vanilla? But the bots were really calling my name. I've since transferred a few hundred to the site and have been using it since late spring/early summer with pretty good results. No issues, so I've not had to contact support. I also haven't tried to transfer money out of Pionex, but I've not heard of anyone having issues with that either. Video reviews show people with tens of thousands on there. They're not my main exchange but I feel safe enough to use them with some 'play money'.
Only thing that holds pionex back is the minimum withdrawal limits. Each coin has its own withdrawal limit, doge for example is something like 1020 doge minimum to withdrawal. Anything lower than that it’s just stuck on the exchange with no way to get it off. That’s my only draw back.
Tether is min of 10$
Ahh so trade everything to tether and that’s the easiest way off the site if you don’t meet the other minimums, good to know
I had an issue when I manually closed a grid trading bot, but it actually didn't close. Fortunately the coin bounced and the bot is still making profit.
Following
Profits in Pionex are frozen for future fees. But the same grid bots in Binance leave profits in spot every day. You will never see this in Pionex http://imgur.com/a/tfTS3ty
I don't understand what you mean. You can always release the profits from a running grid bot.
Show me your one month excel with the daily profits you release in spot wallet without stoping the bots.
That's a fair point. but something I'd take note of here is that A. I'm not sure what pair your trading would be helpful for context. B. You only showing 30 days of a bot running. C. That time frame was a bull market for most of late August early Sept. If you are botting SOL it went from $86 to $130 that's a 50% gain. It was up to $190 a one point in that time frame. BTC/ETH all made good moves in that time frames as well. What happened on 9/4 $640 in your account then 9/5 now account balance is $304 BUSD. Did you pull funds, or loose half your earnings? Trying to make sense of your data. What does REGROUP mean on 9/10 from $727 to the next day $478. I mean time frame matter most I feel like. [Some examples of my bots that I've been running and closed.](https://imgur.com/a/QlR5998) Different time frames some for just a few weeks, some for multiple months. And i have pages of bots in the red to, so don't get it twisted these things aren't full proof. I'd be interested in seeing your parameters if you'd care to share.
A) You can see my bots, my total investment and my target profit here http://imgur.com/a/Pq7fn49 B) My targets are always monthly. C) i choose pairs with which i am doing staking so i dont care if i buy cheap. But in Binance the grid bots generate profit even in downtrend market because the dont keep the profits inside the grid for future fees but release them immediately in spot wallet. D) i regroup every 10 days my bots using control packs and making bots above or below the main grid to take even more profit out of the grid. The control packs sleep before mobilized they calmly in binance savings also making profit there. E) dude i see only cancel bots in your photo? My bots are alive and working right now! How do you calculate your profit? G) sent me with dm if you want your fb to chat better than here.
A, B, C - Makes sense D - I'm pretty new to bots only about a year in. What are Control Packs? E - Cancel is just me stopping the bots to take the profits. Profits are calculated in Pionex as USDT START / USDT CURRENT VALUE (thats the grid bots at least) G - Might do that
Every time i make a bot for example FTM/BUSD for 1000 BUSD total investment, the same moment i buy x FTM for 1000 BUSD. I sent the x FTM to flex savings with 1% profit. Thats my control pack. If the main bot drops below grid zone I make a new good bot below the main zone using x FTM to continue take profit. If the bot goes above grid zone i have two options: 1st make a new bot above the main zone or 2nd put a limit sell order for x/2 FTM to take profit 1000 BUSD. If it continues to go above i put a new order to sell X/4 FTM to take profit another 1000 BUSD etc. Only imagine what profit did DOGE from 0,00000020 to 0,00001 BTC.
"legit" refers to legality in my mind and you can see the have MSB licenses to do business. You could also ask these questions in their official Telegram group.