Pionex foreign exchange brokers specializing in providing foreign exchange trading services, the company's official website https://pionexuphold.online/login/signup.php?ref, about the company's legal and temporary regulatory information, the company's address .
Pionex Forex Broker
Basic Information
United States
2-5 years Suspicious Regulatory License Suspicious Scope of Business High potential riskCompany profile
Rating Index
Pionex Broker - Complete Information Guide
1. Broker Overview
Pionex, established in 2019, is a cryptocurrency exchange headquartered in Singapore. It operates as a private company and has quickly gained recognition in the crypto trading community. Pionex primarily serves retail traders looking for automated trading solutions, positioning itself as an innovative platform that integrates trading bots directly into its services.
Since its inception, Pionex has achieved significant milestones, including the launch of its automated trading bots, which are now a hallmark of its offering. With a daily trading volume exceeding $30 million, it has attracted over 100,000 users globally. Pionex's business model focuses on providing retail cryptocurrency trading services, leveraging its partnerships with major exchanges like Binance and Huobi to ensure liquidity and competitive pricing.
The company is backed by prominent investors, including Zhen Fund and Gaorong Capital, which adds to its credibility and operational strength. Pionexs unique selling proposition lies in its offering of 16 free trading bots, allowing users to automate their trading strategies without prior programming knowledge.
2. Regulatory and Compliance Information
Pionex is regulated under the Money Services Business (MSB) license by the Financial Crimes Enforcement Network (FinCEN) in the United States. The license number is 31000166323126, indicating compliance with anti-money laundering (AML) and know your customer (KYC) regulations.
The regulation ensures that Pionex adheres to stringent standards designed to protect users and their investments. Pionex has implemented customer funds segregation policies, which means that user funds are held separately from the companys operational funds, providing an additional layer of security.
Pionex does not participate in any investor compensation schemes, which may be a consideration for potential users. Nonetheless, the platform is committed to KYC and AML compliance, requiring users to verify their identities before trading to mitigate risks associated with fraud and money laundering.
3. Trading Products and Services
Pionex offers a wide array of trading products, focusing primarily on cryptocurrency trading. The platform supports over 340 cryptocurrency pairs, including major coins such as Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and various altcoins.
In addition to spot trading, Pionex provides access to Contract for Difference (CFD) products, allowing users to speculate on price movements without owning the underlying asset. The platform also features unique products like dual investment, which enables users to earn interest on their holdings while setting target prices for asset conversion.
Pionex's trading services cater to both retail and institutional clients, with a focus on automated trading through its robust suite of bots. The platform is continually updating its offerings, integrating new cryptocurrencies and trading strategies based on market demand.
4. Trading Platform and Technology
Pionex operates a proprietary trading platform that is accessible via both web and mobile applications for iOS and Android devices. The platform is designed to be user-friendly, featuring a simple interface that allows traders to navigate easily between various functionalities.
While Pionex does not support MetaTrader 4/5, it provides its own trading environment equipped with essential trading tools, including advanced charting capabilities and real-time market data. The platform supports various execution modes, primarily focusing on market making, which ensures liquidity for its users.
Pionex also offers an API for automated trading, allowing more advanced users to integrate their own trading strategies with the platform's functionalities. This flexibility caters to both novice traders and experienced algorithmic traders looking for a robust trading environment.
5. Account Types and Trading Conditions
Pionex offers a standard account with no minimum deposit requirement, making it accessible for traders of all levels. The trading fees are competitive, with a flat rate of 0.05% for both maker and taker orders.
For high-volume traders, Pionex has a VIP account structure that rewards users based on their trading volume over a rolling 30-day period. As users reach higher tiers, they can benefit from reduced trading fees and enhanced trading conditions. Additionally, the platform offers leverage options, with varying ratios depending on the trading product.
Pionex does not provide a demo account for practice trading, which may be a limitation for some users. However, the platform does allow for a minimum trading volume, which varies by asset, ensuring that even small traders can participate in the market.
6. Funds Management
Pionex supports a variety of deposit methods, including cryptocurrency deposits and credit card payments. Users can deposit funds in over 40 cryptocurrencies, including Bitcoin and Ethereum, with no minimum deposit requirement.
Deposits are typically processed instantly, while withdrawal processing times may vary depending on the cryptocurrency and network conditions. Pionex charges a withdrawal fee of 0.0005 BTC for Bitcoin withdrawals, while other cryptocurrencies may have different fee structures.
The platform does not support fiat withdrawals, which could limit some users. This focus on cryptocurrency transactions aligns with Pionex's business model as a crypto-centric exchange.
7. Customer Support and Educational Resources
Pionex provides customer support through multiple channels, including email and a community presence on social media platforms. The platform does not offer telephone support, which might be a drawback for users seeking immediate assistance.
The customer service team is generally responsive, with inquiries typically answered within a few hours. Pionex also has a comprehensive FAQ section that addresses common questions and issues.
In terms of educational resources, Pionex offers tutorials and guides on how to use its trading bots effectively. However, the platform could benefit from more extensive educational content to help new users understand cryptocurrency trading better.
8. Regional Coverage and Restrictions
Pionex operates globally, serving a wide range of markets. However, it does not accept clients from certain countries, including the United States, China, and several others under international sanctions.
The platform's services are primarily available in regions with established cryptocurrency regulations, including Singapore and various countries in Europe. Users should verify their eligibility based on their location before attempting to open an account.
In conclusion, Pionex stands out as a broker that integrates automated trading solutions into its platform, providing users with innovative tools and competitive trading conditions. While it has some limitations, particularly regarding fiat transactions and educational resources, its unique offerings may appeal to both novice and experienced traders looking to leverage automated strategies in the cryptocurrency market.
Nguyễn Lê Bình
Vietnam
I joined Pionex(https: www.pionyuqv.com) on May 13, 2024. Until now, May 21, 2024, I traded and earned 2,520,328,000 VND, but the exchange requires 20% tax of profit. After paying, they asked for another 5% non-money laundering guarantee fee. After paying 5%, they asked to pay an 8% conversion fee of USDT to VND. I didn't feel right so I didn't continue paying. When I contacted the customer service department to clarify the regulations regarding this transaction, they not only did not respond but also blocked my ID. So I could not contact them. From June 13, 2024, I have been unable to contact them. I hope everyone will help and stay away if you want to trade with this exchange.
Exposure
2024-06-28