Pionex Review – Is This Crypto Exchange Worth Checking?

The first thing you notice is that Pionex doesn’t reveal any ownership or location information. Yet, they managed to build a trusted network of more than 500K users. But is it really trusted?

After reading this Pionex Review you will get a better understanding of how crypto exchanges work. But also potential issues you might come across. More tricks and dirt revealed you can find in our JAFX review.

Legal info: Is Pionex Legit?

Generally speaking, trusted exchanges hold DASP ( Digital Asset Service Provider) license. Yet, Pionex.com doesn’t have one. Even though they mention partnerships with other exchanges it might be questionable. Primarily because there are many traders reporting issues with this exchange. 

On top of all, for any disputes the arbitration shall take place in Belize and apply to applicable laws determined under the ICC Rules of Arbitration.

Who Are Pionex Clients?

One of the main features that the company offers is the Pionex trading bot. That’s practically everyone’s dream and that’s how they mostly attract newbies. Those clients of the Pionex crypto exchange mainly come from: 

• United States
• India
• United Kingdom
• Indonesia
• Nigeria

Whatever your experience with this broker is, feel free to share it with us. After all, our specialized team can advise you on crypto transfers in case you experience any difficulties.  

Traders Experience

In general, having 25% of negative reviews out of 391 in total is quite a big number. Those are the facts on the Trustpilot forum. While Pionex claims to be legitimate other traders are complaining about its services.

Also, there is a whole Pionex Reddit community where you can find the latest updates and comments about the company. Thus, if you find any discrepancies feel free to contact us for advice.

Trading Fees and Commissions with Pionex

As can be seen, Pionex Exchange has quite an average cost. With spot trading fees of 0.05% and leveraged token fees of 0.1%, it’s nothing you would cry for. 

However, for futures, they have a bit higher fees of 0.02% for makers and 0.05% for takers.

Pionex Trading Features

One of the key features of the Pionex app are trading bots. In fact, the company promotes 16 new features with a main focus on the DCA bot and Rebalancing bot. Still, with all these features and low ratings, the company is currently sitting in 28th place on CoinMarketCap.

         Is Pionex legit?

Considering the Pionex Binance partnership everyone would think that the company is legit. Yet, Pionex Trustpilot reviews say otherwise. Ultimately, the decision is yours who you are going to trust with your money.

         Available Trading Assets

Pionex trading is only possible with cryptocurrencies and crypto futures. Considering that this is a crypto exchange they have quite a solid offer. Yet, traders are limited only to one asset class. On the other hand, you have brokers that offer way more. But be careful to trade with a licensed one and learn warning signs from our 12Trader review.

         Account Types

Every company thrives for more invstments. For that reason, Pionex is creating VIP programs. In fact, eight of those (VIP1-VIP8). The idea is to get investors to deposit more crypto in exchange for a lower commission.

         Mobile Trading App

Surprisingly, Pionex mobile apps have a high download rate. It’s available for both, iOS and Android users. However, some traders were reporting issues with the software while depositing and withdrawing money. This makes you wonder if is Pionex legit.

         Demo Account

Unlike classic brokerages, Pionex doesn’t offer a demo account. Still, you can with only $1 and create your first account. Thus, once you want to deposit money, depending on the account you are getting redirected to their partner companies.

         Education

As for the educational part, you don’t have to complete Pionex sign in process. Yet, the educational package is quite poor. In fact, you can only learn from their blog.

Pionex Withdrawal

On the positive side, Pionex withdrawal fees are completely transparent. However, there is a maximum daily withdrawal depending on the KYC level. On the first level, you can get 20.000 USDT and on the second 1M USDT. Important to realize is that you can’t exchange crypto for FIAT money.

Therefore, you have to use another exchange or physical wallet to store crypto and convert it to real money. Most importantly, to pay more fees. Yet, some traders reported issues during withdrawals. With this in mind, you might as well opt for other exchanges or brokers.

Customer Support

Quite surprising is that on Pionex.com you have only two contact options. Moreover, for one you have to complete the Pionex login procedure or register if you are a guest. The options are e-mail and live chat. 

HoweverThus, many customers complained about their support. Even though Pionex minimum deposit might attract you to invest, you should rethink it considering all these facts.

Key Information To Consider About Pionex?

The main thing that bothers every trader is negative reviews. Most of the time, those are hard truths. Instead of gambling and having nightmares you can invest with trusted exchanges. But also licensed brokers with many more options.

In either case, our team is available to advise you on any trading topic and even help you with the refund if needed. Most importantly, the first consultation is completely free and without any obligations. Ultimately, everything is on you. Get in touch with us today!

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