Pionex

Pionex is a medium-volume crypto exchange known for a large selection of trading bots in the market. The exchange has been operating since 2019, and is a good choice for both beginners and experienced traders.

Beginner-friendly features include easy and cheap fiat deposits, quick conversion, paper trading, and a good selection of beginner tutorials. For experienced traders, Pionex has adequate volume and altcoin selection, all wrapped up in an excellent trading interface. Plus, a good selection of trading bots can help you create automated and strategy trades.

Why use Pionex?

During our Pionex review process, we look at practically every aspect of the exchange’s operations. From account creation, deposits and withdrawals, to executing trades, fees, and in-depth look into other features such as staking and trading bots.

Our list of pros and cons are a quick recap of factors we liked and disliked most about this exchange.

Our comprehensive Pionex review below will answer every question you could possibly have about this crypto exchange. So, keep on reading to learn more, and contact us at any time if you can come up with additional questions!

Is Pionex good for beginners?

We didn’t find any issues that would make Pionex complex to use. It uses a standard crypto exchange interface that will be familiar to everyone who used an exchange before. For complete newbies, a short adjustment period will be required, but that is the case with every trading platform.

To help assist new investors with their first Bitcoin purchase, Pionex has a few interface elements that make it easier to trade and learn.

1. Convert

The “Convert” is the standard instant convert or quick buy option used to one-click convert one cryptocurrency into another. This means beginners can skip the “complex” spot trading interface, albeit they will pay a higher fee through quick convert.

Not all exchanges have quick conversion feature. We liked that Pionex understands and recognizes the needs of beginner investors, because not everyone is used to complicated trading interfaces at first.

2. Demo Trading

Another beginner-friendly option is Demo Trading, allowing beginners to practice trading with mock (fake) funds. Pionex will give you $100,000 in paper funds to practice with. These fake funds can be a great way to get familiar with the user interface and gain confidence in executing trades.

3. Easy fiat deposits

Pionex lets you deposit fiat currency through a SEPA bank transfer, currently without any fees. At the time of our review, Pionex just introduced this feature, so they may add a fee later.

Aside from direct bank transfers, you can also use several third-party payment methods that accept bank cards, Apple Pay, and Google Pay. However, these methods will have significantly higher fees associated. Pionex itself does not charge any deposit fees.

We’ll talk in more detail about deposit options later in this review.

4. Learning resources

Pionex has a good help and support section with step-by-step guides on every major feature and aspect of the exchange. You can find a few dozen tutorials on how to deposit, withdraw, trade, use trading bots and more.

These beginner guides also often have separate WEB and APP versions. This helps you understand how to use Pionex regardless if you use the web interface or mobile app.

In case you can’t find an answer in their support section, an easily accessible live chat option is always available site-wide. However, they do not have 24/7 support staff and will only live chat during specific working hours. Depending on your time zone, you may need to wait for a response through email.

Most important option we would like to see that would make this exchange even more friendly to newbies would be low or zero fee deposits in more local currencies. Nevertheless, fiat deposits without fees are still rare to find, and these are usually only limited-time promotional offers.

Does Pionex have a good user interface?

Pionex has a standard crypto exchange user interface that will be familiar to anyone who used a trading platform before. There were certain aspects we liked and disliked about the UI.

The menus are clean and well-organized, and we had no issues finding the information we needed. There’s not an endless amount of features and services on this exchange, so you can quickly sift through all the options to find what you need.

Several aspects of the user interface stand out as positive. First is definitely the availability of dark theme. The entire interface functions beautifully in both light and dark modes, and the switch is seamless and instant.

The entire interface is fully available in dark or night mode, including account backend (wallet, trade history, etc.). The exchange did not detect our browser’s theme preference automatically, but it didn’t matter because of the easily accessible theme swap.

We will talk more about spot and futures trading interface further below in our review, but suffice to say we found Pionex to have a few excellent usability features that aren’t often seen even on largest exchanges.

We did find some interface downsides too. For example, a full-screen popup asking you to verify identity is popping up every three minutes. They really want you to complete KYC and will remind you about it far too frequently. A bug will make sure you need to dismiss these popups multiple times in case you leave your PC unattended for a while.

Although it is a security feature, we really didn’t like that Pionex logs you out each time your IP address changes. Those using dynamic IPs or using VPNs for trading will have to re-log quite frequently.

Overall, we liked most aspects of Pionex user interface a lot. The few minor inconveniences didn’t disrupt our usage too much.

How to create an account

Creating an account on Pionex is a very simple process.

1. Visit Pionex website.
2. Click the “Sign up” button anywhere on their website.
3. Create an account using your email or mobile phone number.
   • Alternatively, you can use an existing Google or Apple account to log in.

Keep in mind that if you are located in the two dozen or so restricted countries, you will not be able to signup with a phone number.

Our signup process went smoothly. The confirmation code email was automatically sent and received seconds after we submitted our email and password. After this, the first thing Pionex asked us was to complete KYC process, but the popup was easily dismissed and we were able to continue exploring their services and features.

The first screen gives you the three most popular options: Buy Crypto, App Download and Deposit. There’s also an option to quickly create a custom trading bot or invest into structured products. Because Pionex is so focused on trading bots we didn’t find this too surprising, but we doubt most new users will immediately explore trading bots.

You can also start browsing through the new user rewards and bonuses, but keep in mind you will be required to complete KYC Level 2 in order to claim any rewards.

Does Pionex need KYC?

Pionex is one of the few exchanges where KYC (identity verification) is optional. In order to do basic trading, deposit or withdraw, you are not required to complete identity verification.

No-KYC limits

Without the completion of ID verification, there are several restrictions you should be aware of. Here’s a breakdown of limits if you do not complete KYC:

Features	Unverified	KYC Level 1	KYC Level 2
Trading Limits	×	√	√
Depositing Limits	×	√	√
Fiat Limits	×	Developing	Developing
Daily withdrawal limit (in USD)	0	20,000 USD	1,000,000 USD
30 days  withdrawal limit (in USD)	0	100,000 USD	30,000,000 USD

Completing KYC Level 1 requires providing your country and name. Submitting identification documents is only required for Level 2 verification.

If you do not complete KYC L2, you can not do fiat currency deposits (but you can deposit crypto). You will also be restricted from withdrawing more than $20,000 per day, or $100,000 per month.

Several other features also appear to be restricted behind the KYC-wall, including demo trading and using trading bots. However, spot and futures trading, and crypto deposits and withdrawals will be fully available.

If you do not need privacy, then completing KYC is a simple process. Submit your full name, copy of your government-issued identity documents, and that’s it. Make sure you are not in any restricted region.

Of major markets, Pionex does not allow customers from United States, China, Netherlands, Canada, United Kingdom, and Spain. Complete list of restricted countries is available at the end of this Pionex exchange review.

Does Pionex have good welcome bonuses?

Pionex has welcome bonuses for new users, but we didn’t find them particularly appealing. They claim to give $2,125 in bonuses, but you can immediately subtract $2,000 if you have no friends to refer.

The easiest bonuses to claim are for signup, first deposit, ID verification and futures trade. You can do all these with just $100 deposit, and claim bonuses worth $10. However, the rewards are in the form of futures bonus. These funds can only be used to open positions on futures market, or as collateral. You can not withdraw them, or use them to offset fee costs.

How to deposit fiat on Pionex

To access fiat deposit options on Pionex, click the “Buy Crypto” in main menu. Your options are Express (3rd party payment providers), and Bank Transfer.

Deposit fiat with Bank Transfer

As mentioned previously, Bank Transfer option has only been added recently. This option allows you to purchase USDT with zero fees, but with some caveats.

You can currently only use three fiat currencies – EUR, GBP, and BRL:

• Euros: standard SEPA payment (no fee).
• British Pounds: You can use CHAPS or FPS to send your pounds (no fee).
• Brazilian Real: Payment through BetcatPay (4 BRL fee).

If you can use these currencies and payment methods, buying crypto on Pionex is going to be very cheap. BRL is currently the only currency with a deposit fee, but it’s only 4 BRL (< 1 USD).

Deposit fiat with Express

Express option on Pionex uses typical 3rd party payment gateways similar to other cryptocurrency exchanges. BANXA, AlchemyPay, and Volet are available. Simplex wasn’t accessible during our review but we did notice it existed, so it may get added later.

These 3rd party companies accept over 90 local currencies through more than 30 different payment methods, including Visa, MasterCard, Google Pay, and Apple Pay. Downside is that buying with these payment methods always has higher fees associated. Buying with credit or debit cards on certain gateways can have fees upwards of 4%, so make sure to review the options and methods carefully!

How to withdraw from Pionex?

First of all, Pionex does not support fiat currency withdrawals. You will not be able to withdraw USD, EUR or other local currencies directly to your bank account. Crypto withdrawals are supported, of course.

Here’s how to withdraw crypto from Pionex step by step:

1. Find “Wallet” in the main menu.
2. Click the “Withdraw” menu item.
3. Select cryptocurrency asset you wish to withdraw from the list.

There are only two requirements before you can withdraw cryptocurrency:

• First, you must bind your phone number or Google Authenticator. This is a basic 2-factor authentication method which you should enable anyway for security reasons.
• Secondly, you will need to submit Level 1 KYC information. Level 1 does not require you to send any documents. Instead, you will only need to provide the exchange with your country and name.

Pionex will charge a $1 withdraw fee for USDT (Tether) on TRC-20 network. This fee is same with nearly all other exchanges. Other cryptocurrencies and blockchain networks have their own associated fees, depending on asset, network, and current congestion. For USDT, you can also use Optimism or Arbitrum and reduce the fees to less than $0.20.

Here are withdraw fees for several other major crypto assets, using their respective mainnets as withdrawal network:

• Bitcoin: 0.00012 BTC
• Ethereum: 0.0015 ETH
• Solana: 0.01 SOL
• Bitcoin Cash: 0.00025 BCH
• Fantom: 0.1 FTM
• Litecoin: 0.0001 LTC
• Manta: 0.15 MANTA
• Sui: 0.06 SUI
• Dogecoin: 4 DOGE

Full breakdown of withdraw fees is available on Pionex’s website here.

As part of our exchange review process, we always attempt a small USDT withdrawal through TRC-20. We encountered no issues while withdrawing, and Pionex processed the withdrawal in about 8 minutes.

How to trade on Pionex

We already covered how to buy your first crypto through Express buy or Bank Transfers. We also explained their Convert option, but let’s go over all the trading options available on this exchange.

Convert

Convert allows you to convert one crypto asset into another with a couple of easy clicks. All assets listed on spot market seem to be available for quick conversion. In our quick test, the spread was insignificant, and fees were only slightly higher compared to spot.

The quick convert option is intended for complete beginners who do not want to deal with any hassle, and it functions perfectly for this goal.

Spot and futures trading

Spot trading is standard and nearly identical to other crypto trading platforms. You have your standard TradingView chart, order book, trades, open positions, and buy/sell part where you can set limit orders, market orders, and grid buys.

We found it a little bit disappointing that Pionex doesn’t allow us to re-arrange or resize elements on the spot and futures trading interface. However, we absolutely love the fact that we were able to remove the Order Book and Market Trades from the interface.

Most exchanges do not let you remove the order book and recent market trades, which can lead to unnecessary processing power and memory issues while multiple trading windows are open.

Another thing we found absolutely refreshing on Pionex is the ease of setting up stop loss and take profit orders. Once you open a position, you can simply click and drag on the small buttons as shown in the image to set a quick TP or SL order.

It truly makes us wonder why more exchanges do not have this convenience. This is a fantastic feature to improve user experience and save time. Needless to say, Pionex also supports dragging TP and SL orders on the chart for quick adjustments.

On futures, you can use both Cross and Isolated margin modes. Maximum leverage you can apply is 100x. You can also use Single-Asset Mode and Multi-Assets Mode as collateral. If you don’t know what that means, don’t worry, because Pionex provides you with a quick tutorial on this and other features.

There is no margin trading on Pionex. However, you can trade leveraged tokens. Leveraged tokens allow you trade with leverage, but without the fear of liquidation. There are over 50 leveraged assets available for trading, including DYDX, ETH, EOC, FIL, ATOM, SOL, ETH, NEAR, ADA, DOGE, OP, ALGO, APT, AVAX, and more.

Overall, hats off to Pionex for providing an excellent trading user interface, and even being ahead of other exchanges in certain aspects.

Trading bots

Pionex prides itself by being the world’s leading copybot platform. That’s the first thing you see on their homepage! There are other exchanges, such as Bitget, that also focus on providing a variety of trading bots to their customers.

If you want to try your hand at automated or strategy trading, Pionex can be a good choice. They currently have 16 free built-in trading bots.

Spot trading bots are categorized into Strategy, Sideways, Bullish and Bearish.

• Strategy bots: Bitcoin and Ethereum Moon Bots (range grid bot), and Bitcoin Growth (bitcoin miner bot).
• Sideways bots: grid trading, DCA (dollar-cost average), leveraged and margin grid bots, and smart trade with trailing orders.
• Bullish bots: grid trading, rebalancing, arbitrage bot, leveraged and margin grid bots, infinity grid bot, and trailing sells.
• Bearish bots: these include margin and reverse grid bots, leveraged reverse bot, trailing buys, and TWAP bot.

Futures trading bots have fewer available ones, including futures grid, cross margin futures grids, and signal bot.

Trading bots beginners can use include DCA and rebalancing bots, as these are intended for investing rather than speculative trading. Using other bots is best left to those experienced with them. You must make sure you understand how to use trading bots before attempting to use them, as poorly executed trading strategies can lead to losses.

Quick overview of trading bots:

The Grid Trading Bot automatically buys low and sells high within a user-defined price range, leveraging market fluctuations for profit. Arbitrage Bot exploits price differences between spot and futures markets, promising returns of 15-50% APR with minimal risk.

For those interested in a long-term investment strategy, the Dollar-Cost Averaging (DCA) Bot allows users to schedule regular purchases at set intervals, such as every few minutes or every month. The Trailing Sell Bot helps investors avoid selling too early in a rising market by setting multiple target prices that adjust as the market climbs.

Pionex also provides advanced bots like the Leveraged Grid Bot, which multiplies investments using leverage, and the Reverse Grid Bot, designed to increase token holdings while lowering maintenance costs. The Infinity Grid Bot ensures continuous trading without exceeding preset price ranges, while the Smart Trade Bot offers automated buying and selling with integrated profit and loss controls.

Additionally, the Time-Weighted Average Price (TWAP) Bot minimizes market impact by spreading large transactions over time, and the Dual Investment Bot provides structured savings with variable yields.

Each bot is tailored to specific trading strategies, ensuring users have the tools they need to navigate the crypto market effectively.

What is Pionex GPT?

PionexGPT is the exchange’s AI-powered trading strategy creation and optimization. Because Pionex has such a focus on trading bots, the PionexGPT is an invaluable tool to help you come up with profitable strategies based on your individual trading style and preferences.

With the help of AI, creating a trading strategy becomes a breeze. You can immediately backtest your strategy on TradingView to see whether it’s profitable, and optimize parameters to ensure it will trade with profits.

Then, once your strategy has been created and optimized, you can use the provided signal bot to execute trades automatically based on your selected parameters or criteria. Incredibly, all of this is completely free to use.

Trading fees on Pionex

We talked about deposit and withdraw fees, but trading fees are often what many traders are most curious about.

Basic spot maker and taker fees are 0.050%. Compared to most other exchanges, Pionex is much cheaper on spot! Most exchanges reviewed by us have 0.1% to 0.2% spot trading fees.

Futures trade fees are 0.020% for maker, and 0.050% for taker. This is the industry average across most cheap crypto exchange.

Referral fee discounts

You’ll be pleased to know that you can also use Cexfinder’s signup link for Pionex, giving you a permanent 10% fee rebate on both spot and futures (including trading bots). Using our Pionex signup link with embedded referral code during registration comes at absolutely no cost or drawback, so we highly recommend using it to save on fees.

VIP levels

High-volume traders can further reduce their fees by upgrading their VIP levels. For spot, upgrading from regular user to VIP 1 requires 15 BTC in 30-day volume. For futures, upgrading from regular to VIP 1 requires $1 million in volume.

These numbers may not be obtainable by casual investors, but Pionex’s overall reasonable fee structure will not be an issue for those trading with smaller amounts.

It’s worth noting that Pionex is one of the few exchanges without a native token. Therefore, our referral bonus and VIP levels are the only ways you can get cheaper trading fees.

Is Pionex good for trading altcoins?

There are nearly 400 altcoins listed on Pionex on spot market, and over 250 on derivatives. All the popular assets are available, including Bitcoin, Ethereum, Solana, Litecoin, Pepe, Cardano, Binance Coin, Dogwifhat, Avalanche, Injective, Worldcoin, Uniswap, Dogecoin, Polkadot, Near Protocol, XRP, and many more.

The coins we mentioned are amongst the highest volume and highest market cap ones on Pionex. If you want to diversify your investments, the number and selection of altcoins will be more than sufficient.

Volume and liquidity

Volume and liquidity is an issue only for traders who open 5 or 6-figure positions. Most retail investors do not need to worry about trading volumes and liquidity on Pionex. In general, Pionex is a relatively low volume exchange, frequently going in and out of the top 50 exchanges by volume on coin tracking websites such as Coinmarketcap and CoinGecko.

Those who are concerned about liquidity on trading pairs need not be. For added liquidity on their trading platform, Pionex partners with Binance and HTX, two very large and high-volume exchanges. This ensures traders on Pionex will not experience any unnecessary slippage or other volume or liquidity issues when trading, regardless of volume.

Structured earn options

Pionex has Dual Investment (options trading) products, letting you invest and buy USDT, BTC, ETH, SUI, ARB, SOL, ADA, BNB, and a number of other cryptocurrency assets. This is not intended for beginners. Before attempting to make a profit with options trading, you must at least go through their tutorials and other learning resources to understand how options trading works.

Additionally, you can use the Earning Robot to invest into assets or options. This can generate high annualized returns and daily interest. But, again, this also isn’t intended for beginners.

Are staking yields on Pionex good?

When it comes to earning passive income, staking is a great choice. Many exchanges offer staking products to their customers, and Pionex is one of them. Staking can provide you passive interest just for holding certain coins on the exchange.

On Pionex, you can stake USDT, ETH, AAVE, COMP, DOGE, DOT, EOS, FTM, LINK, LTC, MATIC, PEPE, RUNE, SHIB, SOL, UNI, XRP, and a number of other assets with smaller market caps. The returns are truly all over the place, going from as low as 0.01% to 4.69%, depending on currency. In general, we found most staking assets on Pionex to have lower yields compared to other exchanges.

See our staking guides for APY comparisons of many assets and exchanges.

In case you are holding and trading any of these coins on this exchange, you can always take advantage of the yields to gain an extra return. But if staking is your primary goal, you can typically find alternative exchanges with higher annual returns.

Is Pionex a safe exchange?

Regulatory approvals

Pionex has an MSB (Money Service Business) license in the United States (Registration number 31000188348895), provided by FinCEN (U.S. Treasury Financial Crimes Enforcement Network). Aside from this, we couldn’t find any other major government or institution where Pionex is regulated.

It’s important to mention that because Pionex is privacy-focused and has optional KYC, obtaining regulatory licenses and approvals is difficult.

Funds safety

Pionex has been operating since 2019 without any security incidents. The website does not publish any information regarding their safety and security protocols. Therefore, we can not confirm whether they use adequate cold storage solutions, multi-signature protocols, or other safety measures.

Proof of Reserves

To prove Pionex has all customer funds accounted for, the exchange uses the industry-standard Merkle Tree. Two independent auditing firms (Elite Partners from Hong Kong, and Moore, 100-year old reputable London-based auditing company) completed their first audit report back in early 2023.

All customer funds were accounted for in this audit. However, we can find no other audits or proof of reserves reports since. Proof of Reserves is a basic transparency report that many exchanges publish, and we would like to see Pionex do it on a regular basis.

Account security

Keeping funds safe is of utmost priority. On Pionex, the only level of protection for your account is 2-factor authentication (2FA). This is available through email, mobile phone number, or Google Authenticator.

We would like to see more account protection features added to Pionex. It’s not overly complex to add additional trading passwords, withdrawal passwords, address whitelists, or anti-phishing codes to start with.

Overall, basic account safety features do exist to keep your funds safe on Pionex, but we are not particularly satisfied with the lack of advanced security options.

Bug bounty

Pionex has a bug bounty program. This ensures users who detect potential security vulnerabilities can receive monetary rewards for reporting. In case of hacks, exploits or other security breaches, bug bounties make it less likely there will be serious damage or funds lost.

Is Pionex legit or scam?

• Pionex has been operating since 2019.
• There are no previous hacks or other security incidents recorded.
• Company is headquartered in British Virgin Islands, with offices in Singapore and United States.
• Company ownership, team and corporate structure is not readily available.
• According to Pionex Global’s Linkedin page, the company employs over 200 people.
• Account security measures include basic 2FA.
• There are no regularly published Proof of Reserves reports.
• Exchange does not hold any noteworthy regulatory licenses aside from basic U.S. MSB.
• CER, cybersecurity ranking and certification platform, ranked Pionex’s security as CC (45-45 out of 100).

Overall, Pionex is not very transparent as a company or as an exchange. We do not know anything about their security measures and protocols to keep customer deposits safe.

You should always adhere to essential security best practices to protect your exchange accounts and assets. Because of basic security measures and lack of transparency into Pionex’s operations, we do not advise keeping a large amount of crypto assets on this exchange. Keep basic funds required for day trading on exchanges, and regularly withdraw profits to safe crypto exchanges or self-custody wallets.

However, we checked multiple sources including social media, and found no evidence to substantiate any claims that Pionex is a scam. The lack of advanced security features, regulatory licenses and safety certificates can be attributed to them being a relatively new crypto exchange, but we did not see any proof of scams, misuse of funds, or other concerns.

How to contact Pionex’s customer support

Pionex support staff is available through Email and live chat through website or Telegram. The links can be found in the footer across their website, or their “How to contact us” article. Live chat support is available during their working hours from 00:00 to 13:30 UTC.

The Help Center does include a number of useful articles, tutorials and guides explaining how to use Pionex, including how to trade, withdraw or deposit, solve 2FA errors, and more. In most cases, referring to their help center can solve common issues or answer frequent questions.

Pionex customer reviews

We checked out a variety of social media and review websites such as Reddit, TrustPilot and app stores in order to gauge the overall impressions Pionex customers have on this exchange.

Positive reviews about Pionex

• Users have praised Pionex for its user-friendly trading bots and low fees. They appreciate the diverse range of bots available, such as Grid, Martingale, and Rebalance, which cater to both beginners and experienced traders.
• Many reviewers highlighted the platform’s ease of use, even for those who aren’t tech-savvy. The regular updates and improvements to the platform have also been noted as a positive aspect.
• Additionally, users commend Pionex for its quick and clean user interface on both web and mobile apps.
• The support team’s responsiveness and helpfulness have been frequently mentioned, further enhancing the overall trading experience.

Negative reviews of Pionex

• On the downside, some users have reported issues with withdrawals and high fees.
• A few traders experienced delayed data updates and slippage due to the platform’s reliance on external liquidity pools from HTX and Binance.
• Furthermore, there were mentions of occasional losses attributed to bot performance, with users feeling that certain tutorials and tools could be more informative to prevent such occurrences.

Overall, while the platform has received positive feedback, these negative experiences highlight areas for potential improvement. Pionex also actively responds to user feedback on TrustPilot and other websites and does their best to direct users how to resolve their issues and contact customer support staff for assistance.

App store reviews

Pionex’s mobile app is a convenient way to trade on the go. It’s available on iPhones and Android devices. Here’s what users had to say.

Android app reviews

Android users generally appreciate Pionex for its wide range of trading bots and intuitive interface. They find the app easy to navigate, with features that cater to both novice and seasoned traders. Positive feedback highlights the low trading fees, regular updates, and responsive customer support.

However, some users have reported technical glitches, including occasional crashes and slow load times. There are also a few complaints about difficulties with the withdrawal process and the effectiveness of certain trading bots. Despite these issues, the overall sentiment among Android users is positive, with many recommending the app for automated trading.

On Google Play, Pionex’s Android app has received mostly positive reviews, and is rated at 4.2/5.

iOS reviews

Apple users also praise Pionex for its diverse bot options and user-friendly design. They enjoy the seamless integration of trading tools and the straightforward setup process for bots. Many reviews commend the app’s stability and the continuous improvements made by the development team.

Nevertheless, some users have mentioned issues with customer support response times and occasional bugs that disrupt trading activities. There are also concerns about high withdrawal fees and the accuracy of bot performance.

Overall, iOS users find Pionex to be a valuable tool for automated trading, though they acknowledge areas where the app could improve. App store users rate Pionex’s app at 4.7/5.

What are best Pionex alternatives?

Depending on your preferences and trading interests, there are multiple exchanges that are good alternatives to Pionex. Based on specific criteria, here are a few crypto exchanges we recommend as top Pionex alternatives based on specific criteria:

• Fiat deposits: Binance, Bybit, Gemini, OKX, HTX, Kraken.
• Spot trading: Binance, Bybit, OKX, HTX.
• Futures trading: Bybit, OKX, HTX, Gate, KuCoin.
• Altcoin variety: MEXC, Gate, BitMart, KuCoin, LBank, Bitrue, HTX, Bitget.
• Lowest fees: HTX, OKX, WhiteBIT, XT, CoinW, LBank.
• Staking and savings: Gate, Bitget, Bitrue, OKX, HTX, KuCoin.
• Trading bots: Bitget, Bybit, Binance.
• Safest and regulated: Binance, Gemini, Kraken, Coinbase, Bitfinex.
• Optional KYC: MEXC, BingX, Blofin, LBank, XT, BitMart.

Some of the exchanges may be unavailable in your region, so do not forget to use our country list to find top exchanges available in your jurisdiction.

Final score: Is Pionex a good exchange?

Our review checked every feature available on Pionex, and we also tested and rated the user interface, ease of withdrawals and deposits, customer support options, safety features, and even customer feedback.

Based on all available data, our team has given Pionex the following score:

In general, we found Pionex to be a solid choice for beginners, but also advanced traders. No-fee fiat deposits and quick conversion features are excellent for beginners. For advanced traders, the derivatives trading experience has been stellar for us.

Pionex also shines in the trading bot department. Those curious about automating trading strategies to remove emotions from their equations will find Pionex’s selection of 16 trading bots more than sufficient. All trading bots are seamlessly integrated into the exchange and are completely free to use.

On top of this, Pionex has some of the lowest spot trading fees we’ve come across. Futures trading fees are average compared to other exchanges, but you can use our referral code during signup for a lifetime fee discount.

Because Pionex is a no KYC exchange, we do not consider lack of regulatory approvals a drawback. Regulatory approvals add trust and legitimacy to an exchange, but it is common and expected for a no-kyc exchange to not have them. On the other hand, we would still like to see more clarity into exchange’s operations. This includes personnel, but also reserves and funds security measures.

Because most customers use Pionex for futures and bot trading, we did not hold their low staking yields against them too much either. There are still plenty of exchanges without any staking available. And, Pionex doesn’t have the worst yields either.

In conclusion, Pionex is a good exchange if you need a privacy-focused NO-KYC crypto exchange for cheap spot trading and relatively cheap futures trading. If you don’t mind completing KYC process, take advantage of their zero-fee fiat deposits and signup bonuses as well.