Grid Trading Bot is one of the 16 inbuilt bots provided on the Pionex platform. Pionex is a revolutionary exchange offering market-leading crypto bots of which the grid bot is a popular product. With the free bots of the platform, your trading is automated 24/7 as the bots do all the hard work of finding the right entries and executing them.
What is Grid Trading Bot?
The bot uses the grid trading strategy which involves a bounded price range in which the bot buys low and sells high. The price range is split into many grids, and above the existing price, sell orders are placed at the grid level and below the existing price, the buy orders are placed at the grid level.
Some of the most important features of the system are:
- Artificial intelligence strategy
AI method is used for identifying the best price range for the bot and the grid width for a particular trading pair. Users need to choose the total investment for the trading.
- Regulated system
The platform has the Money Services Business license from the U.S. FinCEN which shows the platform is well-regulated.
- Customized parameters
The bot allows you to set the parameters for the trading such as the upper limit, lower limit, grid spacing, number of grids, use of BTC or USDT, and the total investment. Additionally, optional parameters like trigger price, SL, and TP are present.
Grid Trading Bot: background
As per the info on the Twitter page of the company, it is located in Singapore and has been in operation since 2019. Team members of Pionex include Dave Yeh, Chris Costello, Grid Botguru, and Josey Wyatt.
How does it work?
The grid bot leverages the market’s ups and downs. You need to set a price range for the bot and the number of grids you want. If the market price remains in the set price range, the bot sells a portion if the price moves up, or buys if the price falls. The bot is ideal for a fluctuated sideways market.
How to sign up with Grid Trading Bot?
Using the bot is done in simple and easy steps as follows:
- Visit the official Pionex site and signup
- Choose the grid trading bot from the trading tools available
- You can choose from the set myself and use AI strategy options for the bot and set the parameters
- It will start trading for you
Does the Grid trading bot offer a demo account?
No demo account is provided for the system.
Profitability of Grid Trading Bot
Due to the nature of the grid strategy, it is easy to generate stable and passive profits with low risk if the market is volatile. Further, the profitability is increased with the bot as it avoids emotional decisions and locks up minor profits regularly during a fluctuating market
Payments, deposits, and withdrawals
While the platform does not charge for the use of the bots, there are transaction fees and withdrawal fees. A maker fee of 0.05% and a taker fee of 0.05% are charged for transactions. The withdrawal fee is based on the coin or token you want to withdraw. For instance, the fee is 0.0005 BTC for BTC withdrawal, and for USDT TRC20 the fee to withdraw your winnings is 1 USDT.
Since the bots are integrated with the platform, there is no need for a separate exchange. However, Pionex partners with Binane, Sumsub, Simplex, Circle, Banxa, and Coinfirm.
What about customer support?
For support, the company provides tutorials, an FAQ, a blog, a live chat feature, and links to its social media pages on Twitter, Facebook, Discord, Line, and Telegram.
Benefits of using Grid Trading Bot
- It is fully automated and works 24/7
- The bot is free to use
- Generates small but regular profits
Drawbacks of using Grid Trading Bot
- Can be used in volatile markets only
The service offers the bots for free to all members. For transactions, the platform charges a 0.05% commission fee. The minimum deposit and withdrawal amount is based on the coin or token you use for trading.
What are security measures?
The platform uses security measures such as firewalls, data encryption, physical access controls to its data centers, and controls for information access authorization.
Is Grid Trading Bot legit?
Pionex is a leading platform in the crypt exchange field. As per the company info, it has users in 100 countries and regions worldwide and has a monthly trading volume of $5 billion and over 100 million daily trades indicating the popularity of the platform.
Ease of use
The user interface is beginner-friendly and has easy-to-navigate features.
Is Grid Trading Bot a good choice for automated trades?
The bot is one of the popular bots from the Pionex platform due to its stable profits and low risk.
What are the risks of using Grid Trading Bot?
Some of the risks associated with the bot are:
- There is no demo account
- It can be used only in a fluctuating market
Review verdict: stable and low-risk bot
Grid Trading Bot provides the opportunity to earn passive profits with its low risk and steady gains. Backed by the Pionex name, the bot works on numerous coin or token pairs producing beneficial results. The lack of emotional decision-making and locking up small profits makes this a profitable tool for newbies and seasoned traders.
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