GRID Trading Bot is one of several built-in robots present on the Pionex platform. It profits from the cryptocurrency market’s volatility by following a popular strategy of buying low and vice versa. Traders can start with the system by simply configuring its parameters like price range and grids. This review will talk about the functioning, characteristics, benefits, flaws, fees, commission, and much more about the product.
About GRID Trading Bot
GRID Trading Bots trade cryptocurrencies 24/7 based on its settings and parameters set by the trader. It is available for free within the Pionex exchange with unique take-profit, stop-loss, and trigger price features.
| Payment Options: | Credit Card |
| Price: | Free; 0.05% fees |
| Supported Exchanges: | Pionex |
GRID Trading Bot features
The key characteristics of the GRID Trading Bot are as follows:
- It does not require any coding skills.
- The algorithm can be configured easily according to traders’ needs.
- AI strategy automatically trades and improves itself for different market conditions.
- The bot can be set up for short-term and long-term trading.
How does it work?
GRID Trading Bots use an averaging strategy for both short and long-term trading. It offers users two settings: “Use AI method” and “set myself.”
- Recommended settings
It adheres to the Pionex AI adviser’s recommended setting, based on 7-day backtesting results.
- Manually configure
It is a manual strategy that requires traders to input the bot’s settings based on their demands.
Compatible exchanges
The GRID Trading Bot is a built-in algorithm that runs on the Pionex exchange.
How does the GRID Trading Bot stand out?
GRID Trading Bot is unique from other similar algorithms because it enables users to produce both short and long-term profits by adjusting the pip step. It is completely free with several features like providing liquidity and DCA. The platform states that they offer five different versions of the algorithm.
Best for: volatile market
GRID Trading Bot is based on the most fundamental concept of trading (buy low, sell high). It can be employed on nearly any market and earn profits, independent of trend or market behavior. The more frequent and significant the price movements, the more profitable the strategy.
Pricing
The bots are completely free to use on the Pionex exchange. There are several algorithms available on the platform for traders to use. They charge a maker/taker fee of 0.05% on trades.
How safe is the GRID Trading Bot?
GRID Trading Bot provides security with two-factor authentication and identity verification system to provide safety of accounts.
GRID Trading Bot reputation
Pionex is a legit platform and has a license issued by U.S. FinCEN’s MSB (Money Services Business). The company was founded in 2019 from its headquarters in Singapore, and the BitUniverse team manages it. Larry Toh is the Chief compliance officer.
Is it a good choice for beginners?
GRID Trading Bot is best for investors with no coding skills. They can benefit from the bot’s features without making any purchases. The platform has built-in robots with preset settings that can be easily employed to start trading.
