Grid Trading Bot is a fully automatic 24/7 cryptocurrency trading algorithm. The platform allows users to select one of the two EAs, “Use AI strategy” and “Set myself.” It uses an averaging strategy to profit from the market fluctuations and implements a swing trading approach. We will investigate the working, features, pricing, and profitability of this algorithm in this Grid Trading Bot review.
How does Grid trading crypto bot function?
Grid Trading Bot generates profits from the ups and downs of the market. The trader sets the parameters, and the algorithm will automatically sell a portion when the price goes up and vice versa within a specified range. As obvious from its name, it uses an averaging strategy, and investors can select either AI or manual approach to trade in the market.
Grid Trading Bot review: positive aspects
The platform has the following pros:
- It is a built-in bot, which does not require coding skills.
- The AI strategy is best suited for beginners.
Grid Trading Bot review: negative aspects
While the negative aspects are:
- The customer support and FAQ section on the platform are not up to the mark.
- 20% of the user reviews on TrustPilot are negative.
- The system can only be used on the Pionex exchange.
Time in business
The platform has provided services for 1017 days, almost three years. It claims to have users from 100 regions performing 100 million+ daily trades.
Grid Trading Bot is a legit and reputable platform. It is managed by the BitUniverse team and claims to be in partnership with Binance, Circle, etc.
Grid Trading Bot is not an independent algorithm that can be linked to any cryptocurrency exchange. It is a built-in bot and can only be used on Pionex.
UI of Grid Trading Bot
Grid Trading Bot can be accessed from a desktop and mobile app. The UI is beginner-friendly, and the dashboard provides all the tools to understand its functions.
Features of Grid Trading Bot
The key features of the Grid Trading Bot can be listed as follows:
- It is a built-in bot that is easy to understand by beginners.
- The bot is fully automatic and trades 24/7.
- The “set myself” strategy lets the investor customize their bots. The trader selects an upper, lower limit price, total investment, and the number of grids.
How to get started on Grid Trading Bot
Traders can start with the platform in the following steps:
- Create an account on the Pionex exchange
- Select Grid Trading Bot on the right side of the page from the available options
- Click the “Create” button
- The system will suggest the parameters based on the 7-day backtesting results with the AI strategy
- Custom settings can be selected by using the Manual strategy
How secure is Grid Trading Bot?
Grid Trading Bot is a secure platform, Pionex exchange requires an identity verification system to access the portfolio. It also has a two-factor authentication system which makes the investments safe.
Customer services are provided via live chat, email, and announcements. Users can also reach the telegram and social media communities for help.
Are traders happy with Grid Trading Bot?
Customer reviews are available on the TrustPilot website, where we can analyze the user experience with the Pionex Grid Trading Bot. One of the customers wrote that the bots are misleading and the platform is a scam.
Pricing and fees
The product is completely free to install on a desktop or a mobile phone. There are no monthly or annual subscription plans. The exchange charges 0.05% trading fees for the maker and taker.
Is a free trial available?
A free trial is not available. Without backtesting the systems beforehand, we cannot predict or know if it can be profitable for us.
The Pionex platform supports several languages, including English, Arabic, Turkish, Portuguese, French, Spanish, Deutsch, etc.
What kinds of traders is the Grid Trading Bot best suited for?
Grid Trading Bot is best suited for new traders in the crypto market. Anyone can use the algorithm without knowing programming languages. AI strategy recommends the parameters for the algorithm.
The company was founded in 2019, with its headquarters based in Singapore. The address can be accessed from the LinkedIn profile. Team members are between 11and 50.
Grid Trading Bot Verdict: should you get it a try?
Grid Trading Bot is only profitable when the market is ranging. The averaging strategy can be risky when cryptocurrencies are very volatile. The customer reviews show that most of the traders are not satisfied with the platform.