Pionex Review: Is This Crypto Trading Bot Platform a Scam or Safe?
Overview of Pionex
In this Pionex review, we take a good look at the crypto trading platform that launched in 2019. Pionex is noted for having built-in trading bots and replacing liquidity from Binance and Huobi. Pionex gained popularity because of its low trading fees and its automated tools. However, recent news reports and outrage from users of Pionex have questioned its reliability and security of funds.
Pionex Broker Overview
- Website:https://www.pionex.com/en/
- Website Availability: YES
- Address: NA
- Warning Notices: Autorité des marchés financiers(France)
- Domain Blacklisted Status: It seems there is no direct mention of this domain being on a blacklist.
Regulation & Safety Issues
Pionex has no oversight from any major financial regulator, which is a trust-destroying problem.
Regulation is important because it assists with safeguarding your money from misbehavior, and with ensuring a broker is complying with relevant industry rules. A popular platform can be considered hazardous to your finances without regulation.
User Experiences & Scam Reports
Pionex used to have a lot of praise from users when it first came out, however, more recent third-party review platforms have identified it as a scam. One user reportedly lost over $22,000 coming only to recover a small amount with a fund recovery service. Other complaints have regarded hidden withdrawal fees and unresponsive customer support. The trend seems to be: deposit with no issues, delay in withdrawing funds or blocked from withdrawing, then suddenly some extra payment is required of the user before releasing the funds.
Final Verdict
This Pionex review raises some alarm bells. All features aside, and regardless of its presence in the market, the absence of tier-1 regulation and an increasing amount of negative experiences from users indicate a high level of risk. If you are planning to use Pionex, we suggest, at minimum, verifying if it’s legit, and looking at alternatives that are more transparent and regulated before you lose your money.
Take Action Today
Don’t wait if you’ve been scammed. To discuss your options and begin your recovery process, contact us for a free consultation. Your financial security is important, and being proactive can help protect it.
At Lycan Retrieve, we work to restore your losses and deliver results. Contact us now to regain management of your finances.
Visit Lycan Retrieve Facebook Page
Visit Twitter