GRID Trading Bot is a crypto robot launched by Pionex. According to the vendor, this robot provides merchants with a stable and passive gain in the volatile crypto market while keeping the risk level low. They have also claimed that the system helps eliminate emotional decisions. In this GRID Trading Bot review, we will analyze the various aspects of this bot to see whether it is reliable or not.
There is very little information available on Pionex, the parent company behind this crypto bot. The vendor has not shared the official address or kind of contact information. We don’t know when the company was founded or how long it has been manufacturing crypto bots. The lack of vendor transparency is a major red flag.
GRID Trading Bot overview
On the official website, the vendor explains in brief how this trading bot works. We have a list of custom parameters along with an example that outlines the Grid trading scheme. The vendor also shares some blog articles, but we cannot get a clear idea about the bot by studying these. They haven’t highlighted any particular feature and it seems this system has nothing special to offer.
This is a robot that trades the peaks and troughs in prices for crypto assets. First, you need to set the price range and adjust the number of grids. Provided the price remains within the range, the system will sell a portion once the price rises and buy when it falls. The vendor claims this technique suits a fluctuated sideways market. However, as we know, the grid trading strategy can be extremely complicated and risky.
GRID Trading Bot remains active 24/7, placing auto-swing trades. There are two modes for this system, namely Set Myself and Use AI Strategy. If you select the AI strategy, the bot will recommend a set of parameters. The system calculates these parameters via backtests performed over the previous 7 days. You will be able to see the profit per grid and price range in the preview. To allocate your funds for trading, you need to move the slider present in the terminal.
If you choose to set the parameters yourself, you need to input the upper and lower limit prices, the number of grids, total investment amount, trigger price, stop loss price, and take profit price.
The idea behind GRID Trading Bot
These days, vendors often share mission statements on the official website. These statements tell customers about the idea behind the trading system and what it hopes to achieve in the future. Most traders look for a company that is not just trying to make money. Unfortunately, there is no statement of that sort for GRID Trading Bot.
It is important for every crypto trader to gather the maximum possible data on a trading system before investing in it. Dealing in crypto is a risky affair and you need to make sure the team consists of experienced individuals who know what they are doing. Since the vendor has not shared the identities of the team members, it creates serious transparency issues.
Safety of GRID Trading Bot and the network
There need to be ample security functionalities in a crypto trading system. Traders need to upload personal data and financial information on the platform, so naturally, they want to make sure it is well-protected. For GRID Trading Bot, the vendor has not elaborated on the safety features. Therefore, we cannot consider it trustworthy.
If you choose to set a stop loss price for the trading bot, it will stop trading and sell the base currency to the quoted currency once the price moves below the specified level.
At this moment, there are no user reviews for this crypto trading platform. Customer reviews tell potential buyers about the first-hand user experience, which is why systems supported by multiple reviews are considered reliable. It is obvious that GRID Trading Bot has zero reputation.
Is GRID Trading Bot a legit investment service?
Our verdictOur verdict
- Trading strategy powered by Artificial Intelligence
- No information on team members
- Lack of security features