Margin GRID Bot is one of the integrated trading bots of Pionex. It is focused on traders who want an auto crypto bot with additional features. Pionex has the FinCEN MSB(Money Services Business) license and is backed financially by ZhenFund, Shunwei Capital, and Gaorong Capital. The company is a prominent Binance broker and Huobi market maker. There are 16 such free bots provided by the vendor. Other bots of the vendor include grid trading bot, arbitrage bot, and more. We could not find further details about the company, its founding year, location address, phone number, etc. The lack of info makes us suspect it is not a reliable firm.
Margin GRID Bot overview
As per the vendor info, this bot is a blend of the conventional grid approach and the lending market. With this combined feature you can lock your funds and use them as collateral. Additionally, you can long or short the market. For instance, if you have USDT and wish to short Ethereum, you can receive Ether by using USDT as collateral. By betting on a falling price, you profit when Ether price drops and receive USDT.
If you wish to long Ethereum and own Ether, you can use it as collateral and receive USDT. Here you stake on the increasing Ether and profit when it does. As per the vendor, the leverage works uniquely with this bot.
For a 2x leverage, the bot doubles the investment by lending the funds at a specific interest rate. This helps you gain more in a bullish market but on the downside, you stand to lose if there is a downtrend. But the bot will stop when your capital is liquidated. The vendor provides examples of how to use the system.
We could not find many details on the bot like its settings, recommendations, etc. A few parameters are present on the official site that include the upper and lower limits, grids, leverage, daily interest, and more. While the use of the bot is free, the company charges for the transactions and withdrawals.
The idea behind Margin GRID Bot
According to the vendor info, this grid bot has been created for professional traders who want to capitalize on the trending market without losing their long-term holding. It is also ideal for users trying to long or short the market. The vendor does not provide much info on the product. The lack of info makes us suspect the reliability of the bot.
There is no info concerning the vendor such as the developer team, their experience, and their expertise. The lack of info raises a red flag for this company.
Safety of Margin GRID Bot and the network
The company does not provide details on the security measures used for safeguarding user privacy and their transactions. Safety is an important concern of users of a platform and this is more so in the case of a crypto-based network. The absence of info makes us suspect this is not a reliable vendor.
For support, the vendor offers a Telegram group link and an email address under the contact us section. The info has been updated two years back which shows the lack of reliability of the company.
We found 110 reviews for this company on the Trustpilot site with a rating of 3.4/5. Here are some of the reviews of the company.
From the reviews, it is clear that the customer service is bad. Further, the testimonials indicate that the users are unable to withdraw their funds and claim the company is a total scam. The feedback corroborates our analysis that the company is not reliable.
Is Margin GRID Bot a legit investment service?
From our evaluation of the features, functionality, security, and other aspects of this bot, we find this is not a legitimate service.
Our verdictOur verdict
- Fully automated system
- Free bot
- No verified track record
- Lack of vendor transparency
- Lack of security measures