TWAP Bot is a crypto bot that uses an advanced transaction method. It is one of the various bots that Pionex provides for its users. This bot uses the TWAP (Time-weighted Average Price) approach. This method helps in a better process of trading than the conventional method of execution of multiple single orders. Furthermore, it helps to reduce transaction costs when dealing with products of high volume.
Pionex is backed by Gaorong Capital, Shunwei Capital, and ZhenFund with an amount of over $10,000,000. As a leading Binance broker, the company is a reputed Huobi market maker. It has FinCEN’s MSB license. We could not find info related to the company including its location address, phone number, etc. For support an email address and a Telegram link are present.
TWAP Bot overview
We could not find much info on the bot as the vendor does not divulge details concerning the features and functionality of the system. From the info present, the vendor provides a few tips on using the trading bot. The steps include:
- Visit the Pionex site and choose the bot from the trading tools list present.
- After choosing the bot, you need to enter two parameters namely the order period and the quote for buying or selling each time.
- Duration of 10 seconds, 30 seconds, one minute, and 5 minutes are present for the period setting.
The vendor provides examples of how to use the bot while buying or selling. For buying the ETH/USDT pair, the bot is set to a period of 10 seconds and the amount for purchase is set to 100 USDT every time. A total of 1000 USDT is set as the investment. Once the settings are done, the bot will purchase 100 USDT 10 times per 10 seconds. For selling, a similar setting is present except here you set the bot for selling.
The idea behind TWAP Bot
The main purpose of using this bot is its strategy can help in executing big orders in a short period without influencing the market price. When compared to the volume-weighted strategy (VWAP), this time-weighted approach provides a better execution price and higher returns. For high-frequency trading and in the case of illiquid assets the TWAP method is more favored. As one of the 16 automated trading arsenals of Pionex, this bot intends to provide better transaction value and lower fees with its unique approach.
We could not find info on the team members, their trading experience, and other details. The lack of info raises a red flag for this company. While an online contact form and social media links are present for customer support, we find them inadequate. With such support methods, it is difficult to get an immediate response to the queries and concerns of users.
Safety of TWAP Bot and the network
Other than mentioning that the site is functioning safely for 867 days, we could not find info on the security measures the company uses for safe transactions. The absence of details on the security provided raises another red flag for this bot.
Pricing packages are not present on the official site. However, the company charges a transaction fee of 0.05% each for the maker and taker. Withdrawal fees are charged which differs for the coin or token withdrawn. The site has a higher and lower limit for withdrawal.
We found 110 reviews for the company on the Trustpilot site. Here are a few of the reviews:
From the feedback, we find that the support is bad as the service does not respond to queries or requests from users. Users complain that this is a scam service not allowing users to withdraw.
Is TWAP Bot a legit investment service?
Our verdictOur verdict
- Automated system
- Enables execution of trades without influencing market price
- Lack of vendor transparency
- No verified track record
- Poor support