Pionex is a digital asset trading platform that offers spot, futures, and trading bot options. In addition, it offers demo trading features with an interactive and user-friendly interface. Demo Trading is a form of paper trading that allows users to trade in real and live market conditions. It provides virtual funds that afford users, especially beginners, the chance to trade without having to risk their real money. Also, it affords them the liberty to test trading strategies. Beginners learn how to select trading pairs, use live analytical tools, place an order, and close a position. Pionex is one of the top crypto exchanges that offer this learning opportunity.
For more information about the Pionex, read our full review of the exchange. You can also check out our list of top demo trading platforms.
What is Pionex Demo Trading?
Pionex demo trading is a simulation platform provided by the exchange that allows traders to practice crypto trading. It offers an interactive and easy-to-use interface that facilitates learning. Also, Pionex demo trading allows users to get a feel of the trading process on the platform. Pionex provides a nontransferable demo trading of 100,000 PUSD (paper USDT). The paper USDT can be used to trade the BTC/PUSD and ETH/PUSD pairs.
How to use Pionex Demo Trading
Demo trading on Pionex is easy as a result of the platform’s friendly trading environment. The platform helps to enhance the learning process for beginners and helps experienced traders improve their skills.
Here is a step-by-step guide on how to use demo trading in Pionex:
Step 1: Login/Sign Up
To use the demo trading feature, you have to create an account on Pionex. The registration process is easy and quick. You have to provide your email address, phone number, and login password. Provide the verification code sent to your email address or phone to complete the process.
Step 2: Access the Demo Trading Interface
Log in on the platform with your login details. Click ‘Futures’ in the menu tab. From the drop-down menu, select the demo trading option. You will be directed to the demo trading page.
Step 3: Trading User Interface
On the demo trading page, click the ‘claim PUSD’ right panel. You will be credited with a virtual 100,000 PUSD (paper USDT).
Step 4: Start Demo Trading
The platform allows demo trading of only two pairs, the BTC/PUSD and the ETH/PUSD pairs. You can switch between these pairs on the trading page. On the trading pair section on the top left corner of the page, click ‘demo’, and select a preferred trading pair.
Step 5: Place an Order
After selecting your preferred trading pair, you can place an order from the order panel on the right. Choose your leverage type, adjust leverage to the desired size, and select the order type. Fill in the Price and quantity of crypto you wish to trade. Confirm the order by clicking either the ‘Buy/Long’ or ‘Sell/Short’ icon.
Step 6: Close a Position
You can find an open position at the bottom of the page. To close positions, select the ‘Current Positions’ tab. On the right of any open position, click the ‘close’ icon. On the next pop-up window, fill in the price and portion of the position you want to close and click ‘confirm’
Get More Pionex PUSD
Pionex offers 100,000 paper USDT for demo trading. You can reclaim this virtual money when your balance falls below 10,000 PUSD. To do that, click on the sign in the red box below.
Why Use Pionex Demo Trading?
Demo trading on Pionex offers traders a realistic trading experience. Its colorful and friendly interface makes learning attractive. With an up-to-date chart that reflects price changes, Pionex offers a perfect trading simulation. Pionex offers enough virtual funds for beginners to try trading in real-time market conditions. Unlike some exchanges, you do not have to wait till the next day to reclaim this fund. On Pionex, you can reclaim your virtual fund once it falls below 10,000 PUSD. Also, you can trade on BTC/PUSD or ETH/PUSD pairs.
Bottom Line
Demo Trading is important to newbies in crypto trading. It allows them to get hands-on experience on what trading is all about. Demo trading affords beginners the privilege of making mistakes and allows them to correct such errors.
Pionex Demo Trading affords new users the chance to get the feel of trading on the platform. It helps traders to understand the trading interface before risking their real money.
