Pionex User Guide: Your Reliable Trading Option After Major Exchanges Exit Hong Kong

Bybit withdrew from Hong Kong, OKX voluntarily withdrew its Hong Kong license application, and both Huobi and Gate.io have also exited the Hong Kong market. With these mainstream exchanges pulling out, Hong Kong users face a crucial question: where can they conduct normal spot trading and contract trading?

This guide introduces Pionex, currently one of the most suitable exchanges for Hong Kong users, with several distinct advantages worth noting.

Why Pionex Works for Hong Kong Users

Pionex stands out with three key features that make it accessible to Hong Kong traders:

No IP restrictions - You can access Pionex's website and app directly from Hong Kong without needing any VPN service. This means seamless access without the hassle of connection workarounds.

No KYC restrictions for Hong Kong residents - The platform welcomes Hong Kong users and processes their identity verification smoothly.

Full contract trading support - Hong Kong users can trade contracts freely, including both long and short positions, without limitations.

For traders seeking a platform that combines automated strategies with manual trading flexibility, 👉 explore Pionex's trading bots and competitive fee structure to discover how grid trading and other tools can enhance your trading approach.

Getting Started: Registration and Setup

The registration process is straightforward. You can sign up using either your Hong Kong +852 mobile number or email address. Once registered, you can immediately download the app or proceed to log in via the web interface.

Identity Verification Made Simple

After logging in, head to identity verification by clicking the profile icon in the upper right corner. The platform uses a two-tier KYC system:

KYC Level 1 - This basic verification is remarkably simple. Select your country or region truthfully, enter your real name, check all four agreement boxes, and submit. That's it - you're verified. Level 1 gives you a daily deposit and withdrawal limit of $20,000 USD, with a monthly limit of $100,000 USD, which covers most trading needs.

KYC Level 2 - While Level 1 might suffice, completing Level 2 protects you from potential future complications. If your account ever triggers risk controls due to large transfers or frequent IP changes, the platform may require facial recognition. If you used fake information in Level 1, you won't be able to pass Level 2 verification, creating unnecessary headaches.

The Level 2 process requires identity document upload and facial recognition. You can continue on your current device or switch to mobile. Select your document type - passport, driver's license, ID card, or residence permit - and follow the prompts to upload photos and complete facial recognition.

Understanding Pionex's Account Structure

Pionex uses a simpler account structure than exchanges like Binance or OKX. There are just two main sections:

Main Account - Used for spot trading, participating in savings products, and deposits/withdrawals.

Contract Account - Exclusively for contract trading.

To deposit funds, click "Wallet" in the upper right corner, select "Main Account," then choose "Deposit." Select USDT and your preferred network - TRC20 typically offers low fees. Copy the deposit address and transfer from your wallet.

Essential Security Settings

Before trading, strengthen your account security. Navigate to Account Security via your profile icon. While you can bind your phone number, I strongly recommend setting up Google Authenticator for enhanced protection.

Also consider setting up an anti-phishing code. Once configured, every official email from Pionex will display your unique code, helping you identify legitimate communications and avoid scam emails.

The Google Authenticator setup involves downloading the app, verifying your email, scanning the QR code or manually entering the key, and submitting the verification code. The process takes just a few minutes but significantly improves your account security.

Fee Structure: What You'll Actually Pay

Pionex offers competitive fees compared to major exchanges. Click your profile icon to view the fee schedule:

• Spot trading: 0.05% maker, 0.05% taker

• Contract trading: 0.02% maker, 0.05% taker

The spot trading fees are particularly reasonable, making it cost-effective for frequent traders.

Trading Contracts on Pionex

To trade contracts, you first need to transfer funds from your Main Account to your Contract Account. Go to Wallet > Main Account > Fund Transfer. Select USDT, choose "All," and complete the transfer.

Once funds appear in your Contract Account, access the contracts section. While Pionex is famous for its trading bots - including grid trading bots, signal bots, and full-position contract grid bots - you can also execute standard manual contract trades.

For those interested in automated approaches, 👉 Pionex's diverse bot ecosystem offers strategies ranging from grid trading to signal-based trading, letting algorithms handle the repetitive work while you focus on strategy.

Configuring Your Contract Trades

The contract interface lets you adjust several parameters:

Position mode - Choose between cross margin or isolated margin. For beginners, isolated margin is safer as it limits risk to the specific position.

Leverage - Adjustable, but I recommend keeping it under 5x to manage risk responsibly.

Margin mode - "Single" means single-currency margin, while "Double" refers to unified margin. Newcomers should stick with single-currency margin for simplicity.

Order types - Place market orders for immediate execution or limit orders to specify your entry price. Conditional orders allow you to set take-profit and stop-loss levels.

To open a long position, select "Market," adjust your position size, and click "Buy/Long." Your position will appear in the positions tab, where you can set take-profit and stop-loss parameters directly.

For example, you might set a 20% take-profit and 2-4% stop-loss. The system will automatically place these orders in your pending orders section. You can batch cancel orders anytime or manually close positions through the positions tab.

Customizing Your Interface

Access settings via the gear icon to personalize your experience:

• Change the display currency to USD

• Switch between color schemes - if you prefer green for gains and red for losses, you can adjust this

• Enable the market page for quick access to price movements

Withdrawing Your Funds

When you're ready to withdraw, return to Wallet > Main Account. If your funds are in the Contract Account, transfer them back to the Main Account first using Fund Transfer.

Once in your Main Account, locate your USDT and click "Withdraw." Select your network (TRC20 offers 1 USDT fees), paste your withdrawal address, and submit. The withdrawal will process according to the network's confirmation requirements.

Pionex provides Hong Kong users with a practical solution following the exit of major exchanges from the region. The platform's straightforward interface, reasonable fees, and lack of regional restrictions make it a viable option for both spot and contract traders. Whether you're interested in manual trading or exploring automated bot strategies, the exchange offers the tools needed to continue your trading activities without disruption.