Pros
- Promotions, gveaways
- Contracts and Spot
- Membership system
- Free USDT TRC-20 withdrawals
- phone app
Cons
- high BTC withdrawal fee
- no small cap alts
- only 3 withdrawals per day
Verified
Phemex Review
23
·
Followers 3
·
Average
Rating
3.9
Crypto Exchanges
Description of Phemex
What Is Phemex?
Phemex is a crypto derivatives trading exchange. Based in Singapore, it was launched in 2019 by former executives from Morgan Stanley. The project is rapidly gaining popularity due to low fees and deep liquidity, offering user-friendly charting and wallet interface, no-KYC, tight/fast execution spreads, as well as spot, contract, and margin trading.
The centralized cryptocurrency exchange (or CEX) serves all types of clients, ranging from crypto newbies to professional investors. Phemex offers financial advice to improve the trading experience, an educational portal with guides and charts, a quick registration process, a convenient mobile app, referral programs, and ways to generate passive income.
The platform provides an instant purchase of digital assets. According to the project’s website, it can handle 300,000 transactions per second, while the order response time is less than 1 millisecond.
Who Are the Phemex Founders?
The CEO and founder of Phemex is Jack Tao, former Software Engineer and VP of Morgan Stanley. Tao graduated from Fudan University, Shanghai, gained experience in traditional finance, and specialized in the development of algorithmic trading platforms for over 10 years.
When Did Phemex Launch?
The project was founded in November 2019 and is owned by Phemex Financial Pte. Ltd.
Where Is Phemex Located?
Phemex is located in Singapore. The company is offshore and registered in the British Virgin Islands.
Phemex Restricted Countries
The platform has over 5 million active users in 200+ countries. According to the terms of use, its services are not available in the United States, United Kingdom, Quebec and Alberta (Canada), Cuba, Crimea, Sevastopol, Iran, Syria, North Korea, South Korea, Sudan, China, Hong Kong, Republic of Seychelles and Bermuda.
What Coins Are Supported on Phemex?
Phemex supports over 250 assets, 137+ contract trading pairs, and 238+ spot trading pairs. Here are a few of the cryptos that users can buy/sell/trade on the exchange: BTC, ETH, USDT, DOGE, XRP, LINK, ADA, ALGO, ATOM, MANA, SHIB, APE, FTM, COMP, ZEC, MATIC, LTC, AAVE, SAND and DOT.
How Much Are Phemex Fees?
Phemex is a full-service platform that stands out from the rest due to its fee model. The exchange charges a 0.1% spot fee (0.1% of the transaction value for market makers and takers with discounts available to high-volume traders). The contract trading fee is based on a Maker-Taker model, where Phemex charges 0.06% for Market Takers and 0.01% for Market Makers. The platform does not charge any fees for crypto deposits to trading accounts. For more details, refer to the Fee Structure.
Is It Possible To Use Leverage or Margin Trading on Phemex?
Users can trade with up to 100x leverage. Phemex offers leverage trading of perpetual contracts like ETHUSD, BTCUSD, LTCUSD, LINKUSD, XRPUSD, XTZUSD.
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Pros
- Withdrawal Fee
- Wire transfer
Cons
- exchange's trading volume
Pros
- Help from the multilingual Phemex to all day long, for the most part by turning into the norm for the administration of the media.
- Stage 2 can be supplanted by multiple hundred, 000.
- Modernized sources are put away in chilly pockets.
- Zero cost for spot exchanging.
Cons
- It is never utilized as a change, and there are not many references to this general public.
- It works best with crypto, yet stores and installment options are restricted. There are no choices to get a Fiat.
Pros
- Low commissions and in case of being registered as a Premium client, it has zero commissions for operations.
- Leverage plan that offers you up to 100X.
- Good Bonus plans to stimulate investment.
- You can invest in Dollars and Gold
Cons
- None for now
Pros
- Although the stock market is little known, it has high trading volume and high liquidity
- They use cold wallet storage
- Interface runs very fast and stably
- You can profit from your investments with the welcome bonus
Cons
- Crypto currency diversity is low
Pros
- Easy to Use, Fast, Creative Content
Cons
- Lower liquidity on some coins
Pros
- Absolutely none, they'll steal your money and never refund it.
Cons
- They stole hundreds of dollars from me and won't refund it!
Pros
- Help from multilingual Phemex to becoming a standard media organization all day. Trading, Cryptos is a lucrative and convenient phase to buy and sell
Cons
- Cryptographic monetary diversity is low
Pros
- It has a trade engine capable of handling thousands of transaction each second
- It has a great liquidity
- It provides several language translation
- Support margin trade
Cons
- None
Pros
- Developed by former Morgan Stanley executives
- Focused on derivative products.
- Competitive trading fees
- Ability to trade gold
- A very convenient system for placing conditional orders (various kinds of stop orders with different trigger conditions)
- You can trade on the spot market without commissions, only by subscription.
- No break-in records yet
- No KYC for small withdrawals
Cons
- Relatively new, launched only a year ago.
- Regional restrictions without providing alternatives for users from those jurisdictions.
Pros
- It is easy to use.
- I believe it is a reliable exchange.
- It rewards for specific announced activities done.
- It has much Liquidity.
Cons
- None.
Pros
- The exchange is a secured and conducive platform to buy and sell Cryptos
Cons
- Crypto currency diversity is low
Pros
- works with the good support of its customers.
Cons
- There are downsides.
Pros
- every minute of every day multi-lingual Help, with admittance to Phemex President via web-based media.
- It can handle in excess of 200 thousand exchanges each second.
- Computerized resources are kept in cool wallet stockpiling.
- Zero expense for spot exchange.
Cons
- Necessities to work more on its online media presence for more noteworthy openness.
Pros
- Security is high, it has not been hacked
- Support various methods for deposit which includes credit card
- Known your member is not a requirement
- Easy registration
- Live customer service support for twenty four hours
- Social medial platform to updating the user about the development and update, it also serve the means of interacting between traders in the community.
- Transaction is fast
- Multi cryptocurrency exchange
- Multi language platform
Cons
- Not well known
Pros
- 24/7 multi-lingual Support, with access to Phemex CEO on social media.
- It can process more than 200 thousand transactions per second.
- Digital assets are kept in cold wallet storage.
- Zero fee for spot transaction.
Cons
- Needs to work more on its social media presence for greater exposure.
Pros
- high liquidity and trading volume
- The exchange is a secured and conducive platform to buy and sell Cryptos
- The fees are very low and affordable in fact it is far below the industry's average
- You get paid whenever you are in the position of a maker
Cons
- I haven't seen any thing bad about the exchange, and if there is any that would have been its low number of altcoin which is already increasing weekly
Pros
- It is well-known because it has low fees and sometimes it provides zero commissions, but it depends on the range of expertise the trader has.
- It works with quick steps. It has some configured accesses that permit users to switch between windows rapidly.
- It works with good customer support, and it operates without failures.
Cons
- It has not KYC feature available. Sometimes, it is difficult to track if this service provides really good security and privacy for their users and the investors they work with.
- It is little used as an exchange, and there are low references for this network.
- It works just with crypto, but deposits and payment options are limited. It has not available features to accept fiat.
Pros
- A relatively low trading fee
- It doesn't involve KYC verification
- Transaction is smooth and quick
- Uses two step verification
Cons
- It is an etherum based wallet
Pros
- Every positive experience I had had been explained in my review above
Cons
- publicity is a major setback in this exchange
