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Phemex Exchange Comprehensive Review 2022


With the advent of virtual currency as a significant business domain, several websites have begun to engage in a similar industry. Between these, this Phemex trading exchange stands out as among the most reliable and hassle-free platforms where consumers can transform their cryptocurrency fortune into income.

Phemex was founded when its proprietors saw a lack of professionalism, reliability, and client service in the crypto business.

This is among the industry’s younger digital currency exchanges. Although everything and everyone seems and feels inviting, Phemex still has some work to do.

This Phemex exchange review will clarify how the network operates, whether it is secure to use, and whether the firm running the platform is legitimate. Let’s get started! 

Pros And Cons Of Phemex

  • Spots, contracts, and a plethora of coins, cryptocurrencies, and the US fiat currency.
  • The potential to eliminate spot trading expenses entirely.
  • For contractual trade, leverages of 100 times are offered.
  • The lowest deposit is merely 0.00000001BTC.
  • Demo profiles and free premium version testing are available.
  • A large knowledge source and lesson manuals with cryptocurrency payments are available.
  • An affiliate program with incentive savings is available.
  • Variable and fixed deposit investing packages.
  • The Star Composition software provides users with additional options.
  • Cold preservation of cash and strict data security.
  • Only email is used to communicate with technical assistance.
  • Trading prospects are less favorable without membership accounts.

Phemex At A Glance

Website Homepage
Year Founded 2019
Headquarters Singapore
Number of coins 200+
Number of coin pairings 220+
Native token availability No
Exchange availability Yes
Customer Service Mail, Live Chat, Help Center Support
Mobile app Yes
Leverage  Upto 100 times
Minimum Deposit  Depending on the coin or token
Transaction Fee Taker:0.075%Maker: -0.025%
Withdrawal Fee Depending on the coin or token
Education No
Supported Fiat Money USD, EUR, GBP, AUD, JPY, ARS, and more
Supported Nations Most major nations
Demo Account Yes

Phemex Exchange: Company Overview

Phemex is among the world’s most significant and potent cryptocurrency trading and investment venues. The platform has earned the confidence of the cryptocurrency industry by having almost two million users from all across the world.

Phemex offers its customers a limitless number of trading alternatives in addition to cryptos’ easy selling and acquiring. Furthermore, it employs a user-centered strategy to obtain a deeper understanding of what its customers truly desire. This is one of the primary reasons why the platform effectively meets consumer expectations and supplies them with valuable remedies.

The company has settled its base in Singapore and engages numerous people to give the finest products available to its customers and clients.

Cryptocurrencies Supported In Phemex

Phemex stands out as one of the leading crypto platforms to offer over 200+ supported digital assets. In addition, users signing up for the platform have access to all the major crypto projects currently available in the market. 

Here are a few major cryptocurrencies supported by the Phemex exchange:

XRP Aave AAVE Polygon MATIC Cardano ADA Quant QNT
Bitcoin BTC Shiba Inu SHIB Solana SOL Ethereum ETH Binance USD BUSD
The Graph GRT  Lido Dao LDO Lido staked ether STETH My neighbor Alice ALICE Bancor network BNT
Multichain MULTI Polkadot DOT ChainLink LINK USD Coin USDC Ankr ANKR
Optimism OPT Decentraland MANA REN REN Reserve Rights RSR  Fantom FTM
The Sandbox SAND Uniswap UNI Gitcoin GTC ApeCoin APE Mask Network MASK
Basic Attention Token BAT Maker MKR BNB BNB Yearn Finance YFI NEAR Protocol NEAR
Kyber Network Crystal KNC  Ocean Protocol OCEAN COTI COTI NEXO NEXO Tribe TRIBE
Bitcoin Cash BCH Dogecoin DOGE  Polymath POLY Compound COMP Cosmos Hub ATOM
Litecoin LTC Yield guild games YGG Sushi SUSHI Convex finance CVX Amp AMP

Besides, the platform is also open to the idea of listing new and unique crypto projects in its exchange. This way, Phemex makes it an excellent option for traders and investors investing in new and potentially powerful crypto projects. 


Key Features Of Phemex

Phemex Sub-accounts

The sub-account feature is a unique option limited to users signing up for the Phemex platform. Here, the system provides a one-of-a-kind method for generating sub-accounts inside a pre existing profile, allowing you to hold either short or long holdings.

Every sub-account would have its balance and degree of authority, allowing you to isolate distinct trading techniques. They may also be used with trading algorithms to move money from one sub-account to another. The sub-account option is popular with sophisticated investing groups.

[maxbutton id=”3″ url=”” text=”Start trading with Phemex” ]

Phemex user interface

Phemex, like other cryptocurrency trading websites, has a beautiful UI design. Professional traders with slow internet connections may enjoy the ping meter, which is on the bottom left side of the interface.

The Phemex trading system comprises two main parts: the CrossEngine and even the TradingEngine, which match customer requests depending on cost and time urgency.

In keeping with their user-centered philosophy, they chose a unique system for the graphs and trading systems. Users may select from 5 distinct languages, with plans to add additional international languages when its customer base expands.

Every one of the typical trade instruments is accessible, as is the amount of signals per graph. Users may customize the system to their tastes, and there is also a demo-trading facility for a quick inside look at all of the Phemex possibilities without committing any dollars. Nevertheless, some components, such as time periods on the trade views chart, are not entirely adjustable.

Phemex, likewise FTX, has created its unique Android and apple applications to improve the client interface and provide complete network capabilities on smartphone devices.

Phemex offers leveraged trading up to 100x:

Phemex allows margin trades up to 100x the sum you invest. Margin trade is a technique of trading in which money is acquired from the platform. The purpose of trading using leverage is to maximize profit possibilities. Margin trade enables anyone to operate and earn with far higher asset quantities than you could with your own money.

Another feature of Phemex is that you may practice leveraged trading with fictitious assets upon that Phemex system. Bitcoin, Ethereum, Ripple, LINK, Cardano, and USDT are the cryptocurrency accessible for sample trades.

Earn interest with fixed and flexible accounts:

Phemex offers two methods to earn income on idle Bitcoin or Tether deposited on the marketplace. One is the Flexible Savings option. This enables customers to earn on virtual currencies without making significant long-term obligations. The most appealing feature is the capacity to fund and take cash at any moment while still earning a reasonable rate of return. 

A customer merely has to transfer monies from the Phemex spot wallet into the Flexible Savings bank. The customer will collect the daily return as long as the money appears. The original amount and earnings can be retrieved at any moment.

The second way is Phemex’s Fixed Saving service, which enables consumers to receive greater rates of return on Bitcoin and USDT investments for a particular duration. Before any profits may be claimed, customers must enroll on this plan for a set length of time. 

Flexible Saving has a greater and more steady rate of return. Therefore, early withdrawals from the Fixed Savings account are presently not permitted.

Additional Features Of The Platform

Those mentioned above were some of the critical features of the Phemex platform. However, that’s not all the platform has to offer. When signing up for the platform, you might also want to look at some of its additional features. 

To give you a better idea, we’ve listed some of them in the following section: 

Contractual trading often referred to as futures trading, is the agreement to acquire or resell an item at a specific rate shortly. Premium memberships are terminated after their terms. They cannot be canceled during their validity term.

On a periodic schedule, every one of these assets is gathered and delivered to the firm’s multi-signature cold wallet via offline signatures. Payout requests are handled three times daily on the platform, which may also explain the extremely long payout wait times.

If a group has fewer than ten members before the tournament begins, it will be dissolved, and individuals will be distributed randomly towards other groups that match the standards.

In addition, there is a trading aspect where you may learn ways of trading. Some instructions concentrate on the fundamentals. However, there are comprehensive manuals that cover practically every area of trading.

[maxbutton id=”3″ url=”” text=”Start trading with Phemex” ]

Trading Experience

Phemex, like the majority of the cryptocurrency platforms we reviewed, has a unique subscription concept. Anyone can sign up with the supplier and then select one of three account kinds. 

This particularly appeals to individuals who wish to purchase cryptos for free or exchange them. The three account kinds are distinguished by the regular subscriber, the premium trial consumer, and the premium consumer. 

Although normal customers, like many other sites, pay charges to trade and use the website and application, this would not pertain to premium customers. Furthermore, as a Phemex VIP customer, users may conduct hourly payouts with no payout limit.

The automated subscription renewal feature can be turned off at any time. Phemex subscription packages are available for one month ($9.99), three months ($19.99), or even a year ($69.99). This no-transaction-fee offer doesn’t apply to whatever additional trade or payout costs.

Fees Structure

The program also provides several options for Phemex payout costs. The portal accepts no charges for deposits. Whenever it pertains to Instant Trading, Phemex uses a no-fee strategy. In addition, Phemex uses a Maker and Taker pricing model for everlasting agreements and margin trading.

Token Maker fee Taker fee Leverage 
BTC -0.025% 0.075% Up to 100X
ETH -0.025% 0.075% Up to 20X
XRP -0.025% 0.075% Up to 20X
LINK -0.025% 0.075% Up to 20X
XTZ -0.025% 0.075% Up to 20X
LTC -0.025% 0.075% Up to 20X
GOLD -0.025% 0.075% Up to 100X
ADA -0.025% 0.075% Up to 20X
BCH -0.025% 0.075% Up to 20X

Regarding Phemex trade costs, the company levies a 0.075% taker charge and a -0.025% maker charge. These tariffs are set following business norms.

Phemex imposes a 0.1% charge for every order for Live Trading. Furthermore, there is no charge for Premier and Premier Free users.

How Secure Is Phemex?

The network’s staff has previously established itself within the corporate sector, with over 40 years of collective expertise in producing strong technologies. As they frequently highlight, they are overseen by eight ex-Morgan Stanley officials, which lends credibility to the company.

To protect the payments, the site employs an HD Cold Storage System. All monies are transmitted to a multi-signature cold wallet regularly through offline signing. Phemex does not have its Web Hosting provider and instead relies on AWS, the market pioneer in cloud-based protection and stability. A stack of gates separates commercial domains from the core system. The network is additionally protected by SSL encryption and PCI inspection. 

The network’s restoration mechanism provides customers with 99.99% dependability, which can be game-changing when the Phemex endures the passage of time. But, remember, the network is a newcomer to the industry, and substantial hurdles await, such as inevitable hacking attacks or large bull rallies that might topple any of the industry’s big hitters.

[maxbutton id=”3″ url=”” text=”Start trading with Phemex” ]

Account Opening With Phemex

Making a profile is quite simple; all you need to do is follow the steps mentioned below: 

Step 1: Navigate to the sign-up page first.

Step 2: Insert the email account as well as the password.

Step 3: When you select Continue, users will have a confirmation mail and key.

Step 4: Within the following page that displays, enter the key.

Once done, that’d be all! It’s a relatively straightforward enrollment procedure, and, as with so many marketplaces, completing a KYC is optional.

Customer Satisfaction

Phemex has a Trustpilot rating of 2.7 stars out of 5. In addition, we can report that 43% and 46% of the 100+ reviews, respectively, are rated 5 stars and 1 star, with a very mixed review by the users of the platform

Many users have commented on how they were lured to phemex and were scammed by someone. A few customers even mentioned that they were stuck in the sign-up or the verification process.

Users have also found Phemex to be a good exchange with fantastic customer service. They mentioned that the customer service people seemed very knowledgeable and helped them out in a proper manner.

Phemex Vs. Competition

Considering the several trading options and digital assets that the platform has to provide, Phemex makes an exception to the list of crypto-offering platforms. Besides, the wide range of accessible services with the competitive fee structure make Phemex all the more suitable for both new and advanced users. 

However, the platform isn’t only about exceptional features and reliable functionalities! Users signing up for Phemex have also complained about the low amount of liquidity that it has to offer. Therefore, if Phemex doesn’t look like a legit option to you, let’s look at its performance compared to one of its primary competitors, Kraken. 

Phemex vs. Kraken

Regarding active users and exceptional features, both Phemex and Kraken are reliable options to start your crypto journey with. Besides, both the platforms have also earned their names around stringent security measures and the versatility of trading options. 

But some features set them apart, and here’s a detailed comparison of the two platforms.

Phemex Vs. Kraken:

Looking at this short but insightful review, it’s evident that Phemex has dominated the likes of Kraken in all aspects. So whether you’re a user looking for a pocket-friendly trading platform or an explorer looking for new ways to invest in crypto tokens, the platform has you covered!  Read the full Kraken review.

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Final Verdict

Should You Consider Using Phemex?

Users can make payments using payment cards. In addition, a money transfer alternative is accessible for approved nations, allowing customers to move cash straight to make cryptocurrency buys. Because Phemex accepts numerous fiat money, consumers may generally pay in their currency and avoid the high conversion fees.

Anyone may invest and gain significantly more money with a margin than the original capital. Just keep in consideration that margin trade is risky. Margin trade may make you a lot of money, but it can also make you a lot.

Phemex has accomplished an excellent job of creating their smartphone applications, so there isn’t much of a distinction between using the application and using Phemex’s site. As a result, users have access to nearly all the tools you need to trade effectively and can even acquire digital products directly from the application. In addition, Phemex smartphone applications are now accessible for installation for Android and iOS smartphones.

Phemex has all of these elements, which is an unusual occurrence. Their comprehensive and realistic charts are obtained through TradingView, among the world’s largest and most reputable chart providers. The graphs are simply customizable to meet your specific requirements. To improve the trades, you may utilize signals, evaluate products, sketch arcs, choose alternative timeframes, and more.

The best part is that you may buy and trade with no additional authentication. Nevertheless, users may need to thoroughly authenticate their identity when they wish to eliminate some limits or retrieve the assets quickly. Users must first submit the ID and afterward perform a face confirmation.

Shortcomings Of Phemex

Although it is accessible in so many large nations such as the United States, the United Kingdom, and China, this is not offered in so many Eurasian countries.

This brings us to the end of our comprehensive review of the Phemex trading platform. Upon reviewing the platform, it won’t be wrong to say that it comes with some exceptional features, providing a wealth of perks to users of all shapes and sizes. In addition, the platform is open to welcoming new users and has kept a simple, easy-to-use interface, allowing beginner investors and traders to trade among the numerous crypto projects listed on the exchange. 

Yet, the platform also lacks in some places! It is primarily because it is not available for residents in the US. Therefore, if you’re a US-based user and want to explore the other platform options, don’t forget to consider the following factors in our review. All the best! 


No, ever since its inception, there have been no successful hack attempts on the Phemex exchange, and it adds to the platform's credibility and security aspect. Besides, the platform keeps working on improving its security systems and preventing breaches or hacks at any costs.
As per the website, the platform generally takes around one to two hours to highlight withdrawals. However, the withdrawal time might differ depending on numerous factors (location, network, or bank access, among others).
At the time of writing, Phemex has not yet been qualified as a regulated exchange. However, that doesn’t stop users from exploring the platform, as the platform has set its credibility via the different stringent security measures.
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