Phemex Review

Phemex Review

Adrian Graham
Fact Checked
Jan 8, 2023

Bottom Line: Phemex is a new and rapidly growing cryptocurrency exchange that offers a user-friendly and no-KYC platform to trade over 250 assets through Spot and Futures trading markets. Their platform is widely regarded for having low fees and deep liquidity across all of their markets.

If you are looking to get started quickly, Phemex are offering up to $180 in Crypto Bonuses for signing up with this link.

Table of Contents

Phemex Platform Review

Platform Highlights

  • Trade over 251 cryptos with 25x leverage.
  • Lowest trading fees starting at 0.075% for Taker orders.
  • Crypto Staking, Futures Trading iOS/Mobile App & more features.
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Audited Proof of Reserves

What is Phemex?

Phemex is a cryptocurrency futures exchange that offers trading in a variety of digital assets including Bitcoin, Ethereum, Solana, Avalanche, Shiba Inu and 250 others. The platform is designed for both professional and retail traders and provides a user-friendly interface, low fees, tight spreads and fast execution speeds.

The Phemex platform was founded in 2019 by former Morgan Stanley executives. cryptocurrency futures exchange that allows users to trade a variety of digital assets including Bitcoin, Ethereum, Ripple and more. The platform offers a wide range of features including spot and margin trading, as well as advanced tools for experienced traders. Phemex also has very low fees and is available in over 180 countries.

Available Cryptocurrencies 200+ Available on Spot and Futures
Trading Fees -0.025% Maker or 0.075% Taker
Daily Deposit Limits $100,000 USD daily
Deposit Methods Crypto Deposit, Bank Wire or Transfer and Debit Card/Credit Card
iOS/Mobile Support Image
Cryptocurrency Staking Image
User Interface and Experience Image
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Website Visit Phemex

Is Phemex Safe?

Yes, Phemex is a regulated cryptocurrency exchange. It is registered with both the US Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). This means that Phemex is subject to strict financial regulations and must adhere to best practices in terms of anti-money laundering (AML) and countering-the-financing-of-terrorism (CFT).

This makes Phemex a safe and secure platform for buying, selling, and trading digital assets. The platform is also backed by some of the leading investors in the space including Galaxy Digital and BitMEX.

Phemex Review
Phemex Exchange: Trade Crypto with Deep Liquidity and Low Fees.

Phemex Trading Fees

Phemex is the cheapest exchange in the world because they offer a 0.025% rebate on market maker orders. This means, if you set a limit order on Phemex - they will pay you a 0.025% rebate if the order gets matched on the other side.

For standard market orders, the taker fees on Phemex are 0.075% per trade.

Phemex KYC Verification

As at time of writing, KYC verification is not required to trade on the Phemex platform. This means that you can sign up and trade cryptocurrencies without having to submit identity verification information. This is one of the only derivatives exchanges that still offers this.

If you are a large trader looking to deposit and withdraw over $100,000USD - you will be required to complete the Phemex Premium membership verification to be able to transfer large amounts to and from your bank account.

Futures and Derivatives Trading on Phemex

Phemex also has one of the best crypto futures trading platforms in the world thanks to their low fees, low latency exchange and great user experience. Their futures trading platform offers up to 20x leverage on trades with USD or coin margined contracts.

Trading ETH/USD derivatives on Phemex Futures.

Is Phemex Regulated?

According to resource available online, Phemex is a cryptocurrency exchange that is registered in the Seychelles. It is not clear whether Phemex is regulated or licensed by any financial authorities. It is always important to carefully research an exchange before using it to buy or sell cryptocurrencies. It is generally recommended to use exchanges that are regulated or licensed by financial authorities, as this can provide an additional level of security and protection for users.

Available Cryptocurrencies on Phemex

Phemex offers most of the top cryptocurrencies that are available on major exchanges like Binance or FTX. They have currently over 200 different digital assets and are quick to list new popular coins like ApeCoin (APE) or Decentraland (MANA).

Phemex Earn

Phemex has an intuitive staking solution that enables their customers to earn up to 18% passive income on stable coins like USDC or USDT (Tether). You can also stake proof-of-stake network tokens like Ethereum, Avalanche or Solana to earn up to another 15% APY.

Phemex Earn
Earn up to 18.80% interest on USDC with Phemex Earn.

Phemex Final Verdict

Phemex is one of the top cryptocurrency exchanges in the world thanks to their low fees, advanced features and great user experience. The platform is also safe and regulated, and has been featured in some of the leading media outlets including Forbes, The Street and more. If you're looking for a great place to trade cryptocurrencies, then we highly recommend Phemex.

For a comparison of Phemex with another platform, check out our Phemex vs Bybit guide.

Adrian Graham

Co-Founder & former banker turned Full-Time DeFi analyst and researcher. Left traditional finance to pursue my interest in digital assets and decentralized finance.

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