Table of Contents
Phemex is a cryptocurrency futures exchange that offers trading in a variety of digital assets including Bitcoin, Ethereum, Ripple, Litecoin, and more. The platform is designed for both professional and retail traders. Phemex provides a user-friendly interface, low fees, and fast execution speeds.
Phemex 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.
Is Phemex Legit?
Phemex is legit, safe and regulated, and has been featured in some of the leading media outlets including Forbes, The Street and more. The platform is also backed by some of the leading investors in the space including Galaxy Digital and BitMEX.
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.
Phemex Crypto Futures Trading
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.
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 has an intuitive staking solution that enables their customers to earn up to 10% 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 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.