Phemex is a crypto exchange offering diverse trading options, including futures. It supports a wide range of cryptocurrencies like BTC, ETH, DOGE, and TRX.
With tiered account levels (Standard to VIP Star and Pro tiers), users benefit from trade amount starting from 0. However, it has restrictions for users in regions like the USA, Iran, and Russia.
Company Information + Regulation Status
PHEMEX is a Singapore-based cryptocurrency exchange that has made significant strides in regulatory compliance. PHEMEX regulatory status:
- Licensed as a Money Services Business (MSB) by FINTRAC in Canada;
- Registered with FinCEN in the United States;
- Compliant with AML/KYC regulations in multiple jurisdictions;
- Implements strict security measures to protect user funds and data.
While PHEMEX has tried to operate within regulatory frameworks, it's important to note that the cryptocurrency industry is still evolving, and regulations can vary by region or state.
Summary of Specifics
Here is a summary table of the offerings we prepared for you:
Exchange | PHEMEX |
Launch Date | 2019 |
Levels | Standard, VIP 1 to VIP 5, VIP Star, Pro1 to Pro3 |
Trading Fees | From 0 |
Restricted Countries | USA, Iran, UK, Russia, Sudan, North Korea and more |
Supported Coins | BTC, ETH, DOGE, HMSTR, TON, TRX and more |
Futures Trading | YES |
Minimum Deposit | 0.00000001 BTC |
Deposit Methods | Fiat, Credit/Debit Card, Bank Wire, Crypto |
Withdrawal Methods | Crypto |
Maximum Leverage | 100x |
Minimum Trade Amount | From 0 |
Security Factors | 2FA, Cold Wallets, SSL, AWS cloud |
Services | Copy Trading, Futures, Spot, margin Trading, Staking |
Customer Support Ways | Live chat, Help Center |
Customer Support Hours | 24/7 |
Fiat Deposit | YES |
Affiliate Program | YES |
Orders Execution | N/A |
Native Token | PT token |
User Levels and Features
PHEMEX offers a tiered membership system with varying benefits. Here is the informative table for Contract Trading:
Level | Trading Volume (30-day) | Maker/Taker Fees |
Standard | 0.0000,8.00M | 0.0100%/0.0600% |
VIP1 | 8.00M,18.00M & API ≤ 20% | 0.0080%/0.0550% |
VIP2 | 18.00M,45.00M & API ≤ 20% | 0.0060%/0.0500% |
VIP3 | 45.00M,85.00M & API ≤ 20% | 0.0040%/0.0450% |
VIP4 | 85.00M,180.00M & API ≤ 20% | 0.0020%/0.0375% |
VIP5 | 180.00M,380.00M & API ≤ 20% | 0.0010%/0.0350% |
Star VIP | 380.00M,~∞ & API ≤ 20% | 0.0000%/0.0300% |
Pro1 | 8.00M,100.00M & API > 20% | 0.0000%/0.0475% |
Pro2 | 100.00M,380.00M & API > 20% | 0.0000%/0.0450% |
Pro3 | 380.00M,1.50B & API > 20% & 70%Maker | 0.0000%/0.0350% |
Pro4 | 1.50B,~∞ & API > 20% & 70%Maker | 0.0000%/0.0325% |
Fees and Commissions
PHEMEX offers competitive fees, starting from 0.0000%/0.0325% for maker/taker trades (Contract Trading), as we discussed in the User Levels section. PHEMEX Spot Trading Fees:
User Level | Last 30d Spot Trading Volume (USD) | Maker/Taker Fee |
Standard | 0.0000 - 800.00K | 0.1000% / 0.1000% |
VIP1 | 800.00K - 1.80M & API ≤ 20% | 0.0900% / 0.1000% |
VIP2 | 1.80M - 2.50M & API ≤ 20% | 0.0500% / 0.0700% |
VIP3 | 2.50M - 4.50M & API ≤ 20% | 0.0450% / 0.0650% |
VIP4 | 4.50M - 8.00M & API ≤ 20% | 0.0400% / 0.0600% |
VIP5 | 8.00M - 15.00M & API ≤ 20% | 0.0350% / 0.0550% |
Star VIP | 15.00M - ∞ & API ≤ 20% | 0.0000% / 0.0400% |
Pro1 | 800.00K - 15.00M & API > 20% | 0.0600% / 0.0800% |
Pro2 | 15.00M - 30.00M & API > 20% | 0.0400% / 0.0600% |
Pro3 | 30.00M - 100.00M & API > 20% & 70% Maker | 0.0300% / 0.0500% |
Pro4 | 100.00M - ∞ & API > 20% & 70% Maker | 0.0000% / 0.0450% |
Coins and Assets Offered by PHEMEX
PHEMEX provides traders a wide range of cryptocurrencies for trading. PHEMEX tradable assets:
- Major coins: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP);
- Altcoins: Cardano (ADA), Polkadot (DOT), Chainlink (LINK);
- Meme coins: Dogecoin (DOGE), Shiba Inu (SHIB);
- Stablecoins: Tether (USDT), USD Coin (USDC);
- Occasional airdrops (e.g., HMSTR token).
The exchange regularly adds new coins and trading pairs based on market demand and thorough vetting processes.
Futures and Margin Trading
PHEMEX provides robust futures and margin trading options:
- Futures trading to benefit from both market sides;
- Margin trading up to 100x;
- COIN-M & USDT-M Perpetual contracts available;
- Cross and isolated margin modes;
- Advanced order types (limit, market, stop-loss, take-profit, Scaled, Conditional order).
Traders should use leverage cautiously and understand the associated risks.
Registration and Verification Process
Registering and verifying your account on PHEMEX is easy to proceed. PHEMEX Signup Process:
- Visit the website and click "Register";
- Enter your email address and create a strong password;
- Agree to the terms of service;
- Verify your email address through the confirmation link (check your Inbox).
To access all features and higher withdrawal limits, you should complete the KYC process:
- Go to the "User Center" section;
- Click on "Verification";
- Select your country;
- Choose ID Type;
- Upload a valid government-issued ID (front/back);
- pass the selfie verification step.
Once verified, you can access PHEMEX's features and higher withdrawal limits.
Security & Safety Measures
PHEMEX prioritizes user security through several measures:
- Merkle-tree Proof-of-Reserves: Allows users to verify their assets;
- Cold wallet storage: The majority of user funds are stored in offline wallets;
- Amazon Web Service (AWS) Cloud: For robust infrastructure security;
- Two-factor authentication (2FA).
These measures demonstrate PHEMEX's commitment to maintaining a secure trading environment.
Available Payment Methods
PHEMEX offers various payment methods for depositing and withdrawing funds. PHEMEX Payment Methods:
- Cryptocurrency deposits and withdrawals (network fees apply);
- Credit/debit card purchases (through partners, fees apply);
- Fiat deposits (Bank Wire, for free).
These diverse options give the platform a Plus when it comes to accessibility.
Trust Scores and Evaluations
PHEMEX exchange has received mixed reviews from users and rating platforms:
- Trustpilot score: 2.1 out of 5 (based on user reviews);
- CoinGecko Trust Score: 8 out of 10.
While some users praise PHEMEX's features and airdrop distributions, others have reported issues with withdrawals and customer support. As with any exchange, it's essential to research and start with small amounts.
Support’s Working Time and Contact Info
PHEMEX offers two main support channels:
- 24/7 live chat support;
- Email: support@phemex.zendesk.com;
- Help Center with extensive FAQs and guides.
Response times can vary, but PHEMEX aims to resolve most inquiries within 24 hours.
Writer's opinion and conclusion
PHEMEX has established itself as a competitive player in the cryptocurrency exchange market. Its strengths lie in its low fees of 0% and high-leverage options (100x).
However, the mixed user reviews and limited fiat options are points to consider.
