PHEMEX Review 2025

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:

Pros and Cons of PHEMEX Exchange

With the table below, you can have a better idea of the whole image of the Crypto Exchange and see if it suits your standards. PHEMEX Pros and Cons:

Remember, considering trading conditions are key to success in trading with any exchange.

User Levels and Features

PHEMEX offers a tiered membership system with varying benefits. Here is the informative table for Contract Trading:

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:

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)

Phemex’s backend is driven by a dual-core infrastructure - the CrossEngine and TradingEngine, which are engineered to handle up to 300,000 transactions per second.

With an execution time under 1 millisecond, this architecture delivers near-instant order matching and low-latency performance, which is critical for high-frequency and professional traders.

Registration and Verification Process

Getting started on Phemex is simple, and unlocking full platform functionality requires just a few verification steps. With account creation taking under 2 minutes, you can quickly move on to identity verification for secure and unrestricted trading.

#1 Sign Up for Phemex

Visit the official Phemex website and click “Register”, then enter your email address, create a strong password, and agree to the terms of service.

#2 Email Confirmation on Phemex

Check your inbox and click the verification link to activate your account. At this stage, your Phemex account is live and ready for basic use.

#3 Phemex KYC

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 of residence;
• 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.

Platforms and Applications

PHEMEX offers a range of platforms to suit different trading preferences. PHEMEX platforms:

• Web platform: Feature-rich, responsive design with advanced charting tools
• Mobile app: Available for both iOS and Android, offering full trading functionality
• API: WebSocket APIs for market data and orders
• TradingView integration: For advanced technical analysis

You can check TradingFinder's extensive list of TradingView Indicators for additional analytical tools. 

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:

• Phemex Trustpilot score: 2.4 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.

Phemex Features

Let's check the advanced options on the platform; Phemex Features:

Phemex has begun evolving into a hybrid exchange model by introducing decentralized features alongside its centralized infrastructure. A major innovation is the PhemexDAO, a governance system that allows PSP (Phemex Soul Pass) holders to vote on key platform decisions.

The PSP is a non-transferable, soulbound ERC-20 token tied to each user’s wallet. Once minted, which requires a 30-day trading volume of $10,000, it tracks a trader’s history, platform participation, and access rights to exclusive events.

This system promotes long-term engagement and builds a decentralized layer of user ownership.

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.

Copy Trading Services and Investment Options

PHEMEX offers a copy trading feature, allowing users to:

• Follow and copy trades of successful traders;
• Set allocation limits and stop-loss levels;
• View detailed performance metrics of traders.

Additionally, the exchange provides an "Earn" program for passive income:

• Fixed and flexible savings options
• Yield farming opportunities
• Staking services for selected cryptocurrencies

These features cater to both active traders and those seeking passive investment options.

Phemex supports up to 20 customizable sub-accounts per user. Each sub-account operates independently and is ideal for traders managing multiple strategies - such as running bots, hedging long and short positions, or separating portfolios.

All sub-accounts can be monitored from a single dashboard with dedicated performance metrics for each.

List of Restricted Countries

While PHEMEX aims to serve a global audience, certain restrictions apply. PHEMEX Restricted Countries:

• United States of America
• United Kingdom
• Ontario (Canada)
• Québec (Canada)
• Alberta (Canada)
• Saskatchewan (Canada)
• Afghanistan
• Angola
• Belarus
• Belgium
• Burundi
• Central African Republic
• China
• Cuba
• Crimea
• Democratic Republic of the Congo
• Ethiopia
• Eritrea
• Guinea
• Guinea-Bissau
• Haiti
• Iraq
• Iran
• Ivory Coast
• Lebanon
• Liberia
• Libya
• Mali
• Myanmar
• Nicaragua
• North Korea
• Palestine
• Republic of Seychelles
• Russia
• Rwanda
• Sierra Leone
• Somalia
• South Africa
• South Sudan
• Sudan
• Syria
• Venezuela
• Yemen
• Zimbabwe

Users should check the most up-to-date list on the PHEMEX website or contact support for specific country restrictions.

Phemex in Comparison with Other Exchanges

Here is a quick overview of Phemex and other crypto exchanges; Phemex Comparison:

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.