Ram Nisha

Writer:

Ram Nisha
Eda Kaya

Reviewer:

Eda Kaya
Arjun  Mandal

Fact checker:

Arjun Mandal
Modified:

PHEMEX Review 2025

PHEMEX Review 2025
Company:PHEMEX
Headquarter:

Singapore

Founded:2019
Coins:343
US Accepted:
Max Leverage:1:100
Copy TradeMargin TradingSpotFuturesStaking

Investing and trading in financial markets such as the stock exchange, forex, digital currencies in the form of spot or with leverage face a high inherent risk. According to the statistics of all exchanges and brokers, more than 75% of people lose!

About
PHEMEX, a crypto exchange, has roots in traditional finance and is a team of ex-Morgan Stanley executives; it aims to bridge the gap between conventional and crypto markets. PHEMEX provides services from Copy Trade and Staking and has taken many security measures like SSL, Cold wallets, and AWS cloud.
Contact
100 Tras Street, #16-01 100 AM, Singapore 079207.
Rank and Score
Pros and Cons
User Levels
Pros
High leverage
Low fees
Copy trading
Cons
Limited fiat options
Limited customer support options
score of blog
4.8 From 5.0
(4)
Rate this post
669

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.

PHEMEX Review
Find what PHEMEX exchange brings to the table in trading cryptocurrencies

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

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:

Advantages

disadvantages

High leverage (up to 100x)

Limited fiat options

Low fees

Limited customer support options

Copy trading feature

Relatively new in the market

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

PHEMEX advantages
One of the advantages of trading with PHEMEX is Low and Competitive fees

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)
Tradable Coins in PHEMEX
PHEMEX’s diverse range of tradable assets include BTC, USDT, SHIB and more

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.

Creating an account in PHEMEX
To open an account in PHEMEX, you should provide an email and set a password

#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:

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 on Trustpilot
PHEMEX attained a score of 2.1 out of 5 on the Trustpilot website

Phemex Features

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

Staking

Yes

Yield Farming

Yes

Social Trading

Yes

Launchpool

Yes

Crypto Cards

No

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.

Restricted Countries for PHEMEX
PHEMEX does not accept clients from the USA, Iran, Russia, UK and more

Phemex in Comparison with Other Exchanges

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

Parameters

Phemex Exchange

Binance Exchange

OKX Exchange

HTX Exchange

Number of Assets

450+

400+

7800+

700+

Maximum Leverage

100x

125x

10x For Margin Trading / 12x for Futures Trading

200x

Minimum Deposit

0.00000001 BTC

$1

Varies on Payment Method

$1

Trading Fees

0% to 0.1000%

From 0.02% Maker, 0.04% Taker

From -0.01% Maker, 0.03% Taker

From 0.02%

Mandatory KYC

Yes

Yes

Yes

Yes

Futures Trading

Yes

Yes

Yes

Yes

Mobile Application

Yes

Yes

Yes

Yes

Fiat Payment

Yes

Yes

Yes

No

Staking

Yes

Yes

Yes

Yes

Copy Trading

Yes

Yes

Yes

Yes

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.

FAQs

Is PHEMEX safe to use?

The exchange employs strong security measures, but users should practice good security habits, as with any online platform.

Can I use PHEMEX in the US?

No, the platform is not available to US residents.

What are the fees on PHEMEX?

The exchange offers competitive fees, starting from 0.0000%/0.0325% for maker/taker trades (Contract Trading).

Does PHEMEX offer leverage trading?

Yes, the platform offers leverage up to 100x.

Does Phemex Exchange offer futures trading?

Yes, Phemex Exchange provides robust futures trading, supporting both COIN-M and USDT-M perpetual contracts with leverage up to 100x.

Is KYC mandatory on Phemex Exchange?

Yes, Phemex Exchange requires KYC verification to unlock all features, including higher withdrawal limits and full trading functionality.

What types of accounts are available on Phemex Exchange?

Phemex Exchange offers multiple account tiers: Standard, VIP1–VIP5, VIP Star, and Pro1–Pro4, each with distinct fee structures and benefits.

Which countries are restricted from using Phemex Exchange?

Phemex Exchange restricts users from over 40 jurisdictions, including the USA, UK, Canada (certain provinces), Iran, and Russia.

Does Phemex Exchange support fiat currency deposits?

Yes, Phemex Exchange allows fiat deposits via credit/debit cards and bank transfers, depending on your region.

What is the minimum deposit amount on Phemex Exchange?

You can start trading on Phemex Exchange with as little as 0.00000001 BTC, depending on the asset.

Does Phemex Exchange offer copy trading?

Yes, Phemex Exchange provides a copy trading feature, enabling users to mirror the strategies of top-performing traders.

What payment methods are available on Phemex Exchange?

Phemex Exchange supports crypto deposits, fiat via card/bank, and withdrawals in cryptocurrency only.

What are the trading platforms supported by Phemex Exchange?

Phemex Exchange offers a web platform, mobile apps for iOS/Android, API integration, and TradingView connectivity.

Can I stake cryptocurrencies on Phemex Exchange?

Yes, Phemex Exchange supports staking, yield farming, and other "Earn" features for passive income generation.

What is the Phemex Exchange customer support like?

Phemex Exchange offers 24/7 live chat and email support, along with an extensive Help Center for self-service.

Is there an affiliate program on Phemex Exchange?

Yes, Phemex Exchange runs an affiliate program with competitive commission structures for referred users.

What features make Phemex Exchange stand out from competitors?

Phemex Exchange stands out for its zero-fee maker rates, high leverage, advanced order types, and diverse asset list.

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