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Phemex Review 2025

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426
users picked this company in 3 months
7.84/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Minimum deposit:
  • ₿0.00000001
Trading platform:
  • TradingView
Trading features
  • Loads of cryptocurrencies and tokens, low minimum deposit, low commissions, high leverage, profitable referral program, available for investing (staking), a lot of discounts and bonuses

Our Evaluation of Phemex

7.84/10
TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Traders Union icon

Phemex is a reliable cryptocurrency exchange with the TU Overall Score of 7.84 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by Phemex clients on our website, Traders Union expert Anton Kharitonov believes he can recommend this company as the majority of reviews showed that the broker’s clients are mostly satisfied with the company.

The Phemex crypto exchange offers an easy-to-learn trading terminal and a wide range of opportunities for the comfortable trading of cryptocurrency. In addition to active trading, you can earn passively on investment decisions and through the referral program. Exchange commissions are lower than the market average even without a premium account. Available to trade on the spot through the bot, and there are no restrictions on trading strategies. The exchange has a significant welcome bonus (up to $100), the site regularly conducts promotions and contests for traders of all levels.

Brief Look at Phemex

The Phemex exchange is a platform for spot and contract trading of cryptocurrencies. Bitcoin (₿), Litecoin (Ł), Ethereum (Ξ), Tether (₮), Dash (Ð), Ripple, DOGE, DOT, ADA, and many other cryptocurrencies and tokens are available for trading on this platform. The exchange stands out for its low fees: 0.1% for spot, and 0.075/-0.025% for contracts (taker/maker, respectively). Premium account reduces spot fees to 0%, and there are no withdrawal limits. The only fiat currency available on the site is the US dollar. All basic deposit/withdrawal options are available, including direct transfers from bank cards. The exchange offers a demo account, educational guides with the possibility of earning cryptocurrency, and a welcome bonus for newcomers. There are investment solutions with payouts of up to 10% per annum. The platform is lightning fast and is stable. Also, there are mobile versions.

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Advantages of trading with Phemex:
  • spot and contracts, loads of cryptocurrencies, tokens, and the US dollar;
  • the ability to reduce spot trading fees to 0%;
  • leverage x100 is available for contract trading;
  • minimum deposit only ₿0.00000001 (or the equivalent);
  • demo accounts and free premium mode test;
  • extensive knowledge base, and tutorial guides with crypto payouts;
  • referral program with discounts on commissions;
  • investment programs with flexible and fixed deposits;
  • Star Composition program gives users new opportunities;
  • cold storage of funds, high levels of data protection.
Disadvantages of Phemex:
  • communication with technical support is conducted via email only;
  • without a premium account, trading conditions are less favorable.

TU Expert Advice

Anastasiia Chabaniuk

Author, Financial Expert at Traders Union

Phemex is a cryptocurrency exchange providing access to a wide range of cryptocurrencies and tokens, spot and contract trading, as well as a user-friendly trading platform. It offers low fees, high leverage, and a minimum deposit threshold of 0.00000001 BTC, benefiting both novice and experienced traders. Key advantages include the availability of demo accounts, educational resources with cryptocurrency rewards, and a referral program with discounts. Additionally, investment solutions offer potential return rates up to 10% per annum, catering to a variety of trading and investment strategies.

However, Phemex has drawbacks, such as client support options restricted to email communication, and the best trading conditions requiring the Premium account. These factors may not suit traders who prioritize real-time support and the most favorable trading conditions without additional fees. Overall, Phemex may primarily appeal to beginners for its educational offerings and low entry costs, while experienced traders attracted to minimal fees and diverse assets may find suitable opportunities despite needing to manage support limitations.

Phemex Summary

Your capital is at risk. Cryptocurrency trading can be extremely risky. Cryptocurrency trading can lead to large and immediate financial losses. The volatility and unpredictability of the price of cryptocurrency relative to fiat currency may result in significant loss over a short period of time. Transactions in cryptocurrency may be irreversible, and, accordingly, losses due to fraudulent or accidental transactions may not be recoverable. The nature of cryptocurrency may lead to an increased risk of fraud or cyber attack.

💻 Trading platform: TradingView 
📊 Accounts: Premium, Standard, demo
💰 Account currency: Cryptos, USD
💵 Deposit / Withdrawal: Bank cards and accounts, electronic and cryptocurrency wallets
🚀 Minimum deposit: ₿0.00000001 
⚖️ Leverage: Up to х100
💼 PAMM-accounts: No
📈️ Min Order: From 0
💱 Commission: Spot: 0,1%-0,1%
Futures: 0,01%-0,06%
🔧 Instruments: 350 supported coins, Futures, Perpetual contracts, Options, Fiat, NFT.
💹 Margin Call / Stop Out: No
🏛 Liquidity provider: No
📱 Mobile trading: Yes
➕ Affiliate program: Yes
📋 Order execution: Not indicated
⭐ Trading features: Loads of cryptocurrencies and tokens, low minimum deposit, low commissions, high leverage, profitable referral program, available for investing (staking), a lot of discounts and bonuses
🎁 Contests and bonuses: Yes

The Phemex crypto exchange has one of the lowest minimum deposits, which is ₿0.00000001 or the equivalent in other cryptocurrencies (or tokens). This is convenient for newcomers, especially when combined with a demo account and the opportunity to earn money by going through training programs. Leverage is not available for spot trading, only for contract trading, and is x100. Connection to technical support and representatives of the company is by email (it is specified in the Support Center section). The table below shows the main trading conditions of the exchange:

Phemex Key Parameters Evaluation

Video Review of Phemex

User Satisfaction i

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nonkit
15 weeks ago

I've only been trading on the Phemex platform for a short while, but I've already come to appreciate the fact that there's both spot trading and the option to enter into contracts. The range of instruments isn't bad either - crypto-currency pairs, various tokens and trading against the US dollar are available. The only thing that's a little confusing is that communication with technical support is exclusively via e-mail. There's no chat or phone. Sometimes you have to wait longer for an answer than you'd like, especially if the question is urgent. If you're not a beginner and you're already familiar with the platform, you can get to work. But for those who need real-time operational support, this can be an inconvenience.

Je négocie sur la plateforme Phemex depuis peu, mais j'ai déjà pu apprécier le fait qu'il existe à la fois des opérations au comptant et la possibilité de conclure des contrats. La gamme d'instruments n'est pas mal non plus - des paires de crypto-monnaies, divers jetons et le trading contre le dollar américain sont disponibles. C'est plus que suffisant pour une stratégie de base.
La seule chose qui est un peu déroutante est que la communication avec le support technique se fait exclusivement par e-mail. Il n'y a ni chat ni téléphone. Parfois, vous devez attendre une réponse plus longtemps que vous ne le souhaiteriez, surtout si la question est urgente.
Si vous n'êtes pas un débutant et que vous êtes déjà familiarisé avec la plateforme, vous pouvez travailler. Mais pour ceux qui ont besoin d'une assistance opérationnelle en temps réel, cela peut être un inconvénient.

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ferozbaig
17 weeks ago

I've been trading on phemex for a month and I've noticed that the conditions depend directly on the type of account. Without premium status, conditions are much more modest - commissions are higher and some privileges are not available. At first, this was a little frustrating, but for basic trading and without special volumes, it's still an option that works. On the other hand, it's nice to see that for active spot trading, it's possible to reduce commissions down to 0%. I haven't yet reached this level of turnover, but I can already see that costs are falling as volume increases. This really motivates you to trade more consciously and plan your volumes.

Je négocie sur phemex depuis un mois et j'ai remarqué que les conditions dépendent directement du type de compte. Sans statut premium, les conditions sont beaucoup plus modestes - les commissions sont plus élevées et certains privilèges ne sont pas disponibles. Au début, c'était un peu frustrant, mais pour le trading de base et sans volumes spéciaux, c'est toujours une option qui fonctionne.
D'un autre côté, il est agréable de constater qu'en cas de négociation active au comptant, il est possible de réduire les commissions jusqu'à 0 %. Je n'ai pas encore atteint ce niveau de chiffre d'affaires, mais je peux déjà constater que les coûts diminuent avec l'augmentation du volume. Cela vous motive vraiment à négocier plus consciemment et à planifier vos volumes.

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Isha Lewis
1 year ago
Location US Miami

I'd give this scam site a zero if I could. They will manipulate the price just so you never get ahead. I've lost $thousands to this site never fails when you short BTC the price will go up indefinitely until you are liquidated. Oh you think maybe you got the long right no they will drop the price right out from under until you are liquidated everytime. Don't waste your money on this pos scam company.

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Sahan
1 year ago

The Phemex is unreliable, customer support lacks effectiveness, coin offerings are limited, and fee structure is opaque. I advise caution and suggest exploring alternative exchanges.

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Bentley
1 year ago

Initially, I registered on the Phemex platform for the purpose of conducting active trading operations. The conditions offered by this platform turned out to be very suitable. What I liked the most was the possibility to try the Premium mode for free before investing real money. However, for those who are not ready to access a Premium subscription right away, Phemex offers the option to start with a basic account. The minimum deposit is as low as ₿0.00000001. In addition, Phemex also provides investment solutions that offer very attractive interest rates for deposits. It has flexible and fixed rates. In total, I have earned over $10,000 USD in passive income.

Inicialmente, me registré en la plataforma Phemex con el propósito de llevar a cabo operaciones de trading activas. Las condiciones que ofrece esta plataforma resultaron ser muy adecuadas. Lo que más me gustó fue la posibilidad de probar la modalidad Premium de forma gratuita antes de invertir dinero real. Sin embargo, para aquellos que no estén listos para acceder a una suscripción Premium de inmediato, Phemex ofrece la opción de comenzar con una cuenta básica. El depósito mínimo es de tan solo ₿0,00000001. Además, Phemex también brinda soluciones de inversión que ofrecen tasas de interés muy atractivas para los depósitos. Tiene tarifas flexibles y fijas. En total, he obtenido más de 10.000 USD en ingresos pasivos.

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manchesterfan
1 year ago

I agree that Phemex deserves attention, although this exchange isn't as popular as others. However, it has a bunch of advantages over its competitors such as a demo account, a free test of its premium account, training, and excellent leverage, which increases the chances of high gains. Payment discipline is also at a high level, so there are no problems with withdrawals. The only thing is that there is no call center for quick communication with the support team. Although, only once have I asked for help in two years of trading on this platform.

Je suis d'accord pour dire que Phemex mérite l'attention, bien que cette bourse ne soit pas aussi populaire que d'autres. Cependant, il a un tas d'avantages sur ses concurrents tels qu'un compte démo, un test gratuit de son compte premium, une formation, et un excellent effet de levier, ce qui augmente les chances de gains élevés. La discipline de paiement est également à un niveau élevé, de sorte qu'il n'y a pas de problèmes avec les retraits. La seule chose est qu'il n'y a pas de centre d'appel pour une communication rapide avec l'équipe d'assistance. Bien que, une seule fois, j'ai demandé de l'aide en deux ans de trading sur cette plateforme.

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Freddset
1 year ago

As a beginner, I needed support and guidance at the beginning, and Phemex more than met my expectations. The platform provides training guides and a Demo account so users can practice without risking real money. In addition, the knowledge base is extensive and even meets the needs of experienced traders. Now, Phemex could improve direct communication with support. In my experience, the email response time was longer than desired. This is an area the company could focus on to improve its reputation and strengthen its customer base.

Como principiante, necesitaba apoyo y orientación al principio, y Phemex cumplió con creces mis expectativas. La plataforma proporciona guías de capacitación y una cuenta Demo para que los usuarios puedan practicar sin arriesgar dinero real. Además, la base de conocimientos es amplia e incluso satisface las necesidades de los traders experimentados. Ahora bien, Phemex podría mejorar la comunicación directa con el soporte. En mi experiencia, el tiempo de respuesta por correo electrónico fue más largo de lo deseado. Esto es un área en la que la empresa podría enfocarse para mejorar su reputación y fortalecer su base de clientes.

Score:
Our evaluation encompasses several key factors, including government regulation, two-factor authentication (2FA), cold wallet storage of client assets, investor protection funds, KYC protocol adherence, year of foundation, and history of security breaches. Read more in our Methodology
10/10

Regulation and safety

Phemex has earned a rating of 10/10, demonstrating strong security and regulatory compliance. This score suggests that the exchange is generally reliable and offers a solid level of protection for users.

Advantages of Phemex
  • Investor protection fund
  • Cold wallet storage
  • No successful hacks history
  • Tier-1 regulation
  • 2FA
  • Government-regulated
Disadvantages of Phemex
  • No facial recognition
  • Not U.S regulated

Phemex Security Factors

We also compared Phemex against the top two competitors with the highest scores in our overall ranking based on the most critical security indicators.

Phemex OKX Kraken
Tier-1 regulation Yes No Yes
Government-regulated Yes Yes Yes
Investor protection fund Yes Yes No
2FA Yes Yes Yes
Facial recognition No Yes No
Cold wallet storage Yes Yes Yes
Successful hacker attacks No No No

Is Phemex a regulated crypto exchange?

Phemex is regulated by a Tier-1 financial authority (e.g., in the U.S., UK, Germany, Spain, France, Australia, Singapore, or another jurisdictions with strict financial oversight). This ensures strong investor protection, compliance with stringent operational standards, and enhanced security for users trading on the platform.

Phemex is authorized or licensed in accordance with local regulations in the following regions: Canada.

Is verification (KYC) mandatory at Phemex?

Yes, KYC verification is mandatory at Phemex. You will need to complete the verification process before you can open an account and access the platform's full range of services.

In which countries is Phemex available?

Phemex complies with international sanctions and regional restrictions. Services are limited or unavailable in the following countries: United Kingdom, Canada, Iran, Islamic republic, Belgium, Korea, China, Venezuela, Bahrain, Palestine, Jordan, Iraq, Qatar, Kuwait, Lebanon, Libya, Oman, Syria, Tunisia, Yemen, Botswana, Tanzania, Zimbabwe, Namibia, Ethiopia, Jamaica, Zambia, Hong Kong, Afghanistan, Trinidad and Tobago, Brunei, Nepal, Serbia, Somalia, Cameroon, Rwanda, Slovenia, Eswatini, Croatia, Mongolia, Myanmar, Montenegro, Cambodia, Taiwan, Mozambique, Madagascar, Dominican Republic, Albania, Mauritius, Puerto Rico, Cote d'Ivoire, Laos, North Macedonia, Papua New Guinea, Costa Rica, Luxembourg, Malta, Ecuador, Bahamas, Haiti. For the most up-to-date information on regional availability, please contact Phemex support.

Is Phemex available in the USA?

Yes, Phemex is available in the USA. However, availability may vary by state due to local regulations. We recommend checking the official website or contacting support for up-to-date information specific to your location.

Score:
This category evaluates trading costs and the transparency of deposit and withdrawal charges according to the Methodology. It covers spot and futures trading fees, P2P exchange costs, deposit/withdrawal fees, and tiered fee structures. The assessment ensures that fees are competitive and clearly disclosed, avoiding hidden or excessive costs. Each factor is scored based on defined criteria, contributing to the overall rating.
8.25/10

Phemex commissions and fees

Phemex has earned a rating of 8.25/10 for its trading fees. This makes it a highly attractive choice for active traders seeking to reduce costs, as Phemex is a platform with minimal crypto trading costs.

Advantages
  • Futures fees below industry average
  • Spot fee below industry average
  • No deposit fee
  • No P2P fee
Disadvantages
  • Withdrawal fee may be applied

What are Phemex trading fees?

We analyzed Phemex’s crypto fees and compared them to the top two competitors, both of which hold high average positions in our rankings. To establish a comprehensive benchmark, we also calculated the average fee score based on an evaluation of over 100 cryptocurrency exchanges.

Phemex trading fees vs competitors

Phemex Binance Bybit Industry average
Spot, maker fee (%) 0,1 0,1 0,1 0.15
Spot, taker fee (%) 0,1 0,1 0,1 0.194
Futures, maker fee(%) 0,01 0,02 0,02 0.024
Futures, taker fee(%) 0,06 0,05 0,055 0.053

What are Phemex deposit and withdrawal fees?

Deposit fee, % 0
Withdrawal fee, % 0,0005 BTC​

Does Phemex offer P2P trading?

Yes, Phemex offers a P2P trading platform. We have provided the fees for these transactions and compared them with competitors.

Phemex P2P Fees

Phemex Binance Bybit
P2P maker fee (%) 0 0,1 0
P2P taker fee (%) 0 0,1 0
Score:
We evaluated the deposit and withdrawal experience, considering several key factors such as the range of available methods, transaction processing speed, minimum deposit requirements, and associated fees. Read more in our Methodology.
6.5/10

Deposit and withdrawal

Phemex received a 6.5/10 rating for its deposit and withdrawal services. While Phemex covers basic payment options, the platform lacks some widely used methods that could improve user flexibility.

Advantages
  • Bank cards accepted for instant deposits
  • Many cryptocurrencies for deposits and withdrawals
  • P2P for flexible transfers
  • Bank transfers for deposits and withdrawals
Disadvantages
  • No PayPal option
  • No Google Pay option
  • Withdrawal fee applies

Deposit and withdrawal options

Phemex supports the following deposit and withdrawal options: Bank transfers, Bank card, Crypto.

Phemex Deposit and withdrawal options vs competitors

Phemex OKX Kraken
Bank transfers Yes No Yes
Bank card Yes Yes Yes
Crypto Yes Yes Yes
PayPal No No Yes

What is Phemex minimum deposit?

The minimum deposit at Phemex is 10 USD/USDT or 0,00001 BTC. The minimum trade size is 1 USD/USDT, which also serves as the minimum amount required to start trading on the platform.

Phemex minimum deposit vs competitors

Phemex OKX Kraken
Minimum deposit, USD or USDT 10 10 10
Minimum deposit, BTC 0,00001 0,0005 0,0001
Minimum trade amount, USD/USDT 1 0,00001 1

Does Phemex support fiat money?

Phemex supports fiat currency trading and account funding. The following fiat currencies are accepted:

Score:
9/10

Supported coins & markets

Phemex received a score of 9/10 in this category, highlighting its excellent selection of tradable assets and market access. Phemex supports 350 coins and caters to various trading types, making it a strong choice for both active traders and long-term investors.

Advantages
  • Yield farming available
  • Fiat currencies supported
  • Crypto futures available
Disadvantages
  • Regional product restrictions are possible

Phemex supported coins and markets vs competitors

We compared Phemex with leading exchanges in terms of supported coins, NFT access, and derivatives like futures and options to help users assess the platform’s product range and trading flexibility.

Phemex OKX Kraken
Supported coins 350 329 278
Futures/Perpetual contracts Yes Yes Yes
Options Yes Yes No
NFTs Yes Yes Yes

Phemex passive income options vs competitors

We also compared Phemex with top competitors in terms of passive income opportunities such as staking, farming, and copy trading, to help users evaluate the platform’s earning potential beyond regular trading.

Phemex OKX Kraken
Staking Yes Yes Yes
Yield farming Yes Yes Yes
Copy trading Yes Yes Yes
Score:
This section evaluates the quality and variety of trading platforms offered by the broker. It considers supported platforms, core features, device compatibility, and the availability of tools for automation, analysis, and different trading styles.
9/10

Trading apps & tools

Phemex received a score of 9/10 for its trading apps and tools. Its mobile platforms are highly rated on both iOS and Android, delivering smooth performance, advanced charting capabilities, and real-time market data.

Advantages
  • Strategy sharing with Copy Trading
  • Advanced tools and automation with API
  • Android app score 4,6
  • Automated trading with bots
Disadvantages
  • Advanced orders not available
  • No standalone desktop access
  • No Face ID

Trading apps

Phemex provides web and mobile apps for both Android and iOS users, with an average rating of 4,6 on the App Store and 4,6 on Google Play. Our review focused on core features important to traders, particularly trading functionality and security tools, to evaluate how convenient and safe the Phemex platform is for mobile use.

Phemex
2FA Yes
Face ID No
Mob Indicators Yes
Alerts Yes
Advanced Orders Yes
Trading with bots Yes
API Yes
Extra trading platforms No

Does Phemex offer a desktop app?

No, Phemex does not currently offer a desktop app. However, users can access the platform via its web version, which provides more comprehensive functionality compared to the mobile apps.

Does Phemex offer advanced charting with TradingView integration?

Yes, Phemex offers advanced charting through direct integration with TradingView. Users can access TradingView’s full suite of indicators, drawing tools, and multi-timeframe analysis directly on the platform.

Contacts

Foundation date 2019
Registration address Singapore
Official site https://phemex.com/
Contacts

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