About Phemex

Fees

1.85%
average
Fees

Number of cryptocurrencies

600+
large selection

Payment methods

  • Bank
  • Credit card

Description

Phemex is a modern and popular exchange for trading derivatives, such as perpetual contracts, and is led by former executives of the renowned investment bank Morgan Stanley. The platform offers an extensive range of features for professional traders and is known for fast order execution and high liquidity.

Other

Company headquarters
Singapore
Founding year
2019
Social media
483,164 followers

Our Phemex rating

Review result

Overall rating
Phemex
Ease of use
Phemex: 7 of 10
Ease of use (Phemex)
7/10
Phemex Logo
complexsimple
Features
Phemex: 7 of 10
Features (Phemex)
7/10
Phemex Logo
basiccomprehensive
Fees
Phemex: 6 of 10
Fees (Phemex)
6/10
Phemex Logo
highlow
Security & trust
Phemex: 6 of 10
Security & trust (Phemex)
6/10
Phemex Logo
weakstrong
Beginner-friendliness
Phemex: 6 of 10
Beginner-friendliness (Phemex)
6/10
Phemex Logo
unsuitableideal
Support
Phemex: 6 of 10
Support (Phemex)
6/10
Phemex Logo
poorexcellent

Our opinion

We consider Phemex a solid platform for experienced traders. It is often compared to Bybit and offers a similar range of trading tools and derivatives. Bybit has the edge when it comes to liquidity and a longer track record in the market, while Phemex scores points with its availability in German. However, instant purchase costs are relatively high due to the spread included in the price, despite no visible trading fees being charged. For lower costs, users can switch to spot trading (from 0.1% maker/taker fees). Trading platform interfaces are ultimately a matter of taste, but we consider Phemex a very well-organized platform with a modern design and all the essential tools for crypto trading. That said, we advise caution due to regulatory uncertainties. Due to the platform's complexity, we'd recommend beginners look at other exchanges.

Pros and cons

What we like:

  • Clear trading interface
  • High liquidity
  • Low fees for spot trading

What we don't like:

  • Not beginner-friendly
  • Limited regulatory oversight
  • No US access

Phemex user reviews

3.9/5
Overall rating

App Store

around 2,600 ratings

4.6/5

Google Play Store

around 15,400 ratings

4.8/5

Trustpilot

around 300 ratings

2.3/5

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What users say about Phemex

Our artificial intelligence (AI) collects and analyzes user experiences about Phemex from across the web and summarizes the most important insights for you in a clear and concise way.

User review summary for Phemex

Overall, Phemex leaves a positive impression on users. They praise the simple user interface, wide range of offerings, and helpful customer support. Critical feedback mainly relates to the lack of transparency around certain fees and the complexity of some features.

Phemex preview

Phemex features

Features

Real crypto
Yes
Transferable to own wallet
Yes
DCA plan
No
Staking
Yes
NFT marketplace
No
Trading tools
Yes
Two-factor authentication
Yes

Special features

  • OTC trading
  • Phemex Earn
  • Launchpad

Tradeable assets

  • Cryptocurrencies

Trading options

  • Derivatives
  • Margin trading (leverage)
  • Short/long positions

About Phemex

Phemex Logo
Phemex
 (Exchange)

Company

Company
PHEMEX TECHNOLOGY PTE. LTD.
Headquarters
Singapore
Company size
Medium
Regulation
Money Services Business (MSB)
Founder
Jack Tao
Founding year
2019