phemex review | Is phemex safe ? upto 100x leverage

Facebook
Twitter
Telegram
WhatsApp

Free Trading for Market Maker

Trading Fees

User Friendly

Trust Score

Leverage Trading

Welcome bonus

Phemex, a Singapore-registered crypto exchange. Phemex offers spot and derivative trading and the ability to buy/sell crypto with fiat currency and debit or credit card. The trading volume of Phemex has increased dramatically in recent times, showing that traders have more confidence in this platform.

    • Is phemex available in the US?
    • What are the best features of phemex?
    • Does phemex require KYC?
    • What are the phemex trading fees?

The first step for people new to crypto is to find the right crypto exchange. Plus, there are so many exchanges that it’s hard to pick the right one that meets all your needs.

CryptoCoinFriends does all the work for you. We look at all the exchanges out there and show you the best ones so you can choose. Also, you don’t have to pick one. 

You can spread out your investments among several exchange accounts. Make sure you keep your eggs in different boxes.

We have an interesting one for you today. The exchange is called Phemex. Let’s dive in and learn more about phemex review.

phemex overview

Phemex is a well-known centralized exchange for cryptocurrencies. They were founded in Singapore in 2019. You can trade futures and spots, as well as convert cryptocurrencies.

People love the phemex exchange because it has low fees and lets you trade without KYC verification.Phemex ranks among the top 10 crypto exchanges in the world based on its derivatives trading volume.

Table of Contents

phemex team, where they registered?

They started Phemex in 2019 to fix the crypto market’s lack of professionalism and flexibility. Former Morgan Stanley executives ran the company.¬†

Tao, who has worked in traditional banking for 11 years, was driven by personal losses caused by hacks into crypto exchanges.

To make a fast, professional, and cheap crypto platform, he put together a group of 30 expert developers, some of whom were past coworkers and infrastructure experts. 

The development of Phemex began in 2017 and will be released in 2019 after many tests. Trading started on November 25, even though there was a test phase.

phemex features and advantages

Phemex became one of the most popular crypto exchanges within two years. Users find it valuable that the platform offers some advanced features. Below, we’ll discuss some of the platform’s most mesmerizing features.

how to buy crypto with single click

Phemex Review
Buy Crypto on Phemex Exchange

Here is a step-by-step guide on how to One-Click Buy Crypto:

1. Register or make sure you are logged into your Phemex account.

2. On the header menu, hover over¬†‘Buy Crypto’¬†and click¬†‘One-Click Buy/Sell Crypto.’

3. Choose the desired fiat currency and crypto type from the drop-down menu, then enter the amount of fiat you want to spend. Then, the “I will receive”¬†field will auto-populate based on the fiat amount and currencies selected. Click the “Buy”¬†button when ready.

4. Select the payment method; you can use the recommended payment method or select your preferred one.

Note: Phemex will recommend a payment method based on the best exchange rate. It should be noted that our service partners provide the exchange rates.

zero fees and spot trading

Phemex
Phemex Spot Trading Interface

Phemex is among the few exchanges that reward Market Makers who trade perpetual contracts. Market Makers place “limit orders,” which are exchange-specific orders. This increases liquidity in the market.

On the other hand, market takers are those who place “Market Orders.”

The exchange charges a transaction fee.

  • Market Makers 0.010%
  • Market Takers 0.050%

The fees Market Takers charges are among the lowest on the market.

For the spot trading, the exchange charges a fee of 0.1% per transaction for market makers and takers.

Phemex Exchange offers spot trading on over 284 different crypto pairs.

Perpetual Contracts

Phemex’s perpetual market comprises three settlement currencies: USDT-margined (USDT-M PERPETUAL), USD-margined (USD-M PERPETUAL), and COIN-margined(COIN-M PERPETUAL). Traders have the option to leverage their investment up to 100X.

There are also categories to choose from under USDT perpetual tokens, such as DeFi, DAO, and AI. The platform offers mock trading because the market for perpetual futures is high-risk and high reward, and opening a trade is a huge gamble.

The perpetual option also allows you to isolate or cross the wallet position.

The following order types, Limits, Markets, and Conditions can be used in junction with advanced settings to trade:

Reduce only– A Reduce-only order reduces the trader’s position and the risk of an over-exposure.

Post only¬†‚Äď Orders placed by post will not be executed immediately. They are used for a rebate on Marker.

Bracket orders help traders limit their losses and lock in profits by “bracketing” orders with opposite side orders.

Phemex offers leveraged trading up to 100X

Phemex contracts have a 0.01% taker fee and a 0.01% maker fee. These fees can be further reduced by joining the phemex VIP program. Phemex contracts provide a 100x leverage for many assets, including BTC and ETH.

You should be aware that Margin / Leveraged Trading can be risky and you shouldn’t do it without enough knowledge and experience.

phemex bot trading

Phemex

Trading bots are a game changer in the crypto world. They allow traders to take advantage of opportunities around the clock. The potential of automated trading cannot be denied. 

With over 204,780 bot traders worldwide, they have generated an impressive $ 8,523,747 in earnings.

Phemex
Phemex Trading Bots

Over 690,263 trading bots are available worldwide. They offer speed, efficiency and profitability. Trading bots can be incorporated into any strategy, whether you are a seasoned or new trader.

phemex automated trading bot types and It’s key features:

Futures grid: Multiply the earnings by 100, suitable for any market condition.

Futures-Martingale: Use dollar-cost-averaging and strength to recover quickly from losses.

Spot grid: Buy low and sell high 24×7 automatically. Perfect for volatile markets.

Signal¬†Trading: Automated trading using signals from TradingView’s webhook.

Phemex Trading Bots are completely free and available to all users. Your fees remain the same as our standard trading fees based on the VIP level.

phemex p2P trading |zero transaction fee

Phemex P2P offers favourite peer-to-peer transactions. It provides a seamless, zero-fee trading experience where users can buy crypto with local fiat or sell crypto for local fiat.

phemex p2p trading advantages

Zero Transaction Fees: Enjoy zero fees for all transactions as a P2P user and merchant.

Convenient Payment Methods: Access 15 payment methods, including PayPal, ApplePay, and various banking options.

Flexible Trading: Browse and select or create custom offers as a merchant.

Secure Trading: Trade directly with other users, eliminating intermediaries and ensuring privacy.

Join Phemex P2P Today: Experience seamless, secure, and fee-free peer-to-peer transactions with Phemex P2P.

Note:Completion of KYC and binding 2FA is mandatory for P2P trading.

copy trading

You can copy the trading strategies and patterns of others to make a profit. Beginners can learn to copy experts’ trading strategies and increase their profits while gaining experience.

You can filter expert traders on phemex based on their total balance, monthly ROI, and profit/loss (PnL). A maximum of 100 users are allowed to follow one trader. 

Remember that traders set a minimum limit for how much their followers can have in their wallets. Make sure that you have enough assets to follow.

As an expert trader, you can earn a good passive income. Phemex allows professionals to earn a commission on their followers’ profits.¬†

If you can benefit others through your successful strategies, you will receive a bonus of a certain percentage from the profit your followers make.

phemex earn

Phemex
Phemex Earn

Phemex Earn is a method of earning interest on crypto held at the exchange. Flexible Savings is not time-bound, as users can earn interest regardless of how long they have staked.

Savings rates are between 0.3% and 10% and support more than 10 assets, including BTC, ETH and stablecoins.

Fixed Savings Accounts offer higher interest rates if the money is locked up for the specified term.

Comparing fixed accounts to other platforms, the Annual Percentage yield (APY) is quite high. 

Phemex offers APYs ranging from 0.5% up to 10% with lock-ins of 7 or 14-day periods. This makes it one of the best platforms for passive income.

phemex launchpool

Phemex’s launch pool allows users to earn interest on tokens with a higher APY. Some APYs could reach as high as 500%.

phemex prediction markets

You can get prize money by predicting the right outcome‚ÄĒthe predictions on sports, politics, cryptos and football frenzy.

supported countries and Currencies

Phemex Exchange supports more than 20+ payment methods and 80 different fiat currencies, including USD, EUR, GBP, JPY, AUD, etc.

Countries in which services of Phemex are restricted are as follows:

Afghanistan
Aland Islands
Albania
Algeria
Andorra
Angola
Anguilla
Antigua and Barbuda
Armenia
Aruba
Azerbaijan
Bahamas
Bahrain, and many more .

Please check here for a full list of fiat deposit-restricted countries.

phemex sub accounts

The exchange offers a subaccount feature to its users. You can create multiple exchange accounts within a single account.

You can use sub-accounts to:

  • Investing,
  • Trading,
  • Bot Trading
  • Experimentation, etc.

You can then keep your money separated by the use of it.

The Phemexia Web3 Ecosystem

Phemexia, developed by Phemex as a Web 3.0 eco-system, offers a hybrid exchange with decentralized components. This includes a unique NFT tied to an individual’s identity, utility and governance tokens.

phemexia soul pass

Phemex
Phemex Soul Pass

Phemex Soul Pass, a non-transferable and non-tradable ERC-20 Token, has been designed for users to establish their identity in Phemexia. 

The company describes it as a passport allowing users to access benefits in the Phemexia eco-system.

Soul Pass holders can participate in the PT staking event to earn additional PT.

phemex token and its benefits

Phemex released its native token, Phemex Token, in November 2023. It is an ERC20 utility token. PT offers a wide range of benefits and uses within the Phemexia eco-system:

Trading fee discounts: Trading fees are reduced for holders of PTs.

Staking yield:¬†Earn the industry’s highest APR (Annual percentage rate) by staking PT.

VIP privileges: Staking PT offers VIP trading fee discounts. Users who reach VIP status by vePT holdings will also receive airdrops monthly for making deposits.

Deposit Cashback Airdrops: Stake PT and get cashback airdrops.

DAO Governance: Staking PT unlocks governance rights for vePT holders on PhemexDAO.

Launchpad & Launchpool: PT holders can access the Phemex Launchpad & Launchpool.

phemex PT staking

The Phemex Token has been launched alongside PT Staking, allowing investors to share in the exchange’s revenue and profit as it expands.¬†

This innovative staking model offers a 1,000% Annual Percentage Rate and reduced trading fees.

key features of PT staking

Stable Earnings: Investors who stake PT can enjoy a steady APR of up to 1,000%, which makes their investment much more valuable.

Flexibility: Phemex gives users several staking choices to meet their needs best.

Security and Trust: PT staking uses smart contracts in the Optimism network to make things more open and secure, which lowers the chance of accidentally mismanaging assets.

 Phemex ensures that PT users have a safe place to stake their coins.

Phemex Pulse - social trading platform

Phemex understands that exchanges are trusted partners in developing crypto communities and has developed a plan to ensure users feel empowered and united.

Phemex’s new social trading platform, PhemexPulse, was launched in January 2024 to unite the community. It is intrinsically tied to its Web 3.0 ecosystem.

  • Group owners who form their group and attract followers by providing top-notch trading tips and content can win a prize pool of 50 million PT. (At minimum, 20% of the prize pool will be given to group owners)
  • PhemexPulse empowers KOLs by empowering them to do what they are best at – leading, engaging, and removing boundaries within their community. Phemex then opens the door for their influence to be transformed into PT wealth.
  • Owners can create groups for their followers to join, encouraging connection and engagement. By interacting with the group and trading, they can earn rewards. The 50 million PT prize fund is shared equally amongst the group members, with 80% of it going to them.

phemex trading fees list

The exchange is known for its low trading fees. You will pay the same fees whether you are KYC verified but withdraw at a different rate.Your VIP status determines trading fees. 

You will enjoy 0.01% taker and 0.01% maker fees at the standard VIP level. At Pro 2, however, the maker fee is 0%, and the taker fee is 0.0325%. By trading more, you can increase your VIP status.

The Phemex fees themselves are relatively straightforward:

  • Spot Markets: 0.1% maker & 0.1% taker fees
  • Contract Markets: 0.01% maker and 0.06% taker fees
  • Withdrawal Fees: Low fees

spot market fees list

The fee structure on the Phemex market is divided into ten levels. The fee for both a maker and taker at the basic level, i.e., standard, is 0.1%. 

The higher level means a lower fee. there are standard, VIP1 -VIP5 levels, star VIP, PRO 1 and Pro2 levels.

Phemex
Phemex Spot Trading Fees

The level of the trader in the system is determined by the USD balance on the trading account and the monthly volume of spot trading or vePT balance or, asset balance or contract trading. 

The maker’s and taker’s fees are 0.000% at the start of VIP and pro 2 levels.

Future (Contracts) trading fee list

Contract trading fee also depends on VIP levels; the maker of Star VIP,pro1, and pro2 is zero. Where taker fee is 0.030%, 0.035%, and 0.0325%

Users can upgrade to VIP level 1 by achieving any of the following:

8,000,000.00 in contract volume, 8,000,000.00 in spot volume, holding 50,000.00 vePT, or holding 50,000.00 in assets.

Phemex
Phemex Contracts Fee list

phemex deposit and withdrawal fee

The phemex Exchange offers a variety of options to those who want to withdraw/buy/withdraw crypto or deposit fiat.

The lowest EURO Credit Card purchase fee among all exchanges, and no transaction fees on USD deposits!

Phemex
Payment methods to buy crypto

Phemex is partnered with a number of third-party providers for crypto purchases. These include credit/debit cards, UnionPay (bank transfer), Apple Pay, Bpay, PayId, and Sofort.

does phemex require KYC ?

It is not required, but Phemex allows traders to deposit and withdraw funds without KYC verification. Users may need to undergo KYC verification to purchase crypto.

phemex welcome bonus Upto $8800

Phemex offers a variety of promotional encouragements to encourage user adoption. Phemex offers new users a welcome bonus of up to $8000.

Read more about the phemex signing bonus here.

The exchange also offers a Learn and Earn Program that rewards you with cryptos for viewing educational content and answering quizzes.
The exchange also offers many bonuses for referring friends.

final score to consider phemex

  • Services offered: 4.2/5
  • Fees: 4.3/5
  • Security: 4/5
  • Cryptocurrency support: 5/5
  • Review Score: 4.5/5

phemex review - Conclusion

Phemex is a good exchange, and it offers some unique features, such as Market Maker Rewards and Sub Accounts. It also provides up to 100 times on trading contracts and a welcome bonus of up to $8800.

We think it is worth a shot. Please let us know about your experience with Phemex Exchange.

You may have found some issues with the services. Or could some services be improved? Please let us know.

This is the end of this post. I hope you found this article helpful. This article does not provide financial advice. Consult your financial advisor before making any financial decisions.

fAQ's of phemex exchange review

is phemex exchange regulated?

No, Phemex Exchange is not regulated by any Government Authority.

Can United states Citizens use Phemex?

Phemex Exchange is not available to residents and citizens of the USA.

is phemex safe to use?

Yes,Safe. Multiple Signatures secure this cold storage. 

is phemex a popular exchange?

Phemex has been a popular exchange for crypto derivatives and is consistently ranked in the top 10.

Phemex, according to the data on its platform, has over 5 million active users.

Leave a Comment