Phemex Overview 2025: Safe Crypto Change for Merchants

The cryptocurrency trade is quickly altering and rising. New platforms and exchanges appear to come back and go sooner than my monetary advisor rolls his eyes after I inform him that I’m shopping for extra Bitcoin once more. 

Wading by way of lots of of crypto exchanges might be troublesome; many crypto merchants are in search of the subsequent finest up-and-coming and safe trade, which is probably going what introduced you to this text at the moment. This Phemex trade overview will cowl every part you should know in regards to the platform and make it easier to determine if this cryptocurrency trade is best for you.

Phemex TL; DR

Strong, regulated trade with good safety for these in search of a spot to commerce crypto with as much as 100x leverage. Copy buying and selling and contests present profitable incentives for severe merchants.

Phemex Key Options at a Look:

• Versatile earn platform
• Good buyer help
• Copy buying and selling & buying and selling contests
• Fast help for small-cap altcoins
• Excessive-performance transactions and order execution
• Nice platform for newbies as there may be entry to simulation/follow accounts and the free Phemex Academy + lots of of blogs and articles to show crypto and buying and selling

Signup at Phemex!

If you’re on the search to seek out the right crypto trade, be sure you try our article the place we break down and examine the High Crypto Exchanges.

Phemex Abstract:

Overview: What’s Phemex

Phemex stands out as greater than a typical cryptocurrency buying and selling platform. It not solely facilitates buying and selling but additionally gives distinctive options like copy buying and selling and aggressive buying and selling contests. Moreover, it consists of a lovely 'earn' platform for passive earnings, all built-in right into a extremely environment friendly and professional-grade buying and selling system. This positions Phemex as an more and more well-liked vacation spot for cryptocurrency merchants.

The Phemex trade has a reasonably complete roster of helpful options and features outdoors of straightforward crypto spot and derivatives buying and selling, all of which we’ll dive into all through this overview. For you historical past nerds on the market, you could discover it fascinating to study that Phemex was named after the Greek Goddess of fame and fortune, Pheme.

This trade is without doubt one of the newcomers to the house. Based on the finish of 2019, it’s already trying fairly spectacular with every part it has achieved in such a brief time period. In fact, some issues nonetheless want constructing out and bettering, which I’ll cowl as properly.

The platform has already attracted over 5 million customers globally and has a wholesome 24-hour buying and selling quantity of over $253 million as of November 2025. 

Phemex is situated and registered in Singapore and is owned by Phemex Pte. Ltd. Their challenge values are properly thought out, and the workforce has a noble mission which is value mentioning right here. I’ll paraphrase the corporate objectives:

1. Embrace Change– Unpredictability has develop into the brand new regular. Solely by always adapting can the corporate emerge stronger from each main shift.
2. Act Swiftly– The mission fuels the workforce with objective, and the imaginative and prescient evokes them to execute relentlessly. To offer the perfect expertise, they are going to transfer ahead with boldness and haste, as a result of the consumer’s triumphs are their final motivation.
3. Empower People– By constructing a good buying and selling atmosphere and offering superior asset administration instruments, Phemex permits everybody to successfully handle their danger. Their success is mirrored in every dealer’s success.
4. Keep Humble– Phemex understands that previous triumphs should be tempered by sustaining humility and listening to all views. Continuously re-evaluating and bettering themselves, they are going to step in the direction of final victory.

Properly, hey, that sounds fairly good to me. I can get on board with that 🙌

Necessary Word: For those who doing all of your homework and analysis on Phemex, you could be a bit confused as I used to be as a result of almost each different overview and website about Phemex claims that they’re unregulated trade, and I’m saying they’re regulated, so, what provides?

Regulation is a crucial consideration for myself, and lots of merchants.  I really feel Phemex might do a greater job highlighting these particulars on their web site as there may be a variety of out-of-date info circulating. I reached out to their compliance workforce and dug up their official MSB registration with FinCEN to confirm that Phemex is regulated by FinCEN. Moreover, they’ve additionally partnered with one other FinCEN-regulated cash transmitter providers platform known as Legend Buying and selling, and as for licenses, the positioning merely states that they maintain “multiple state licenses.”

The platform was based by a workforce made up of people who’ve many years of earlier expertise working with banking big Morgan Stanley, in addition to some old-school Bitcoin miners, offering the workforce with a fantastic mix of expertise from TradFi and Blockchain.

Phemex is accessible in most international locations around the globe, together with the US. I’ll level out that it has fairly a big listing of restricted international locations, extra than simply sanctioned international locations as is the case with many exchanges. I’m not positive in regards to the causes, however you will discover a full listing of supported and restricted international locations on the Phemex Phrases and Circumstances web page.

Transfer towards decentralization

Aligning with its dedication to adapt and evolve, Phemex is transitioning to a hybrid mannequin that blends centralized and decentralized parts. It retains the core options of a centralized trade (CEX), resembling strong safety, user-friendly onboarding, substantial liquidity, and devoted buyer help. Concurrently, it's integrating decentralized options, together with governance by way of PhemexDAO, on-chain staking with rewards, and a decentralized lending protocol.

To that impact, the corporate is utilizing soulbound token (SBT) expertise, a publicly verifiable and non-transferable token on the blockchain. The Phemex Soul Go (PSP) is an ERC-20 soulbound token. As soon as a consumer mints it, it’s theirs eternally and can’t be transferred to a different pockets. The metadata on the PSP can monitor customers’ buying and selling exercise, PhemexDAO participation and numerous actions on the platform. That is good for customers as a result of it’ll qualify them for privileges and occasions that non-PSP holders can not entry.

To mint the Phemex Soul Go, a consumer should meet a sure buying and selling threshold. Up to now, this threshold was a buying and selling quantity of at the least $100,000 on Phemex within the final 30 days. Nonetheless, this threshold has been lowered considerably to $10,000.

There's at the moment a pre-mining occasion happening. xPT serves as a pre-mint token that may be earned throughout the occasion from April 12 by way of Sept. 30, 2023. It’s mirrored as metadata on the Phemex Soul Go, and may solely be obtained by PSP holders. A complete of 100 million xPT can be found to be mined throughout the pre-mining occasion, and xPT will probably be routinely transformed into on-chain Phemex Token throughout the token technology occasion within the third quarter.

Phemex Token

The Phemex Token, an ERC-20 utility token, operates on the blockchain and is transferable. It serves because the cornerstone of the Phemex platform. Customers can stake this token to amass vePT, which confers a number of benefits, together with a job in decentralized governance, rewards for staking, enhanced buying and selling rewards, lowered buying and selling charges, and numerous different perks.

Listed below are just a few information:

Complete provide: 1 billion PT
The right way to purchase: Convertible from xPT; might be bought on the open market, might be earned as a buying and selling reward
Transferability: PT might be transferred freely on the Ethereum blockchain
Staking: Stake PT to get vePT for governance rights and staking yield
Usability: Can be utilized to pay for buying and selling charges, deposit and withdrawal charges, and gasoline charges on Phemex. Will also be traded or staked.

Phemex Change Key Options

I already talked about there may be a variety of outdated info on-line about Phemex. It's value noting that the platform has been constructing and increasing at a formidable fee, leading to most of the critiques and articles solely portray half the image. Some older critiques of the platform aren’t overly constructive, so it’s nice to see Phemex enhance significantly and develop into what many now contemplate to be a reasonably darn good trade.

Phemex has fully overhauled its cellular buying and selling app, added a bucket load of latest belongings, and added new features and options.

Phemex Spot Buying and selling

Buying and selling on Phemex will probably be acquainted to anybody who has ever used a buying and selling platform earlier than. The platform follows the usual modular design strategy for the buying and selling display screen, just like different crypto exchanges, and leverages the massively well-liked and highly effective TradingView charting interface. This makes Phemex buying and selling appropriate for merchants of all ability ranges, and the platform able to assembly the wants of probably the most hardcore technical evaluation dealer.

Due to TradingView, all the usual buying and selling instruments can be found and conveniently accessible straight from the Phemex buying and selling display screen. That's an enormous bonus. The variety of indicators are limitless and the display screen modulars are extremely customizable.

Anybody aware of buying and selling could have no points navigating or using the buying and selling interface on Phemex, although new customers could discover it a bit overwhelming. Phemex helps demo buying and selling and has a formidable study & academy part for brand new merchants, making Phemex a fantastic place for newbies to study the ropes earlier than throwing stay funds down.

As for the buying and selling engine, the buying and selling platform is powered by the CrossEngine, and TradingEngine, and features by matching consumer orders primarily based on value and time precedence. Their CrossEngine is designed to deal with 300,000 transactions per part with an execution time of beneath 1 millisecond.

The next commerce orders can be found:

• Market orders – Immediately executed and stuffed at the perfect market value
• Restrict orders – Immediate execution if the value reaches the set worth. Customers can select the tactic of execution: GoodTillCancelled (GTC), ImmediateOrCancel (IOC), or FillOrKill (FOK)
• Conditional orders – These are just like restrict orders, besides merchants can set a set off value.

The 250+ spot buying and selling pairs needs to be sufficient for many merchants, however in case you are somebody who desires to purchase and commerce the smallest cap and hardest-to-find altcoins, the three high exchanges for altcoin help are KuCoin, Gate.io, and Binance.

Margin/leverage buying and selling shouldn’t be supported on Phemex for the spot buying and selling market.

If you need to study extra about learn how to commerce or brush up in your technical evaluation expertise, I like to recommend our article on The right way to Carry out Technical Evaluation, or in case you choose video format, Man has put collectively a 3 half sequence on learn how to carry out TA, half one might be discovered under:

Phemex Derivatives Buying and selling

Phemex has develop into a well-liked platform for derivatives merchants and helps 150+ USD-M and Coin-M perpetual contracts, with USDC Perpetual contracts coming quickly.

Merchants can entry as much as 100x leverage when buying and selling contracts, and as with spot buying and selling, the charting interface is powered by TradingView.

Merchants can choose the order varieties:

• Restrict
• Market
• Conditional

With the next superior settings accessible:

• Scale back-only– Scale back solely order will solely cut back the dealer’s place, not enhance it.
• Publish-only– Publish-only orders won’t execute instantly, and are used to make sure a Marker Rebate.
• Bracket Order- Bracket orders are designed to assist restrict a dealer’s loss and lock in revenue by “bracketing” an order with two reverse facet orders.
• Good til Cancelled (GTC)– These orders stay open till they’re stuffed, or the consumer manually cancels them. Dealer’s can choose IOC, which is the place a portion of the order will probably be instantly stuffed at goal value, and the portion that can’t be stuffed is cancelled, or FOK, which tells the total order to be stuffed instantly on the goal value, or it is going to be cancelled.

The platform additionally exhibits a useful little ping monitor on the underside left-hand nook which exhibits the pace at which your connection is at the moment sending and receiving information. All the data talked about above might be discovered within the highlighted areas under:

To sum up the derivatives buying and selling platform, it’s clear that it is a well-designed and professional-grade buying and selling platform. The one draw back is there aren’t as many tradable contracts as might be discovered on different platforms resembling Binance, Bitget or Gate.io, however they’re constantly including new markets.

Warning ⚠️: Buying and selling with leverage is extraordinarily excessive danger and is a software finest utilized by professionals. The Coin Bureau doesn’t suggest utilizing excessive leverage. Be sure you absolutely perceive the dangers of leverage earlier than using the function.

Phemex Sub-Accounts

Sub-accounts are a reasonably distinctive function not supported by many crypto exchanges however have gotten more and more well-liked amongst quantitative merchants. You possibly can setup Sub-accounts inside an present account and it supplies merchants with the choice of holding each quick and lengthy positions. You possibly can separate sub-accounts for issues like hedging positions, utilizing buying and selling bots, or isolating and testing totally different buying and selling methods.

The principle account and all sub-accounts might be accessed and managed on the identical display screen and every sub-account might be drilled into to see information and statistics in regards to the buying and selling historical past that occurred inside that sub-account.

Phemex helps the creation of as much as 20 sub-accounts.

Phemex Earn

Phemex supplies just a few methods to earn curiosity on the crypto held on the platform. The primary is the Versatile Financial savings product, which permits customers to earn curiosity on their crypto with none lock-in intervals. The financial savings charges vary from 0.3% to 2% and belongings like BTC, ETH, SOL and stablecoins are supported. There are at the moment 11 belongings supported which is fairly good when in comparison with many platforms.

The second choice are the Mounted Financial savings Accounts, which permit customers to earn increased quantities of curiosity, however the funds have to be locked in for the desired phrases. The APYs on the mounted accounts additionally rank fairly excessive when in comparison with different platforms, with APYs starting from 0.5% to eight.80%, and lock-in intervals of both 7 or 14 days, making this one of many extra versatile platforms to earn passive earnings in your HODL stash.

The Phemex Launchpool is the third approach for patrons to earn passive earnings on their funds. This function selects tokens and initiatives that provide a better APY than regular staking, whereas additionally permitting customers to find new initiatives and earn increased returns on their tokens.

Here’s a take a look at among the present and previous Launchpool campaigns, with some APYs as excessive as a whopping 493%. Not too shabby.

The length, rewards, and accessible strategies of staking in these swimming pools fluctuate for every token marketing campaign. If incomes passive earnings in your crypto is a crucial function for you, I might suggest testing Binance as they provide probably the most complete earn platform, or OKcoin, which supplies among the highest charges accessible with out taking up ridiculous quantities of danger.

High Dealer Competitors

Gamification of buying and selling has develop into well-liked on many crypto trade websites. Platforms like Binance and KuCoin have created a “Vegas-style” space on the platform the place merchants can compete with each other or be part of buying and selling contests to earn additional winnings and prizes.

Phemex is making an attractive entry into the world of aggressive buying and selling. The platform runs a number of workforce and solo buying and selling contests to get merchants engaged and actively compete in opposition to different merchants to win crypto and unique prizes.

The latest marketing campaign offered the highest 3 merchants who had the best PNL with a $500 bonus, an additional 20% fee from any merchants who copy their trades, and Phemex pumped their social media publicity and dealer profiles on the platform. That might result in a significantly profitable buying and selling profession for any merchants who can show to be sustainably worthwhile.

Merchants who rank 4th-Fiftieth acquired a $100 bonus. Buying and selling contests have gotten fairly well-liked on many buying and selling websites for individuals who are severe about buying and selling and wish to earn some additional incentives.

Phemex Copy Buying and selling

Copy buying and selling is one other well-liked function now supported on exchanges like Gate.io and Bitget. Copy buying and selling is a good way for merchants to earn passive earnings and supplies the next advantages for each skilled and new merchants:

• Newbie merchants who’re studying the craft can examine the trades and study from extra skilled merchants whereas incomes an earnings. Virtually like an apprentice would study from an skilled craftsman.
• Skilled merchants who desire a facet earnings. There are too many belongings for one individual to commerce and extra charts than one individual can watch, why not share the workload?
• Merchants seeking to diversify. If a dealer has studied Bitcoin and is an knowledgeable in Bitcoin buying and selling, they’ll give attention to that and discover a dealer who makes a speciality of Ethereum’s habits, tendencies, and value actions and duplicate their ETH trades.
• Skilled merchants can share their methods and earn a revenue from their followers. As they’re buying and selling anyway, why not earn the additional earnings by permitting others to repeat you?
• Merchants who’re simply in search of simple hands-off earnings can simply sit again and duplicate the professionals.

The copy buying and selling space permits merchants to kind by way of and take a look at the merchants on the platform accessible to repeat. Every dealer profile exhibits necessary metrics like the overall P&L, month-to-month ROI and Month-to-month P&L.

Tip: Don’t simply choose the dealer with the best ROI, as a result of the extra necessary metric is longevity. Any skilled dealer will inform you that buying and selling is a marathon, not a dash, and anybody can have a fortunate streak and win some huge trades, displaying a excessive ROI. I'm in search of a dealer who can obtain a sustainable constructive fee of return that’s real looking, wholesome, and over an extended time period.

On Phemex, an skilled dealer can broadcast their trades and different merchants can determine whether or not they want to open the identical place, or the automated buying and selling system can carry out the motion on their behalf for a very passive operation.

Skilled merchants who supply their trades to be copied can earn incentives resembling:

• Additional commissions
• Follower development – Phemex helps you acquire visitors
• VIP providers, vacation presents, unique prizes, and particular CS help
• Others can copy your trades and also you earn extra earnings from their income
• Huge particular person publicity by way of our platform’s social media, bulletins, and particular promotions

Phemex Cellular App

The Phemex cellular software is designed for merchants preferring managing their portfolios from their smartphones. The app mirrors a lot of the performance accessible on the desktop platform, making certain a seamless buying and selling expertise. It options an intuitive consumer interface, making it accessible for each novice and skilled merchants. Customers can have interaction in spot and derivatives buying and selling, entry their earn accounts, and even take part in buying and selling contests straight from the app. The current updates to the app have targeted on enhancing safety features, bettering the pace and responsiveness of the buying and selling engine, and integrating extra instruments for technical evaluation. With excessive rankings on each Android and iOS platforms, the Phemex cellular app is a strong choice for merchants who must make fast selections and commerce on the transfer. Nonetheless, it's necessary to notice that whereas handy, cellular buying and selling needs to be approached with warning, because the smaller display screen and on-the-go nature can typically result in hasty buying and selling selections.

I discovered the app user-friendly with a fantastic UI/UX. Total, it’s a nice crypto buying and selling app expertise. The vast majority of what might be executed on the net platform is supported on the app, and the current app overhaul and replace has been met with constructive critiques from customers. The vast majority of Phemex App customers share my sentiment with a formidable 4.7/5-star score on Android and a 4.5/5-star score on IOS on over 15k critiques throughout each platforms.

Though the app has nice rankings and I couldn't discover fault with it, most merchants, myself included, wouldn’t suggest utilizing a cellular app as your main buying and selling software. It's a recipe for catastrophe, because it feels extra like a recreation than skilled buying and selling. I am going into additional element on why this isn’t really helpful in my Coinbase Overview so that you can try earlier than you assume you may develop into a professional dealer merely from a cellular app. You can too learn the in-depth information to crypto buying and selling psychology and study why mastering your feelings will make you a greater dealer.

Phemex Charges

Charges on Phemex are fairly aggressive and consistent with comparable platforms like Bybit and BitMEX. Phemex makes use of a tiered construction primarily based on a dealer’s 30-day buying and selling quantity to find out the maker and taker charges.

Listed below are the Phemex charges for spot buying and selling:

The maker/taker charges for buying and selling contracts are the next:

The charges for crypto withdrawals fluctuate vastly relying on the asset and community of alternative, you may test them out right here. 

To buy crypto, customers have a number of choices to select from. These embody utilizing credit score or debit playing cards, Apple Pay, financial institution transfers, or third-party cost suppliers.

Phemex makes use of the identical third-party buy suppliers as many different platforms, resembling MoonPay, Advcash, Banxa, Simplex, Coinify, Mercuryo, and others. Phrase of warning right here that though shopping for crypto along with your debit/bank card may be very handy, that comfort comes within the type of excessive charges. When using one in all these cost gateways, charges can hit as excessive as 8% which is quite a bit. These charges aren’t decided by Phemex, or no matter trade you select, these are decided by the cost suppliers.

It's at all times really helpful to make use of financial institution transfers if you wish to save on charges and discover an trade that provides fee-free financial institution transfers like Binance, Kraken, or many others

Phemex KYC and Account Verification

Phemex now requires KYC verification for all customers who want to deposit, withdraw, or commerce crypto. Whereas KYC was beforehand elective, it’s now obligatory to make sure compliance with regulatory requirements and improve platform safety.

The registration on Phemex remains to be fairly simple, and customers can join by following these 4 easy steps:

1. Join on the official website.
    
2. Present an electronic mail tackle together with a password. Use an actual electronic mail tackle as you will want to confirm it.
    
3. Click on the hyperlink despatched to your electronic mail to confirm your account.
    
4. Arrange your account, allow the really helpful safety features, and luxuriate in buying and selling.
    

If you wish to know learn how to confirm your account on Phemex, you will want to observe these 12 steps:

1. Entry KYC Verification: After logging in, navigate to the "Account" part and choose “Identity Verification.”
    
2. Begin Verification: Click on on "Verify Now" to provoke the KYC course of.
    
3. Choose Nation and ID Sort: Select your nation of residence and the kind of government-issued ID you’ll present (e.g., passport, driver's license).
    
4. Add ID Doc: Use your machine's digicam to seize clear pictures of the required ID doc, making certain all particulars are legible.
    
5. Face Verification: Observe the on-screen directions to finish the facial recognition step, which can contain taking a selfie or performing particular actions.
    
6. Submit for Overview: After finishing the steps, submit your info for verification.

As soon as accredited, your account could have full entry to Phemex's providers, together with deposits, withdrawals, and buying and selling.

Phemex Safety

Phemex follows trade finest practices with the funds held on the platform and have some fairly strong protocols in place.

The vast majority of funds are saved offline in chilly storage, and a number of signatures are required to entry them. Phemex makes use of what is named a Deterministic Chilly Pockets System that assigns totally different chilly pockets deposit addresses to every consumer, rising the safety of buyer funds.

An fascinating safety protocol that I’ve not come throughout earlier than is that Phemex solely processes withdrawals 3 occasions per day, and every request makes use of subtle danger management measures to detect malicious actions or suspicious transactions. Every withdrawal request is processed through offline signatures, that means belongings stay in a chilly storage atmosphere.

The platform is additional secured with SSL expertise and makes use of PCI scanning.

Phemex additionally has an insurance coverage fund for open trades and an Auto-Deleveraging Function. The insurance coverage fund alleviates unfilled liquidation orders on the platform earlier than they’re taken over by the auto-deleveraging system. This ensures that profitable merchants will obtain all their anticipated income, even when the dropping dealer doesn’t have sufficient to cowl the profitable get together’s features.

This helps to cut back the danger of socialized loss by routinely reducing a dealer’s leverage in case of sharp value modifications, and helps to additional cut back the danger of a cascade of margin calls and mass liquidation occasions.

From a consumer perspective, clients can make the most of the next safety features:

• 2FA
• Password
• System Codes
• Anti-phishing

One factor I want to see from Phemex is the publication of some third-party safety audits. Many platforms publish safety audit outcomes, and associate with safety corporations who conduct common penetration testing. I might sleep higher at night time realizing {that a} safety workforce was going over their safety methods with a fine-toothed comb.

Whereas there may be insurance coverage in place to cowl open trades, many exchanges additionally supply some kind of insurance coverage or set funds apart to reimburse clients within the unlucky case of a profitable hack. I couldn’t discover any details about this on the positioning and the help workforce didn’t appear conscious of any such measures in place.

My remaining criticism by way of safety is the shortage of safety features supported from a consumer perspective. Not supporting issues like whitelisted addresses or whitelisted IP addresses is a bit disappointing, I hope to see these options supported quickly. 

Cryptocurrencies accessible on Phemex

Phemex at the moment helps over 350 cryptocurrencies, together with the majors like Bitcoin, Ethereum, Ripple, Solana, Avalanche and extra, whereas additionally supporting many smaller cap cash.

You’ll find a full listing on the Phemex Markets Web page.

Phemex Change Design and Usability

The platform navigation is clear-cut and intuitive, with the UI/UX being simple to navigate with easy to make use of dropdown menus. Excluding the buying and selling interface, the remainder of the platform options are very beginner-friendly, and the design of the platform is simple on the eyes. You aren’t more likely to end up misplaced wandering round totally different pages and areas of the positioning, which is a matter I point out in my Huobi International overview.

For the buying and selling interface, as talked about within the buying and selling part, the combination with TradingView implies that this platform is appropriate for newbie {and professional} merchants. Merchants can carry out all their charting and order inserting on one handy display screen.

The buying and selling interface is extremely customizable, and every block might be moved round and resized to suit your desire by clicking the underside right-hand nook of every block, and additional customization settings might be discovered by choosing the highlighted icons as seen right here:

For customers in search of a fantastic newbie platform for extra easy buying and selling or just shopping for and holding, I like to recommend Kraken or SwissBorg as my high picks for secure platforms which are nice for newcomers who don’t want superior charting and buying and selling screens.

Deposits and Withdrawals at Phemex

Phemex has just a few totally different choices for customers who wish to purchase crypto, deposit or withdraw crypto, or deposit or withdraw fiat.

As for buying, as talked about within the charges part, Phemex has partnered with a number of third-party cost suppliers to supply crypto purchases through credit score/debit card, Union Pay, Financial institution Switch, SEPA, Apple Pay, POLi, Bpay, PayId, IDEAL, and Sofort.

Depositing and withdrawing crypto is kind of commonplace and will probably be acquainted to anybody who has made a crypto transaction earlier than. Merely navigate to the belongings part to seek out all of your crypto receiving addresses to ship your crypto to your Phemex account.

Phemex additionally has a p2p market the place customers should purchase USDT, BTC, and ETH from different members on the platform.

Phemex Buyer Assist

Now we get into the all-important subject of buyer help. Too many merchants contemplate good help as an afterthought, a grave mistake in my view. The worst time to understand {that a} platform has horrible help is when you’ve an open commerce and face a problem that must be resolved ASAP. Entry to quick help might be the distinction between dropping a bit or dropping your complete buying and selling account if no help members can come to the rescue in time.

Due to that, each time I conduct trade critiques, I prefer to totally check their help and by no means imagine any platform once they declare to have good help. Virtually each trade guarantees good help, and most of them fall quick. You need to try my KuCoin overview if you’d like a humorous story of what really deplorable buyer help seems like, my findings have been fairly stunning.

So, how does Phemex help measure up?

Truthfully, fairly rattling good… KuCoin might study a factor or two. I don’t typically have excessive expectations for good help when reviewing exchanges outdoors the highest ten, possibly I bought fortunate, however over the span of three days, the Phemex help nailed each check I threw at them. Clearly, I conduct these exams incognito, pretending to be a buyer who wants assist so that they have no idea it’s for a overview.

Phemex supplies help through their Assist Middle, which is properly populated with articles and guides and fairly useful. My solely criticism right here could be that it could be good to have extra step-by-step guides, pictures, and tutorials, particularly for these which are new and seeking to discover ways to commerce. 

The help workforce is obtainable through electronic mail, stay chat, and the Telegram group will also be fairly useful.

Right here have been my findings after I examined their help:

Over 3 days I contacted their chat help a number of occasions, spreading the messages out within the early morning, afternoon, and late at night time. I contacted them over ten occasions utilizing totally different names, IP addresses, and electronic mail addresses, feeling like that annoying buyer that everybody hates. I used to be very impressed that each single time I used to be linked to a stay agent in beneath 1 minute. Fairly spectacular, certainly.

A lot of my requests wanted to be escalated to their electronic mail workforce, and I additionally reached out to their electronic mail workforce with out immediate from the stay chat, every time I acquired an electronic mail response in beneath half an hour. The standard of help was additionally actually good, all of the brokers had a great understanding of the platform and merchandise provided. Critical kudos to the Phemex help workforce 🔥

Phemex additionally deserves a shout-out for his or her excellent job with the Phemex Academy, and the lots of of weblog posts and articles that prioritize crypto schooling.

It’s nice to see platforms that care in regards to the trade sufficient to exit of their approach to supply schooling. The Phemex Academy is a superb place to discover ways to commerce, or simply brush up on common crypto data. The content material right here is well-written and of top of the range.

Phemex High Advantages Reviewed

The buying and selling engine utilized by Phemex is among the many finest accessible, appropriate for establishments and retail merchants. It’s extremely environment friendly and able to dealing with giant orders and buying and selling volumes. The engaging copy buying and selling and profitable buying and selling contests are a well-liked attraction, bringing many severe {and professional} merchants to the platform, whereas additionally offering a formidable variety of assets and help to draw newbie merchants seeking to study the craft.

What might be Improved

There are a restricted variety of contracts accessible for buying and selling in the intervening time, however there are plans so as to add new derivatives merchandise quickly. The Earn and Launchpad platforms will even have to be expanded with extra choices and energetic campaigns if Phemex desires to compete with among the extra fully-featured and strong platforms.

Phemex Overview Conclusion

Phemex is clearly motivated and dealing onerous to develop into a family title for crypto exchanges, seeking to play on the highest of the mountain with the opposite main gamers within the house.

Since changing into regulated and touchdown within the US market, the platform has executed a formidable job increasing and rolling out new options and features. The platform is rising in reputation and adoption amongst severe merchants for a great cause with the profitable copy buying and selling and contests and highly effective buying and selling engine. Whereas the platform remains to be younger and has some rising to do by way of product and market choices, if they’ll proceed their present growth and trajectory, I might not be shocked to see Phemex place firmly as a high ten trade.

See our Coinbase overview to study extra in regards to the platform.

Steadily Requested Questions

What’s Phemex?

Phemex is a cryptocurrency trade used to purchase and commerce cryptocurrencies, providing each spot and derivatives buying and selling. There are additionally well-liked options supported on the platform resembling Earn and Copy Buying and selling. Phemex is situated in Singapore, was established in 2019, and is a regulated and respected buying and selling platform.

Is Phemex Legit?

Phemex is secure and a professional cryptocurrency platform. They’re registered as a Cash Companies Enterprise with FinCEN and legally function in all of the jurisdictions during which they’re supported.

The workforce behind the platform have over 40 years of mixed expertise with 8 former Morgan Stanley executives on the workforce, together with many workforce members with background and expertise in Blockchain.

Can I exploit Phemex within the USA?

Sure, Phemex is FinCEN registered and accessible within the US.

Is Phemex good for newbies?

Whereas the superior buying and selling ideas and options of the platform are higher suited to skilled merchants, Phemex is a superb place for newbies seeking to discover ways to commerce because of their free Phemex Academy and lots of of weblog posts and articles that educate every part from crypto 101 to superior buying and selling. The platform additionally gives demo accounts to follow buying and selling risk-free.

Is Phemex higher than Binance?

As Binance is the #1 trade on the planet, Phemex shouldn’t be higher than Binance. Binance is the popular platform by most merchants as a result of its complete, strong options and choices. See our Binance overview to study extra in regards to the platform.

Is Phemex higher than Coinbase?

Coinbase is without doubt one of the finest exchanges for newbies and is a extra user-friendly place to easily purchase and retailer crypto. Phemex is best than Coinbase for these seeking to commerce futures, copy commerce, and entry earn options.