Bottom Line
Phemex is a robust cryptocurrency derivatives exchange offering low fees, 100x leverage, and advanced trading tools. While ideal for experienced traders, its demo account and educational resources make it accessible for beginners. However, it lacks staking options and isn't available in the US.
Key Features
- Trading Fees: 0.1% (spot), 0.06% / 0.01% (futures)
- Supported Cryptos: 330+ (BTC, ETH, XRP, etc.)
- Leverage: Up to 100x
- Promotion: Up to $6,050 sign-up bonus
How We Rated Phemex
| Criteria | Rating (5/5) |
|-----------------------|-------------|
| Features | 4.6 |
| Fees | 4.6 |
| Ease of Use | 4.2 |
| Security | 3.5 |
Pros & Cons
Pros
- No KYC: Trade anonymously.
- High Leverage: Up to 100x on futures.
- Phemex Earn: Earn up to 10% APY on idle crypto.
Cons
- No US Access: Restricted for US/UK users.
- Limited Staking: Only supports native PT token staking.
Phemex Exchange Overview
Founded in 2019, Phemex is a Singapore-based crypto derivatives platform led by ex-Morgan Stanley executives. It boasts:
- 5M+ users across 200 countries.
- 300K TPS execution speed.
- 100x leverage on perpetual contracts.
Top Features
1. Derivatives Trading
- Trade BTC, ETH, XRP with up to 100x leverage.
- Advanced order types (Limit, Market, Conditional).
2. Sub-Accounts
- Manage up to 20 sub-accounts under one main wallet.
3. Phemex Earn
- Earn up to 10% APY on 13+ assets (e.g., ETH, SOL).
4. Web3 Integration
- Lending Protocol: Borrow crypto with collateral.
- Upcoming: DAO governance and AMM protocols.
Fees Comparison
| Exchange | Spot Fee | Futures Fee |
|--------------|----------|-------------|
| Phemex | 0.1% | 0.01%/0.06% |
| Binance | 0.1% | 0.02%/0.04% |
Mobile App
- Rating: 4.7/5 (18K+ reviews).
- Features: Spot/futures trading, Phemex Earn.
Security
- Cold Storage: 100% funds offline.
- 2FA & Multi-Sig withdrawals.
- No hacks since 2019.
FAQs
1. Is Phemex available in the US?
No. US/UK residents are restricted.
2. What’s the minimum spot fee?
0.1% for spot trades.
3. Does Phemex support staking?
Only for its native PT token.
4. How fast is order execution?
Under 1 millisecond.
Final Thoughts
Phemex excels with low fees, high leverage, and strong security, though its staking and US access limitations are drawbacks. Ideal for derivatives traders seeking a no-KYC platform.
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