Phemex review

Across the exchanges compared here, taker fees sit at 0.2%, and most of the wider site picture runs 0.1% to 0.6%. Costs are set per trade, so read the taker fee on each pair before you trade, and remember that derivatives carry their own funding charges.

Yes, Phemex publishes proof of reserves, which sets out the assets held against customer balances. That is a transparency step many custodial platforms leave out, though it is not the same as a guarantee. custodial and staking confirms the account is custodial, so the exchange holds the coins rather than you holding the keys.

Phemex is a centralised exchange rather than a decentralised one: cex. You hold a balance with the exchange and trades settle on its books, not directly on chain, which keeps deposits and withdrawals straightforward and puts custody with the platform.

Phemex lists 148 coins, above the 71.5 typical across the exchanges compared here, and it ranks 71 of 176 on coins listed. Breadth is adequate for active trading, but it is a shorter list than some rivals, so check your intended pairs before opening an account.

Funding runs through card, bank and sepa, so a card, a bank transfer or SEPA covers most people, with SEPA suiting steadier, larger transfers. Deposits land in your exchange balance, and because custodial and staking confirms custody sits with the exchange, your money is held there until you trade it.

Support runs on email, help centre and community, meaning email, a help centre and community channels, and that is the full list. There is no phone line or live chat, so anything time-sensitive, a stuck withdrawal or a locked account, is likely to take longer to resolve than at an exchange with live chat support.

Yes on both. Phemex offers derivatives as well as spot, and custodial and staking shows a custodial account with staking, so coins held on the balance can earn a return. Derivative positions can magnify losses quickly, so treat leveraged trading as a separate decision from simply buying and holding.

The median retail loss across the products compared here is 70.15%, with most accounts losing 65.75% to 74.5%. Phemex adds platform risk to that market risk because it is custodial. Only commit what you could afford to lose.