Phemex is the fastest Bitcoin futures trading platform, founded by 8 Ex-Morgan Stanley Executives. No overload, no downtime. We provide 24/7 hours customer service support.
Phemex (phemex.com) has a 2.1 out of 5 rating on OK.one, based on 217 user reviews collected here. It is listed under Money & Insurance and its reputation is poor. 68% of reviews are 1 star, a relatively high share; The business has replied to 78% of negative reviews; 29 of them were added in the last 12 months. Last updated 2026-10-24.
Not bad exchange. I love their promos!
Hi there, Thank you for your review! We’re glad to hear you’re enjoying our promos. If you ever have any questions or need assistance, feel free to reach out to us at [email protected]. Happy trading! The Phemex Team
In the time since I wrote the following review my account has been restored and have received 40 USD. The rest...you decide... I tried it out. Used the 10 USD bonus. Even made a few withdrawals. But in the end they said I tried to get the bonus again and closed my account I'm still waiting for the rest of my BTC to be returned to me. They told me it would be the end of the next quarter but I haven't seen anything. First of all why would I even have the option to click on a stupid 10 USD bonus for a second time and 2 where is my money. This is outright theft. DO NOT USE THIS EXCHANGE! Only thing they excha get is your money to their money.
Dear Brian Oliver, apologies for the bad experience, our system deploys multiple security measures to avoid bonus farming with multiaccount. It is forbidden to create multiple accounts for multiple bonuses https://phemex.com/announcements/new-welcome-bonus-and-restrictions. If our system detects accounts with the same IP Address or GUIDs, all offending accounts will immediately be frozen and banned. Sadly there could be a false positive if you share wifi (in a cybercafe for example). We are glad you got your funds back and hope to see you soon again. If you have any remaining questions, please don´t hesitate to contact us directly at www.phemex.com. We are here 24/7 to support you. Kind regards, Team Phemex
Unstable platform and support can't (won't) solve my case and play for time! Phemex is extremely unstable every time during turbulent markets or times. This means that the platform often hangs for a long time and you cannot act quickly enough in critical situations. The result: LOSSES! The support is friendly but not really solution-oriented! I closed a trade with a profit, but the profit was not credited to the PNL and balance. I have now written the support 3 times and after each cover letter I am just delayed and empty promises are made. But the case was not solved! I've been waiting several weeks but still haven't received a credit. In my eyes, Phemex is dubious and suggests SCAM and fraud. In the meantime I have left this platform and will delete the account there. I'm going back to bybit.com ADDENDUM 1.12.2021: In the meantime, the support has actually contacted me again. I still haven't received the missing amount, but at least part of it has been given to me in the form of a bonus. Better than nothing. I started trading on phemex again, but initially only with very small amounts. I do bigger trades at bybit.com. So Phemex will use the small amounts to monitor whether there are still unstable situations, especially when the market is highly volatile. If Phemex proves to be stable in the future, then I will also trade larger positions. So I'm increasing my rating from 2 to 3 stars for the current status.
Dear FG, if you experience any issues with phemex website, you might wanna use chrome browser. Phemex is optimized for chrome browser and you will have with chrome the best user experience. Might also be a good idea to set your stop losses and take profits directly at the beginning when your open a trade. Cryptocurrency is very volatile and risk management is very important, so you can avoid having big losses! More info on following link https://phemex.com/blogs/risk-management-in-cryptocurrency-derivatives-trading. We hope your trade request about your PNL got resolved meanwhile and apologize that you had to wait so long for your answer. If you have any remaining questions, please don´t hesitate to contact us directly at www.phemex.com. We are here 24/7 to support you and hope to see you soon again. Kind regards, Team Phemex
What a fraudulent company. When I deposited my profit for withdrawal they blocked my account. I can't assess my account anymore. After all my money I invested. Really wicked human beings. With all the difficulties in the country going on. Never you put your money on Phemex. When I tried calling it was scammers.
Dear Relindis Tanyi, apologies for the bad experience, our system deploys multiple security measures to avoid bonus farming with multiaccount. It is forbidden to create multiple accounts for multiple bonuses https://phemex.com/announcements/new-welcome-bonus-and-restrictions. If our system detects accounts with the same IP Address or GUIDs, all offending accounts will immediately be frozen and banned. Sadly there could be a false positive if you share wifi (in a cybercafe for example). Anyway you won't lose any deposit. Please proceed with KYC to get a full refund. If you have any remaining questions, please don´t hesitate to contact us directly at www.phemex.com. We are here 24/7 to support you. Kind regards, Team Phemex
They are the best scammers. Please nevwr put your money by mistake also. They locked my account saying i have more than one account. When they asked to provide KYC docs which i have already submitted its being 1 month and no response from their email or chat support. Stay away guys from such scammers...
Dear Rochdale Athaide, apologies for the bad experience, our system deploys multiple security measures to avoid bonus farming with multiaccount. It is forbidden to create multiple accounts for multiple bonuses https://phemex.com/announcements/new-welcome-bonus-and-restrictions. If our system detects accounts with the same IP Address or GUIDs, all offending accounts will immediately be frozen and banned. Sadly there could be a false positive if you share wifi (in a cybercafe for example). Anyway you won't lose any deposit and we hope meanwhile that your funds got credited back. If you have any remaining questions, please don´t hesitate to contact us directly at www.phemex.com. We are here 24/7 to support you. Kind regards, Team Phemex
Platform is painfully vanilla and mobile application practically unusable. Execution is dependable and slippage is minimal. Couldn't hold up during the big crash in May 21', but that was not limited to them so not a big negative. They run multiple gotcha promotions with poor T&Cs to fark with you, best avoided. Their withdrawal system is antiquated which is the biggest negative and a big no-no for me. Support is outsourced to some third party schmuck who has no idea how to help you and simple cuts and pastes from their website. Practically non-existent. Best avoided, there are many better options out there.
Dear Matt Jones, we are sorry to hear about your experience. We had recently an app upgrade and optimized the user interface and added many new features. Maybe you want to take a look at google/apple store? Also if you experience any issues with phemex website, you might wanna use chrome browser. Phemex is optimized for chrome browser and you will have with chrome the best user experience. Why are withdrawals at phemex only 3 times a day for normal users? It is because we store our assets in cold wallets and credit every withdrawal manually. Please read more about our Wallet Security practices on following link https://phemex.com/security. The inconvenience is worth the value added; and at least for the majority of customers, the most important is the safety of the funds. Since hourly withdrawals cost the exchange more effort, it´s only for premium members enabled. Premium members enjoy also other advantages, for example zero fees for spot trading. See more on following link https://phemex.com/premium. If you have any remaining questions, please don´t hesitate to contact us directly at www.phemex.com. We are here 24/7 to support you and hope to see you soon again. Best regards, Team Phemex
One of the best exchanges i have trade crypto on. Most trusted team
Hi Islam, :) Thank you for your fantastic review! We’re thrilled to hear that you consider Phemex one of the best exchanges and trust our team. Your support means a lot to us. If you ever need any assistance, feel free to reach out to us at [email protected]. Happy trading! The Phemex Team
The Platform is nearly perfect, but the fact that you cant withdraw your money, without using another platform is ridiculous. I made a smaller deposit, as i wanted to try it out, but when i wanted to cash out, i was told that you have to make a deposit greater then 500 dollars to get your money withdrawed to the bank, otherwise they are stuck as cryptovaluta unless i go to someone else and make ONE MORE trading profile and then transfer to them, so they can put my money back in the bank. If only it was SO DAMN HARD when we had to give them money, people would never spend a dime that way!..But apparently taking money is much easier.
Dear Dennis Nielson, please kindly notice that we don't process any fiat transactions, only crypto. You have 2 options to withdraw your funds to a bank account. Option 1. You may use the OTC service and withdraw it to your bank account. Please be aware of the minimum withdrawal limit is 50 USD and there is a 30 USD wire fee if the withdrawal amount is less than 50K USD Please double-check whether your country/region is supported or not. https://phemex.com/getting-started/how-do-i-use-the-phemex-otc-service https://phemex.com/getting-started/what-is-the-phemex-otc-service https://phemex.com/getting-started/supported-countries-regions-for-phemex-otc-services You can wire your bank account from this link: https://phemex.com/otc/legend-trading Option 2. You may also send your cryptocurrency to any other exchange that supports crypto to fiat, such as Kraken, Coinbase, Binance, you will be able to exchange your crypto for USD, EUR, and other fiat currencies there. You can find withdraw function from your Assets page. You can find the Assets entry at the top right corner. Then you can follow the steps https://phemex.com/references/articles/how-do-i-make-a-withdrawal If you have any remaining questions, please don´t hesitate to contact us. We are 24/7 available. Best regards, Team Phemex
Locked my account with no explanation. I was using it for just one day, bought bitcoin with banxa, and next day my account locked with NO EXPLANATION, and my funds stuck in wallet. Contacted them via E-Mail but no response. Don't use this site
Dear Nano Andersson, apologies for the bad experience, our system deploys multiple security measures to avoid bonus farming with multi-account. It is forbidden to create multiple accounts for multiple bonuses https://phemex.com/announcements/new-welcome-bonus-and-restrictions. If our system detects accounts with the same IP Address or GUIDs, all offending accounts will immediately be frozen and banned. Sadly there could be a false positive if you share wifi (in a cybercafe for example). Anyway you won't lose any deposit and we hope that meanwhile your issue has been solved. If you have any remaining questions, please don´t hesitate to contact us directly at www.phemex.com. We have a live support and we are available 24/7 to support you. Kind regards, Team Phemex
From my personal experience,I would say this is the Best scam of 2021. I started trading in the platform and earned few $, at the time of withdrawal they freeze my fund. They told me I need to perform KYC inorder to unlock the fund. But after I submitted my Documents for kyc they locked my account. I tried contacting support care via email and official chat but the response was worst all they say is it will take time. I've been contacting for the past 4 day but nothing changed. So if you guys are thinking of trying this platform think twice and search more on the internet before investing.
Dear Dharmaraj, apologies for the bad experience, our system deploys multiple security measures to avoid bonus farming with multiaccount. It is forbidden to create multiple accounts for multiple bonuses https://phemex.com/announcements/new-welcome-bonus-and-restrictions. If our system detects accounts with the same IP Address or GUIDs, all offending accounts will immediately be frozen and banned. Sadly there could be a false positive if you share wifi (in a cybercafe for example). Anyway you won't lose any deposit and we hope meanwhile that your funds got credited back. If you have any remaining questions, please don´t hesitate to contact us directly at www.phemex.com. We are here 24/7 to support you. Kind regards, Team Phemex
Phemex is a scam. My money which I transferred there disappeared after i hadn’t logged into my account in more than a month. I have been given no explanation about why my money has disappeared. Fortunately I can afford to lose that kind of money but this situation would break most people. Don’t use phemex. It’s terrible.
Dear Tina, you can locate your past transactions such as withdrawals and trades on following links: https://phemex.com/assets/withdrawal https://phemex.com/assets/funds https://phemex.com/assets/contract-trade-history Have you contacted the online support at www.phemex.com? The tech team can help you with your questions and they can locate also suspicious activities. We are here 24/7 to support you and hope to see you soon again. Best regards, Team Phemex
Terrible experience trading. I have lost thousands on this site over the past few days. Trading is manipulated by admins. If you open a position, suddenly the markets stop and shoot in the other directly. I’ve been trading for 6 years. This place is marketed as “no fee” that’s a total misrepresentation. There are boatloads of fees on top of the membership fee you pay. It’s all a joke. Would I recommend Phemex? Not even to my worst enemy. You have been warned. Don’t make the same mistake I have. No thanks.
Dear Webber Vick, about the trading manipulation by admins, this is simply impossible since Phemex employs a dual-mechanism system. More info here https://phemex.com/user-guides/mark-price-and-dual-price-mechanism#:~:text=The%20Phemex%20mark%20price%20is,index%20price%20or%20mark%20price. The last Price or Market price is the last price of any trade that takes place at the Phemex platform. The important guide is that "Mark Price" (fair price) used on the Phemex platform is a price computed as average derived from six spot exchanges: Coinbase, Bitstamp, Kraken, Binance, OKex, and Huobi. The main reason we implement a dual price mechanism is to avoid price manipulations in the best interest to protect the user's position, we will demonstrate it in a sample case. Simple example: The average Bitcoin price on the main exchanges is in the 8000 - 8010$ range. Phemex Mark Price = 8005,5$ Phemex Last Price = 8007,5$ You are shorting the position and your liquidation price is 8030$. All of a sudden, a user has just bought 1,000,000 and it dramatically increased Phemex last price up to 8335$ (for one second) and the mark price is 8008$. Notice that 8335$ is higher than your liquidation price and it means your position would get liquidated if there is no Mark Price. Fortunately, the reality is liquidation will only be triggered by mark price on Phemex, therefore, your position will not get liquidated in the above case. To conclude, Mark Price is in the trader's favour since it's more independent than the Last Price. Here is the link to view the Mark Price chart: https://phemex.com/contract/mark-price About our fees all is clearly stated on our website. You can for example withdraw for zero fees via tr20 and trade in spot for zero fees as Premium or Premium trial user on web or app. More info here https://phemex.com/fees-conditions Detailed info about our Premium membership and other advantages here https://phemex.com/premium If you have any remaining questions, please don´t hesitate to contact us directly at www.phemex.com. We have a live support and we are available 24/7. Best regards, Team Phemex
BY FAR THE WORST TRADING EXPEREINCE IN 5 YEARS. THERE CUSTOMER SERVICE IS RUN BY ZENDESK WHO ARE COMPLETLY CLUELESS IT IS LIKE TALKING TO A 5 YEAR OLD WHO REPEATS THEMSELVES.. ON TOP OF THIS THEY DO NOT RESPECT THERE SL AND TP ORDERS FORCING YOU TO MARKET OUT OF TRADES WHICH ENCURE MORE FEES PAID TO THEM.. I JUST HAD A TRADE PROFIT $100+ DOWN TO $60 DUE TO NOT FILLING MY SL ON A SHORT ORDER FORCING ME TO MARKET OUT... BIGGEST SCAM PLAFTORM. I THOUGHT BYBIT WAS BAD LOL.. GET YOUR MONEY OUT AND RUN
Dear Carmila Morgan, apologies for the bad experience and we hope that meanwhile your order execution issue has been solved. Also we have given your feedback to our customer support. If you have any remaining questions, please don´t hesitate to contact us again. We are available 24/7. Kind regards, Team Phemex
Cryptocurrencies and digital assets Simply put, cryptocurrencies are a virtual form of money. Or in a way, it can be said that there are different types of virtual currencies that are designed using cryptographic technology. As a result, we often refer to it as virtual money or digital assets. In a more complete definition of cryptocurrencies, it can be said that cryptocurrencies are digital currencies that are controlled by a number of encryption algorithms to generate them and perform transactions such as transfers. Cryptographers usually work decentrally, without any affiliation with banks, and can be used in a variety of contexts. The remarkable features of the cryptocurrencies - observed by Satoshi Nakomoto in 2009 - allow us to make a variety of instant, secure, cheap and anonymous transactions. All of these amazing features are the result of cryptocurrencies, the core technology of cryptocurrencies, which allows for non-retrofitting and general office tampering. There are many exchanges that compete with each other. One of them is Phemex, which is the best. There are many reasons such as security, simplicity, popularity and practicality. Phemex provides a simple platform for the customer with zero feefs for spot trading.
Hi there, :) Thank you for your detailed and thoughtful review! We’re happy to hear that you recognize Phemex as one of the best exchanges, especially for its security, simplicity, and zero-fee spot trading. We strive to offer a platform that’s easy to use and reliable, and it’s great to see that you appreciate these features. If you ever need any assistance or have feedback, don’t hesitate to reach out to us at [email protected]. Happy trading! The Phemex Team
Phemex offers many benefits and opportunities for traders. The platform is very easy to use and suitable for both new and experienced traders.
Hi Alan, :) Thank you for your wonderful review! We’re so glad to hear that you find Phemex easy to use and beneficial for both new and experienced traders. If you ever need any assistance or have feedback, feel free to reach out to us at [email protected]. Happy trading! The Phemex Team
After having to chase the automatic bonus payment they have not paid the full bonus as promised 3 times by the support staff. They only paid 50%. I then traded with the 50% and the losses were taken from my currency and not the bonus. I believe this to be criminal.
Dear Darren, apologies for the bad experience and we hope that meanwhile your bonus issue has been solved. If you have any remaining questions, please don´t hesitate to contact us again. We are available 24/7. Kind regards, Team Phemex
Phemex, my experience transacting here is honestly very easy to access especially for beginners like me, many good events await Traders for competition but the mistake of the withdrawal process, please speed up, thanks for the good work of the team, god bless you #LetsReviewPhemex
Hi there, :) Thank you for your feedback! We’re thrilled to hear that you find Phemex easy to use, especially as a beginner, and that you’re enjoying our events and competitions. We appreciate your suggestion regarding the withdrawal process and will continue working to improve the speed. If you ever need assistance or have more feedback, feel free to reach out to us at [email protected]. Thanks again for your support, and happy trading! The Phemex Team
Hi there, :) Thank you for your awesome feedback! We're thrilled to hear that you think Phemex is a super app. If you ever need any help or have questions, feel free to reach out to us at [email protected]. Happy trading! The Phemex Team
Phemex Exchanger Real Review. PHEMEX exchanger is a good exchanger. I trade here because it is a trusted exchanger. I like the exchanger if you want, you can use it to make a good profit income from online trading. I have been using it for a long time. I have not seen any problem so far. I will suggest you to use PHEMEX exchanger and earn income by trading online. PHEMEX exchanger is a good exchanger inside the current online. So I will tell you if you want to earn income by trading with confidence then PHEMEX exchanger Do it without any problem. There is no possibility of eating dollar loch here. Because I have been using it for a long time, I have not read any problem. It is easy to sign up. You can easily sign up. The Fastest Crypto Exchange and Futures Trading Platform Average trading volume per day have reached $ 574,000,000 Phemex offers a number of interesting services. The company began as a cryptocurrency derivatives exchange offering products such as Bitcoin perpetual contracts. Phemex allows a maximum leverage of 100x on these products. This means that you can hold a position worth 100x more than your original investment. However, a very small change in price in the opposite direction can cause you to get liquidated and lose all your funds. This type of leverage is already offered by BitMEX and ByBit. Leveraged products are incredibly risky and must be used with careful consideration. To help you manage this risk, Phemex offers tools such as take profit and stop loss conditional orders. With these orders you can define and improve your trading strategies while maximizing opportunities for profit. Since May of 2020 Phemex also offer an innovative zero-fee spot trading service. With it, you can trade BTC, ETH, XRP, LINK, XTZ, LTC, ADA, TRX, ONT, BCH, and NEO against USDT on the platform without having to pay any commissions. Compare this to most popular exchanges that charge 0.10-0.50% each time you buy or sell a cryptocurrency. Buy cryptocurrency safe and reliable Search BEGINNER’S GUIDE Crypto Live Prices Exchanges News Free Crypto Contact Close Menu Home» Review» Phemex Review» Phemex review Phemex, founded in 2019, is one of the latest cryptocurrency and derivatives exchanges to join the industry. Already, they have gained a significant market share and offer interesting promotions. They directly compete with big names such as BitMEX, ByBit, and Binance. Can Phemex become a replacement for these exchanges? The availability of Phemex is subjected to regulation. In this Phemex review you will learn all about the exchange, how to trade on it, and additional background information. You are also welcome to leave your own review at the end. platform to trade... As every one knows that phemex is a well known exchange for it's great airdrop distributions and offers for new and old users it provides us the opportunity to earn crypto currency with and without investment Everyone getting their rewards on time as they promis.its easy to use friendly user dashboard easy to trade No need kyc its preety cool One of the best projects offers good opportunities for newbies. The project has goals, big plans for the future, and a strong reliable team.phemex project have a successful future.
Hi, Chisom. Thank you so much for your detailed and thoughtful review! We’re really glad to hear that your experience with Phemex has been positive over the years. We also appreciate your feedback on the airdrop distributions and opportunities we provide for both new and experienced users. Our goal is to offer a seamless, secure, and rewarding experience for everyone, and we’re thrilled that you’ve noticed the efforts we’ve made to create a reliable and efficient platform. We understand the importance of trust, and we’re grateful for the confidence you’ve placed in us. If you ever need any assistance or have any questions about trading or any of our services, don’t hesitate to reach out to our support team. We’re here to help! Thanks again for your support, and we wish you continued success with your trades. Happy trading!
First of all said that,phemex exchanger site is really 100% realible and also very quickly we can exchange any crypto and also we can easily with trusted continue our trade for income money safely..sometimes this exchange give us lot amazing opportunity for earn money and sometimes give us giveaway that is really really pay able within there in time..thats wife i love this exchanger...i wish long time i have to stay phemex exchanger😍
Thank you so much for sharing your experience! Our team works hard to create a secure and efficient environment for traders, and we’re glad to see that you’ve had positive experiences with both our exchange and giveaways. It’s great to know that you feel confident and safe while using Phemex, and we truly appreciate your loyalty. We’re excited to continue supporting your trading journey, and we hope to be your go-to platform for many years to come! If you ever have any questions or need assistance, don't hesitate to reach out. Happy trading and best of luck! 😊
217 reviews matching
