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.
Terrible terrible TERRIBLE exchange.. been using for years trying to get my money back and I've lost over 50 grand! Very shady platform and and manipulate the hell out of the charts so there's no way for you to win! Don't ever ever use this platform I'm telling ya or you'll be sorry
This platform is extremely high risk. Funds I deposited from my personal wallet (which I use on many trading platforms like Binance, Bitget, and Bybit without any issues and which is 100% legal) were frozen "under the pretext of a security check." Despite depositing funds (into the same wallet I've used many times before without any problems), my wallet is solely for storing cryptocurrencies. Therefore, be careful. There are many other recognized and trustworthy platforms.
100% this exchange scam Don't deposit in this exchange THE BIG SCAMMER!
I have been trading on this platform for years and have always had a good experience. Customer service always available Platform, super efficient
I would steer clear of Phemex, one of the worst leveraged trading platforms there is. I am a successful trader with high percentage of wins. Once the platform recognised this, the app then begins to malfunction. Orders are half filled even thought I used 100% and market option. Very dodge and sketchy behaviour from the APP and company. Would give minus 5 stars, they steal your money. Luckily visa identified the fault and refunded me some of my money. However lost alot due to their faulty system or targeted malfunction.
Super fast and thorough customer service with interface issues! Lucy was great!
They block accounts right after you make profit. No reason, no refund, no support. Once they have your money — it’s gone.
Good afternoon. This exchange blocked my funds on November 11, 2025. Support responded today, stating that the funds will not be unblocked and that I won't be able to withdraw anything. Please look into this and return my money.
As I saw and experienced it it was a good and fast response over great service
Phemex is a garbage and shameless platform! Return our funds!
Perfect assistance with my deposit with incorrect network issue
clearly manipulating market prices and charging hidden fees that are not disclosed anywhere. In one of my trades, I closed a market position at $417, but in the trade history, it appeared as $360 — meaning I lost over $55 instantly because of their price manipulation. That’s not slippage — that’s theft. I also noticed that whenever a trade becomes profitable, Phemex secretly takes an extra hidden fee. The published fees are completely different from what they actually charge in practice. Even worse, the price inside the Phemex platform is different from the real market price. For example, when the real market price was positive, the Phemex chart showed it as negative — executing orders in the opposite direction. This clearly shows they are trading against users like a market maker. This is by far the worst exchange I’ve ever used in my life. Stay away from Phemex — they manipulate prices, steal profits, and deceive traders.ositing large amounts.
I came across Phemex.com in November 2021 a Youtuber said it was a great exchange and I made my first deposit. This deposit should have been refused by Phemex as they are prohibited from UK customers using their service but the deposit was accepted. I had no idea the UK was prohibited at the time and also that Phemex was not FCA regulated in the UK. I did make more deposits and these were not flagged by my bank and Phemex just kept accepting my deposits and this went on until last year, my trading did not work and I did lose a significant amount of money. I think I did not have the experience to trade and when I read more reviews I see that the fees are very high so it is difficult to actually make a profit. I did last year try a withdrawal for £24K but it did not work so I kept trading with that amount and it eventually went. I do feel let down by Phemex for accepting my money and my bank for allowing this to happen. I can only say that this company is Prohibited in the UK and certain countries meaning that if you use them you may not get any profits or any of your money back from your investment. In my opinion I have been scammed by Phemex.com, they should have not taken my money and also should not have an app you can download and use, regulators should not let this happen.
ticket ID : 792318 My usdt Deposit is stuck for a while now if they resolve my issue I will update the review
Good communication skills and accurate to the point information from Muni.
I had a horrible experience with Phemex. Out of nowhere, my account was blocked without any valid reason, even though I completed all the required verification steps and submitted all the necessary documents. Their support was unhelpful and slow to respond, giving vague answers and not resolving the issue. I was given very little time to withdraw my funds, which felt like they were intentionally trying to trap my money. The whole process felt shady and unprofessional. This is not how a serious trading platform should treat its users. I strongly do NOT recommend using Phemex. There are much better and more reliable platforms out there that respect their users and provide proper customer service. Stay away from this one.
litteral scam, do not put your money in futures on this app, they give you an error whenever you want to open a position, and then they finally process it and open your position at the highest point of the candle when it starts dropping + the fees that are absolutely absurd. Extremely easy to lose a big chunk of your money even if you play it safe.
I’m facing an issue while trying to withdraw USDT from my account. The platform is showing the error: "Access forbidden for withdraw" despite having sufficient balance in both my Spot and Futures accounts. My withdrawal address is correct, and I have not made any recent security changes like password reset or 2FA removal. Kindly assist me in resolving this issue at the earliest. UID 8094319 Let me know if you need any additional verification details. Thank you for your support.
Smart Lucy was prompt and polite. Good customer service!
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