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.
Is Phemex legit?
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.
So I'm going to make you a serious proposal. How about I write you positive reviews and give you 5 stars every day for a month in order to allow me the money we stole from me, or at least let me know what deal you've made with the people below who give you 5 stars so we can do the same and we'll find them.
Reply from Phemex2024-12-19
Thank you for your feedback, and we sincerely apologize for the situation.
Unfortunately, we are unable to address your case here due to insufficient information. Kindly reach out to us directly at [email protected] or contact our 24/7 live customer support at Phemex.com, and we will respond promptly.
Your trust is very important to us, and we are committed to resolving this matter to your satisfaction. We appreciate your patience and continued support as a valued Phemex user.
I had bought sundogusdt 0.10672 on 4/11 and because it fell after two hours to 0.0982 they sent me a message that because it fell and reached this price (-8%) we will zero your account because that is how the platform's terms are and so they simply stole my money from me today 11/5 its price is 0.10787 that is +1.1% above the price I bought it and my account is at 0. If they are not scammers who are they, and they also have their partners who are lower and they put 5 stars, they are not ashamed either. Away with you, gentlemen scammers.and today 11/7 is at 0.1480 (+39%) and these scammers are still claiming that it is bankrupt. the thieves.and on 11/14 it is 0.27. Give me my money now, you crooks.
Reply from Phemex2024-12-19
Thank you for your feedback, and we sincerely apologize for the situation.
Unfortunately, we are unable to address your case here due to insufficient information. Kindly reach out to us directly at [email protected] or contact our 24/7 live customer support at Phemex.com, and we will respond promptly.
Your trust is very important to us, and we are committed to resolving this matter to your satisfaction. We appreciate your patience and continued support as a valued Phemex user.
Hi Paul,
We’re truly sorry to hear about your experience. Your feedback is very important to us, and we’d like to make things right.
Due to limited information, we’re unable to fully address your case here. Please contact us directly at [email protected] or reach our 24/7 live customer support at Phemex.com, and we will assist you as quickly as possible.
Your trust is essential to us, and we are committed to resolving this issue to your satisfaction. Thank you for your understanding and for being a valued Phemex user.
I would never advice anyone to start anything here. Withdrawals are never processed. I was able to get it solved with Hold Kastle
Reply from Phemex2024-12-19
We appreciate your feedback, and we deeply apologize for the inconvenience caused.
Due to limited information, we’re unable to fully address your case here. Please contact us directly at [email protected] or reach our 24/7 live customer support at Phemex.com, and we will assist you as quickly as possible.
Your trust is essential to us, and we are committed to resolving this issue to your satisfaction. Thank you for your understanding and for being a valued Phemex user.
One week later, Phemex still took my money for "security reason" after i done a deposit (same wallet i used 5x before without a problem) i didnt reached any limits, they just want blackmail now kyc out of me without answering more from the "security department"
seems this cex is a scam and want your datas or dont give your money back...
BECAREFUL
Reply from Phemex2024-12-19
Thank you for your feedback, and we sincerely apologize for the situation.
Unfortunately, we are unable to address your case here due to insufficient information. Kindly reach out to us directly at [email protected] or contact our 24/7 live customer support at Phemex.com, and we will respond promptly.
Your trust is very important to us, and we are committed to resolving this matter to your satisfaction. We appreciate your patience and continued support as a valued Phemex user.
Never use this exchange!
I used them for the first time with a small amount (less than $100) to test the service, and initially, everything worked fine. However, when I transferred $8,000, they blocked my account, preventing me from accessing my funds due to so-called 'KYC and anti-money laundering' issues. They held my money hostage for over 30 business days! Worst experience ever
Reply from Phemex2024-12-19
We appreciate your feedback, and we deeply apologize for the inconvenience caused.
Due to limited information, we’re unable to fully address your case here. Please contact us directly at [email protected] or reach our 24/7 live customer support at Phemex.com, and we will assist you as quickly as possible.
Your trust is essential to us, and we are committed to resolving this issue to your satisfaction. Thank you for your understanding and for being a valued Phemex user.
Thank you for sharing your feedback, and we apologize for the inconvenience caused.
Unfortunately, we cannot fully address your case here due to insufficient details. Please reach out to us directly at [email protected] or contact our 24/7 live customer support at Phemex.com for prompt assistance.
Your trust is extremely important to us, and we are dedicated to resolving this issue to your satisfaction. We appreciate your patience and continued loyalty as a valued Phemex user.
Scam! Do not deposit any money, because you will not get it back, they make it impossible to withdraw. They've got £126 of our money that we can't retrieve
Reply from Phemex2024-12-19
We appreciate your feedback, and we deeply apologize for the inconvenience caused.
Due to limited information, we’re unable to fully address your case here. Please contact us directly at [email protected] or reach our 24/7 live customer support at Phemex.com, and we will assist you as quickly as possible.
My withdrawal did not process/happen, funds are now being held hostage till I put more money in. Saying some BS about becoming a formal trading account need to put total of 5,000 b4 I can withdrawal.
Reply from Phemex2024-12-19
Thank you for sharing your feedback, and we apologize for the inconvenience caused.
Unfortunately, we cannot fully address your case here due to insufficient details. To assist you further, we kindly request the following detail:
Any relevant ticket reference numbers.
You can contact us directly at [email protected] or through our 24/7 live customer support at Phemex.com.
An excellent, time-tested exchange. I have been using it for more than four years. During this time, there have been no problems with the withdrawal of funds or anything else. Since I use the app more often, I sometimes asked for feedback on improvements, and the team always met me halfway. Over these four years, the exchange has grown significantly, and new options have appeared. It's funny to watch how multi-acquires run in during promotional periods and, having earned well-deserved bans, begin to hate. The four years in which there was a bull run, there was a bear, but you survived, well done. I wish you further prosperity and leadership positions in the market!
Reply from Phemex2024-12-23
Thank you, Andrei! Thank you so much for your positive feedback and support over the years! We truly appreciate your loyalty and are glad to hear that Phemex has met your expectations. We're always striving to improve and provide the best experience for our users. We wish you continued success in your trading journey, and here's to many more years of growth together! Happy trading! 🙂
They're crooks do not deposit your money and trade! They will liquidate your position where they see fit and have unfair execution methods! They do have practice full disclosure and have opaque trading execution methods!!
Reply from Phemex2024-12-19
Thank you for sharing your feedback, we understand how frustrating it can be when your trading experience falls short of expectations, and we sincerely apologize for any confusion or inconvenience this has caused.
Unfortunately, we cannot fully address your case here due to insufficient details. Please reach out to us directly at [email protected] or contact our 24/7 live customer support at Phemex.com for prompt assistance.
Hi,
I SENT PROOF IN ATTACHMENT HOW PHEMEX STOLE ME 2.5K USD IN BTC
AND TRASNFER ID ITS THAT:
btc/tx/3f12188b9c8ffd8b77929a4666134ccdaae08c5f9dd405d0d81828e5c72c8787/
Reply from Phemex2024-12-19
Thank you for reaching out and expressing your concerns. We sincerely apologize for the frustration and inconvenience this situation has caused.
Upon review, we see that your case has been resolved. If you have any further inquiries, please feel free to contact us directly at [email protected] or through our 24/7 live customer support at Phemex.com.
They froze my money and they're saying it's just their normal procedure, randomly doing security check. While never had this problem with any other exchange. No wonder their volume has gone down. Definitely closing my account after I get my money.
Reply from Phemex2024-12-19
Thank you for sharing your feedback, and we apologize for the inconvenience caused.
Unfortunately, we cannot fully address your case here due to insufficient details. To assist you further, we kindly request the following details:
Your registered email address or account ID.
Any relevant ticket reference numbers.
You can contact us directly at [email protected] or through our 24/7 live customer support at Phemex.com.
PLEASE DO NOT USE THIS EXCHANGE
THE LIQUIDATION IS ON THEIR HAND.NO CLARIFICATION. YOUR MONEY WHEN YOU TRADING MARGIN WILL BE DESAPPEAR IN SEC.
NEVER USE
Reply from Phemex2024-12-19
We appreciate your feedback and we understand how frustrating it can be when your trading experience falls short of expectations, and we sincerely apologize for any confusion or inconvenience this has caused.
Due to limited information, we’re unable to fully address your case here. Please contact us directly at [email protected] or reach our 24/7 live customer support at Phemex.com, and we will assist you as quickly as possible.
I advise you to be careful, they block my accounts just like that without giving a reason. They blocked me so much that there wasn't much money in my account, but it's always a waste. They reply to emails with nonsense without giving the reason for the block. It's probably about the money they stole from me, watch out for that thing
Reply from Phemex2024-12-19
To assist you better, could you please provide the ticket reference number? This will help us investigate your case more efficiently.
You can reach us directly at [email protected], or contact our 24/7 live customer support team on Phemex.com.
They work with smaller sums like normal. But when few thousands dollars worth of crypto arrives they mark them as suspicious and blame you based on terrorism and money laundering. Then they begin KYCing and terrrorising you. Every 24-48 hours you receive one email from them, indian service agents in front page wont help you in this loop. In email thei ask you some number or proof from way back, this will go on century backwards, it will never end.
Loop works in a way they unlock "stuff" in webpage but at end it will go for ever in blockchain and funds are stuck here. When you stop going to site they stole money from you.
CEO is ratzi looking charecter and know cybercriminal named Jack Tao. He is thief but likes to dress in suit.
I have reported them to Singapore police department for cybercrimes. I recommend doing same.
I believe mr. Tao will choke on money some day.
Reply from Phemex2024-12-19
Thank you for taking the time to share your feedback. We understand that delays or additional verification steps can be frustrating, and we apologize if our communication has not met your expectations. To help resolve your concerns promptly, we kindly request the following details:
Your registered email address or account ID.
Any relevant ticket IDs.
Please reach out to us directly at [email protected] or contact our 24/7 live customer support team at Phemex.com, and we will prioritize reviewing your case.
Thank you for bringing this to our attention, and we hope to address your concerns to your satisfaction.
I'd give this scam site a zero if I could. They will manipulate the price just so you never get ahead. I've lost $thousands to this site never fails when you short BTC the price will go up indefinitely until you are liquidated. Oh you think maybe you got the long right no they will drop the price right out from under until you are liquidated everytime. Don't waste your money on this pos scam company.
Reply from Phemex2024-12-19
Thank you for your feedback, and we sincerely apologize for the situation.
Unfortunately, we are unable to address your case here due to insufficient information. Kindly reach out to us directly at [email protected] or contact our 24/7 live customer support at Phemex.com, and we will respond promptly.
Your trust is very important to us, and we are committed to resolving this matter to your satisfaction. We appreciate your patience and continued support as a valued Phemex user
First, my futures position was liquidated a few % from the liquidation price, then later when trying to withdraw funds the account was blocked with no recourse. S C A M
Reply from Phemex2024-12-19
Thank you for reaching out and sharing your concerns. We deeply regret the frustration you've experienced regarding the liquidation of your futures position and the subsequent account restriction. Please allow us to assist you and address these issues promptly.
To investigate further and provide a resolution, we kindly request the following details:
Your registered account email or ID.
Any relevant ticket reference ID
You can reply directly to this email or contact our support team at [email protected]. Additionally, our 24/7 live support at Phemex.com is available to assist you in real time.
We are committed to ensuring transparency and resolving this matter to your satisfaction. Thank you for bringing this to our attention, and we look forward to assisting you.
Liquidated position without any add margin notification, effectively stole $1000 position for supposedly 0.000001 cents into liquidation level even though app doesn't even show liquidation price to that many decimal points accuracy, absolute thieves 🤬😡 AVOID THIS EXCHANGE AT ALL COST of you value your money
Reply from Phemex2024-12-19
Thank you for sharing your experience with us. We sincerely apologize for the frustration caused by the liquidation of your position. We understand how important accuracy and transparency are when trading, and we want to investigate this matter thoroughly to address your concerns.
To assist you effectively, could you please provide the following details?
Your registered account email or ID.
The specific trade or position details, including the time of the liquidation.
Any relevant ticket reference ID
You can reply to this email or reach us directly at [email protected]. Alternatively, our 24/7 live support team at Phemex.com is available to assist you in real time.
We are committed to maintaining a fair and transparent trading experience for all users and will prioritize resolving this issue promptly. Thank you for your patience and for bringing this to our attention.
I was liquidated when the price was around 5% away from then liquidation, just like that.
Have emailed but no response thus far, seems like total bs and bad liquidity compared to other exchanges.
Maybe because i had tried to take the money out the day before?
Seems like BS and will not use again.
Reply from Phemex2024-12-19
Thank you for sharing your experience with us. We sincerely apologize for the frustration caused by the liquidation of your position. We understand how important accuracy and transparency are when trading, and we want to investigate this matter thoroughly to address your concerns.
To assist you effectively, could you please provide the following details?
Your registered account email or ID.
The specific trade or position details, including the time of the liquidation.
Any relevant ticket reference ID
You can reply to this email or reach us directly at [email protected]. Alternatively, our 24/7 live support team at Phemex.com is available to assist you in real time.
We are committed to maintaining a fair and transparent trading experience for all users and will prioritize resolving this issue promptly. Thank you for your patience and for bringing this to our attention.
