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Michael

United States

1 Reviews
2 Reads
0 Useful

1 review

Phemex

Terrible for Algo bot traders

Algo traders will find more frustrations than they can handle with trying to automate Futures trading. Also, I lost $2,000 due to an automatic reset of my Leverage setting. I am cautious and set default to 1x. But after closing all my positions at one point, my default was somehow set to 10x. Definitely not by me. A manageable $200 loss was suddenly a $2,000 loss. And did I mention that coding the REST or CCXT for this platform is a nightmare? Of course, I removed all my funds today. I can't work with an exchange like this.

2026-03-02