Title: Phemex Manipulates Prices and Steals from Traders
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.