Phemex is Prohibited in the UK, US etc.
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.