Great choice for derivatives traders seeking high leverage and low fees, but subject to regional restrictions.
| Fee Type | Rate |
|---|---|
| Spot Trading (Maker) | 0.10% |
| Spot Trading (Taker) | 0.10% |
| Futures (Maker) | 0.01% maker / 0.06% taker |
| Futures (Taker) | 0.01% maker / 0.06% taker |
| Withdrawal Fee | Varies by asset |
| Deposit Fee | Free (crypto) |
App Store January 2026
Execution speed is top tier. Never had order slippage even during massive liquidations. The interface on mobile is smooth and responsive.
App Store December 2025
Super low maker fees on futures trading. Highly recommend for anyone doing high-frequency or algorithmic strategies.
App Store October 2025
Great platform overall for BTC and ETH leverage. Wish they had a bit more liquidity on smaller cap altcoins though.
App Store August 2025
Deposits and withdrawals are straightforward. The copy trading feature works well for passively following strategies.
App Store May 2025
Clean design, stable server uptime, and good charts integrated directly into the app.
Founded in 2019 by former Morgan Stanley executives, Phemex is a Singapore-based cryptocurrency exchange specializing in spot and contract derivatives trading. Holding an overall ExchangeRank score of 4.12 out of 10 and ranked 12th in its category, it stands out for its high throughput, competitive fee structure, and advanced trading engine designed for high-frequency strategies.
Phemex features a competitive fee structure, achieving a fee score of 8.80 out of 10. Standard spot market fees are set at 0.10% for both makers and takers, with premium VIP tiers offering further discounts. For contract and perpetual futures, Phemex applies a maker fee of 0.01% and a taker fee of 0.06%. Fiat deposits and crypto deposits carry zero fees from the exchange side, while withdrawal fees depend on the specific blockchain network used.
Phemex achieves a security score of 8.2 out of 10 based on ExchangeRank evaluation. The exchange operates a Hierarchical Deterministic Cold Wallet System, assigning individual deposit addresses to users while keeping funds offline. It enforces mandatory two-factor authentication (2FA), regularly publishes Proof-of-Reserves (PoR), and utilizes a custom-built trading engine capable of processing 300,000 transactions per second with sub-millisecond latency.
Phemex scores 7.50 out of 10 in asset variety, listing over 250 cryptocurrencies across spot and futures markets. Its trading lineup includes spot trading, perpetual contracts with up to 100x leverage, copy trading, and yield-earning products through Phemex Earn. Additionally, the platform introduced its native PT token and web3 ecosystem components, allowing users to participate in platform governance and earn staking rewards.
Phemex is ideal for experienced derivatives traders and active day traders who prioritize low execution latency, high leverage options, and clean charting tools. With an ease-of-use rating of 7.2 out of 10 and mobile app ratings averaging 4.5 out of 5 stars, it offers an intuitive experience for both desktop and mobile users looking to trade crypto-margined and USD-margined contracts.
The main limitations of Phemex involve regulatory access and coin selection compared to massive altcoin hubs. Residents of certain jurisdictions, including the United States, face strict access restrictions due to compliance regulations. Additionally, customer support holds a score of 3.5 out of 10, indicating potential delays during peak market volatility.
Phemex implements tiered KYC requirements. Basic functions and lower withdrawal limits may be accessed with minimal verification, but full KYC is required for higher withdrawal limits and fiat gateway services.
Phemex offers leverage up to 100x on select major perpetual pairs like BTC/USD and ETH/USD, with lower maximum leverage limits on altcoin products.
Phemex charges a standard 0.10% spot trading fee. For contract trading, maker fees start at 0.01% and taker fees start at 0.06%, with further discounts based on VIP tier status.
Sources: ExchangeRank source data, official exchange website, app store and Trustpilot references when available.
Great choice for derivatives traders seeking high leverage and low fees, but subject to regional restrictions.