Phemex is a leading crypto-currency derivatives trading platform, renowned for its speed, robust security and wide range of digital assets. It is suitable for everyone, from individual holders to large-scale institutional investors. However, due to regulatory rules, it is not accessible to US residents.
Phemex: a state-of-the-art trading platform
Founded in 2019 by a group of former Morgan Stanley executives, Phemex stands out for its speed, security and deep liquidity across hundreds of digital assets . It offers perpetual contracts, futures and leveraged tokens, meeting the needs of retail and institutional investors.
Registration on the platform does not require identity verification (KYC), which means you can sign up and start trading with just an email and password.
Performance and security: Phemex’s key strengths
Phemex boasts a robust and efficient trading engine, capable of handling 300,000 transactions per second (TPS) with a latency of less than 1 millisecond. The platform implements advanced risk management strategies, protecting users’ assets with its multi-signature cold portfolio system and offering protection against negative balances.
Phemex was founded by a group of former Morgan Stanley executives, with Jack Tao, an experienced Wall Street trader, as CEO. The company is based in Lithuania under the trading name Phemex Group, Phemex Lithuania UAB (company number: 306047839).
Phemex features
Phemex offers a range of features to meet the needs of retail and institutional investors. Key features include:
- Derivatives trading: Phemex enables trading in perpetual contracts, futures and leveraged tokens for over 150 crypto assets.
- High performance: The platform features a high-performance trading engine capable of handling 300,000 transactions per second with latency of less than 1 millisecond.
- Advanced trading tools: Phemex offers an intuitive user interface, an institutional-grade TradingView charting package and customizable APIs for algorithmic trading.
- Security: Phemex uses a multi-signature cold wallet system for asset protection, implements advanced risk management strategies and offers negative balance protection to its users.
- Crypto-currency staking: The platform offers a variety of staking and yield features enabling users to generate revenue on the platform.
- Customer support: The platform offers dedicated multilingual customer support to help users with any questions or issues.
Phemex fees
Phemex offers a tiered fee structure based on VIP levels, which are determined by trading volume and account balances. For spot trading, fees range from 0.1% (maker/taker) for VIP 0 to 0% (maker) and 0.04% (taker) for VIP 7. For contract trading, fees range from 0.01% (maker) and 0.06% (taker) for VIP 0 to 0% (maker) and 0.0325% (taker) for VIP 7.
Deposit funds on Phemex
To deposit funds on Phemex, you have two main options:
- Deposit fiat currency: You can transfer fiat currency (e.g. USD, EUR, GBP) to your Phemex account using methods such as bank transfer, debit card or credit card. This allows you to buy crypto-currencies directly on the platform.
- Crypto-currency deposit: You can deposit a supported crypto-currency (e.g. Bitcoin, Ethereum, USDT) from an external wallet or exchange. This allows you to use deposited assets for trading or as collateral for other transactions on Phemex.
Phemex: an attractive choice for crypto-currency traders
In summary, Phemex is a secure and robust crypto-currency trading platform offering a host of features and a tiered fee structure that rewards higher trading volumes .
Although not accessible to US citizens due to regulatory constraints, it remains an attractive choice for investors worldwide. Despite the absence of major security flaws, users are advised to follow best security practices.
