Singapore ยท Founded 2019
Phemex
Phemex is a derivatives-focused exchange that also supports spot trading and earn products. It targets active traders with perpetuals liquidity, API access, and a fee tier system.
Visit PhemexQuick Answer
Phemex scores 70/100 on CryptoScorer. It is best suited to traders who want spot, futures, with mixed regulatory coverage, published proof-of-reserves information, and standard spot fees of 0.10% maker / 0.10% taker. Use it if those strengths match your region, KYC tolerance, and trading style.
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Score Breakdown
CryptoScore: security, fees, liquidity, regulation, UX โ 0-100.
Health Score
Trust, transparency, and resilience
Health Score blends trust signals, transparency, and operational longevity.
Fee Breakdown
Spot
Standard tier
Futures
Perpetuals & futures
Exchange Overview
Trading Pairs
0+ markets
Proof of Reserves
PoR published; current ratios pending verification
Fiat On/Off Ramps
API Access
Security & Trust
KYC Matrix
| Level | Withdrawal Limit | Documents Required | Processing Time |
|---|---|---|---|
๐ข No KYC | Non-KYC withdrawal limit: 0 USDT; KYC required for withdrawals | None | Instant |
๐ก Basic KYC | Identity verification is generally needed for higher limits and broader fiat-linked functionality | Government ID + Selfie or liveness check | <1h |
๐ด Full KYC | Unlimited | Government ID + Proof of address when required + Enhanced review for higher-risk or high-limit usage | 24-72h |
Proof of Reserves
Geographic Coverage
US
EU (MiCA)
UK
Canada
Australia
Japan
Singapore
Coverage
Global coverage
Blocked countries
None
Restricted countries
None
| Region | Fiat Deposit Methods |
|---|---|
| US | ACH, Wire Transfer, Debit/Credit Card |
| EU (MiCA) | SEPA, Bank Transfer, Debit/Credit Card |
| UK | Faster Payments, Bank Transfer, Debit/Credit Card |
| Canada | Interac e-Transfer, Bank Transfer, Debit/Credit Card |
| Australia | PayID, Bank Transfer, Debit/Credit Card |
| Japan | Bank Transfer, Debit/Credit Card |
| Singapore | FAST, Bank Transfer, Debit/Credit Card |
Language support
10+ languages
Channels: email, chat
Why traders pick Phemex
Phemex is most attractive to traders who want a platform that still feels centered on active trading rather than a giant consumer ecosystem. Its identity is built around derivatives, execution, and trader tooling, with spot access and some additional products layered on top. That makes it useful for users who care more about charts, order flow, perpetuals, and API workflows than about cards, lifestyle features, or massive token universes. Compared with some larger exchanges, Phemex can feel more focused, which is exactly why some traders prefer it. The trade-off is that it does not offer the same breadth of ecosystem services or the same trust profile as the most regulated venues. But for active traders who want a relatively streamlined platform with strong emphasis on execution, Phemex still makes sense. It is a venue people pick for trading utility, not for trying to be their entire crypto life in one app.
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