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54 Best Phemex Crypto Exchanges Alternatives

What is Phemex?

Phemex operates as a crypto derivatives trading platform and also acts as a professional/trustworthy global cryptocurrency derivatives exchange. This platform offers Bitcoin, Ethereum, Ripple, and Chainlink perpetual contracts, with up to 100x leverage.

In essence, The Phemex cryptocurrency exchange is a full-service platform that offers leveraged trading up to 100 times your initial investment amount and accepts deposits from credit cards. It provides users with ways to earn interest, and it offers free real-time trades for premium members.

It offers an ‘All-Star commission system’ to help All-Stars track their progress in detail and also offers high-quality media materials to help All-Stars achieve better results. Additionally, Phemex helps All-Stars attract new users by offering a new user bonus of up to $100.

The mobile and desktop versions of the Phemex app have an embedded wallet for deposits that can be used for either spot or contract trading. It also supports transfers of over 34 cryptocurrency trading pairs for spot trading and 37 for contract trading from other digital wallets and trading exchanges but provides different ways to deposit assets. Some of the coins and tokens available for either type of trading include:

Phemex App Overview

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Dogecoin (DOGE)
  • Cardano (ADA)
  • Litecoin (LTC)
  • ChainLink (LINK)
  • Aave (AAVE)
  • USD Coin (USDC)
  • Bitcoin Cash (BCH)
  • Litecoin (LTC)
  • TetherUS (USDT)

is Phemex Legal in US?

Meanwhile, U.S. residents can use Phemex, but it is best to confirm if your state allows the exchange. (which means that Phemex is legal in some parts of the US)

Phemex Review

This cryptocurrency exchange is a good fit for experienced investors looking for advanced features which include:


High Performance

Offers high performance of about 300k transactions per second (TPS), with order response times of less than 1 millisecond.

Advanced Functionalities

FIX API for institutional traders and Sub-Accounts for quantitative traders.

Strongest Wallet Security

Cold wallet storage and Transfers require 2-level human scrutiny with offline signatures.

Access and Support

24 x 7 live multilingual support is also available on Telegram and Twitter.

Is Phemex Legit?

This crypto exchange app is a legit and safe platform that ensures the safety of every single account as Phemex’s top priority. They offer the following:

  • Wallet Security
  • System Security
  • User Account Security
  • Trading Engine Security

More so, all assets are 100% stored in cold wallets and each withdrawal is thoroughly monitored and requires two-person approval with offline signatures. With the executive team’s advanced Wall Street risk management experience, malicious actions are easily detected and protective measures are quickly deployed.

Use the below invitation code when registering a new account with the platform and with a Phemex premium account you can trade on the spot exchange with zero fees. Also, for contract trading, It supports leverage of max, 100x with a BTC or USDT settlement.

Phemex Invitation Code: 16JMJ3
Discount / Bonus Total bonus of 80 USD + Phemex Premium
Duration Unknown
Conditions For all customers


  • Low fees
  • Highly-rated mobile app
  • Allows real-time “spot” investing
  • Fiat-to-crypto purchases
  • Accepts deposits in different cryptocurrencies


  • Complex fee structure
  • Requires withdrawal fees for most cryptos
  • Minimum withdrawal amounts
  • Does not currently offer lending services

Phemex Fees

Coin Minimum Deposit Minimum Withdrawal Limit Withdrawal Fee
BTC 0.00000001 BTC 0.001 BTC 0.00057 BTC
USDT – TRC20 0.00000001 USDT 2 USDT 0 USDT
USDT – ERC20 0.00000001 USDT 2 USDT 10 USDT
ETH 0.00000001 ETH 0.02 ETH 0.0036 ETH
XRP 0.00000001 XRP 0.5 XRP 0.45 XRP
LINK 0.00000001 LINK 0.5 LINK 0.25 LINK
XTZ 0.00000001 XTZ 1 XTZ 0.65 XTZ
LTC 0.00000001 LTC 0.002 LTC 0.001 LTC
ADA 0.00000001 ADA 2 ADA 1 ADA
TRX 0.00000001 TRX 2 TRX 1 TRX
ONT 0.00000001 ONT 2 ONT 1 ONT
BCH 0.00000001 BCH 0.002 BCH 0.001 BCH
NEO 0.00000001 NEO 1 NEO 0 NEO
EOS 0.00000001 EOS 0.2 EOS 0.1 EOS
DOGE 0.00000001 DOGE 100 DOGE 5 DOGE
BAT 0.00000001 BAT 32 BAT 24 BAT
CHZ 0.00000001 CHZ 92 CHZ 71 CHZ
MANA 0.00000001 MANA 44 MANA 23 MANA
ENJ 0.00000001 ENJ 16 ENJ 12 ENJ
SUSHI 0.00000001 SUSHI 2.8 SUSHI 1.58 SUSHI
SNX 0.00000001 SNX 3.36 SNX 2.95 SNX
GRT 0.00000001 GRT 22 GRT 25 GRT
UNI 0.00000001 UNI 1.4 UNI 0.72 UNI
AAVE 0.00000001 AAVE 0.26 AAVE 0.099 AAVE
YFI 0.00000001 YFI 0.001 YFI 0.00044 YFI
COMP 0.00000001 COMP 0.09 COMP 0.046 COMP
MKR 0.00000001 MKR 0.002 MKR 0.0055 MKR
ATOM 0.000001 ATOM 0.01 ATOM 0.005 ATOM
LUNA 0.000001 LUNA 5 LUNA 0.02 LUNA
FIL 0.00000001 FIL 0.01 FIL 0.001 FIL
ZEC 0.00000001 ZEC 0.01 ZEC 0.001 ZEC
QTUM 0.00000001 QTUM 0.02 QTUM 0.01 QTUM
KSM 0.1 KSM 0.1 KSM 0.01 KSM
XLM 0.00000001 XLM 40 XLM 0.02 XLM
ALGO 0.00000001 ALGO 10 ALGO 0.01 ALGO