The Phemex exchange launched in 2019 in Singapore. It is a relatively young exchange. Nevertheless, it already has a fairly extensive set of instruments.
There are spot and futures markets on the exchange. Passive income is possible through the Phemex Savings and Phemex Laucnhpool tools. The exchange also has the function to copy trades of other traders in the futures market.
Funding of the trading account on Phemex is possible via bank card, cryptocurrency transfer, and P2P trading. Withdrawals are also available via bank card, cryptocurrency transfer, or P2P trading.
The official Phemex website has a full Russian-language version. The Phemex mobile app is available on iOS and Android. Traders can trade on the exchange via trading terminals. The connection is implemented using an API.
There are more than 250 cryptocurrencies traded on the spot market paired with USDT. They are broken down into several categories: DeFi, GameFi, NFT, Metaverse, Smart Contracts Platform, Infra, Memes, Innovation, and Croschain.
The Phemex interface: spot market
The possibility of margin trading with leverage on the Phemex spot market has not been implemented. There are classic market and limit orders, as well as conditional orders, implemented for placing applications.
Phemex also has a section for listing on the exchange, the Phemex Launchpad. Here you can find out the timing of a new coin listing, the price, the total amount of funds and other information.
On Phemex, perpetual USD futures and COIN-M futures (BTCUSD, ETHUSD) are traded. There are also perpetual USDC futures in development.
The Phemex interface: futures market
In the futures market, it is possible to trade with up to 20x leverage. The BTCUSD instrument is traded with up to 100x leverage. As in the spot market, the tools traded are categorised as DeFi, GameFi, NFT, Metaverse, Smart Contracts Platform, Infra, Memes, Innovation and Сrosschain.
Phemex passive income
The Phemex exchange has implemented the tools of Phemex Savings, Phemex Laucnhpool, and the function of copying the traders' trades in the futures market for passive income.
Under Phemex Saving, cryptocurrencies can be mortgaged for 7 or 14 days at a low interest percentage (from 0.5% to 8.8% profit). More than 10 cryptocurrencies are available, including USDC, USDT, BTC and ETH. Funds can be mortgaged at fixed or flexible percentages.
he Phemex interface: Phemex Savings
Under Phemex Launchpool, users can participate in pre-positioning new cryptocurrency on the exchange by staking. Once locked, funds can be unlocked at any time. Staking rewards can be paid out every hour. More details on the terms of participation in the launchpool can be found on the Phemex site.
The Phemex interface: Phemex Laucnhpool
The copytrading function on Phemex is implemented as standard. The user can choose a trader, subscribe to it for tracking "manually" or activate automatic copying of trades. When automatic copying is connected, the user sets up the deposit and risks himself.
The Phemex interface: copy trades
Read more about passive income opportunities on Phemex here.
Trading fees on Phemex, as on the most cryptocurrency exchanges, are based on a maker/taker system. There are different fee rates for the spot and futures markets.
Spot market fees
On the Phemex spot market, the fee system consists of ten levels. At the basic level, the fee for a maker and a taker is 0.1%. The higher level, the lower fee.
Phemex: spot market fees
The trader's level in the system of fees depends on the monthly trading volume and the USD balance in the trading account. At the tenth level, the maker's fee is -0.002%, and the taker's fee is 0.03%.
Futures market fees
The Phemex futures market has a one-tier fee system. Maker's fee is -0.025%, taker's 0.075% for all tools.
The Phemex interface: spot market
20% discount on Phemex commissions
Open an account on the Phemex exchange using a referral link from the CScalp team by clicking on the button "Sign up for Phemex". By registering through a referral link, you will receive a bonus from the exchange - a 20% discount on all commissions and a welcome bonus up to $180. Read more about registration on the exchange in this instruction.
Registration on Phemex takes a few minutes. All you need for registration is an email address. After registering, it is recommended that you configure your security settings. Instructions on registering and security settings can be found here.
The exchange has positive reviews among users. According to CoinGecko, the exchange has a 7/10 trust rating. The exchange offers a wide range of tools: spot and futures markets, a variety of opportunities for passive income. Therefore, the exchange can be suitable for beginners and professional traders, as well as investors and copytraders.