Phemex: Crypto & BTC Trading Reviews

by Sullya7x

Phemex works fine when you’re not in a trade. Everything runs smoothly. No connection problems. It’s funny how there’s only problems when I am in a trade. If I’m either in a long or short position, Phemex has connection issues or it freezes. At first I thought maybe it’s because I’m not in WiFi or because I’m somewhere else. Then I started trading in one location. In my living room on the same spot on the couch next to the WiFi router. I’ve tried it with the WiFi off and just go off my phones data and I get the same results. This reminds me of the Coinbase scandal when bitcoin is pushing on a rally or dropping off a cliff, Coinbase all the sudden shuts down. Not allowing traders to close or open a position. The same with Phemex, when I’m on a short and the price drops, the price on the charts freeze and stay the same. So I’m thinking the price hasn’t changed. But in reality the price is dropping and not allowing the user to see the actual price. And vice versa when you’re in a long position. Price is $40 above what the chart was saying. Timing is everything. The price can be at a certain number for a limited time and you could miss it because Phemex freezes. It’s just shady. I’m moving my crypto to another exchange. This is garbage.

by ZacZamora

The layout makes it seem like it is pretty forward and simple, as well as intuitive to amateur and veteran, alike. But there’s a pretty complicated jumble of graphs and positions and trading types and wallet types. By the time you go around, and visit every section; you have more questions, than answers. The fees and limits are dumb. Don’t plan on trying to move anything without $10, although it says minimum trades are above 1.99. It won’t let you do much unless you’re playing big hits, and then you must realize, you have too many factors to look at. It closed me out of a position completely due to liquidation. So watch what you do. You know, they also holler a lot about their promos. Their promos don’t mean anything, because once you withdraw to spot or other wallet, the bonus fees disappear. It’s kind of a joke. Not for me. Moved away from it quickly.

by Appstorereviewer22

Phemex is a total scam and it’s evident they’re paying people to write positive reviews. I did the $10 Twitter bonus and had the idea of converting to a crypto and let it build and eventually withdraw- WRONG. They give you bonuses but they make it VERY hard to use it. Phemex says I have $9.99 USD but wont let me withdraw. I said fine, I’ll convert, NOPE. I try converting to BTC or USDT and it says I have $0.00USD to convert. What a big scam. Thank god I didn’t try the other bonus which forces you to deposit a minimum of $30, plus their fees are sky high, but I had a feeling I should try that Twitter bonus before depositing any of my own money. I would write a Better Business Bureau complaint but seeing from Twitter that they’re located in Singapore, it may make things more harder, so I wont even bother. But just know everyone, this is a S C A M.

by Duranskate13

I had an xrp trade open and woke up to a liquidation notice which is very common (still learning how to trade) but there’s always a history of any closed or liquidated positions but it’s as if it never happened!! It only shows my previous trades and not the recently liquidated one, I also ALWAYS receive an email that says “we are sorry but your x amount of contracts has been forced to liquidate” but hours later and I have not received this email or have history of my liquidated position this is first time this has happened and I’ve very sketched out. Will no longer trust this exchange anymore. Where is my recorded position? Why not showing latest trade in PNL history which I will NEED for tax purposes as well!!!

by Jayjayruso

Don’t make the mistake of using Phemex; it is designed to cheat you out of money in every way possible. They make it hard to move money out of your account with them and their promos are full of lies.

Furthermore, I am fairly certain they gave my debit card number to someone because someone tried to buy $600 of crypto with it recently. Thankfully my bank notified me and I declined it.

Bottom line: Phemex is not the least bit trustworthy.

by Slider(you Stink)

If you want to withdrawal anything from your account you better be willing to wait a while. And in the game of trading crypto a while can cost you. Unless you sign up for their premium service, they only do 3 major withdrawals a day. This terrible app cost me about $500 because I couldn’t transfer my money to another exchange to catch a dip. Why would anyone use this when there are other exchanges out there that let you withdrawal almost instantly. Do yourself a favor and avoid this garbage dump of an app.

by Benedict_1

What a great exchange platform! For the past months, I’ve gotten nothing out of it.

1. I don’t know how they got 4.3 rating almost all your reviews are 1-3 stars.

2. They could not verify my account that I’ve been using on every exchange

3. You get no response from their so-called
support

4. The user interface is absolutely not friendly

5. They have to process your funds trough a third party that charges fees like it’s Christmas and it will take days before you get the amount deposited to your account. And I have to go through the same verification process on each third party. Don’t even mention withdrawals!

6. Up to now I requested that my account be deleted as the instruction on their site to delete account is not accurate no response

7. Final request: Please delete my account.

by Wisecat00007

The spot trade feature is great and very user friendly but the contract futures screen needs some work. It does not give you the option to adjust leverage and too many screens to switch to when working in future trades. Needs to have an all in one screen similar to Binance. Really want to love Phemex but this needs fixed.

by Lisajillrooney

I’ve been using this app for a month and it works well as long asThere are not big moves in the market. When there are big moves in the market Phemex freezes, including on your computer. Which means you cannot exit a trade readily, because it says reconnecting with the server. I’ve lost profits, and also lost in a short position because of this freezing.

by Nilspec

Great to use, 4 stars only because the short and the long button are right next to each other and I accidentally hit the wrong one, instead of asking if you are sure it directly takes the trade.

by Shane Sahlberg

One of the best exchanges in the space bringing crypto adoption to mainstream thank u this app for changing my life. They have created a lifetime membership great service great selection everything u need in one place check it out urself if u want to change ur life

by 

Love the new update on the interface! Was a little confusing at first when they upgraded it, but i love it and will continue using their platform, bc in my opinion this app is the best and most reliable exchange for leverage and spot trading

by MichaelBeeNFree

This place online is solid as far as I know. CF and community are found of this site and service. Compared to rivals they are better from what I can tell. There’s good TV charting with indicators and full tools for measuring and drawing. Use the desktop site and use Phemex on the go. There’s a lot of benefits to this site, hope they are around for years.
Contracts are diverse and spot is good. Enough liquidity to make it easier to use and they’re looking for market share. I hear that removing funds too fast triggers the appropriate response and support seems good. I had an issue that was resolved fast.
Very good crypto exchange, allowing most trading including perpetuals with leverage (use at own risk as 5x is beginner and 20+ is available) Learn n Earn Spot, Futures, more… Easy to learn system.

by VSTARVi

Although, I could get frustrated with the delay in withdrawals and deposits sometimes, this app is my favorite platform to use. Very easy to access and I couldn’t ever move onto another platform whenever I tried. Forever true fan here!!

by Talladegamatt

Its great already but if you were considering further improvement for mobile, I’d ask you to make any tool menus expand to larger icons after selecting a category.

by Campsmmy9

I have learned a lot , I find the trading platform fairly easy to use. It is a very good system to use for a serious trader . I would recommend this platform to anyone who wants to take his/her trading to the next level.

by Nimz H

I rated them 3 stars after the last update when they broke a lot of features on the mobile app.
Looks like they listened and resolved the issues in Phemex on the update put out today.

Glad they took user feedback seriously

by Storm_chaser1125

I started trading at this app in March and their APP definitely saved my time from my laptop. The UI is quite simple but user friendly, basic functions are ready but some are missing compared to the web version. In general, it’s one of the best crypto exchange apps I’ve ever used. Worth downloading.

by JayWerd

It is up to you to do the work and research to make money you can if you do the work to do it. If you think it’s fast money then be ready to lose fast money make it slow low risk you make profit only risk what your willing to lose Phemex is a tool you are the person to profit or lose your money

by Tannersj

this app is THE best place that you can trade and hold assets. You can deposit and withdraw USD and all types of crypto assets. ALL WITHOUT ENTERING YOUR SSN OR TAXPAYER ID. If you want a secure easy to use platform this is for you. This is a great place to trade crypto and it has a great mobile platform. Selling is easy and the spot prices are exact. The simplicity of this service and the versatility and ability of Phemex make it priceless.

by Teaparty1983

Only for a week, when you are forced to take a free week trial of the premium service

by Elijah366

I bought some coins worth $80 it’s been 2 days now and they aren’t allowing me withdraw my coins

by _rvish

nowadays everyone look for a fast and user friendly app! although the website and idea is perfect but ios app is dumb unfortunetly

by Jsphjasso

I should say Yes. It pretends to be.. but not really. 100% national

by CobraDude71

Would really like dark mode added. Thanks

by Seppo22

Great app for the iPhone. Really good UI/UX. But they need a landscape version for iPad. Please!

by KyleHatch21

It’s a somewhat barebones app, but it doesn’t feel glitchy and seems to just work. I would LOVE dark mode. Give me dark mode and I update to five stars.

by Shaho Diz

this app App is very fast and I like trading on it. They have an outstanding and fast responding customer service. You can also trade Gold on Phemex . Plus they have 80$ welcome bonus.

by Btctrader01

The new version has improved a lot, the dark mode is needed

by Ademola112

Phemex look really good.. I love the dark mode but I wish to know and earn more about this app love you guys 😘

by SGT Chew

I like how it says its for ages 4 and up. Next year I’ll get my kid started trading leveraged derivatives for her birthday.

by Chief Deadly

This is a really good app. They have a wide variety of alt-coins and they have Bitcoin to trade. Their 24/7 support is amazing and very helpful. They also have these challenges that people compete with to get anywhere from 50$ for attending a YouTube video to meme contests. They also listen very well to the community . I would also recommend this to anyone who just started trading. They offer up to 100x leverage for BTC and 20x for Altcoins which is amazing. They also have tournaments from time to time which is very good to earn some BTC.