Market Cap
$2.68T
0.23%
24h Vol.
$70.77B
Dom.
58.47%
BTC
$78,207.00
0.27%
ETH
$2,304.00
0.03%
ETH Gas
Low
Avarage
High
Data by Etherscan
Fear & Greed
39
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      Phemex Exchange Logo

      Phemex Exchange Social Audit & Trust Score

      24H volume
      $652.913M (8,348₿)
      Markets
      409
      Year Established
      2019
      Country
      Singapore
      Token
      PT
      Links

      Phemex Exchange Social Audit

      OG Score

      Only Verified Crypto OGs Can Rate
      Reviews 4
      OG Score Rank #24

      OGAudit Exchange Evaluation Metrics

      Usability 36 .05
      Usability Reflects user experience, platform navigation, tool accessibility, and compatibility across devices..
      Insurance 18 .68
      Insurance Assesses whether user funds are covered by insurance and the credibility of the insurance provider.
      Fees 31 .03
      Fees Evaluates trading and withdrawal fees, transparency of fee structure, and any available discounts.
      Speed 28 .67
      Speed Measures deposit and withdrawal speeds, platform responsiveness, and performance under load.
      Liquidity 26 .80
      Liquidity Indicates order book depth, trade volume, and ability to handle large orders efficiently.
      Security 18 .75
      Security Examines platform security features, history of breaches, and protection of user funds and data.

      Phemex Expert User Reviews

      Is Phemex reliable and safe for your funds? Read unfiltered reviews from verified Crypto OGs

      Only Verified Crypto OGs Can Publish Reviews
      Anti rug
      Anti rug 28 Mar 2026 - 21:48 0xb47...1250d
      OG Score 22.07

      This exchange fails the Infrastructure and Trust pillars due to its stagnant public GitHub and the $85M hack of 2025 (Though The company covered all user losses and subsequently upgraded its security architecture). But without open-source transparency or top tier regulation (evidenced by FCA warning), users are trading on a platform with "hidden" vulnerabilities. It is a powerful tool for short-term scalping but a dangerous "Vault" for wealth. https://gist.github.com/gaudy415/d06027fa54d57a6b0150abd63198335e (hack) https://www.fca.org.uk/news/warnings/phemex (FCA warning)

      Phemex Logo Phemex
      CryptoAPE
      CryptoAPE 16 Mar 2026 - 05:43 0x4f5...5f294
      OG Score 36.10

      They hit the scene in 2019, built by former Morgan Stanley executive Jack Tao. I have always respected their trading technology. Their matching engine was explicitly designed for hardcore derivatives traders, and it shows. If you are trading futures, their base fees are highly competitive at 0.01% Maker and 0.06% Taker. But here is the harsh reality. As a crypto guru, I cannot ignore the massive red flag in their history. In January 2025, Phemex suffered a catastrophic security breach. Suspected North Korean hackers breached their hot wallets and drained roughly $70 million across multiple blockchains*. Yes, the exchange quickly paused operations, verified their cold storage, and covered the user losses out of pocket, but the aura of invincibility is completely gone. *https://www.theblock.co/post/336754/north-korea-hack-group-possibly-behind-70-million-phemex-exploit-experts-say Report about sudden withdrawal freezes, disputes over convoluted bonus programs, still appears on complaint platforms but not as much like others they still hold 2.3/5 there https://www.trustpilot.com/review/phemex.com Phemex still offers a lightning fast derivatives engine with great fees, liquidity and perp orderbook depth is fair. But make sure you take the profits out. Only transfer cash when you want to trade. Remember! not your keys not your money!

      Phemex Logo Phemex
      Faithistics
      Faithistics 19 Jan 2026 - 03:15 0xd12...ca419
      OG Score 24.42

      The were a victim of one 2025 hack which understandably shook some trust even with reimbursement, and support but can feel slow on edge cases like bans. They could improve on fiat withdrawal fees and clearer KYC/bonus rules to cut down on distrust.

      Phemex Logo Phemex
      aabashweb3
      aabashweb3 20 Dec 2025 - 19:27 0x8d3...061b3
      OG Score 24.07

      Traders love the 100x leverage on perpetual contracts for maximizing potential gains. Good UI. But recent complaints by users freezing of account after hitting high profit trades. Be cautious with trading high amount of money there.

      Phemex Logo Phemex

      Top Traded Market Pairs on Phemex

      Coin Pair Price Change Volume Market cap OG Score
      Bitcoin LogoBitcoin
      BTC/USDT
      $78,207.00
      0.27%
      $30,743,242,501
      $1,565,773,748,452
      71.45
      Ethereum LogoEthereum
      ETH/USDT
      $2,304.00
      0.03%
      $9,384,239,315
      $278,065,076,374
      62.08
      Tether LogoTether
      BTC/USDT
      $0.9998
      0.01%
      $46,770,902,806
      $189,547,553,641
      33.54
      XRP LogoXRP
      XRP/USDT
      $1.39
      0.2%
      $1,313,520,893
      $85,572,035,518
      47.12
      USDC LogoUSDC
      USDC/USDT
      $0.9999
      0.02%
      $8,834,525,051
      $77,224,211,398
      40.86
      Solana LogoSolana
      SOL/USDT
      $83.89
      0.5%
      $2,208,283,047
      $48,338,611,151
      63.97
      TRON LogoTRON
      TRX/USDT
      $0.3306
      1.23%
      $436,376,080
      $31,333,546,257
      29.10
      Dogecoin LogoDogecoin
      DOGE/USDT
      $0.1076
      1.06%
      $1,468,329,890
      $16,581,099,803
      26.26
      Hyperliquid LogoHyperliquid
      HYPE/USDT
      $41.60
      1.67%
      $237,779,141
      $9,917,958,668
      46.94
      Cardano LogoCardano
      ADA/USDT
      $0.2481
      0.3%
      $236,758,951
      $9,176,490,292
      36.12
      Bitcoin Cash LogoBitcoin Cash
      BCH/USDT
      $445.50
      0.21%
      $136,045,432
      $8,923,018,181
      42.79
      Chainlink LogoChainlink
      LINK/USDT
      $9.08
      1.43%
      $194,143,301
      $6,605,843,259
      45.97
      Zcash LogoZcash
      ZEC/USDT
      $372.85
      6.41%
      $734,779,364
      $6,217,874,859
      53.20
      Canton LogoCanton
      CC/USDT
      $0.1493
      0.45%
      $6,775,440
      $5,737,579,620
      29.86
      Stellar LogoStellar
      XLM/USDC
      $0.1594
      0.67%
      $70,918,864
      $5,312,130,973
      40.61
      Stellar LogoStellar
      XLM/USDT
      $0.1594
      0.67%
      $70,918,864
      $5,312,130,973
      40.61
      USD1 LogoUSD1
      USD1/USDT
      $0.9996
      0.04%
      $714,564,088
      $4,516,715,445
      25.12
      Litecoin LogoLitecoin
      LTC/USDT
      $55.26
      0.12%
      $272,811,895
      $4,262,438,185
      43.62
      Avalanche LogoAvalanche
      AVAX/USDT
      $9.09
      0.84%
      $123,271,561
      $3,925,391,343
      60.75
      Ethena USDe LogoEthena USDe
      USDE/USDT
      $0.9990
      0.01%
      $55,000,659
      $3,894,481,029
      42.71
      Hedera LogoHedera
      HBAR/USDT
      $0.08778
      0.35%
      $41,103,351
      $3,807,604,209
      62.54
      Shiba Inu LogoShiba Inu
      SHIB/USDT
      $0.0<sub title="$0.00000626">5</sub>6260
      1.27%
      $102,523,558
      $3,685,424,872
      21.37
      Sui LogoSui
      SUI/USDT
      $0.9179
      0.1%
      $212,034,351
      $3,676,555,027
      46.17
      Toncoin LogoToncoin
      TON/USDT
      $1.33
      0.64%
      $68,903,430
      $3,451,018,178
      57.92
      Cronos LogoCronos
      CRO/USDT
      $0.06838
      0.41%
      $7,738,242
      $2,978,989,364
      35.54
      Bittensor LogoBittensor
      TAO/USDT
      $276.57
      4.56%
      $268,530,610
      $2,654,463,221
      56.45
      PAX Gold LogoPAX Gold
      PAXG/USDT
      $4,602.90
      0.35%
      $87,885,307
      $2,205,542,706
      41.44
      Uniswap LogoUniswap
      UNI/USDT
      $3.22
      0.3%
      $105,833,278
      $2,041,536,820
      68.85
      Polkadot LogoPolkadot
      DOT/USDT
      $1.21
      0.08%
      $113,402,865
      $2,028,638,480
      48.87
      Polkadot LogoPolkadot
      DOT/USDC
      $1.21
      0.08%
      $113,402,865
      $2,028,638,480
      48.87
      Sky LogoSky
      SKY/USDT
      $0.08112
      0.72%
      $7,349,916
      $1,882,619,095
      43.07
      World Liberty Financial LogoWorld Liberty Financial
      WLFI/USDT
      $0.05493
      2.66%
      $132,530,131
      $1,747,196,138
      5.70
      Aster LogoAster
      ASTER/USDT
      $0.6571
      0.32%
      $120,378,577
      $1,693,128,142
      17.29
      NEAR Protocol LogoNEAR Protocol
      NEAR/USDT
      $1.28
      1.84%
      $91,883,313
      $1,660,649,730
      54.11
      Pepe LogoPepe
      PEPE/USDT
      $0.0<sub title="$0.00000392">5</sub>3920
      0.67%
      $219,845,250
      $1,649,926,566
      25.60
      Aave LogoAave
      AAVE/USDT
      $92.19
      1.11%
      $203,505,868
      $1,399,304,079
      53.34
      Ondo LogoOndo
      ONDO/USDT
      $0.2751
      3.21%
      $67,325,561
      $1,339,578,242
      44.09
      Ethereum Classic LogoEthereum Classic
      ETC/USDT
      $8.48
      0.22%
      $33,029,143
      $1,327,629,101
      34.49
      Internet Computer LogoInternet Computer
      ICP/USDT
      $2.34
      1.48%
      $27,463,708
      $1,290,825,603
      40.98
      Morpho LogoMorpho
      MORPHO/USDT
      $1.99
      0.46%
      $9,728,561
      $1,204,859,351
      39.11
      POL (ex-MATIC) LogoPOL (ex-MATIC)
      POL/USDT
      $0.09694
      2.85%
      $44,043,259
      $1,031,026,794
      56.86
      Quant LogoQuant
      QNT/USDT
      $68.48
      0.79%
      $6,722,857
      $995,674,683
      49.33
      Algorand LogoAlgorand
      ALGO/USDT
      $0.1072
      0.23%
      $26,982,027
      $954,647,685
      38.02
      Cosmos Hub LogoCosmos Hub
      ATOM/USDT
      $1.87
      1.06%
      $38,755,286
      $948,971,828
      58.50
      Cosmos Hub LogoCosmos Hub
      ATOM/USDC
      $1.87
      1.06%
      $38,755,286
      $948,971,828
      58.50
      NEXO LogoNEXO
      NEXO/USDT
      $0.9020
      0.68%
      $6,207,848
      $902,344,237
      39.37
      Render LogoRender
      RENDER/USDT
      $1.72
      1%
      $31,496,612
      $892,031,347
      64.81
      Ethena LogoEthena
      ENA/USDT
      $0.1014
      2.07%
      $81,082,012
      $887,984,962
      43.78
      Kaspa LogoKaspa
      KAS/USDT
      $0.03239
      0.72%
      $10,421,625
      $887,820,376
      54.31
      Aptos LogoAptos
      APT/USDT
      $0.9955
      1.26%
      $82,726,996
      $803,469,517
      46.65

      About Phemex

      Website
      Socials
      Year Established 2019
      Country Singapore
      Founder Jack Tao Federico Variola
      CEO Federico Variola

      Platform Background & Leadership

      Founded November 2019 in Singapore by Jack Tao (former Morgan Stanley executive). CEO Federico Variola. 600+ assets, 10+ million users as of early 2026. MSB registration with FinCEN, VASP license in Lithuania. In 2026, expanded into tokenized TradFi products (stocks and precious metals via USDT perpetual futures) and upgraded futures engine to 40,000 TPS.

      Security Track Record

      In January 2025, hackers (suspected North Korean) breached hot wallets and stole $69-85 million across 16 blockchains (TheBlock: Phemex Hack). Phemex paused operations, verified cold storage and covered all losses. No permanent user fund loss. Fast response, but the breach permanently damaged the platform's security reputation.

      Publishes PoR for select assets. Trustpilot rating 2.3/5 with reports of withdrawal freezes and bonus disputes. Multiple OG reviewers flagged account freezes after high-profit trades (ForkLog: Phemex 2026 Review).

      Based on 4 community reviews, Phemex sits at an OG Score of 26.66. Recognized for its fast derivatives engine and competitive futures fees, but the 2025 hack and user complaints about withdrawal freezes are primary trust concerns. As one reviewer put it: "Transfer cash when you want to trade, take profits out."

      Phemex Fees & Fee Structure

      Spot: 0.10% maker, 0.10% taker. Contract: 0.01% maker, 0.06% taker, among the most attractive rates for futures traders. PT token provides further reductions. BTC withdrawal fee: 0.0004 BTC. Watch for chain-specific withdrawal fees that quietly reduce net savings.

      Staking & Earn Products

      Promotions (limited-time, high-yield, fills quickly) and Savings (flexible-rate). Up to 15% APY promoted but short-lived and limited capacity. Affiliate program: 30% perpetual commission, more generous than most. Learn & Earn program.

      Trading Experience & Platform Features

      Core strength is derivatives. The platform previously marketed 300,000 TPS, but the verified March 2026 upgrade established actual capacity at 40,000 TPS with sub-millisecond response, still robust for an institutional-grade engine. Standard charting, order books, multiple order types. Smooth desktop-to-mobile transition. Spot, perpetual futures (100x), copy trading, bots, TradFi futures.

      To bring you this Phemex breakdown, we reviewed public sources like the Phemex Official Website, Phemex X (Twitter) Account,. We provide these insights strictly for education and research, not as professional trading advice. If something looks incorrect or out of date, drop us a line through our contact form.
      Read More

      Fees

      # Listed Coins 396
      # Pairs 409
      Spot Trading Fees* (Maker / Taker) 0.10% / 0.10%
      Futures Trading Fees* (Maker / Taker) 0.01% / 0.06%
      Margin Trading
      * For the most up-to-date exchange fee information, please visit the official website of the exchange.

      Phemex Community Sentiment

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