NMLSRegulated
United States Crypto Asset Transfer License (MTL)
Phemex
Regulated in United States
Crypto Asset Transfer License (MTL)
Global Business
Basic Information
Country/RegionUnited Kingdom
Exchange AbbreviationPhemex
Company NamePhemex
Operating Period5-10 years
Websitehttps://phemex.com/
Exchange TypeDecentralized Exchange
RiskNotice
3 risk alerts
- License No.
- 2222013
- Regulatory Jurisdiction
- United States
- Licensed Entity
- Phemex LTD
- Effective Date
- 2020-07-10
- Sharing Status
- No
User Feedback
3
Phemex primarily focuses on offering derivatives trading, including perpetual contracts, which are similar to futures contracts but without an expiration date, and options contracts that provide users the right to buy or sell assets at a predetermined price.
I deposited on 18th. The customer service did not reply to my withdrawal.
Asset Reserves
Exchanges with reserves exceeding 63.32%
23 /100
$250,120,000
USDT$98.68M
Capital flows
Exchanges with 24H inflows exceeding 60.77%
21 /100
+$790,503.35
0.32% StableTrading Volume
Exchanges with 24H trading volume exceeding 83.17%
56 /100
$597,510,000
3.38% | Currency/Name | Trade | Unit Price | Change | 24H Vol | +2%/-2% Market Depth | Liquidity |
|---|---|---|---|---|---|---|
 | BTC/USDT | $64,738.84 | 0.46% | $284,444,389.84 | $21.33M/$13.49M | 668 |
| ETH/USDT | $1,914.21 | 0.23% | $86,735,009.24 | $13.32M/$11.59M | 668 |
| USDC/USDT | $0.9996928 | 0.03% | $37,288,612.01 | $4.67M/$3.12M | 570 |
| TRX/USDT | $0.33426354 | 1.20% | $18,972,176.31 | $2.81M/$2.52M | 464 |
| SOL/USDT | $77.18 | 1.44% | $14,645,431.09 | $3.14M/$2.41M | 550 |
| XRP/USDT | $1.00 | 0.07% | $14,123,211.61 | $6.24M/$5.10M | 601 |
| USD1/USDT | $0.99861851 | 0.02% | $7,776,077.25 | $1.93M/$1.27M | 504 |
| HYPE/USDT | $58.53 | 1.08% | $4,151,894.73 | $318.45K/$198.16K | 405 |
| ZEC/USDT | $506.89 | 1.09% | $3,553,286.72 | $213.97K/$189.33K | 366 |
| BCH/USDT | $204.15 | 0.46% | $3,449,247.84 | $179.25K/$220.80K | 364 |
Exchange Overview
Exchange Overview
What Is Phemex?
Phemex is a user-first cryptocurrency exchange serving over 10 million traders worldwide. Founded in 2019 by former Morgan Stanley executives, the platform combines institutional-grade infrastructure with accessible tools for traders at all levels. Phemex offers spot and derivatives trading, copy trading, wealth management, and fiat services — all backed by 99.999% uptime and ultra-low latency execution (5-10ms).
The exchange maintains 100% Proof-of-Reserves with Merkle Tree Verification, ensuring complete transparency. With 600+ spot trading pairs, up to 100x leverage on derivatives, and a thriving copy trading community of 17,000+ experienced traders, Phemex delivers professional-grade tools with a customer-centric approach.
Who Are the Phemex Founders?
Phemex was founded by former senior executives from Morgan Stanley who brought their Wall Street expertise to the crypto industry. The founding team saw the need for a platform that challenged the inefficiencies and exclusivity of traditional finance while putting users first. Their vision was to create an exchange that combined institutional-grade infrastructure with inclusive access, ensuring that everyone, regardless of background, can access the same financial tools and opportunities.
When Did Phemex Launch?
Phemex was founded in November 2019 and has grown to serve over 10 million users globally with strong presence across Eastern Europe, Latin America, MENA, and Southeast Asia.
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Where Is Phemex Located?
Phemex is registered in the British Virgin Islands under Phemex Ltd, and operates with a remote-first, decentralized structure serving users globally. The company maintains an international presence with localized teams in key markets across multiple continents.
Phemex Restricted Countries
Phemex serves users worldwide, though services are restricted in certain jurisdictions due to regulatory compliance. For the current list of restricted territories, please refer to Phemex's Terms of Use. For fiat deposit and withdrawal restrictions, see the List of Supported and Restricted Countries for Fiat.
What Coins Are Supported on Phemex?
Phemex offers 600+ spot trading pairs and 500+ futures trading pairs. Popular cryptocurrencies include: BTC, ETH, USDT, USDC, BNB, SOL, XRP, ADA, DOGE, AVAX, MATIC, DOT, LINK, LTC, SHIB, UNI, ATOM, APE, AAVE, MANA, FTM, SAND, COMP, ZEC, and more.
How Much Are Phemex Fees?
Phemex maintains competitive and transparent fee structures designed to accommodate traders at all levels. The platform offers volume-based discounts for high-frequency traders and charges zero fees on cryptocurrency deposits to trading accounts. Withdrawal fees vary by asset and network conditions. For complete and current fee details, visit Phemex's Fee Structure.
Is It Possible To Use Leverage or Margin Trading on Phemex?
Yes, Phemex offers comprehensive leveraged trading. Futures: Up to 100x leverage on USDT-margined and coin-margined perpetuals with unified margin system. Margin Trading: Cross-margin and isolated margin modes with advanced order types including OCO orders and trailing stops. Automation: Grid bots, Martingale strategies, copy trading with 17,000+ traders, and basket orders.
Business Region
InfluenceA0
2
4
6
8
10
Deposit/Withdrawal
Trade TypeP2P
InstrumentExpress
Supported Fiat
Minimum Deposit$50
Payment MethodSWIFT、SEPA、FASTERPAYMENTS、VISA、MASTER、ACH、Wire Transfer、Legend、MASTERCARD、Credit/Debit Card、Mercuryo
News
4
Crypto Exchange Phemex Faces $37M Security Breach Amid Rising Threats
Phemex halts withdrawals after $37M breach, urging exchanges to prioritize stronger wallet security and user trust.Rising crypto attacks expose industry vulnerabilities, pushing exchanges to adopt proactive security measures and transparent practices.Innovations like Fireblocks dApp protection and industry partnerships highlight collaborative efforts to combat cyber threats. Cryptocurrency exchange Phemex has temporarily halted withdrawals after a breach led to a $37 million asset loss across multiple blockchains. The incident, first identified by Cyvers Alerts, revealed suspicious transactions involving Phemexs hot wallets on chains like Ethereum, Binance Smart Chain, and others. Further analysis uncovered additional impacts on Bitcoin and TRON, escalating the severity of the breach. Over $29M worth of digital assets have been transferred by suspicious addresses on chains including $BNB, $ETH, $OP, $POL, $BASE, and $ARB.… Immediate Response and Community Impact Phemex responded swiftly by suspending withdrawals to secure assets and initiating an emergency inspection of its systems. The exchange assured users that trading services remain unaffected. It also pledged to strengthen wallet security and provide a compensation plan. This decisive action underscores the urgency of robust security measures in protecting user funds. However, attacks of this magnitude and regularity highlight the weaknesses in the Bitcoin sector. The increasing complexity of cybercriminals is putting increasing pressure
$30 Million Hack Alert？ Crypto Exchange Phemex Suspends Withdrawals After Suspicious Transactions
Crypto exchange Phemex appears to have been the victim of a multi-million exploit on Thursday, according to online reports. Millions worth of USDT, USDC, Ethereum (ETH), and other crypto assets were stolen from the exchanges hot wallets, resulting in a temporary half of withdrawals. Phemex Suffers First Crypto Exchange Hack Of 2025 On Thursday morning, the first crypto exchange hack of the year hit the industry. Multiple reports revealed suspicious activity involving Phemexs hot wallets was taking place over several chains. Blockchain security firm Cyvvers shared on X it had detected multiple transactions to several suspicious wallets on different chains, “including BNB, ETH, OP, POL, BASE, and ARB.” The security firms initial report stated that over $29 million worth of crypto had been transferred to the suspicious addresses, later raising the sum. “Upon deeper analysis, it has come to light that both BTC and TRON blockchains have also been impacted, with the estimated total loss now reaching approximately $37 million,” the update read. Cyvvers seemingly identified around 125 suspicious transactions spread across the different blockchains and noted that the attackers had started swapping the tokens to Ethereum (ETH) to avoid potential freezing measures. Meanwhile, on-chain data analysis firm Lookonchain broke down the crypto heist, stating that
Google reversing crypto ads ban a testament to blockchain market maturity?
Since 2018, tech giant Google has been in an on-and-off relationship with crypto, but can the latest favorable outlook stick？ The term “unpredictable” has almost become synonymous with the crypto industry at this point, as was on full display recently when technology juggernaut Google decided to un-ban digital asset exchanges from using its advertisement services after a lengthy period of almost three years. In this regard, a policy update blog released by the firm stated that come Aug. 3, it will once again allow crypto exchange and wallet operators to advertise “those products and services that are certified by Google.” In terms of the requirements that exchanges looking to advertise on the platform need to satisfy, Google requires applicants either to be registered with the Financial Crimes Enforcement Network, of FinCEN, as a money services business (with at least one state as a money transmitter) or with a “federal or state-chartered bank entity.” Though on paper, this may not seem to be much, the update can potentially allow prominent digital financial institutions — that seek to enable movement between physical and digital assets — to make use of Googles reach once again, thus enabling their products to gain exposure to an entirely new investor
