Hugely disappointed in Phemex. Looked a good exchange, put in contract to represent them and all was going well until they needed to pay me money for hitting targets.. they terminated the contract im... See more
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I would steer clear of Phemex, one of the worst leveraged trading platforms there is. I am a successful trader with high percentage of wins. Once the platform recognised this, the app then begins to m... See more
Took my SOL happily, made it a nightmare to withdraw my own funds. Honesty I'm sick of using CEX, I am going to use DEX from now on because all this 2FA, KYC, 24 hour withdrawal holds, security checks... See more
Company replied
Phemex lures people in with promises of large sign-up bonuses, but there are very significant strings attached to virtually all of the offers (e.g., a requirement that you have to trade a cumulati... See more
Company replied
Company details
Information provided by various external sources
Phemex is the fastest Bitcoin futures trading platform, founded by 8 Ex-Morgan Stanley Executives. No overload, no downtime. We provide 24/7 hours customer service support.
Contact info
Singapore
- phemex.com
You should know
2.3
Poor
269 reviews
Hasn’t replied to negative reviews
How this company uses Trustpilot
See how their reviews and ratings are sourced, scored, and moderated.
Poor customer service
Poor customer service, Handling time is ridiculous 3 weeks. Not recommended
April 26, 2025
Unprompted review
Reply from Phemex
Dear Tarek EL-Khatib,
We sincerely apologize for the delay you’ve experienced — three weeks is far from the level of service we aim to provide. We understand how frustrating this must be and appreciate you bringing it to our attention.
If your issue is still unresolved, please contact us at support@phemex.zendesk.com with your user ID or registered email so we can prioritize and assist you right away.
Thank you for your patience, and we’re committed to doing better.
Best regards,
Phemex Support Team
withdrawal is a struggle
withdrawal is a struggle, even trading is a struggle, what's the point of having a site like this? The name in my profile photo is available, if you have withdrawal issues they'll get your money out.
April 2, 2025
Unprompted review
Reply from Phemex
Dear Ian,
We’re sorry to hear about your experience and truly understand your frustration. Trading and withdrawals should be smooth, and it’s concerning to hear that this hasn’t been the case for you.
We’d love the chance to look into your account and help resolve these issues as quickly as possible. Please reach out to us at support@phemex.zendesk.com with your user ID or registered email so we can assist you directly.
Your feedback matters, and we’re committed to improving your experience.
Best regards,
Phemex Support Team
❗️I wanted to learn trading – Phemex showed false profits, I lost €6,800
I joined Phemex with the goal of learning how to trade.
After some time, I noticed something strange: the Estimated PnL (profit/loss display) wasn’t accurate.
For example, the platform showed me +€127, but in reality, I lost money.
I closed trades thinking I was in profit – but I wasn’t.
I provided everything to support:
Screenshots
Videos
A specific trade ID from my history
I was able to prove multiple false PnL displays.
Phemex support acknowledged in writing that it was an algorithm error –
but they claimed it was an isolated issue affecting only my account.
Whether that’s credible, everyone can decide for themselves.
Personally, I find it very unlikely that a technical error like this only affects one user –
and then is later dismissed as a "design feature."
As a “solution”, I was offered a 50 USDT bonus, later increased to 100 USDT –
for a total loss of over €6,800 on the platform.
My trading fees alone exceeded €4,000,
but Phemex was never able or willing to explain how that amount was calculated.
Then the unbelievable happened:
The so-called “fixed” error occurred again – and I captured it on video once more.
After that, Phemex denied the error entirely, and told me something along the lines of:
"We’re not based in the EU – if you don’t like it, go ahead and sue us."
Conclusion
-False PnL display caused real financial damage
-Support was initially helpful, then evasive and dismissive
-Responsibility was dodged instead of accepted
My advice:
Never blindly trust PnL numbers on Phemex – and don’t count on real help if something goes wrong.
December 17, 2024
Reply from Phemex
Dear Eric,
Thank you for sharing your experience with us, and we’re deeply sorry to hear about the issues you’ve faced. We completely understand how frustrating it must be to experience inaccurate profit/loss displays, and we sincerely apologize for any financial loss and confusion caused by this situation.
We take all technical errors seriously and are committed to resolving them. While it was stated that the issue was isolated to your account, we understand your concerns and want to assure you that we are continuously working to improve our platform and address such matters.
We deeply regret that the support process didn’t meet your expectations, and we take your feedback to heart. We’ll continue to review our support processes to ensure they are more helpful and transparent moving forward.
If you would like to further discuss this, we encourage you to reach out to us directly with your registered email address or user ID. Please contact us at support@phemex.zendesk.com, and we’ll do everything we can to assist you.
We truly appreciate your patience and feedback as we work to improve.
The Phemex Team
Phemex Security Is Questionable At Best
So when you successfully add 2FA for security Phemex then kindly restrict withdrawal for 24hrs yet you can't withdraw funds unless 2FA is activated.....just another crooked platform keeping hold of your funds for their gain or their lack of funds no wonder withmplatforms.like this crypto has such a bad reputation.
Do yourselves a favour do not use Phemex
April 4, 2025
Unprompted review
Reply from Phemex
Dear Gary,
Thank you for sharing your concerns, and we’re sorry to hear about your experience. We understand how frustrating it can be when there are restrictions on withdrawals, especially after successfully setting up 2FA for added security. The 24-hour withdrawal restriction is a security measure to protect your account after enabling 2FA, and we apologize for any inconvenience this may have caused.
We take your feedback seriously, and we want to ensure that your funds are secure and accessible. If you're still having issues, please provide your registered email address or user ID so we can investigate and resolve the matter promptly.
Feel free to reach out directly at support@phemex.zendesk.com, and we'll do everything we can to assist you. We appreciate your patience.
The Phemex Team
phemex is a scam
phemex is a scam
dont use -
slow charts, slow execution of trades
and high fees will leave you working twice as hard .
its hurts so bad to put in the work reading charts checking different platforms keeping up with the latest news what ever you do to pick find your trades. get a good entry price go threw emotions of price going up and down then final get to being in profit cash out but on;y receive 1/3 of profit from your pnl wtf
its happen
March 30, 2025
Unprompted review
Reply from Phemex
Dear User,
Thank you for sharing your feedback, and we are truly sorry to hear about your negative experience. We understand how frustrating it can be to face issues with slow charts, execution, and unexpected fee deductions, especially after putting in the time and effort to analyze and trade.
We take these concerns very seriously and want to ensure a fair and smooth experience for all our users. Could you please provide us with your registered email address or user ID so we can investigate the details of your case further and offer a resolution?
Feel free to reach out to us at support@phemex.zendesk.com, and we’ll do everything we can to assist you. We appreciate your patience as we work to improve our platform.
The Phemex Team
Complain to the name of my display…
Complain to the name of my display picture for help of your funds from scam
January 10, 2025
Unprompted review
Reply from Phemex
Dear Sherry,
Thank you for sharing your feedback. We are very sorry to hear about your experience and understand the frustration caused by issues related to your funds. We take these matters very seriously and are committed to ensuring the safety and security of all our users.
Could you please provide us with your registered email address or user ID so we can look into your case and offer further assistance? We want to resolve this issue as soon as possible and make sure your concerns are addressed.
Please feel free to reach out to us directly at support@phemex.zendesk.com, and we will do everything we can to help. We truly appreciate your patience.
The Phemex Team
Will hold your funds hostage
I used to enjoy the platform until they held my funds due to "security reason" even though it was from a wallet I have used multiple time before! It has been a month and I'm still waiting for funds to be returned and they won't tell me when I'll receive, this is unacceptable.
February 27, 2025
Unprompted review
Reply from Phemex
Dear User,
Thank you for sharing your feedback, and we’re truly sorry to hear about your experience. We completely understand how frustrating it must be to have your funds held, especially when they are from a wallet you have used multiple times before. We sincerely apologize for any inconvenience this has caused.
We take security matters very seriously and work to ensure the safety of all users’ funds. However, we understand that waiting for a resolution can be distressing. Could you please provide your registered email address or user ID so we can investigate your case further and give you an update on the status of your funds? We’re committed to resolving this issue as quickly as possible.
Feel free to reach out to us directly at support@phemex.zendesk.com, and we’ll do everything we can to assist you. Again, we’re sorry for any frustration this has caused, and we appreciate your patience as we work to resolve this.
The Phemex Team
great and nice trading platform
great and nice trading platform, support always very helpful and fast
February 25, 2025
Unprompted review
Reply from Phemex
Dear User,
Thank you for your kind words! We’re thrilled to hear that you’re happy with our trading platform and that our support team has been helpful and fast. We always strive to provide quick and efficient assistance.
If you ever need further help or have any suggestions, don’t hesitate to reach out. We’re always here to assist you!
Best regards,
Phemex Support Team
Be careful who you trade for.....High slippage fees!
I lost 30k with this platform. When you have a platform that charges high slippage fees, it is impossible to profit on a small timeframe or even scalping. Crypto is highly volitile asset and you need a longer time until you can profit but it is impossible when the price action swings with unpreditability in which scalping was the correct action to take. And get this, the price does not even match with Trading View. So, there is possibility that their employees are manipulating the market and have their own individual charts programmed for just their users to take their money. Cypto trading is not what it used to be as they are institutionalized.
BEWARE NOT ALL BROKERS ARE NOT GOOD AND THEY PROFIT BY TAKING YOUR MONEY!!!
#MTGOXEvolved
December 15, 2024
Unprompted review
Reply from Phemex
Hi, RL.
We sincerely apologize for the frustration you have experienced and for any inconvenience caused. We understand your concerns regarding trading on our platform.
Unfortunately, we are unable to address your case here due to insufficient information. Kindly reach out to us directly at support@phemex.zendesk.com and we will respond promptly.
Once again, we sincerely apologize for any inconvenience caused, and we are here to assist you in resolving this issue.
Asked for chart feature to be fixed
Asked for chart feature to be fixed. Customer service was great in assisting with request.
February 9, 2025
Unprompted review
Reply from Phemex
Dear User,
Thank you for your kind words! We're delighted to hear that our customer service team was able to assist you with your request. Your feedback motivates us to keep providing the best support possible.
If you ever need further assistance or have more suggestions, feel free to reach out. We're always happy to help!
Best regards,
Phemex Support Team
Missing Crypto!
I transferred crypto to my sons account, all data verified as correct and it never arrived !!!
February 3, 2025
Unprompted review
Reply from Phemex
Dear User,
We understand how concerning this situation must be, and we sincerely apologize for any inconvenience. If the transaction details were correct but the funds haven't arrived, we’d like to investigate this further for you.
Could you please provide the transaction ID (TXID) and your son's registered email or user ID? This will allow us to check the status and assist you accordingly.
You can also reach our support team directly at support@phemex.zendesk.com for further assistance. We appreciate your patience and will do our best to resolve this as soon as possible.
Best regards,
Phemex Support Team
These guys are fraudsters
These guys are fraudsters, covering up with fake positive reviews, unfortunately I fell victim and lost $225,000 they became unresponsive, had to report to Rose Lane GP.
November 15, 2024
Unprompted review
Reply from Phemex
Dear User,
Thank you for sharing your feedback, and we're really sorry to hear about your experience. We completely understand how upsetting it can be to feel taken advantage of, and we sincerely apologize for any frustration or financial loss you’ve gone through.
We take situations like this very seriously, and we’d like to look into what happened in your case. Could you please provide your registered email address or user ID so we can investigate further? We’re committed to making sure our platform is a safe and trustworthy space for everyone.
Feel free to reach out to us directly at support@phemex.zendesk.com, and we’ll do everything we can to assist you. Again, we’re truly sorry for any inconvenience, and we really appreciate your patience as we work to resolve this.
The Phemex Team
orders often not filled
orders often not filled, much faster and better at Binance, sorry but no sorry, super annoying
January 27, 2025
Unprompted review
Reply from Phemex
Thank you for sharing your feedback. We understand how important a smooth trading experience is and appreciate your perspective.
Order execution speed and liquidity can vary depending on market conditions, trading pairs, and overall demand. If you’re experiencing frequent issues with orders not being filled, we’d be happy to review your case and offer guidance on optimizing your trading strategy on our platform.
Please feel free to provide more details, such as the trading pair and order ID, so we can assist you further. You can reach us anytime via email at support@phemex.zendesk.com or through our live chat channel at Phemex.com.
Your insights help us improve, and we appreciate your patience.
𝔞 𝔟 𝔰𝔬 𝔯𝔟𝔰 .𝔠𝔩 𝔬 𝔲𝔡
They block my account even after sending them my KYC document, was told by my header that it their mode of operation when they settled my take out !ssues
January 16, 2025
Unprompted review
Reply from Phemex
Dear Meghan,
Thank you for reaching out to us. We understand your concern regarding your account status.
Please provide us with your UID or registered email so we can check your case further. You can also reach our support team directly via email at support@phemex.zendesk.com or through our live chat at Phemex.com.
We appreciate your patience and will do our best to assist you.
Recently they got hacked
Recently they got hacked, imma admit i was scared my funds wouldnt arrive today they assured me that it will be credited within 24Hours, considering they got hacked for 69M last week this is realy good.alot other exchanges wouldve ended up not paying at all. So job well done phemex.
January 27, 2025
Unprompted review
Reply from Phemex
Hi Smokey,
Thank you for your thoughtful message! We understand how concerning the situation must have been, and we're truly grateful for your trust and patience during this time.
Despite the challenges, we're glad we could provide the assurance and make sure your funds were credited within the promised time frame. We take the security of our users very seriously and are working hard to ensure that everything continues to run smoothly.
Your feedback means a lot to us, and we're here if you need anything further. Thank you for being a valued Phemex user!
The worst trading platform ever
The worst trading platform ever, nothing works here only deposit, they take your funds and that is it. Withdraw never works, display picture aided my withdraw. DO NOT TRADE ON THIS PLATFORM.
January 6, 2025
Unprompted review
Reply from Phemex
Hello Jade,
We’re sorry to hear about your experience and understand your frustration. Please be assured that Phemex operates with full transparency, and withdrawals function normally. If you’re encountering any issues, we’d be happy to assist you in resolving them.
Could you please provide us with more details, such as your withdrawal transaction ID or any error messages you’re seeing? Our team is ready to investigate and ensure your funds are processed correctly.
For immediate support, you can also reach us at support@phemex.zendesk.com or through our live chat at Phemex.com.
Looking forward to assisting you.
Most disappointing trading platform…
The most disappointing trading platform I’ve ever used:
• Trading features are inconvenient and unreliable.
• Bots fail to function as expected and cause constant frustration.
• The support team, while friendly and polite, lacks any problem-solving orientation. Despite over 1.5 years of usage and submitting more than 100 support tickets, none of the issues have been resolved.
This platform is, without a doubt, the worst trading experience I’ve ever encountered.
January 24, 2025
Unprompted review
Reply from Phemex
We’re sorry to hear that your experience with Phemex has been frustrating. We truly appreciate your patience and your detailed feedback.
We want to improve and address any unresolved issues. If you could share specific ticket IDs or key concerns that remain outstanding, we will escalate them to ensure they receive proper attention. Your input helps us enhance our platform and services.
Please feel free to reach out to us at support@phemex.zendesk.com or via live chat at Phemex.com, and we’ll do our best to assist you.
Most worse trading platform with…
Most worse trading platform with maximum un-interested and not problem-solving oriented support I have ever experienced.
Not conveniently working trading
Not properly working bots
Support happy and friendly and polite, but total crap as problems does not get solved within 1.5 years (and 100+ support tickets) of usage of the platform.
Worst trading platform I have ever expierenced
January 23, 2025
Unprompted review
Reply from Phemex
Dear FundRazor,
We sincerely regret that your experience with Phemex has not met your expectations. Your feedback is valuable, and we truly appreciate your patience.
We understand the frustration of unresolved issues, and we would like to take a closer look to ensure we address your concerns effectively. If you could provide us with specific ticket IDs or details about the key issues you're facing, we will escalate them to the relevant teams for further review.
Our goal is to provide a seamless trading experience, and we are committed to improving our platform based on user feedback. Please feel free to reach out to us at support@phemex.zendesk.com or via our live chat at Phemex.com, and we will do our best to assist you.
Great customer service
Great customer service; timely responses and effective communication. Keep it up phemex bc most exchanges have horrible customer relations.
January 8, 2025
Unprompted review
Reply from Phemex
Thank you so much for your kind words and for taking the time to share your feedback with us! We're thrilled to hear that you had a positive experience with our customer service team and that our timely responses and communication stood out to you.
At Phemex, we’re dedicated to providing exceptional support to all of our users, and it means a lot to hear that our efforts are making a difference. Your encouragement inspires us to keep raising the bar in customer service, especially in an industry where trust and communication are key.
Thank you again for your support and for being part of the Phemex community—we truly appreciate it!
Kind regards,
The Phemex Team
Great exchange for all traders
Phemex is brilliant! I have been using their exchange for a while and haven't had any issues. In fact, as a new trader entering the world of crypto for the first time, Phemex has been nothing but a lifesaver. I would highly recommend Phemex as the exchange for anyone looking to become a full-time trader or as a side hustle. The UI interface is brilliant, the exchange is secure and the customer service is on hand to help you with any queries.
January 4, 2025
Unprompted review
Reply from Phemex
Thank you so much for sharing your experience with us! We're absolutely delighted to hear that you've had such a positive journey with Phemex. It’s wonderful to know that our platform has been a valuable resource for you as you navigate the world of crypto trading.
We’re especially glad that you find our UI, security, and customer service to be meeting your expectations. Providing a secure and seamless experience, along with prompt support, remains our top priority.
If you ever need assistance or have any questions in the future, please don’t hesitate to reach out. We truly appreciate your recommendation and look forward to supporting your trading journey for many years to come!
Kind regards,
The Phemex Team
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