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.
My login, deposit/withdrawal, and their passive income system were blocked
I do not recommend and cannot tell you to use and trust this exchange. It looks quite attractive, but listen to my story.
I demand a response to this review, and if the situation changes, the review will be the opposite. When I created my account, I made a deposit, and later the exchange started kicking me out of my account, I wrote it off as some technical problems. Just in case, I decided to go through identity verification and started withdrawing funds, but my withdrawal did not want to be processed at all, it looked like it was checked manually. In less than 10 minutes, my login, deposit/withdrawal, and their passive income system were blocked, even though I hadn't even touched it. After that, I immediately contacted the support service, where I was again asked to provide documents, and they asked me to record a whole video with documents dated today and to voice the text "Unblock my account, my mail...". The support team accepted all this and said they were looking into it and conducting an investigation. At the moment, every time I contact the support service, I get a response that there is no deadline, and I am left with only breakfast and no specifics. The amount left on my account is significant enough to just forget about this story, so I will continue to press on, including by spreading the word among my community. At the moment, I have all the necessary evidence to substantiate my words, I leave my ticket #506958 and #506976
UPDATE! : : After more than a week had passed, the funds were returned. I have no strong comments, but the impression is appropriate
May 25, 2023
Reply from Phemex
Thank you for sharing your experience with us. We sincerely apologize for the inconvenience and frustration you've faced during this process. We understand how important it is for your funds to be accessible and are glad to hear that your issue has been resolved.
We value your feedback and will continue to improve our services to prevent such occurrences in the future. Should you encounter any further issues, please don’t hesitate to reach out to us directly at support@phemex.zendesk.com or via our 24/7 live support on Phemex.com.
Reply from Phemex
We're sorry to hear about your negative experience and the ongoing issue with your funds. We understand how frustrating this situation must be.
To help resolve this matter as quickly as possible, please provide your account ID and any relevant ticket number. You can reach us at support@phemex.zendesk.com or contact our 24/7 live support on Phemex.com.
We are committed to assisting you and ensuring your issue is addressed.
Reply from Phemex
We're sorry to hear about your negative experience and the ongoing issue with your funds. We understand how frustrating this situation must be.
To help resolve this matter as quickly as possible, please provide your account ID and any relevant ticket number. You can reach us at support@phemex.zendesk.com or contact our 24/7 live support on Phemex.com.
We are committed to assisting you and ensuring your issue is addressed.
FUNDS ON HOLD! Can't withdraw!!
DO NOT USE THEIR SERVICE!!! They will hold you funds for weeks and will not let you withdraw because the bitcoin address you're sending to is "RISK". I don't need their risk protection service when I have the police available. It takes them 5 days to reply your Zendesk support ticket. Stick with Coinbase.
Ticket number #480808.
December 19, 2022
Unprompted review
Reply from Phemex
Thank you for reaching out. We sincerely apologize for the frustration you’ve experienced. We’ve reviewed your case, and as per your request, the withdrawal was rejected.
We understand your concerns regarding the delay in communication and the security checks. Please be assured that these measures are in place to ensure the safety and integrity of your funds.
If you need further assistance or have any questions, feel free to reach out to our support team anytime. You can reach us directly at support@phemex.zendesk.com, or contact our 24/7 live customer support team on Phemex.com.
Phemex was recommended to me by a…
Phemex was recommended to me by a friend I met at a meetup as I was having difficulty with some of the other exchanges not always being able to logon or process trades, not always sure why? But I've had no issues with Phemex, seems to always work and all trades are processed in a timely manner.
November 6, 2022
Unprompted review
Reply from Phemex
Thank you for sharing your experience! We're happy to hear that Phemex has been reliable for you and that you've had smooth trading experiences. If you ever have any questions or need assistance, don’t hesitate to reach out. We're always here to help. Wishing you the best in your trading adventure!
One of best apps for shorting for sure
I personally find this platform good for managing my short positions. I'm using multiple APP to manage potfolio, and i quite like the stops and alert when i short a coin here. I wish they have more coin selection and better rates for buying in, so i can operate directly here.
if you know what you are doing, this app is nice and fast, you don't miss your window to sell in a plus or miss when you cut losses. that's the best part compare to the other ones.
October 19, 2022
Unprompted review
Reply from Phemex
Hi there, :)
Thank you for your insightful feedback! We're glad to hear that you find Phemex great for managing your short positions and appreciate the speed and reliability of the platform. We understand your wish for more coin options and better rates, and we’ll continue to work on improving our offerings.
If you ever need any assistance or have suggestions, feel free to reach out to us at support@phemex.zendesk.com.
Happy trading!
The Phemex Team
Good Platform
good platform, safe and agile, perfect for trading and learning about cryptocurrencies for free. It has several advantages such as customer service and how quickly new crypto lists are released.
October 18, 2022
Unprompted review
Reply from Phemex
Hi, Luis. Thank you for your kind feedback! We're glad to hear you're enjoying the platform. If you have any questions or need assistance, don't hesitate to reach out. Happy trading!
Best UI and UX futures interface
The futures interface is probably the best UI and UX there is out there in terms of crypto exchanges. The bonus is, when comparing rates, this exchange offers one of the most competitive rates out there amongst the top crypto derivatives exchanges. Their copy trading product also looks very promising.
October 18, 2022
Unprompted review
Reply from Phemex
Hi there Sergio, :)
Thank you for your amazing feedback! We’re thrilled to hear that you find our futures interface the best in terms of UI and UX, and that you’re impressed with our competitive rates and the copy trading feature. We’re constantly working to improve and offer the best experience for our users.
If you ever need assistance or have any suggestions, feel free to reach out to us at support@phemex.zendesk.com.
Happy trading!
The Phemex Team
Absolut worst exchange I ve ever…
Absolut worst exchange I ve ever traded. Works when you in minus to close positions but when you in plus nothing is working anymore. Feel betrayed!
DONT USE THIS EXCHANGE
October 16, 2022
Unprompted review
Reply from Phemex
We are sorry to hear about your dissatisfaction with your experience on our platform. We take your feedback seriously and would like to resolve any issues you're facing.
Please provide us with more details regarding your case so that we can assist you further. If you have any questions or require additional support, feel free to contact us at support@phemex.zendesk.com or through the 24/7 live chat on Phemex.com.
We hope to resolve your concerns promptly.
All-around good experience
I got to know about Phemex when i was doing some research on a coin (forgot which one) and came across one of their articles in the academy section, which was surprisingly educational and unbiased without shilling any coin. You can imagine how important this is for beginners like me! I then signed up for their $180 trading voucher and from then it was a pretty smooth experience, i had some issue with deposits but their Customer support was quick to respond. Hopefully market will pick up again soon and i can look forward to trading more!
June 20, 2022
Unprompted review
Reply from Phemex
Hi, Venerando. Thank you for sharing your experience with us! We're glad to hear that you found the Phemex Academy helpful and that our cs team was able to assist you quickly. We truly appreciate your feedback and are happy to have you as part of the Phemex community. If you need any assistance, don't hesitate to reach out. Happy trading and best of luck! 😊
I’m really new to the crypto game
I’m really new to the crypto game, a complete novice, but Phemex’s platform was really helpful! Loved their Academy and User Guides which helped me understand a lot about trading before diving into the belly of crypto itself! Love how there’s new happenings and events almost every day as well, it’s such a cheerful platform that I enjoy visiting.
September 23, 2022
Unprompted review
Reply from Phemex
hi, Emma. Thank you for sharing your experience! We're so glad to hear that Phemex's Academy and User Guides have helped you get started on your crypto journey. It's great to know you're enjoying the events and updates as well! If you ever have any questions or need further assistance, don't hesitate to reach out. Wishing you the best in your trading adventure!
I have a good experience with Phemex in…
I have a good experience with Phemex in general, it is a very good exchange to trade and it doesnt lag or anything and ive been using it for more than a year now. They dont have as much coins compared to some big exchanges but most popular cryptos are all available so thats good enough for me.
September 7, 2022
Unprompted review
Reply from Phemex
Hi there,
Thank you for your positive feedback! We’re happy to hear you’ve had a great experience with Phemex over the past year and that our platform has met your trading needs. We appreciate your support and are glad to offer the most popular cryptos for your trading experience.
If you ever need any assistance or have feedback, don’t hesitate to reach out to us at support@phemex.zendesk.com.
Happy trading!
The Phemex Team
Great product offerings
I’m quite new to crypto trading so I mainly do spot trade. Phemex added a lot of spot trading pairs recently and the overall experience is pretty smooth. I haven’t run into any problems. I also really like the Earn Crypto on Phemex where I put some coins in there to earn passive income. The APY% changes a lot, so you gotta pay attention to their page when they have a good deal.
July 25, 2022
Unprompted review
Reply from Phemex
Hi there, :)
Thank you for your great review! We’re so glad to hear that you’re enjoying the spot trading pairs and the Earn Crypto feature on Phemex. It’s awesome to know you’re making the most of the passive income opportunities. We’ll continue to keep you updated with the best deals, so stay tuned!
If you ever need any help or have questions, feel free to reach out to us at support@phemex.zendesk.com.
Happy trading!
The Phemex Team
Such a horrible onboarding experience
Such a horrible onboarding experience. Can't even complete the setup because their basic information field doesn't allow you to complete the address. How then do we finish completing the KYC. Gosh. Worse part is their support for livechat is non-existent.
September 17, 2022
Unprompted review
Reply from Phemex
Thank you for sharing your experience. We sincerely apologize for the inconvenience you have faced during the onboarding process. We understand how frustrating it can be when technical issues prevent you from completing your KYC verification.
We appreciate your feedback, and our team is currently looking into the issue you're experiencing with the address field. To resolve this quickly, we recommend reaching out to our support team through the following channels:
Support Email: support@phemex.zendesk.com
Live Chat: Available directly on Phemex.com
We are committed to improving our user experience and resolving any issues you may face as quickly as possible. Should you need further assistance, please feel free to contact us.
garbage
hell no r u kidding me your charts on tradingview dont even compare to the ones on the desktop, let alone your garbage phone app, not to mention the "market price" which correlates to nothing on the charts, every time you short, youre shorting from the bottom the minute candle started, not its current price or the fake "market price" which they can shift to their will im assuming since it doesnt match anything. ive taken out trades worth $400 dollars before with tight areas and this garbage will literally disconnect me from my app, AND my desktop for literally an hour, not like my internet isnt working or anything. if it wasnt the actual top or i wouldve been screwed. seriously though what is the market price garbage and why is it always so different than the actual price, why does it affect all of your trades in the opposite way, and what the hell is it. right now the current price of btc is 21555, if i were to short it, it would bring my shorting price down to 21550, if i were to go long, it would bring my entry price to 21564??? does this even factor into your brains or what is going on over in singapore cuz it sounds like a scam factory
September 11, 2022
Unprompted review
Reply from Phemex
Thank you for sharing your experience with us. We apologize for the difficulties you’ve encountered with the platform, and we understand how frustrating it can be when your trading experience doesn’t meet your expectations.
If you would like further clarification on these matters or assistance with any specific issues you’ve faced, please don’t hesitate to reach out to our support team at support@phemex.zendesk.com. We're here to help and ensure your concerns are addressed as quickly as possible.
Live Chat: Available directly on Phemex.com
Thank you for your patience and understanding.
Don't believe the advertisements
Don't believe the advertisements. I was lured to phemex same as most from the attractive bonuses and for me personally it was the amount of money you could make from staking and the Pools my experience started immediately south when I found out you can basically get 20 usd in bonuses unless your will to deposit 5000 or so and the 20 bonus you do get you can't do much of anything with I basically wanted to try phemex out basically so I started with depositing 100$ usd after I deposited I saw that there was a new launchpool being advertised saying basically you stake atleast $100 worth of $volt coin mind you before I did this I read that it said there's hardly any risk to launchpools I guess that is what you call what happened so basically staking this money for over I want ro say 10 or 11 days with 435.82% apy being distributed hourly in total I made 1 dollar and 50 cents honestly I was willing to swallow that amount of wasted time thinking hey atleast il have $112.50 because when I unstaked my volt that's exactly how much it said I had and for a couple of minutes it did sat I had 111 dollars but now my current amount is 88 dollars and 82 cents I don't know what happened so I checked the charts to see if there was any fluctuation in price, there wasn't in fact it actually raised in value since it said 111 dollars so I'm at a loss here I will be emailing them but I won't hold my breath my warning to you don't believe the things you read or see maybe you'll be able to save a little money not making my mistake thanks for reading
August 9, 2022
Unprompted review
Reply from Phemex
Dear Antonio Schrager,
we are very transparent about our welcome bonus conditions.
Please find all details here: https://phemex.com/bonus
https://phemex.com/getting-started/phemex-bonus-terms-and-conditions
https://phemex.com/getting-started/what-are-cashback-vouchers-and-cards
About the staking rewards with VOLT you can find the details here:
https://phemex.com/announcements/farm-volt-by-staking-volt-on-the-phemex-launchpool
Please do note, that crypto is very volatile and the price of VOLT has dropped the last days.
You can see it also in the graph: https://phemex.com/spot/trade/1000VOLTUSDT
If you have any further questions, please do not hesitate to contact us directly at www.phemex.com.
We are available 24/7 to help you further. Thank you.
Best regards,
Phemex Team
Trading difficulties
I had difficulties with trading and Phemex team solved my problem fast by email. I’ve got specific instructions even on attached pictures. My helper was very kind, I could feel the pleasant atmosphere through the words. Thank you for the experience. I am happy to be in Phemex community.
August 1, 2022
Unprompted review
Reply from Phemex
Hi there, :)
Thank you for your kind words! We’re so glad to hear that our team was able to quickly resolve your issue and provide clear, helpful instructions. It’s great to know you had a positive experience with our support team.
If you ever need further assistance or have any questions, don’t hesitate to reach out to us at support@phemex.zendesk.com.
We’re happy to have you in the Phemex community, and happy trading!
The Phemex Team
the company even runs a fake airdrop
guys, why are you lying at the moment, a new airdrop for the month of August is opened in telegrams, only to pay the airdrop, you need to transfer not 3 referrals, but 2. if you think logically, this bot is needed only by your platform and all the links in it lead to your platform. this bot will not be useful to anyone else, since money is not invested in it, but work is being done to attract customers and earn by clicks. but you decided that you are the smartest and also crazy. In fact, you are stealing the money that I earned. payments are provided for at the end of the month, but you turn on the restart on the 20th so as not to pay for the work. let the trustpilot look at this referral link and make sure that I'm right.
I still won't earn for the referral because they don't pay
August 1, 2022
Unprompted review
Reply from Phemex
Dear Женя,
we are very sorry to hear about your experience.
Please could you reach out
to phemex live support and tell the team which airdrop you mean? We are 24/7 available.
This is a way to tell whether the campaign, activities or airdrop is legit or not. You can also always find our newest campaigns here: https://phemex.com/announcements
As a general rule, you should not send bitcoin or crypto to anyone online.
⚠️ BEWARE OF SCAMMERS ⚠️
Anyone who offers to make you more money by sending them money is a scammer. If they were that good at making money, they wouldn't have time to ask you for yours.
If you receive a DM from suspect accounts you should block and report these scam accounts. Please take extreme precautions when dealing with them now and always.
Best Regards,
Phemex team
Not remotely worth the £50 cashback
By far the worst company i have had the pleasure of dealing with.
The website repeatedly cashed me out without me being able to stop it, (before getting to a liquidated state) meaning i repeatedly lost money the seconds after i put money in. i tried on numerous devices I was told i needed evidence for a refund of this, i was not able to get this easily so spend over 6 hours recording and using more money to 'prove' it.
Told that after watching the evidence it was my fault and there was no issues but then told i was not being accused of lying?
Repeatedly patronised me by sending step by steps on how to use the website and explaining how 'cashing out' works Repeatedly used the phrase 'no1 customer service' I wouldn't even put them in the top 10000 for customer service.
The email thread is over 30 emails, three weeks of this not being resolved and my emails are never read in their entirety. I've asked to have this reviewed about 5 times now and thats been ignored. I just want the money i am owed back. If it was not for the Topcashback offer i would not have gone near this website and i regret getting involved with them
Not remotely worth the £50 cashback
Update: the reply says it all, not being read in its entirety once again disappointing is an understatement
July 25, 2022
Unprompted review
Reply from Phemex
Dear Amy,
we are very sorry to hear about your experience.
⚠️ BEWARE OF SCAMMERS ⚠️
This is not our partner https://www.topcashback.co.uk/phemex/ !!!
As many of you know, there are a lot of scammers out there. We are doing everything we can to remove as many of them as possible. In future, if you have any concerns about any suspicious competitions, activities, or giveaways, we highly recommend you to verify on our website www.phemex.com and check out our latest announcements https://phemex.com/announcements, secondly, you may reach out to us with more details by chat or ticket support. This is a way to tell whether the campaign or activities is legit or not.
As a general rule, you should not send bitcoin or crypto to anyone online.
Anyone who offers to make you more money by sending them money is a scammer. If they were that good at making money, they wouldn't have time to ask you for yours.
If you receive a DM from suspect accounts you should block and report these scam accounts. Please take extreme precautions when dealing with them now and always.
Best Regards,
Phemex team
Pending withdrawals and delay in releasing funds
Support was helpful through trust pilot
July 11, 2022
Unprompted review
Reply from Phemex
Dear Edeunazy,
your withdrawal has been successfully sent and it is also confirmed on the blockchain. Please check here for more info: https://bithomp.com/explorer/9B4AE9E758FFB52C1CC4A609C97348E22F65CB8B848D5CF87BD4FBDE5B971D5D
Sadly you forgot to add a tag for your XRP withdrawal.
A Destination Tag/Memo is an additional address feature necessary for identifying a transaction recipient beyond a wallet address. Why is this needed? For these types of cryptocurrencies, most centralized exchanges/wallets use one address for all traders of cryptocurrencies that use Destination Tag technology.
Please contact Trust Wallet so they can credit you your deposit.
Kind regards,
Team Phemex
Update 18 July 22: Dear client, we are very glad, that the issue is now resolved. We hope you can also reconsider your rating, after updating your review. In future please contact directly our live support for a speedy solution. We are available 24/7. Thank you and all the best to you.
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