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
While we don't verify specific claims because reviewers' opinions are their own, we may label reviews as "Verified" when we can confirm a business interaction took place. Read more
To protect platform integrity, every review on our platform—verified or not—is screened by our 24/7 automated software. This technology is designed to identify and remove content that breaches our guidelines, including reviews that are not based on a genuine experience. We recognise we may not catch everything, and you can flag anything you think we may have missed. Read more
See what reviewers are saying
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.
Unprofessional
My VPAD withdrawal already missed two withdrawal windows and stuck for 10 hours. Only support is via email, and they have 48 hours reply window, not helpful.
Transfer got REJECTED eventually, what a bunch of scammers.
December 23, 2021
Unprompted review
Reply from Phemex
Dear Bohdan Orlov,
first of all we wanna apologise for your withdrawal delay
and we hope that meanwhile the issue with VPAD has been solved.
The VPAD listing had been a huge success, which was beyond our expectations.
We had high volume as well as traffic and we needed to perform extra security checks,
which in last instance had an impact on VPAD withdrawal delays.
Rest assured our user's funds are the most important for us.
Please read more on following link about our wallet security practises https://phemex.com/security .
If you have any remaining questions, please don´t hesitate to contact us directly at www.phemex.com.
We have a live support and we are available 24/7 to support you.
Kind regards,
Team Phemex
Scamers
Today was VPad tokken listing on Phemex. The listing was announced for 14h UTC. Of course the listing was 2minutes late, so exchange owner’s have the time to fill up their bags. A lot of people lost money on this one, and Phemex is a scamy exchange. Been waiting for my XRP withdrawal from Phemex to Okex for more then 10h now. Avoid at all cost, one star!
December 22, 2021
Unprompted review
Reply from Phemex
Dear Greedy Sandman,
first of all we wanna apologize for your withdrawal delay
and we hope that meanwhile the issue with XRP has been solved.
The VPAD listing had been a huge success, which was beyond our expectations.
We had very high volume as well as traffic and we needed to perform extra security checks,
which in last instance had also an impact on withdrawal delays.
Rest assured our user's funds are the most important for us.
Please read more on following link about our wallet security practises https://phemex.com/security .
If you have any remaining questions, please don´t hesitate to contact us directly at www.phemex.com.
We have a live support and we are available 24/7 to support you.
Best regards,
Team Phemex
CS saved my savings!
I accidentally sent them a nonregistered stable coin and they sent it back to me, even though the policy gives no guarantee for that!
You saved my savings Phemex :-) Thousand thanks!
December 17, 2021
Unprompted review
Reply from Phemex
hi, Kevin, Thank you so much for your kind words! We're glad we could help you recover your funds. Please feel free to reach out anytime if you need help. Happy trading! 🙂
Terrible customer service
I was very happy with my account till 5 days ago when it was locked with no explanation.
I have contacted the customer service and I have still not received a response and my funds are frozen.
The answer of the automatic chat is that probably I would abuse of the social bonus, but I hadn't claimed any bonuses.
The work of the platform is great till you have a problem, in this case, you can be in a mesh.
December 11, 2021
Unprompted review
Reply from Phemex
Dear Carolina Felici,
apologies for the bad experience, our system deploys multiple security measures to avoid bonus farming with multi-account.
It is forbidden to create multiple accounts for multiple bonuses https://phemex.com/announcements/new-welcome-bonus-and-restrictions.
If our system detects accounts with the same IP Address or GUIDs, all offending accounts will immediately be frozen and banned.
Sadly there could be a false positive if you share wifi (in a cybercafe for example).
Anyway you won't lose any deposit, please proceed with the KYC verification.
If you have any remaining questions, please don´t hesitate to contact us directly at www.phemex.com.
We have a live support and we are available 24/7 to support you.
Kind regards,
Team Phemex
PLEASE READ URGENT!
Phemex is one of the best platform I ever exchanged so far, their customer service representative is superb. After a couple times of interacting with their support team their team seem knowledgeable and their know their customer needs and it's hassle-free. Their live-chat support are 24/7. Lastly I gonna recommend Phemex to my friends about Phemex.
November 24, 2021
Unprompted review
Reply from Phemex
Thank you so much for your kind words and for taking the time to share your experience! We're thrilled to hear that our customer service team has been able to assist you effectively. We appreciate your recommendation and look forward to continuing to support you in your trading journey. If you ever need anything, don't hesitate to reach out. Happy trading, and thank you for being a part of the Phemex community! 😊
Phemex is the best exchange that I have…
Phemex is the best exchange that I have found so far, easy to use, and lots of great opportunities to earn extra bonus. They keep listing a lot of cryto currencies on offer too.
November 23, 2021
Unprompted review
Reply from Phemex
Hi there Lauren, :)
Thank you for your awesome review! We're so glad to hear that you find Phemex easy to use and that you're enjoying the bonus opportunities and the wide variety of cryptocurrencies available.
If you ever have any questions or need assistance, feel free to reach out to us at support@phemex.zendesk.com.
Happy trading!
The Phemex Team
You hardly get your withdrawal the easy…
You hardly get your withdrawal the easy way. I had wanted to make a withdrawal, I was told to get a Google authentication code. I copied the key pasted it on the authentication app, the code was generated then I went back to my phemex account;the page was reloaded another key was indicated causing the generated code to be unless I had to repeat the process again, the key keeps on changing everything after generating a code from the authentication app. I don't even know what to do. However, I have contacted your support team
November 22, 2021
Unprompted review
Reply from Phemex
Dear Agyeimosesjunior,
all users must enable 2fa to be able to withdraw. There is nothing unusual about this practice.
Even banks use nowadays for example TAN codes for transfers through online banking.
It is also normal that the code changes every 30 seconds in your google authenticator.
Why is 2FA important?
Two-factor authentication adds an additional layer of security to the authentication process by making it harder for attackers to gain access to a person's devices or online accounts because, even if the victim's password is hacked, a password alone is not enough to pass the authentication check.
You might wanna take a look about User Account Security and general Security Practices on following link https://phemex.com/security
Rest assured your funds are safe with us.
Hope our customer service also clarified you on this matter.
If you have any further questions, dont hesitate to contact us at www.phemex.com.
We are available 24/7.
Please reconsider your review rating.
Kind regards,
your Phemex Team
cool exchange
November 10, 2021
Unprompted review
Reply from Phemex
Thanks for your feedback! Happy trading, and we appreciate you choosing Phemex!
This is the truth
This is the truth, I promise.
I was new to cryptocurrency, I put 1200.00 in , all of a sudden , they stole 600. From me, let me tell you how, they real slick.
They got these little boxes about 1/16 of inch in size, you can hardly see them.
Ok then 600 went to (CONTRACT) NEXT THING I KNOW, ITS GONE FOREVER, IM VERY POOR, I ALMOST COMMITTED SUICIDE, REAL TALK.
THE NEXT PROBLEM WAS I COULDNT GET MY MONEY OUT.
SO I WENT TO (COINBASE) THEY ARE BEAUTIFUL.
SO WHEN I WITHDREW MY MONEY, THEY TAKE 1/4 OF WHATEVER YOU HAVE TO TRANSFER IT.
NO WORDS CAN DESCRIBE THE PAIN THEY CAUSED ME.
I WANT EVERYONE TO KNOW, THEY DONT CARE, THEY JUST WANT MONEY.
JESUS IS MY LORD AND MASTER, I WOULD NEVER PUT A COMPANY DOWN FOR FRIVOLOUS REASONS.
THEY HURT ME REALLY BAD, EMOTIONALLY AND MONETARILY.
(JUST DONT TOUCH THEM WITH A 50 FT. POLE)
THIS IS THE HONEST GODS TRUTH.
ONE MORE THING, CUSTOMER SERVICE, NO WAY , MAYBE CALL ME ,LIKE I REQUESTED , NO WAY.
THIS IS A TERRIBLE COMPANY, THEY SHOULD GET (NO STARS) WHATSOEVER.
(TRUE STORY)
November 5, 2021
Unprompted review
Reply from Phemex
Hello Vincent, we are sorry to hear about your experience regarding contract trading and withdrawal fees.
Crypto is very volatile and margin trading comes with risks.
If you are new to cryptocurrency and you don't have much experience with our platform,
it may be a good idea to avoid risking your real funds and get first familiarized with Phemex
and try your strategy in our testnet (Demo Account) https://testnet.phemex.com/
If you have any questions regarding your position and what happened to it,
please don`t hesitate to contact the 24/7 online support at www.phemex.com so we can explain more in detail.
About the withdrawal fees amongst all crypto exchanges we have standard withdrawal limits and fees.
You will find more info on following link https://phemex.com/fees-conditions, you could for example withdraw for zero fees if you choose USDT tr20.
Also you might wanna take a look we have currently many new attractive campaigns and giveaways https://phemex.com/announcements.
We hope to see you again.
Best regards,
your Team Phemex
I put 2000 USD into Phemex and found…
I put 2000 USD into Phemex and found out I can't withdraw. I thought it was something I was doing wrong with the Google authentication thingy. Whenever I put in the authentication number, it would say it was incorrect and by the second time, it would require reseting, with a 24 hour wait to withdraw the funds... This has happened twice now and I'm beginning to think one's funds can't actually be withdrawn.
October 27, 2021
Unprompted review
Reply from Phemex
Dear Craig,
if you are experiencing any issues regarding your 2fa please don´t hesitate to contact the online support at www.phemex.com.
We are here for you 24/7 and we could investigate your problem that you encountering and find a solution.
Why is 2FA important?
While important, usernames and passwords on their own are vulnerable to attack by third parties that use programs to randomly generate usernames and passwords to hack a user’s devices.
2FA gives your accounts an extra layer of security by keeping cybercriminals out—and your personal information in behind closed doors.
You might wanna take a look about User Account Security and general Security Practices on following link https://phemex.com/security
Rest assured your funds are safe with us.
Best regards,
your Team Phemex
❌❌❌SCAM exchange be carefull
Very bad exchange, they are trying to get more customers by promoting fake bonus offers, I used on of thier bonuses and made some profit, when i wanted to withdraw they said i must make a deposit in order to withdraw, so i made a deposit, but few hours later my account was blocked with my funds on it.
I contacted the support but they are just bluffing.
October 7, 2021
Unprompted review
Reply from Phemex
Dear Trader,
you have to deposit so you can activate your account. It can be for example 0.00000001 USDT means less than a cent.
You will find more info about the minimum deposits on following link https://phemex.com/fees-conditions.
If you found your account being banned, it's most likely due to the fact that you abused our bonus system with multiple accounts.
Kindly note that this sort of action is not tolerated by Phemex.
Phemex reserves its right on terminating our service with you if our system detects multiple accounts are created for our social media bonus or the new user deposit bonus.
If you have any remaining questions about your account, please don´t hesitate to contact us at. We are 24/7 available at www.phemex.com.
Kind regards,
Team Phemex
Had many coins on their market
Had many coins on their market - was ALWAYS notified from emails of logins except for on 9-19-2021 where hackers logged into my account, sold everything, and sent it away. Kind of strange? Why on that day was the only day i was not Emailed of a login? And why did i not have another email saying there was a login from a different IP?
Something is f@&*#g odd here for this to have happened and im not notified. DO NOT USE, This company can SMD.
October 6, 2021
Unprompted review
Reply from Phemex
Dear Typical gamer,
we sorry to hear about your experience and what happened to you.
All users get notified when they login through a new IP address or when they withdraw funds etc.
Also hackers must have had access to your 2fa otherwise withdrawal is simply impossible.
Did you contact Phemex online support to help you on that matter?
Tech team can look up exactly the last activities on your account.
Please contact us at www.phemex.com, we are here 24/7 to support you.
Kind regards,
Phemex Team
🚨🚨🚨SCAM ALERT‼ ️🚨🚨🚨 What is going…
🚨🚨🚨SCAM ALERT‼ ️🚨🚨🚨 What is going on? The PHEMEX exchange gives you money for liking Twitter and a quiz ($ 16). They are available to play on leverage, what you win is yours, I managed to win $ 17 and wanted to withdraw it. Of course, that's not all. To be able to withdraw, you must first deposit - a large red lamp .. After the deposit, it turned out that cryptocurrency withdrawals are made 3 times a day (0: 00/8: 00/16: 00) no matter what crypto ... And now the best! To be able to withdraw every hour. You have to buy premium !!!! On the stock exchange! Finally, as in the attachment, I was blocked (along with my deposited funds)
I didnt do multiple accounts like they said, i did deposit and all what i did was correct.
Also write message to support and didnt get reply for so long. Dont warstw your money there.
October 3, 2021
Unprompted review
Reply from Phemex
Dear Marcin Szlęg,
you have to deposit so you can activate your account. It can be for example 0.00000001 USDT means less than a cent.
You will find more info about the minimum deposits on following link https://phemex.com/fees-conditions.
Why are withdrawals at phemex only 3 times a day for normal users?
It is because we store our assets in cold wallets and credit every withdrawal manually!
Please read more about our Wallet Security practices on following link https://phemex.com/security.
The inconvenience is worth the value added; and at least for the majority of customers, the most important is the safety of the funds.
Since hourly withdrawals cost the exchange more effort, it´s only for premium members enabled.
Premium members enjoy also other advantages, for example zero fees for spot trading.
See more on following link https://phemex.com/premium
If you found your account being banned, it's most likely due to the fact that you abused our bonus system with multiple accounts.
Kindly note that this sort of action is not tolerated by Phemex.
Phemex reserves its right on terminating our service with you if our system detects multiple accounts are created for our social media bonus or the new user deposit bonus.
If you have any remaining questions about your account, please don´t hesitate to contact us at. We are 24/7 available at www.phemex.com.
Kind regards,
Team Phemex
Phemex's withdraw button is a "Turn on Google Authenticator" button, no joke.
(Beware of Fake POSITIVE reviews)
You can't withdraw...
Got hooked in by greedy fkn youtube degens drooling all over their affiliate marketing links...
Yes, I was dumb...
But yeah, I'm thankfully a good trader. So I only put in (what to me is a small amount) about $200 in total.
Well, it went wrong when I started looking for the 'Withdraw' button. Guess what, they don't even have one XD, they just ask you to turn on 'Google Authenticator', that is their withdraw button...
A few things that surprised me at first (imo, red flags):
- The interface looked copied from Binance
- They don't have a desktop application
- All those bonuses, unreal how many bonuses they offer
October 1, 2021
Unprompted review
Reply from Phemex
Dear James Alexandros,
all users must enable 2fa to be able to withdraw. There is nothing unusual about this practice.
Why is 2FA important?
Two-factor authentication adds an additional layer of security to the authentication process by making it harder for attackers to gain access to a person's devices or online accounts because, even if the victim's password is hacked, a password alone is not enough to pass the authentication check.
You might wanna take a look about User Account Security and general Security Practices on following link https://phemex.com/security
Rest assured your funds are safe with us.
About the desktop application thank you for your suggestion, we will forward it to the product optimization team so we can implement it in further future.
If you have any further questions, don´t hesitate to contact us at www.phemex.com. We are available 24/7.
Best regards,
your Team Phemex
This procedure is of course totally…
This procedure is of course totally unacceptable to be honest. have never experienced any kind of stressful withdrawal like this before. which is not allowed. for months, no word from them. thank god for Cyphtech that came in for me. gø† every pennyßback. Also, phemex liquidity is not fair in my opinion..
September 20, 2021
Unprompted review
Reply from Phemex
Dear Bryan Chong,
this review seems not to be about phemex, but for advertising another company.
Please avoid doing that in future.
Phemex doesn´t hold any funds of users back! We are pretty transparent on that matter.
You will find more info about our withdrawal limits and fees on following link https://phemex.com/fees-conditions.
We offer for example zero withdrawal fees for USDT tr20.
About the withdrawals times for standard users, Phemex will process withdrawals 3 times a day, at 08:00,16:00, and 24:00 (UTC).
Phemex Premium Users can withdraw every hour. More info here: https://phemex.com/getting-started/how-do-i-make-a-withdrawal.
Best regards,
Team Phemex
locked out of my account for 3 weeks
Currently locked out of my account like a few other comments, need to reset my google 2FA provided as much info as I can and genuinely terrified I’m going to lose my monwy
September 13, 2021
Unprompted review
Reply from Phemex
Dear Customer,
we hope your issue with your 2fa is meanwhile fixed and you have access again to your account.
We point out many times to users to save their Google Authenticator private key in case they lose access to their 2fa,
so they can easily rebind it and not go through the whole process of reset.
https://phemex.com/getting-started/how-do-i-enable-google-two-factor-authentication
For the reset process we ask many questions from users, so we can verify the ownership.
Rest assured your funds are safe with us.
If you have any remaining questions, please don´t hesitate to contact us directly at www.phemex.com.
We are here 24/7 to support you.
Kind regards,
Team Phemex
Phemex is a horrible company it’s been…
Phemex is a horrible company it’s been two weeks since I’ve been locked out of my account I have documented proof showing I have an account with my account number documented emails and pictures to the exact number of coins that I own It’s been almost 2 weeks and several emails were they do not respond they have given me several criteria I have provided all the information possible for them to unlock my account this is all due to Google verifier that no one else f uses
September 11, 2021
Unprompted review
Reply from Phemex
Hi there Mark, :)
We’re really sorry to hear about your frustrating experience. We understand how important it is to regain access to your account, and we truly apologize for any inconvenience caused.
We take account security seriously, and the Google Authenticator issue you're facing sounds frustrating. Please reach out to us again at support@phemex.zendesk.com, and we’ll ensure your case is escalated to the right team for faster resolution. We appreciate your patience and are committed to helping you resolve this matter as quickly as possible.
Thank you for bringing this to our attention, and we’ll do everything we can to assist you.
The Phemex Team
Big scam
Big scam, platform lagging and big spreads on their favour just leave
September 9, 2021
Unprompted review
Reply from Phemex
Dear Oualid Zhani,
Phemex is one of the most leading derivatives exchanges in the world with around 2 million customers.
Security is very important to us and we apply multiple mechanisms to ensure the safety of our clients.
Please read more on following link https://phemex.com/security.
If you experience any issues with phemex website and it is lagging, you might wanna use chrome browser.
Phemex is optimized for chrome browser and you will have with chrome the best user experience.
The spread and slippage can be higher on volatile markets. You can learn how to avoid it on following link https://phemex.com/academy/what-is-slippage-in-crypto.
Also this link might be interesting for you https://phemex.com/academy/what-is-bid-ask-spread.
If you have any remaining questions, please don´t hesitate to contact us directly at www.phemex.com. We are here 24/7 to support you.
Best regards,
Team Phemex
***WARNING*** PHEMEX IS NOT SAFE *** DO…
***WARNING*** PHEMEX IS NOT SAFE *** DO NOT USE*** I transferred my crypto here to try free trades and cash out some of my profits. First of all, trading is not free your obligated to pay for membership with a so called free trial and receive trade discounts or make a $10k Bitcoin account. Then I tried to cash out AND THE CHARGE FEES WAS 1/4 OF MY ENTIRE BALANCE! Now I just want OUT and they FROZE all my assets! It’s been 3 days. THIS Can’t be happening it’s a Nightmare. (11 hours later, I’m still waiting 8:58 PST total BS)
September 4, 2021
Unprompted review
Reply from Phemex
Dear Papa Bear,
we are sorry to hear about your experience.
Phemex is one of the most leading derivatives exchanges in the world with around 2 million customers.
Security is very important to us and we apply multiple mechanisms to ensure the safety of our clients.
Please read more on following link https://phemex.com/security
Also please note that after you apply a withdraw, the involved fund will be in frozen status because it's not viable for trading or transfer and any other purpose until the withdraw is processed or cancelled.
Info about the withdraw and trading fees you can find here https://phemex.com/fees-conditions. We offer for example zero withdraw fees for USDT tr20.
We hope your delay of your withdraw has been resolved and we apologize for the inconvenience that has caused you.
If you have any remaining questions, please don´t hesitate to contact us directly at www.phemex.com.
We are here 24/7 to support you.
Kind regards,
Team Phemex
This is the worst app ever so many…
This is the worst app ever so many loops to get crypto withdrawals and can’t trade easily sucks sucks don’t use it
August 28, 2021
Unprompted review
Reply from Phemex
Dear Terry,
we are sorry to hear about your experience.
We had recently an app upgrade and optimized the user interface and added many new features. Maybe you want to take a look at google/apple store? Also we have currently many new attractive campaigns and giveaways, that you might wanna check out https://phemex.com/announcements. We hope to see you soon!
Best regards,
Team Phemex
The Trustpilot Experience
Anyone can write a Trustpilot review. People who write reviews have ownership to edit or delete them at any time, and they’ll be displayed as long as an account is active.
Companies can ask for reviews via automatic invitations. Labeled Verified, they’re about genuine experiences.
Learn more about other kinds of reviews.
We use dedicated people and clever technology to safeguard our platform. Find out how we combat fake reviews.
Learn about Trustpilot’s review process.
Here are 8 tips for writing great reviews.
Verification can help ensure real people are writing the reviews you read on Trustpilot.
Offering incentives for reviews or asking for them selectively can bias the TrustScore, which goes against our guidelines.