Hey This is Yashpal and here's my review of Phemex exchange,
I am a mobile trader and do all trading activities in my mobile , i just checked out phemex app referred by my friend.
The first thing that was really very cool was its UI (user interface) with black and blue designs , it looked like a gaming app lol. Its ui helps a lot to visualise crypto. No kyc trading is also good feature.
I also got to know about Phemex from its giveaway like most of others. Everyone makes first small deposit in an exchange you use for the first time to avoid loosing funds or late arrival of funds.
I tried out with depositing around 20$ btc in phemex , no problems faced , it arrived within few minutes. Also tried withdraw coins , it was finished smoothy. Looked out for spot trading bought and sold many times after that, sometimes there is quite a price depth between buy and sell orders which is not good when market is dumping,
On Phemex, you can create sub-accounts. Each account can have its own account balance and permissions. This feature lets the traders create sub-accounts for different trading strategies. Setting a limited balance to each sub-account is also possible. The sub-account system lets you transfer the balance freely between the accounts. Therefore, every new strategy can be tested by the traders.
After registration you can get a 7 day free trial of Phemex premium which makes spot trading fees 0%.
After the trial you should consider buying it because its efficient and not too expensive.
The contract trading section in phemex exchange was not that good compared to leading exchanges , Yes its somewhat different from them. Upto 100x leverage supported.
Charts where absolutely fine with lots of indicators and timeframe , in other exchanges users face lag issues when he observes charts but not with phemex.
Besides all that , I liked in Phemex is its rewarding nature when you register you get upto 80usdt bonus and much more when you finish all the task , Phemex launches giveaway very frequently with huge reward pools. This helps to grow community very fast. Also noticed a savings section where you can earn interest on your coins, You have two options one is locked savings and other pos. But I saw only usdt savings , hope so there would be a list of coins in saving section soon.
I also had a good experience with phemex support , they were quite friendly and helpful. But not as perfect as it's competitor Bybit.
I liked that we could directly contact the ceo on telegram. Although It doesn't have dedicated telephone service but handles technical issues through emails.
Phemex exchange could be in the Top lists of exchange if it manages to attract big traders and have a good volume in their exchange.
Phemex would be good for low funds trading as there are not enough big buyers for every coin.
But this will be solved in few months as I see Phemex is growing day by day.Though It lacks unique features which I think will be soon implemented. There were no presales or stuffs like that and no such things that would attract fully new people to crypto.
Also Us citizens are not accepted that I don't know why but it has a bad impact on this exchange.
In short , Phemex has a good user-oriented approach and it is still growing so if you are searching for low or zero fees trading and rewards you can go for this one....