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About Phemex

What is Phemex?

Phemex is a cryptocurrency derivatives exchange. The exchange is based in Singapore and was founded in 2019 by former executives at Morgan Stanley. The exchange has low fees, high liquidity and is growing quite fast, offering easy-to-use charts and wallet interfaces, no KYC (know your customer) process, tight/fast execution of spreads, and spot, contract and margin trading. The centralized cryptocurrency exchange (or CEX) serves a variety of clients - from novice cryptocurrency traders to seasoned professional investors - and Phemex offers financial advice to improve the trading experience, an educational portal with guides and charts, a quick registration process, an easy-to-use mobile app, and a referral program to generate passive income. referral program, and multiple ways to generate passive income. The platform offers an immediate purchase of digital assets. According to the project's website, it can process 300,000 transactions per second and has an order response time of less than 1 millisecond.

Who are the founders of Phemex?

The CEO and founder of Phemex is Jack Tao, a former software engineer and VP at Morgan Stanley. a graduate of Fudan University in Shanghai, Tao has experience in traditional finance and has focused on developing algorithmic trading platforms for over 10 years.

When did Phemex launch?

The project is owned by Phemex Financial Pte. Ltd. and launches in November 2019.

Where is Phemex located?

Phemex is located in Singapore. It is an offshore company with its registered office in the British Virgin Islands.

Countries with restricted access to Phemex

The platform has over 5 million active users in over 200 countries. According to its terms of use, the exchange's services are not available to users in the following countries: United States, United Kingdom, Quebec and Alberta (Canada), Cuba, Crimea, Sevastopol, Iran, Syria, North Korea, South Korea, Sudan, China, Hong Kong, Republic of Seychelles, and Bermuda.

What currencies does Phemex support?

Phemex supports more than 250 assets, 137+ contract pairs, and 238+ spot pairs. Here are some of the cryptocurrency types that users can buy/sell/trade on the exchange: BTC, ETH, USDT, DOGE, XRP, LINK, ADA, ALGO, ATOM, MANA, SHIB, APE, FTM, COMP, ZEC, MATIC, LTC, AAVE, SAND, DOT, etc.

What are the fees for Phemex?

Phemex is a full-service platform with a fee model that sets it apart. The exchange charges a 0.1% spot fee (0.1% of the trade value for pending and eat orders, with more favorable fees for higher volumes). For contract trades, the fees are based on a pending-order-taking model, with Phemex charging 0.06% for order takers and 0.01% for pending orders. In addition, the platform does not charge any fees for cryptocurrency deposits to trading accounts. For more details, please refer to the fee structure.

Can I trade with leverage or margin on Phemex?

Users can use up to 100x leverage. Phemex offers leveraged trading on perpetual contracts such as ETHUSD, BTCUSD, LTCUSD, LINKUSD, XRPUSD, XTZUSD, etc.