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Phemex Review 2021 | Zero Fees, No KYC [Updated]

Phemex Review: Summary

  1. Phemex exchange is a registered Money Service Business with the Financial Crimes Enforcement Network Department.
  2. KYC is not required to start trading on Phemex.
  3. Users can trade Perpetual Contracts with up to 100X leverage.
  4. This platform provides multiple advanced orders for trading.
  5. Users can create sub-accounts on Phemex. Each account can have its own account balances and permissions.
  6. Users can practice trading cryptocurrencies without putting their own capital at risk with a Phemex demo account.
  7. Premium members can engage in ZERO FEE spot trading.
  8. Phemex provides handsome bonuses.
  9. A 24/7 live chat option is available on the platform.
  10. Users can trade anywhere and at any time with the Phemex mobile app.

How to get started with Phemex?

  1. Go to the Phemex website
  2. Press the ‘Register’ button on the top right-hand corner
  3. Fill in your email address and set a password
  4. Use DDLJW invitation code and get a discount on the fee.
  5. Enter the verification code to verify your email address
  6. Use your new credentials to log in on Phemex

How to deposit funds on Phemex?

  1. Log in to your Phemex account
  2. Click the ‘Assets’ option on the top right corner
  3. Click the ‘Deposits’ button and choose the cryptocurrency
  4. Copy the unique wallet address for the chosen coin
  5. Use your personal crypto-wallet to scan the QR code or copy and paste the address to commence the transaction. Choose the intended amount and send it to your Phemex wallet.

Leverage on Phemex

Contracts Trading

Spot trading

Phemex Review: Orders Types

Limit order

Conditional order

Market order

Stop-Loss and Take profits

Phemex Premium Membership

  • Trading the crypto spot exchange
  • Executed orders on the spot market incur ZERO trading fees
  • Manage risk on the spot market with advanced orders (i.e., conditional order types)
  • Gifting a 30-day full Premium trial to your family and friends

Zero-Fee Spot Trading

  • $9.99 USD for 30 days
  • $19.99 USD for 90 days
  • $69.99 USD for 1year

Phemex Sub-accounts Feature

Phemex demo account

Phemex Bonus

Phemex Deposit and Withdrawal Fee

Is Phemex Legal?

Phemex Review: Security

Phemex Mobile App

  1. The trading interface is simple to understand and navigate for beginners as well as experienced traders.
  2. Trading view charts are available for decision making and price analysis.
  3. Various drawing tools and built-in indicators are at one’s fingertips for technical analysis.
  4. The app also provides multiple timeframes, which makes it useful for both long-term traders and scalpers.
  5. Buy stop orders, advanced order types, and limit orders are available here.

Phemex Review: User Interface

  • Limit orders
  • Conditional orders
  • Market orders

Phemex Review: Customer Support

  1. Support- support@phemex.com
  2. Product Feedback- product@phemex.com
  3. Report issues and Bugs- it@phemex.com
  4. Complaints- complaints@phemex.com

Phemex Review: Pros and Cons

Pros

  1. Provides up to 100X leverage
  2. Feature of creating sub-accounts
  3. KYC is not needed
  4. Multiple advanced order types are available
  5. Basic user interface
  6. Focused on community

Cons

  1. A relatively new platform, launched in 2019
  2. Doesn’t support crypto to crypto pairs
  3. Lower liquidity compared to other derivative exchanges

Phemex Review: Conclusion

Frequently Asked Question

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