what is phemex

 Introduction to Phemex Trading

Phemex is a global futures trading platform designed for retail traders, professionals, and institutional investors alike. The platform stands out with its user-friendly interface and substantial trading volume.

Founded in 2019, Phemex is known for its high level of security and is headquartered in Singapore.

The platform is working to incorporate traditional financial derivative products such as stock indices like the S&P 500, interest rates, forex, commodities, metals, energy, and more. 

You can create an account on Phemex through the following link:

https://phemex.com/

Supported Cryptocurrencies on Phemex Platform

Phemex currently supports the following cryptocurrencies:

phemex exchange and phemex trading

• BTC
• ETH
• ADA
• DOT
• ALGO
• UNI
• LINK
• GOLD
• COMP
• LTC
• XTZ
• AAVE
• DOGE
• YFI
• BCH
• XRP

Platform Fees

Phemex sets a maker fee at 0.025% and a taker fee of 0.0675% for futures contracts.

For spot trading fees, Phemex charges a maker fee of 0.01% and a taker fee of 0.01%.

Referral Bonus

You will receive 10% of the platform's commission for every trade made by your referred users in futures contracts.

You will also receive 50% of the referral bonus that your referrals earn.

Welcome Bonuses

Currently, Phemex offers a welcome bonus of $72 for new sign-ups through reward funds. This can be obtained by completing simple tasks like following their social media or depositing $0.2 in a single deposit.

Phemex Withdrawal Times

1- Phemex processes withdrawal requests three times a day. Each request is carefully reviewed by operators and founders.

2- Qualified withdrawal requests are also processed via offline signing, ensuring that all assets are stored 100% in cold wallets, maintaining the non-custodial nature of the platform.

Funding Rates

Funding rates are a significant feature to consider on the Phemex platform. The funding rate is paid directly to long or short position holders based on the "negative funding rate" or "positive funding rate." These rates are collected every 8 hours, potentially resulting in gains or losses every 8 hours.

Phemex Team

phemex usa

The Phemex team consists of former executives and developers from Morgan Stanley. CEO Jack Tao worked at Morgan Stanley for 11 years, gaining experience in developing stock trading algorithms in the United States. This background is crucial to Phemex's growth strategy and its mission to provide professional trading tools to the cryptocurrency space.