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
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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.
Phemex Locks Account and Blocks Support – No Resolution for $32,700 Deposit
I am appalled by how Phemex has handled my issue. On November 19, 2024, I deposited $32,700, but accidentally omitted the required tag. After reporting this immediately, their support promised a resolution within 15 days. However, after 36 days of waiting with no updates, my account was unexpectedly locked.
When I tried to contact their live support, I provided my ticket ID as they requested. To my shock, I was informed that they could no longer assist me and proceeded to block my access to customer support. They directed me to their Terms of Use (Section 11: Account Suspension & Closure), but without a valid explanation as to why my access was restricted.
Key Issues:
1. Unresolved $32,700 Deposit: The problem with my deposit remains open with no resolution after over a month.
2. Account Locked: I cannot access my funds, and my account is locked without clear reasoning.
3. Support Access Blocked: After providing my ticket ID and requesting help, Phemex has now blocked me from further contact with their support team, leaving me with no way to escalate or resolve the issue.
This is completely unacceptable behavior from a platform that holds customer funds. I cannot recommend Phemex to anyone, especially since they have shown no regard for resolving this matter or providing clear communication.
I urge Phemex to unlock my account immediately, provide a clear update regarding my deposit, and offer direct assistance in resolving the situation. Until then, I remain highly dissatisfied with their services.
2 January 2025
Unprompted review
Reply from Phemex
Hello Vince
Unfortunately, we are unable to address your case here due to insufficient information. Kindly reach out to us directly at support@phemex.zendesk.com or contact our 24/7 live customer support at Phemex.com, and we will respond promptly.
We sincerely apologize for any inconvenience caused, and we are here to assist you in resolving this issue.
Very bad results
I have had very bad results trading on Phemex. Trading some crypto coins resulted in over 750% slippage even if slippage settings are set to max 0,5 % as default. Avoid this trading platform!
30 December 2024
Unprompted review
Reply from Phemex
Dear Mr.Christian,
We sincerely apologize for the negative experience you’ve encountered while trading on Phemex. Slippage can sometimes occur due to factors such as market volatility or insufficient liquidity, but a 750% slippage is certainly unusual and concerning.
To help us investigate this issue further, please provide specific details about the trades in question, including the coin pair, trade time, and order type. You can reach out to our support team directly at support@phemex.zendesk.com or via our 24/7 live chat on Phemex.com.
Your feedback is invaluable, and we are committed to ensuring a better trading experience for all our users.
Fraudulent exchange
Fraudulent exchange!
I used it for spot trading. In few days I after I bought crypto on spot trading, they liquidated it. I opened the dispute - they said I allegedly did contract trading with margin which I never did!
It’s scamming exchange
30 December 2024
Unprompted review
Reply from Phemex
Dear Igor Dulesov,
We sincerely apologize for any confusion or frustration you’ve experienced. Phemex strives to maintain a secure and transparent trading environment for all users.
You can reach out to us at support@phemex.zendesk.com or through our 24/7 live chat on Phemex.com. Our team will thoroughly investigate your case and address your concerns.
Thank you for bringing this to our attention. We are here to assist you and resolve this matter.
Mason was fast and helpful
I was having an issue with a transaction, someone was with me within 5 min, they asked for screen shots and walked me through the process. Mason was very patient and helpful.
24 December 2024
Unprompted review
Reply from Phemex
Thank you for sharing your experience! We're thrilled to hear that Mason was able to assist you promptly and patiently with your transaction issue. Providing excellent support is a top priority for us, and your feedback is greatly appreciated.
If you have any other questions or need further assistance in the future, please don’t hesitate to reach out.
Phemex stole my funds.
This has been the worst experience dealing with this company I signed up for phemex back in October and deposited funds same day. Since then over 70 DAYS they have kept my funds for “security check” I have filed legal against them just to be met with more hoops to jump through with more likely I will not be able to get my Solana returned. Absolutely scam of a company wish I never found them customer support sucks give u the same answer every time trying to tell me it’s a “normal protocol” NOT NORMAL TO STEAL FUNDS.
1 October 2024
Unprompted review
Reply from Phemex
Hi, Rudy.
We sincerely apologize for the frustration you have experienced and for any inconvenience caused. We understand your concerns regarding the security checks and the delay in processing your funds.
Unfortunately, we are unable to address your case here due to insufficient information. Kindly reach out to us directly at support@phemex.zendesk.com or contact our 24/7 live customer support at Phemex.com, and we will respond promptly.
Once again, we sincerely apologize for any inconvenience caused, and we are here to assist you in resolving this issue.
UI is easy to understand
UI is easy to understand, and the liquidity is fair enough. Function have some features e.g. PT staking, PSP related web3 projects, CP with social app, etc.
1 December 2024
Unprompted review
Reply from Phemex
Thank you for your review! We’re happy to hear you’re enjoying the easy-to-use UI and the features Phemex offers. If you have any questions or need support, don’t hesitate to reach out. Happy trading!
I've been using Phemex Exchange
I've been using Phemex Exchange, and I absolutely love the user-friendly interface! The platform is smooth, intuitive, and makes trading a breeze. One thing I truly appreciate is that Phemex has full KYC in place, providing an extra layer of security and peace of mind. This shows they’re serious about compliance and helps me feel confident that the exchange won't face the same issues as others that overlooked this important step. Their Customer Support team is also outstanding—very responsive and helpful with any issues or feedback I’ve had. Highly recommend!
16 December 2024
Unprompted review
Reply from Phemex
Hi there! :)
Thank you so much for the fantastic review! We're thrilled to hear that you enjoy the user-friendly interface and feel confident with the security and KYC process at Phemex. It’s also great to know that our customer support team has been helpful.
We’re always here if you need anything, and we truly appreciate your recommendation.
Happy trading!
The Phemex Team
They block withdrawels
i fully verified my account with all KYC documents, and they still not letting me withdraw my funds! they stop replying to emails. they just steal your funds! do NOT deposit!
Already taking legal actions against this company.
5 December 2024
Unprompted review
Reply from Phemex
Thank you for reaching out and sharing your concerns. We deeply regret the frustration and inconvenience this situation has caused you. Please be assured that we take such matters very seriously and are committed to resolving this issue promptly.
To assist you further, we kindly request the following details:
Your registered email address or account ID.
Any relevant ticket reference numbers.
You can contact us directly at support@phemex.zendesk.com or through our 24/7 live customer support at Phemex.com.
dont tust phemex they will steal your bitcoin
i deposited 200$ of btc on phemex it when through just fine so i figured it was ok to send a larger amount from the same wallet so i deposited 10000$ of btc and it was stolen by phemex saying it was a security risk even though they allowed the first deposit to go through from the same wallet now ive had to send them all kinds of info on both sides of the deposit for 2 day dealing with that then they said that they will refund the deposit but it would take 24hours then they said it can take 10 days now they are saying 3 weeks reality is they are fraudulent thieves that steal peoples coins they deposit on their exchange
update : phemex still has yet to refund me the bitcoin they have stole and customer service continues to give me the run around and has yet to refund my stolen btc DO NOT TRUST THIS EXCHANGE WITH ANY OF YOUR COINS THEY ARE NOT SAFE AND THEY WILL STEAL FROM YOU AND LIE TO YOU.
29 November 2024
Unprompted review
Reply from Phemex
Thank you for bringing this matter to our attention, and we sincerely apologize for the frustration and inconvenience you’ve experienced. We understand how important your funds are and deeply regret any delays or miscommunications that have caused concern.
To assist you further, we kindly request the following details:
Your registered email address or account ID.
Any relevant ticket reference numbers.
You can contact us directly at support@phemex.zendesk.com or through our 24/7 live customer support at Phemex.com.
Alternatively, reply to this message, and we will escalate your case immediately to ensure a prompt resolution.
We understand your frustration and are committed to resolving this situation. Thank you for your patience and for bringing this to our attention.
Very dissapointed
I sent SUI from another Exchange and never got it. Customer Service wrote to saying that there was a problem with a node. However, my onchain research showed me that everything was fine. First time this ever happens to me on an exchange. Don't recommend it. If I don't get my SUI, I can say they robbed my coins. Because the onchine track shows the funds arrived to my account.
22 November 2024
Unprompted review
Reply from Phemex
Thank you for reaching out and sharing your concerns. We sincerely apologize for the inconvenience and frustration you’ve experienced regarding your SUI deposit. We understand how important your funds are, and we want to assure you that we take this matter very seriously.
Occasionally, technical issues such as node synchronization problems can cause delays in reflecting deposits, even if the transaction shows as complete on-chain. While these instances are rare, we acknowledge how disruptive they can be and are committed to resolving this for you as quickly as possible.
To assist you further, please provide the following details (if you haven’t already):
Your registered account email or ID.
Any ticket reference number ( if available )
You can reach us directly at support@phemex.zendesk.com, contact our 24/7 live support at Phemex.com, or reply here, and we will escalate your case for immediate follow-up.
We deeply appreciate your patience and cooperation as we work to resolve this matter. Rest assured, we are committed to ensuring your funds are accurately credited to your account.
So I'm going to make you a serious…
So I'm going to make you a serious proposal. How about I write you positive reviews and give you 5 stars every day for a month in order to allow me the money we stole from me, or at least let me know what deal you've made with the people below who give you 5 stars so we can do the same and we'll find them.
12 November 2024
Unprompted review
Reply from Phemex
Thank you for your feedback, and we sincerely apologize for the situation.
Unfortunately, we are unable to address your case here due to insufficient information. Kindly reach out to us directly at support@phemex.zendesk.com or contact our 24/7 live customer support at Phemex.com, and we will respond promptly.
Your trust is very important to us, and we are committed to resolving this matter to your satisfaction. We appreciate your patience and continued support as a valued Phemex user.
Reply from Phemex
Hi Paul,
We’re truly sorry to hear about your experience. Your feedback is very important to us, and we’d like to make things right.
Due to limited information, we’re unable to fully address your case here. Please contact us directly at support@phemex.zendesk.com or reach our 24/7 live customer support at Phemex.com, and we will assist you as quickly as possible.
Your trust is essential to us, and we are committed to resolving this issue to your satisfaction. Thank you for your understanding and for being a valued Phemex user.
I would never advice anyone to start…
I would never advice anyone to start anything here. Withdrawals are never processed. I was able to get it solved with Hold Kastle
13 September 2024
Unprompted review
Reply from Phemex
We appreciate your feedback, and we deeply apologize for the inconvenience caused.
Due to limited information, we’re unable to fully address your case here. Please contact us directly at support@phemex.zendesk.com or reach our 24/7 live customer support at Phemex.com, and we will assist you as quickly as possible.
Your trust is essential to us, and we are committed to resolving this issue to your satisfaction. Thank you for your understanding and for being a valued Phemex user.
One week later
One week later, Phemex still took my money for "security reason" after i done a deposit (same wallet i used 5x before without a problem) i didnt reached any limits, they just want blackmail now kyc out of me without answering more from the "security department"
seems this cex is a scam and want your datas or dont give your money back...
BECAREFUL
4 September 2024
Unprompted review
Reply from Phemex
Thank you for your feedback, and we sincerely apologize for the situation.
Unfortunately, we are unable to address your case here due to insufficient information. Kindly reach out to us directly at support@phemex.zendesk.com or contact our 24/7 live customer support at Phemex.com, and we will respond promptly.
Your trust is very important to us, and we are committed to resolving this matter to your satisfaction. We appreciate your patience and continued support as a valued Phemex user.
Never use this exchange!
Never use this exchange!
I used them for the first time with a small amount (less than $100) to test the service, and initially, everything worked fine. However, when I transferred $8,000, they blocked my account, preventing me from accessing my funds due to so-called 'KYC and anti-money laundering' issues. They held my money hostage for over 30 business days! Worst experience ever
1 July 2024
Unprompted review
Reply from Phemex
We appreciate your feedback, and we deeply apologize for the inconvenience caused.
Due to limited information, we’re unable to fully address your case here. Please contact us directly at support@phemex.zendesk.com or reach our 24/7 live customer support at Phemex.com, and we will assist you as quickly as possible.
Your trust is essential to us, and we are committed to resolving this issue to your satisfaction. Thank you for your understanding and for being a valued Phemex user.
Scam
Scam! Do not deposit any money, because you will not get it back, they make it impossible to withdraw. They've got £126 of our money that we can't retrieve
5 August 2024
Unprompted review
Reply from Phemex
We appreciate your feedback, and we deeply apologize for the inconvenience caused.
Due to limited information, we’re unable to fully address your case here. Please contact us directly at support@phemex.zendesk.com or reach our 24/7 live customer support at Phemex.com, and we will assist you as quickly as possible.
My withdrawal did not process/happen
My withdrawal did not process/happen, funds are now being held hostage till I put more money in. Saying some BS about becoming a formal trading account need to put total of 5,000 b4 I can withdrawal.
3 August 2024
Unprompted review
Reply from Phemex
Thank you for sharing your feedback, and we apologize for the inconvenience caused.
Unfortunately, we cannot fully address your case here due to insufficient details. To assist you further, we kindly request the following detail:
Any relevant ticket reference numbers.
You can contact us directly at support@phemex.zendesk.com or through our 24/7 live customer support at Phemex.com.
Time-tested exchange
An excellent, time-tested exchange. I have been using it for more than four years. During this time, there have been no problems with the withdrawal of funds or anything else. Since I use the app more often, I sometimes asked for feedback on improvements, and the team always met me halfway. Over these four years, the exchange has grown significantly, and new options have appeared. It's funny to watch how multi-acquires run in during promotional periods and, having earned well-deserved bans, begin to hate. The four years in which there was a bull run, there was a bear, but you survived, well done. I wish you further prosperity and leadership positions in the market!
10 July 2024
Unprompted review
Reply from Phemex
Thank you, Andrei! Thank you so much for your positive feedback and support over the years! We truly appreciate your loyalty and are glad to hear that Phemex has met your expectations. We're always striving to improve and provide the best experience for our users. We wish you continued success in your trading journey, and here's to many more years of growth together! Happy trading! 🙂
I have been using the Phemex exchange…
I have been using the Phemex exchange for 4 years, and I am very surprised that there are so many bad reviews. I think these reviews are written by people who created multi-accounts to receive bonuses, after which the risk control system blocked them, and now they are unhappy. If you use the exchange honestly, no problems arise. I like the exchange, sometimes there are nuances regarding liquidity, but overall I haven’t had any problems in 4 years.
10 July 2024
Unprompted review
Reply from Phemex
Thank you for sharing your experience with us! We're glad to hear that you've had a positive experience over the years. We appreciate your understanding and support. Feel free to reach out if you have any questions or concerns. Wishing you the best in your trading adventure!
phemex its FRAUD its scam site
Hi,
I SENT PROOF IN ATTACHMENT HOW PHEMEX STOLE ME 2.5K USD IN BTC
AND TRASNFER ID ITS THAT:
btc/tx/3f12188b9c8ffd8b77929a4666134ccdaae08c5f9dd405d0d81828e5c72c8787/
1 July 2024
Unprompted review
Reply from Phemex
Thank you for reaching out and expressing your concerns. We sincerely apologize for the frustration and inconvenience this situation has caused.
Upon review, we see that your case has been resolved. If you have any further inquiries, please feel free to contact us directly at support@phemex.zendesk.com or through our 24/7 live customer support at Phemex.com.
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