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
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See how their reviews and ratings are sourced, scored, and moderated.
They froze my money and they're saying…
They froze my money and they're saying it's just their normal procedure, randomly doing security check. While never had this problem with any other exchange. No wonder their volume has gone down. Definitely closing my account after I get my money.
23 June 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 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.
PLEASE DO NOT USE THIS EXCHANGE
PLEASE DO NOT USE THIS EXCHANGE
THE LIQUIDATION IS ON THEIR HAND.NO CLARIFICATION. YOUR MONEY WHEN YOU TRADING MARGIN WILL BE DESAPPEAR IN SEC.
NEVER USE
8 June 2024
Unprompted review
Reply from Phemex
We appreciate your feedback and we understand how frustrating it can be when your trading experience falls short of expectations, and we sincerely apologize for any confusion or inconvenience this has 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.
I advise you to be careful
I advise you to be careful, they block my accounts just like that without giving a reason. They blocked me so much that there wasn't much money in my account, but it's always a waste. They reply to emails with nonsense without giving the reason for the block. It's probably about the money they stole from me, watch out for that thing
23 May 2024
Unprompted review
Reply from Phemex
To assist you better, could you please provide the ticket reference number? This will help us investigate your case more efficiently.
You can reach us directly at support@phemex.zendesk.com, or contact our 24/7 live customer support team on Phemex.com.
Monkey in a suit
They work with smaller sums like normal. But when few thousands dollars worth of crypto arrives they mark them as suspicious and blame you based on terrorism and money laundering. Then they begin KYCing and terrrorising you. Every 24-48 hours you receive one email from them, indian service agents in front page wont help you in this loop. In email thei ask you some number or proof from way back, this will go on century backwards, it will never end.
Loop works in a way they unlock "stuff" in webpage but at end it will go for ever in blockchain and funds are stuck here. When you stop going to site they stole money from you.
CEO is ratzi looking charecter and know cybercriminal named Jack Tao. He is thief but likes to dress in suit.
I have reported them to Singapore police department for cybercrimes. I recommend doing same.
I believe mr. Tao will choke on money some day.
7 May 2024
Unprompted review
Reply from Phemex
Thank you for taking the time to share your feedback. We understand that delays or additional verification steps can be frustrating, and we apologize if our communication has not met your expectations. To help resolve your concerns promptly, we kindly request the following details:
Your registered email address or account ID.
Any relevant ticket IDs.
Please reach out to us directly at support@phemex.zendesk.com or contact our 24/7 live customer support team at Phemex.com, and we will prioritize reviewing your case.
Thank you for bringing this to our attention, and we hope to address your concerns to your satisfaction.
I'd give this scam site a zero if i could
I'd give this scam site a zero if I could. They will manipulate the price just so you never get ahead. I've lost $thousands to this site never fails when you short BTC the price will go up indefinitely until you are liquidated. Oh you think maybe you got the long right no they will drop the price right out from under until you are liquidated everytime. Don't waste your money on this pos scam company.
11 April 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
AVOID AT ALL COST THIS SCAM SITE
First, my futures position was liquidated a few % from the liquidation price, then later when trying to withdraw funds the account was blocked with no recourse. S C A M
8 April 2024
Unprompted review
Reply from Phemex
Thank you for reaching out and sharing your concerns. We deeply regret the frustration you've experienced regarding the liquidation of your futures position and the subsequent account restriction. Please allow us to assist you and address these issues promptly.
To investigate further and provide a resolution, we kindly request the following details:
Your registered account email or ID.
Any relevant ticket reference ID
You can reply directly to this email or contact our support team at support@phemex.zendesk.com. Additionally, our 24/7 live support at Phemex.com is available to assist you in real time.
We are committed to ensuring transparency and resolving this matter to your satisfaction. Thank you for bringing this to our attention, and we look forward to assisting you.
AVOID THIS EXCHANGE AT ALL COST
Liquidated position without any add margin notification, effectively stole $1000 position for supposedly 0.000001 cents into liquidation level even though app doesn't even show liquidation price to that many decimal points accuracy, absolute thieves 🤬😡 AVOID THIS EXCHANGE AT ALL COST of you value your money
4 April 2024
Unprompted review
Reply from Phemex
Thank you for sharing your experience with us. We sincerely apologize for the frustration caused by the liquidation of your position. We understand how important accuracy and transparency are when trading, and we want to investigate this matter thoroughly to address your concerns.
To assist you effectively, could you please provide the following details?
Your registered account email or ID.
The specific trade or position details, including the time of the liquidation.
Any relevant ticket reference ID
You can reply to this email or reach us directly at support@phemex.zendesk.com. Alternatively, our 24/7 live support team at Phemex.com is available to assist you in real time.
We are committed to maintaining a fair and transparent trading experience for all users and will prioritize resolving this issue promptly. Thank you for your patience and for bringing this to our attention.
I was liquidated 5% away from LQ point.
I was liquidated when the price was around 5% away from then liquidation, just like that.
Have emailed but no response thus far, seems like total bs and bad liquidity compared to other exchanges.
Maybe because i had tried to take the money out the day before?
Seems like BS and will not use again.
28 March 2024
Unprompted review
Reply from Phemex
Thank you for sharing your experience with us. We sincerely apologize for the frustration caused by the liquidation of your position. We understand how important accuracy and transparency are when trading, and we want to investigate this matter thoroughly to address your concerns.
To assist you effectively, could you please provide the following details?
Your registered account email or ID.
The specific trade or position details, including the time of the liquidation.
Any relevant ticket reference ID
You can reply to this email or reach us directly at support@phemex.zendesk.com. Alternatively, our 24/7 live support team at Phemex.com is available to assist you in real time.
We are committed to maintaining a fair and transparent trading experience for all users and will prioritize resolving this issue promptly. Thank you for your patience and for bringing this to our attention.
Avoid this absolute SCAM
Avoid this absolute SCAM, I deposited bitcoin to trade and when I went to sell BTC for USDT it for some reason sold it for TRY (Turkish Liras) , which is conveniently for them one of the only assets not available to trade or convert, now I’m stuck with an account of Turkish Liras with no clue what to do with
27 March 2024
Unprompted review
Reply from Phemex
Thank you for reaching out and bringing this issue to our attention. We sincerely regret any inconvenience caused and understand how frustrating this situation must be. Please rest assured that we are here to assist you in resolving this matter.
To better understand and address your concern, could you please provide the following details?
Your registered account email or ID.
Any relevant ticket reference ID
You can contact us directly at support@phemex.zendesk.com. Additionally, our 24/7 live support team at Phemex.com is always available to provide real-time assistance.
Thank you for your patience and understanding.
This is a fraudulent company
This is a fraudulent company. I put in a withdrawal request and i was supposed to receive a confirmation email. But after various attempts the confirmation email never makes it to my inbox. They are purposely holding peoples money hostage. Stay away from this exchange!
26 March 2024
Unprompted review
Reply from Phemex
Hi Joseph,
We’re truly sorry to hear about your experience. Your feedback is very important to us, and we’d like to make things right.
Could you please reach out to us at support@phemex.zendesk.com with more details about your situation?
Our team is ready to assist you and resolve any issues as quickly as possible.
Thank you for giving us the opportunity to improve.
Horrible fees
Stole 15 out of my 40 dollars worth of USDT
NEVER USE THIS
12 March 2024
Unprompted review
Reply from Phemex
We’re sorry to hear about your experience. Please provide your account details or any reference ticket number so we can investigate this issue promptly. You can reach us at support@phemex.zendesk.com or via our 24/7 live chat at Phemex.com.
We’re committed to resolving this for you.
Avoid at all costs.
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 on Phemex and only being able to withdraw at certain times a day make using Phemex a pain in the butt but anyone who wants to quickly execute trades and quickly withdraw profit. This website is slow, clunky and will hold your funds hostage for as long as psychically possible. Avoid at all costs.
10 January 2024
Unprompted review
Reply from Phemex
We sincerely apologize for the frustration you've experienced. We understand how important a smooth deposit/withdrawal experience is and regret that Phemex did not meet your expectations.
Please contact our customer support team at support@phemex.zendesk.com or reach us via 24/7 live support on Phemex.com for further assistance. We’re here to help and resolve any issues you may have.
Too Slow
Deposited NEAR and 4 hours later no deposit even though it confirmed on the blockchain hours ago. Contacted support and they gave me the bull of NEAR being slow sometimes. First and last time I'll be using it. Can have my trades and funds held up like this.
30 November 2023
Unprompted review
Reply from Phemex
We apologize for the delay in your NEAR deposit. While blockchain transactions can sometimes take longer than expected, we understand how frustrating it is when your funds are not reflected promptly.
To assist you further, please provide your account ID and transaction information. Our support team is ready to investigate this matter and ensure that your deposit is properly processed. You can reach us at support@phemex.zendesk.com or through our 24/7 live chat at Phemex.com.
Thank you for your patience and understanding.
My withdrawals
My withdrawal has been pending for over 3days now; it’s never like this with Eåsÿbė” I shouldn’t have listened to my friend that invited me here.
29 November 2023
Unprompted review
Reply from Phemex
We apologize for the delay you're experiencing with your withdrawal. We understand how frustrating this can be, and we are committed to resolving the issue as quickly as possible.
To help us investigate further, please provide your account ID and any relevant ticket number. You can contact us directly at support@phemex.zendesk.com or via our 24/7 live support at Phemex.com.
We appreciate your patience and are here to assist you every step of the way.
So i need kyc to recover my funds
Ok just to make something clear If you deposit any ISO coin that require a TAG such as XLM #1234567 and you miss 1 number you HAVE TO submit KYC and way too many pics to prove its you why? Its on a public ledger i had same problem on Kucoin only charge $50 to recover any coins even worth $5million+ without any KYC and bunch of pics i only gave one. I just lost $700 i dont have time to dig out every little number they ask. If exchange go down and or transaction stuck good luck recovering your funds. They word out their recover options to the point that no one can understand. I quit this exchange.
22 October 2023
Unprompted review
Reply from Phemex
We apologize for the frustration you've experienced with our deposit process and the recovery of your funds. We understand that the additional steps required for certain transactions can be inconvenient, but they are in place to ensure the safety and security of your funds.
If you are facing any issues with recovery or feel that your case hasn't been handled properly, please don’t hesitate to reach out to us. We want to help resolve this matter as efficiently as possible. You can contact us directly at support@phemex.zendesk.com or via our 24/7 live support on Phemex.com.
Thank you for your patience and understanding.
this company is totaly sh.it they…
this company is totaly sh.it they scammed me with 300€ he frozen it and dont want to give it back
100% SCAMMMM!!!!
1 September 2023
Unprompted review
Reply from Phemex
We are sorry to hear about the issues you've experienced. We understand how frustrating it can be to encounter delays or challenges when it comes to withdrawals. Rest assured, we take all concerns seriously.
To assist you with your situation, please provide your account ID and relevant ticket number. You can contact us at support@phemex.zendesk.com or through our 24/7 live support on Phemex.com.
We are committed to resolving your issue as quickly as possible.
Why is it that I can’t send a message…
Why is it that I can’t send a message for assistance from the website to the technical support? My transfers are lagging by almost a week and still haven’t been dealt with. This holds true for A Plus; I had them as a contingency. They’ve always been quick in resolving my issues.
24 August 2023
Unprompted review
Reply from Phemex
We apologize for the delays you’ve experienced with your transfers and the difficulty in reaching technical support. This is not the experience we want to provide.
To address your issue as quickly as possible, please share your account ID and any relevant ticket number. You can reach us directly at support@phemex.zendesk.com or via our 24/7 live support on Phemex.com. We are committed to resolving your issue promptly.
Thank you for your patience.
They block funds and then withhold…
They block funds and then withhold withdrawals for up to 90 days... Scam
17 August 2023
Unprompted review
Reply from Phemex
We’re sorry to hear about your negative experience. Please note that we take security and compliance measures seriously to protect both users and the platform. If you’ve experienced any issues with withdrawals, we encourage you to reach out to our support team for clarification.
To assist further, please provide your account ID and relevant ticket number. You can contact us at support@phemex.zendesk.com or via our 24/7 live support at Phemex.com.
We are committed to resolving your concerns as quickly as possible.
Hey your system has flagged my…
Hey your system has flagged my transaction as security risk. I deposited earlier today 0,1448 btc. I can’t trade or withdraw my funds. And the Phemex agents has asked for my kyc and video of my wallet where I sent the funds from, I have provided everything the agents has asked unwillingly by force and still the matter is not resolved. If you guys don’t want my btc on your platform then why don’t phemex return the funds. Why is Phemex keeping my btc as hostage? This my ticket number 521451.
9 August 2023
Unprompted review
Reply from Phemex
Thank you for reaching out to us. We understand your frustration regarding the recent transaction issue. We are happy to inform you that your case has been resolved, and the funds you deposited have been successfully processed.
We apologize for the inconvenience you experienced and appreciate your patience during this process. If you have any further questions or concerns, please feel free to reach out to us at support@phemex.zendesk.com or through our 24/7 live support on Phemex.com.
I have been using Phemex since 2020
I have been using Phemex since mid-2020, and have found it to comparable to other trading apps such as Bybit and BingX. It's easy to use and has an easy, familiar interface that allows me to set trades, stop-losses and take-profits with just a few clicks.
I routinely deposit and withdraw BTC and USDT with no problems, though the withdraw window is a bit irksome. I understand why they use a window, but that's potentially hours of not knowing for sure that I didn't mess something up.
Not a huge fan of the Mark price and the confusion it sometimes causes, but that just forced me to be better at risk management.
The Copy Trade function is actually really cool. I have used it a few times and made great gains, though I do wish lower-performing trade accounts were mixed in.
21 June 2023
Unprompted review
Reply from Phemex
Hi there Robert :)
Thank you for your detailed review! We’re happy to hear that Phemex has been working well for you since 2020 and that you find the platform easy to use. We appreciate your feedback on the withdrawal window and the Mark price—these are things we’re constantly looking at to improve.
It’s great to know you’ve had success with the Copy Trade function, and we’ll take your suggestion about mixing in lower-performing trade accounts into consideration.
If you have any further suggestions or need assistance, don’t hesitate to reach out to us at support@phemex.zendesk.com.
Happy trading!
The Phemex Team
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