What is Phemex?
Phemex is a cryptocurrency derivatives exchange that allows users to trade a variety of cryptocurrency contracts, including perpetual contracts and futures. It is known for its user-friendly interface and low trading fees.
Who is the Founder?
Phemex was co-founded by Jack Tao and other professionals from the finance and blockchain sectors. Jack Tao has a background in financial technology and previously worked at Morgan Stanley.
When Did It Start Operations?
Phemex began operations in 2019.
Where Is It Based?
Phemex is headquartered in Singapore.
In Which Countries Is It Banned?
Phemex operates globally but may have restrictions in certain countries, including:
- United States: Phemex has limited services for U.S. residents due to regulatory constraints.
- Other Countries: Various jurisdictions may impose regulations that limit access to Phemex’s services.
What Is the Trading Fee?
Phemex’s trading fees are generally competitive, with maker fees typically around 0% and taker fees around 0.1%. Fees may vary depending on trading volume.
Is Margin Trading Available?
Yes, Phemex offers margin trading, allowing users to trade with leverage. This feature enables traders to borrow funds to increase their positions, which can amplify potential returns but also increases risks.
