Bitget vs Phemex in comparison

Bitget is restricted: its terms list Austria, France, and Germany, along with Canada and the United States, among its Prohibited Countries. Both Bitget and Phemex target derivatives traders, and neither accepts US customers. In our view, Bitget has a slight edge overall, mainly because we rate it higher for security and trust and for beginner friendliness. On the other hand, Phemex has lower fees for futures maker orders and is accessible to users in Germany. Residency often determines the choice: Bitget includes the UK in its service area, which Phemex excludes.

Where you can use them

Neither exchange is available to Americans. Bitget's terms identify the United States and its territories as Prohibited Countries, and Phemex requires every user to declare they are not a US citizen, Green Card holder, or US tax resident.

In Europe, the scenario differs. Bitget's terms exclude Austria, France, and Germany, and it lacks MiCA authorization, although Bitget EU has applied for one with Austria's FMA. Phemex does not exclude those countries and is available to readers in Germany, but it is not listed in ESMA's register of crypto-asset service providers, and its archived Polish registration did not authorize any crypto-asset services.

The United Kingdom presents a reverse situation. Bitget does not prohibit UK residents and has its UK financial promotions approved through an FCA-authorized partner, while Phemex restricts access in the UK. The FCA has issued a warning that Phemex is not authorized and may be targeting people in the UK. In Canada, Bitget is entirely closed, whereas Phemex excludes Ontario, Québec, Alberta, and Saskatchewan.

Trading fees

For spot trading, both exchanges start at 0.10% maker and 0.10% taker fees. Using BGB to pay fees reduces Bitget's rate to 0.08%, and the top Star VIP level at Phemex offers free spot maker orders with 0.04% on taker orders. A note regarding Bitget: its public API lists 0.20% for 54 spot pairs, including BTC/USDT, which is higher than its fee page states.

Phemex is cheaper for makers on perpetual futures, at 0.01% against 0.02% at Bitget, while both charge 0.06% on taker orders. Bitget offers leverage of up to 150x on its BTC perpetual, and Phemex goes up to 150x on its perpetual futures. Moving bitcoin off the platform costs a fixed 0.00002 BTC at Bitget and 0.000015 BTC at Phemex. We rate Phemex slightly higher for fees and costs.

Coins and products

Bitget lists more than 500 crypto assets by our count, more than three times as many as Phemex. It has also moved into equities, with tokenized US stocks issued by Reality, real US stocks and ETFs bought with USDC through a broker, more than 40 stock perpetuals and CFDs through MT5. Its bots cover spot grid, futures grid and spot Martingale, and GetAgent is an AI assistant that turns one sentence into analysis, orders and position management.

Phemex stays closer to derivatives: perpetuals margined in USDT or in coins, TradFi futures on stocks, metals, commodities, indices and forex, pre-market futures, copy trading, and grid and martingale bots with an AI bot that generates their parameters, plus Phemex Earn, Launchpool and a demo mode. We rate Phemex slightly higher for range of functions.

Security and track record

We rate Bitget slightly higher for security and trust, though its largest incident is recent. In September 2026, attackers breached Bitget's hot and warm wallets; Bitget confirmed that about $387.5 million went to attacker-controlled addresses, said its cold wallets were not affected and that the loss falls within the coverage of its User Protection Fund, and reopened withdrawals in phases. That fund holds 3,705 BTC, and Bitget publishes a monthly Merkle-tree proof of reserves, with a total reserve ratio of 115% in the latest snapshot. Bitget is registered with AUSTRAC in Australia through BTGT AUS PTY LTD, and the FSA of Seychelles is still assessing a license application from its operator, BTG Technology Holdings Limited.

Phemex was established in 2019. Its hot wallets suffered an attack in January 2025, but Phemex reported that cold wallets stayed untouched and company reserves compensated every user loss. Phemex reports that over 70% of user assets are stored in cold wallets and publishes monthly Merkle-tree reserve snapshots. The Capital Markets Tribunal in Ontario banned Phemex from trading in the region permanently in June 2025, imposing a $300,000 penalty, while Singapore's MAS has included Phemex on its Investor Alert List.

Ease of use and support

We rate Bitget slightly higher for beginner friendliness and the two the same for operation. Both make you verify your identity: Bitget has required it since January 1, 2024 for deposits and trading, and Phemex sets the withdrawal limit at 0 USDT until you are verified, with checks that Phemex says usually take 2 to 5 minutes. A demo mode at Phemex lets you practice first.

We rate support the same. Bitget's app listing names 24/7 support in the app or by email, and the Phemex help center advertises 24/7 support with live chat and a ticket form.

Our verdict by criterion

In our view, Bitget is slightly ahead overall for security and trust, beginner friendliness and its larger coin list, but its restrictions weigh more than the score: it is not an option in Germany, Austria, France or Canada. Phemex is the pick for futures traders who want the lower maker fee and live where it operates.

• Fees and costs: we rate Phemex slightly higher
• Range of functions: we rate Phemex slightly higher
• Operation: we rate them the same
• Beginner friendliness: we rate Bitget slightly higher
• Security and trust: we rate Bitget slightly higher
• Support: we rate them the same

Which one fits you

• For readers in the UK: choose Bitget, as Phemex imposes restrictions in the UK.
• For readers in Germany, Austria, or France: opt for Phemex, which does not exclude these countries, unlike Bitget.
• For futures traders focused on maker orders: Phemex, with its 0.01% fee.
• For traders looking for more altcoins or stock tokens: Bitget is the choice.
• For readers in Ontario, Québec, Alberta, or Saskatchewan: neither exchange is suitable.

Read our Bitget review and our Phemex review for the full picture of each. For more pairs, see Bitget vs Binance and Binance vs Phemex, and our ranking of exchanges for derivatives covers more futures venues.

Questions about Bitget and Phemex

Is Bitget better than Phemex?

In our view, slightly, mainly for security and trust and for beginners. Phemex charges less on futures maker orders and serves Germany, where Bitget does not.

Can you use Bitget or Phemex in the US?

No. Bitget lists the United States as a Prohibited Country, and Phemex requires users to confirm they are not a US person.

Which is cheaper, Bitget or Phemex?

For spot trading, both start at 0.10%, with Bitget reducing to 0.08% when fees are paid in BGB. On perpetual futures, Phemex charges a 0.01% maker fee compared to 0.02% at Bitget, and both have a 0.06% taker fee.