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Transferable to your own wallet
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This rating describes our assessment of the fee structure of a stock exchange or broker. It is not only the amount of fees that can differ, but also the type of fees. The most common type of fees for crypto exchanges are the "maker/taker" fees or spreads. In some cases, there are also hidden fees that are not recognizable to users at first glance.
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Phemex vs MEXC in comparison
Overview
Phemex was founded in 2019 and says it has more than 10 million users. It lists 139 crypto assets by our count and 141 perpetual futures pairs, TradFi included, with up to 150x leverage. Spot trades cost 0.10% at the entry tier, futures 0.01% maker and 0.06% taker, and Phemex publishes a monthly proof of reserves.
- Low futures fees: 0.01% maker and 0.06% taker at the entry tier
- 141 perpetual futures pairs, TradFi included, with up to 150x leverage
- Grid, martingale and AI trading bots, plus copy trading
- Monthly proof of reserves with a check of your own balance
- Fixed Bitcoin withdrawal fee of 0.000015 BTC
- Not available in the US, the United Kingdom and four Canadian provinces
- No license; AML registrations only
- Permanently banned from trading in Ontario, and on the warning lists of the UK FCA and Singapore's MAS
- Proof of reserves without a named auditor
- Mid-sized coin list of 139 crypto assets
- 0% maker and 0.05% taker spot fees on BTC/USDT, with 250 spot pairs that carry no taker fee
- 1,262 coins available in 1,900 active spot pairs
- Access to 1,207 futures contracts, along with copy trading, grid and DCA bots, and demo trading through one account
- Monthly proof of reserves with an audit report by Hacken
- Free deposits for BTC and USDT
- Not open to residents of the United States, Canada, the United Kingdom, and other countries on MEXC's restricted list
- MEXC names no licence, and several regulators have published notices about it
- Many smaller spot pairs charge 0.08% or 0.2% taker
- Futures leverage of up to 500x on BTC needs care, especially for newcomers
Features Comparison
- Cryptocurrencies
- Cryptocurrencies
0.1
%
0.10%
0.10%
₿
0.000015
0.05
%
0.05%
0.00%
₿
0.00002
139
+
$
25
1262
+
$
1
Exchange Rating
Functions
- Spot, futures and margin trading
- Phemex Earn
- Launchpad
- Spot, futures trading options
- Futures with up to 500x leverage on BTC, quantitative trading features
- Supports about 1,260 coins and 1,900 spot trading pairs
Company Details
Our Review
In our view, Phemex is a good fit for active traders: 141 perpetual futures pairs, TradFi included, with up to 150x leverage, entry-tier futures fees of 0.01% maker and 0.06% taker, a 0.10% spot fee, trading bots and copy trading. A monthly proof of reserves adds transparency, and the coin list, at 139 crypto assets, is mid-sized.
In our view, MEXC presents a compelling option for active traders seeking an extensive coin list combined with low trading fees. On BTC/USDT, users incur 0% maker and 0.05% taker fees on spot trades. Futures trading can reach up to 500x leverage on BTC. Copy trading, bots, and demo trading are accessible within the same account, supported by a monthly proof of reserves.
Low Fees vs Zero Maker Fees
Phemex offers competitive derivatives fees. MEXC offers zero maker fees on most spot pairs and a massive selection. MEXC's aggressive pricing challenges everyone.
Fee Comparison
MEXC charges 0% maker and 0.05% taker on BTC/USDT spot trades and 0% maker and 0.02% taker on BTCUSDT perpetual futures. Phemex charges 0.01% maker and 0.06% taker on perpetual futures. MEXC is cheaper.
Coin Selection
MEXC lists 1,262 cryptocurrencies. Phemex lists 139. MEXC has about nine times the variety.
The Decision
MEXC at 9.8 wins on both fees and selection.
Phemex at 7.8 offers clean derivatives focus but can't match MEXC's value.
About the author
At Exchange Flow, Ethan is recognized as the resident crypto expert. With 10+years of experience navigating the waters of global crypto exchanges, Ethan is a trusted voice in the ever-evolving world of digital currencies. He tests and scrutinizes exchanges so you don’t have to, offering reviews and articles that newbies and seasoned traders alike find invaluable. When he’s not coding, Ethan likes to travel and play retro games. He uses his crypto earnings to fund his trip around the globe.
