Comparison of Phemex vs Xeggex [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Phemex vs Xeggex comparison!

Your expert: Alejandro Borja

Phemex

Your expert: Xavier Tarrasó

Xeggex

Main points

Fees

0,10%

Earns

Customer service

3/5

0,30%/0,40%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.1 – Low fees with a focus on derivatives trading.

3.9 – Competitive fees with additional benefits for high-volume trading.

Level

0,10%

0,30%/0,40%

Brief explanation

Phemex implements a transparent and competitive commission structure, which is one of its standout features. The platform offers zero-fee spot trading for premium members, a unique model that encourages active trading and enhances affordability. For non-premium users, the fees remain competitive with the industry average. The fees for futures trading are also attractively low, with maker and taker fees structured to incentivize liquidity provision on the platform. This setup allows traders to manage their costs effectively, which is especially beneficial in a market where margins can be tight.

Xeggex structures its commission system to be straightforward and competitive within the industry. The exchange charges a basic trading fee, which is tiered based on the user’s trading volume over a 30-day period, rewarding more active traders with lower fees. Additionally, Xeggex applies withdrawal fees, which vary by cryptocurrency but generally align with network transaction costs to ensure fees remain reasonable. This transparent fee structure helps users plan their trading activities without unexpected costs.

Phemex

Robust Security Measures: Phemex employs comprehensive security protocols, including cold wallet storage, two-factor authentication, and advanced encryption technology to protect user assets and data.
High Trading Volume and Liquidity: With significant daily trading volumes, Phemex offers high liquidity, facilitating quick and efficient execution of trades without significant price slippage.
Transparent Withdrawal and Deposit Policies: Phemex provides clear and concise policies regarding withdrawals and deposits, ensuring users understand the terms of service and any associated fees clearly.
Strong Reputation and Positive Reviews: Since its launch, Phemex has built a strong reputation in the cryptocurrency community, supported by positive user reviews that praise its reliability, customer service, and platform stability.
Effective Customer Service: Phemex offers responsive and helpful customer support, ensuring that users' queries and issues are addressed promptly, which is crucial for maintaining trust and user satisfaction.

Xeggex

Security Methods: Xeggex has implemented robust security measures including two-factor authentication and end-to-end encryption to safeguard user information and assets. This commitment to security is paramount in gaining user trust.
Year Founded: Being established in a period of rapid digital currency expansion, Xeggex has a foundation that aligns with modern cryptographic standards and evolving market needs. The timing of its launch reflects an understanding of market trends and user demands.
Reputation and Reviews: Although relatively new, Xeggex has quickly gained a positive reputation among users for its user-friendly interface and effective customer support. Positive reviews often highlight the ease of use and reliability.
Customer Service: Xeggex places a strong emphasis on customer support with options for real-time assistance. This responsiveness to user needs enhances its trustworthiness and reliability as a service provider.
Withdrawal and Deposit Policies: The exchange maintains clear and concise policies regarding withdrawals and deposits, ensuring transparency and reliability in financial transactions, which builds additional trust among its users.

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Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Full name

Phemex Financial Pte. Ltd.

Unknown

Regulation

Not regulated

Year founded

2019

2021

Founder

Jack Tao

Unknown

Payment methods

Transfers

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Phemex	FEATURES	Xeggex
Phemex allows trading with relatively low minimums, making it accessible for beginners who wish to start small.	Minimum Trade	Xeggex allows for relatively low minimum trades, making it accessible for beginners to start small.
Offers competitive fees with several fee-free options for premium members, though slightly higher for regular users.	Trading and Transaction Fees	The fees are competitive but could be improved to better match or undercut industry leaders.
Supports a wide range of cryptocurrencies, providing ample trading opportunities for users.	Number of Cryptocurrencies	Offers a wide range of cryptocurrencies, providing good options for diversified trading.
Extensive selection of trading pairs, allowing users to diversify their trading strategies.	Crypto-to-Crypto Trading Pairs	Supports numerous trading pairs, facilitating versatile trading strategies.
The website provides essential information, although some users may find details on fees and terms could be clearer.	Website Transparency	The website provides essential information, though some areas could benefit from greater detail regarding policies and operations.
Phemex does not provide an exchange card for in-store purchases. It focuses on trading features and derivatives.	Credit/Debit Card	Xeggex lacks an exchange card, missing an opportunity for added convenience and benefits for its users.
Offers secure cold storage options, enhancing safety for user funds against potential cyber threats.	Storage Offering	Provides secure storage solutions with an emphasis on safety, though it lacks some advanced features found in specialized wallets.
Provides staking options with competitive rewards, though options are more limited compared to specialized staking platforms.	Staking and Rewards	Offers basic staking options and rewards which are attractive but not as competitive as some other exchanges.
Both the mobile app and desktop platform are highly user-friendly and robust, suitable for trading on the go.	Mobile App and Desktop	Both the mobile app and desktop platform are well-designed, offering intuitive navigation and a seamless trading experience.
Generally responsive customer service with multiple channels available, but some reports of delayed responses during peak times.	Customer Service	Responsive and helpful, but there are occasional delays during peak times.
Offers multiple deposit and withdrawal methods, but some users have experienced delays and higher fees for certain methods.	Deposit and Withdraw	Processes are straightforward with reasonable limits and fees, though improvements could be made in processing times.

Key features

Analysis tools

Advanced charting tools, technical analysis

Basic charting tools

Mobile APP

Security

High 4,9/5

High 4,6/5

Additional features

Margin trading, futures trading, staking, Phemex Earn

Margin trading, staking, Xeggex Earn, fiat on/off ramps

Anonymity

Yes

Key points

Available cryptocurrencies

Primarily derivatives, few direct cryptocurrencies

100+

User-friendliness

Phemex provides a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.

Xeggex offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.

Value for money

Offers good value for money with competitive fees and advanced trading features, suitable for both retail and institutional traders.

Offers good value for money with competitive fees and a user-friendly platform, making it suitable for both beginners and experienced traders.

Countries of operation

Global, including United States, Canada, United Kingdom, Australia, Germany

United States, Canada, United Kingdom, Australia, Germany

Best for

Suitable for both retail and institutional traders interested in derivatives trading with competitive fees and advanced features.

Suitable for both beginners and experienced traders seeking a user-friendly platform with competitive fees.

Base currencies available

USD, BTC, USDT

Multiple including USD, BTC

Account

Trading

Phemex offers extensive trading options including spot, margin, and futures trading. It provides advanced tools suitable for experienced traders but might be overwhelming for beginners.

Xeggex focuses on providing a secure and user-friendly platform with a decent range of cryptocurrencies. It offers competitive fees but lacks some advanced trading features.

Deposit and withdrawal

Phemex supports multiple deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed efficiently, with low fees.

Xeggex supports various deposit and withdrawal methods, including bank transfers and cryptocurrencies. Withdrawals are processed efficiently, with low fees.

Account opening process

Phemex offers a seamless and fully digital account opening process. Users need to submit personal information and verify their identity. The process is quick and usually completed within a day.

Xeggex offers a seamless and fully digital account opening process. Users need to provide personal information and verify their identity. The process is quick and usually completed within a day.

KYC required?

Yes

Customer Service

Phemex offers extensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely assistance.

Xeggex offers customer support via email and live chat. The response time is quick, but the support team is not available 24/7, which may be a drawback for some users.

Security

Phemex provides extensive security measures, including 2FA and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some users.

Xeggex provides strong security with 2FA and encryption. Despite its robust security measures, the platform is not regulated by top-tier financial authorities, which could be a concern for some investors.

Which of these exchanges is for you?

Alejandro Borja

As one of the experts reviewing cryptocurrency exchanges on our website, I find Phemex to be a highly compelling choice for traders. The platform impresses with its robust security features and a wide array of trading options, catering to both newcomers and seasoned traders. Personally, I appreciate the platform’s user-friendly interface and the fact that it offers high liquidity, which is crucial for executing trades swiftly and efficiently. I would recommend Phemex to anyone looking to dive into the world of cryptocurrency trading, especially those who value security and a diverse range of trading instruments.

Xavier Tarrasó

As an expert on our website, I highly recommend Xeggex for newcomers in the cryptocurrency space. Its intuitive interface and diverse cryptocurrency offerings make it a standout choice for those starting their trading journey. However, if you’re an advanced trader, you might find the analytical tools a bit limited. Overall, Xeggex presents a solid option with its focus on security and user-friendly design, making it worth considering in your search for a reliable exchange.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.