Comparison of Cex.Io vs Phemex [ 2024 ]

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

Your expert: Alejandro Borja

Cex.Io

Your expert: Xavier Tarrasó

Phemex

Main points

Fees

0,15%/0,25%

Earns

Yes

Customer service

4/5

0,10%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

3.8 – Reasonable fees but slightly higher for fiat transactions.

4.1 – Low fees with a focus on derivatives trading.

Level

0,15%/0,25%

0,10%

Brief explanation

CEX.IO operates with a transparent fee structure primarily revolving around trading and transaction fees. For traders, the fees are tiered based on the 30-day trade volume, starting from 0.25% for takers and 0.16% for makers at the lowest tier, and decreasing with higher volume. This competitive pricing makes it appealing for both high-volume traders and newcomers. The platform also charges fees for deposits and withdrawals, which vary depending on the currency and method of payment. For example, credit card deposits incur a fee, whereas some methods like bank transfers might offer free deposits depending on the user’s location.

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.

Cex.Io

Security Methods: CEX.IO employs a comprehensive security framework which includes two-factor authentication, encryption technology, and cold storage of digital assets, ensuring a high level of user fund safety.
Reputation and Reviews: Since its inception in 2013, CEX.IO has maintained a strong reputation within the cryptocurrency community for reliability and trustworthiness, reflected in positive user reviews across various platforms.
Regulation Compliance: CEX.IO is registered with FinCEN in the USA and complies with international financial regulations, providing a secure trading environment and adhering to legal standards for financial operations.
Customer Service: The exchange offers dedicated customer support with a commitment to resolving user issues promptly, enhancing user trust through effective communication and support.
Trading Volume and Liquidity: CEX.IO consistently shows strong trading volumes, ensuring liquidity and enabling users to execute transactions swiftly and at desired prices, making it a reliable platform for trading major cryptocurrencies.

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.

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Account Minimum

Get started with just $100.

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Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

CEX.IO Ltd

Phemex Financial Pte. Ltd.

Regulation

Regulated in the Reino Unido

Not regulated

Year founded

2013

2019

Founder

Oleksandr Lutskevych

Jack Tao

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Cex.Io	FEATURES	Phemex
CEX.IO allows for small minimum trade amounts, making it accessible for beginners to start trading with a low barrier of entry.	Minimum Trade	Phemex allows trading with relatively low minimums, making it accessible for beginners who wish to start small.
The fees are competitive but could be more transparent, particularly concerning the different tiers and specific services.	Trading and Transaction Fees	Offers competitive fees with several fee-free options for premium members, though slightly higher for regular users.
CEX.IO supports a diverse range of cryptocurrencies, offering users a broad selection of popular and lesser-known coins.	Number of Cryptocurrencies	Supports a wide range of cryptocurrencies, providing ample trading opportunities for users.
The exchange provides a substantial number of trading pairs, facilitating versatile trading strategies.	Crypto-to-Crypto Trading Pairs	Extensive selection of trading pairs, allowing users to diversify their trading strategies.
The website offers clear information on trading conditions, security protocols, and company policies, making it easy for users to find essential details.	Website Transparency	The website provides essential information, although some users may find details on fees and terms could be clearer.
The card is linked to your crypto account, providing convenience and benefits like crypto cashback on purchases.	Credit/Debit Card	Phemex does not provide an exchange card for in-store purchases. It focuses on trading features and derivatives.
Provides secure storage options with a majority of funds held in cold storage, though details could be more accessible to users.	Storage Offering	Offers secure cold storage options, enhancing safety for user funds against potential cyber threats.
Offers staking for several cryptocurrencies with competitive rewards; however, more coins could be added to enhance this feature.	Staking and Rewards	Provides staking options with competitive rewards, though options are more limited compared to specialized staking platforms.
Both platforms are user-friendly and fully-featured, making trading accessible on the go and from desktop devices.	Mobile App and Desktop	Both the mobile app and desktop platform are highly user-friendly and robust, suitable for trading on the go.
Customer service is available and helpful but can be slow to respond during peak times. Improvements in response time could enhance user experience.	Customer Service	Generally responsive customer service with multiple channels available, but some reports of delayed responses during peak times.
Deposits are straightforward and usually quick, but withdrawal processes and associated fees need clearer explanations and potentially lower costs.	Deposit and Withdraw	Offers multiple deposit and withdrawal methods, but some users have experienced delays and higher fees for certain methods.

Key features

Analysis tools

Basic charting tools, technical indicators

Advanced charting tools, technical analysis

Mobile APP

Security

High 4,9/5

Additional features

Margin trading, staking, CEX.io Loan service, fiat on/off ramps

Margin trading, futures trading, staking, Phemex Earn

Anonymity

Yes

Key points

Available cryptocurrencies

80+

Primarily derivatives, few direct cryptocurrencies

User-friendliness

Features a user-friendly interface that is easy to navigate, making it suitable for beginners. The platform provides a seamless trading experience with essential features easily accessible.

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.

Value for money

Delivers decent value for money with competitive fees and strong security features, suitable for both beginners and experienced traders.

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

Countries of operation

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

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

Best for

Suitable for global traders looking for a reliable and secure platform with competitive fees and a wide range of supported cryptocurrencies.

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

Base currencies available

USD, EUR, GBP, RUB, BTC

USD, BTC, USDT

Account

Trading

CEX.IO offers a secure and user-friendly platform with a good range of cryptocurrencies. It supports fiat integration and has competitive fees but lacks some advanced trading tools.

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.

Deposit and withdrawal

CEX.IO provides multiple deposit options, including bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed quickly, usually within a day, with competitive fees.

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

Account opening process

CEX.IO offers a straightforward account opening process. Users need to provide personal information, verify their identity, and the process is typically completed within a day, making it efficient and user-friendly.

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.

KYC required?

Yes

Customer Service

CEX.IO provides customer support via email, live chat, and phone. The support team is responsive and available 24/7, ensuring users get timely assistance.

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.

Security

CEX.IO offers comprehensive security measures, including 2FA, encryption, and cold storage. It is regulated by several financial authorities, ensuring high security for investors.

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.

Which of these exchanges is for you?

Alejandro Borja

As one of the experts reviewing CEX.IO on our website, I’ve had a positive experience with their platform overall. It’s a great choice for both newcomers to cryptocurrency and seasoned traders. The user interface is straightforward, making navigation and trading uncomplicated. Additionally, their security measures give me confidence in recommending CEX.IO as a reliable place to trade and store digital assets. For anyone looking to dive into crypto trading or expand their portfolio, CEX.IO offers a solid, dependable foundation.

Xavier Tarrasó

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.

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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.