Comparison of Phemex vs Coinex [ 2024 ]

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

Your expert: Alejandro Borja

Phemex

Your expert: Xavier Tarrasó

Coinex

Main points

Fees

0,10%

Earns

Customer service

3/5

≤0,20%

Fees

Yes

Earns

4/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.1 – Low fees with a focus on derivatives trading.

4.0 – Competitive fees with additional benefits for token holders.

Level

0,10%

≤0,20%

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.

CoinEx employs a straightforward and transparent fee structure that appeals to a broad range of traders. The platform charges a flat trading fee of 0.2% per transaction, which is competitive within the industry. This rate applies uniformly to both makers and takers, simplifying the trading process and making it easier for users to understand their potential costs. Additionally, CoinEx offers tiered discounts based on the trading volume and CET holdings, allowing active traders to significantly reduce their fees. This approach not only incentivizes more trading activity but also enhances loyalty to the platform. Overall, the fee policy at CoinEx is designed to support both casual and serious traders effectively.

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.

Read phemex review

Coinex

Security Methods: CoinEx uses an advanced multi-tier, multi-cluster system architecture and a strong set of security protocols to protect users' data and assets.
Customer Service: CoinEx provides 24/7 customer support and has a comprehensive FAQ and support system, helping users resolve their issues quickly and efficiently.
Reputation and Reviews: CoinEx has maintained a positive reputation within the crypto community, often praised for its user-friendly interface and robust security measures.
Transparency: CoinEx is known for being upfront about its trading fees, wallet maintenance, and system upgrades, contributing to a transparent trading environment for its users.
Volume Managed and Trading Volume: CoinEx supports a significant trading volume and liquidity, making it a reliable choice for executing large trades without a major impact on the market price.

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Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

Phemex Financial Pte. Ltd.

ViaBTC Technology Limited

Regulation

Not regulated

Year founded

2019

2017

Founder

Jack Tao

Haipo Yang

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Phemex	FEATURES	Coinex
Phemex allows trading with relatively low minimums, making it accessible for beginners who wish to start small.	Minimum Trade	CoinEx allows for relatively low minimum trade amounts, making it accessible for beginners.
Offers competitive fees with several fee-free options for premium members, though slightly higher for regular users.	Trading and Transaction Fees	Fees are competitive but not the lowest in the market, impacting frequent traders.
Supports a wide range of cryptocurrencies, providing ample trading opportunities for users.	Number of Cryptocurrencies	Offers a wide selection of over 500 cryptocurrencies, providing vast trading opportunities.
Extensive selection of trading pairs, allowing users to diversify their trading strategies.	Crypto-to-Crypto Trading Pairs	Extensive range of trading pairs, allowing for 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 clear information on fees and policies but could improve on educational content.
Phemex does not provide an exchange card for in-store purchases. It focuses on trading features and derivatives.	Credit/Debit Card	CoinEx does not currently offer a branded card for customers to use for in-store purchases or benefits.
Offers secure cold storage options, enhancing safety for user funds against potential cyber threats.	Storage Offering	Offers secure storage options, including cold storage, though details can be more transparent.
Provides staking options with competitive rewards, though options are more limited compared to specialized staking platforms.	Staking and Rewards	Provides staking options with competitive rewards, though not as high as some specialized platforms.
Both the mobile app and desktop platform are highly user-friendly and robust, suitable for trading on the go.	Mobile App and Desktop	Both mobile and desktop platforms are highly rated for their usability and feature set.
Generally responsive customer service with multiple channels available, but some reports of delayed responses during peak times.	Customer Service	Responsive but sometimes slow, especially during high demand periods.
Offers multiple deposit and withdrawal methods, but some users have experienced delays and higher fees for certain methods.	Deposit and Withdraw	Efficient processes with multiple crypto options, though limited fiat options impact the score.

Key features

Analysis tools

Advanced charting tools, technical analysis

Basic to intermediate charting tools

Mobile APP

Security

High 4,9/5

High 4,6/5

Additional features

Margin trading, futures trading, staking, Phemex Earn

Margin trading, futures trading, staking, CoinEx token (CET) rewards

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.

CoinEx offers a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

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 diverse range of supported cryptocurrencies, making it an affordable option for traders.

Countries of operation

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

United States, United Kingdom, Canada, Australia, Singapore

Best for

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

Suitable for traders of all experience levels seeking a platform with a wide range of cryptocurrencies and competitive fees.

Base currencies available

USD, BTC, USDT

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.

CoinEx provides a good selection of cryptocurrencies and competitive fees. It offers advanced trading tools but has moderate liquidity compared to larger exchanges.

Deposit and withdrawal

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

CoinEx supports various deposit methods, including bank transfers and crypto. Withdrawals are processed efficiently, usually within a day, 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.

CoinEx offers a straightforward and fully digital account opening process. Users need to provide personal information and verify their identity. The process is quick, usually taking less than a day to complete.

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.

CoinEx offers customer support via email and live chat. The support team is responsive and helpful, but the lack of 24/7 support may be a limitation 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.

CoinEx offers robust security features, including 2FA and cold storage. However, it is not regulated by major financial authorities, which might 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 closely observing the cryptocurrency exchange landscape, I find CoinEx to be a commendable platform for both novice and experienced traders. Its expansive selection of cryptocurrencies caters well to those looking to diversify their portfolios beyond the mainstream offerings. The user interface, designed with clarity in mind, ensures that even those new to crypto trading can navigate and execute trades with ease. However, it’s important for users to be aware of the customer support response times, which, while reliable, can experience delays during peak times. This understanding should prepare traders to manage their trading activities effectively, keeping in mind the support dynamics. Overall, CoinEx’s robust security measures and competitive fee structure make it a worthy contender in the crowded market of cryptocurrency exchanges.

View all comparisons against Phemex

View all comparisons against Coinex

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.