Comparison of Phemex vs Exmo [ 2024 ]

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

Your expert: Alejandro Borja

Phemex

Your expert: Xavier Tarrasó

Exmo

Main points

Fees

0,10%

Earns

Customer service

3/5

≤0,30%

Fees

Yes

Earns

3/5

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 – Reasonable fees with strong local support in Europe.

Level

0,10%

≤0,30%

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.

Exmo employs a straightforward fee structure with competitive rates that cater to a wide range of traders. The exchange charges a flat trading fee starting at 0.3%, which can be reduced based on trading volume and by using Exmo’s native token, EXM, for fee discounts. The maker and taker fees are equal, simplifying the fee calculation process for users. In terms of deposits, Exmo does not charge any fees for deposits made through most payment methods. However, withdrawal fees are applied and vary depending on the cryptocurrency being withdrawn. For example, the withdrawal fee for Bitcoin is 0.0005 BTC, which is slightly below the global industry average . Overall, Exmo’s fee structure is transparent and competitive, offering lower fees for high-volume traders and those utilizing their native token for transactions. This makes it an appealing option for both casual and frequent traders looking to minimize their trading 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.

Exmo

Year Founded: Exmo was established in 2013, giving it over a decade of experience in the cryptocurrency market. This long-standing presence indicates stability and reliability in the industry.
Volume Managed: Exmo handles a substantial daily trading volume, which ensures high liquidity and smooth transaction processing. This high volume also reflects the platform's popularity and trust among traders.
Number of Users: With a robust user base, Exmo supports millions of traders worldwide. This extensive user adoption is a testament to the platform's credibility and trustworthiness.
Reputation and Reviews: Exmo has garnered positive reviews for its reliability, user-friendly interface, and competitive fees. The platform's reputation is reinforced by its commitment to security and continuous improvements, making it a trusted choice for many in the crypto community.
Security Methods: Exmo employs advanced security measures, including two-factor authentication (2FA) and cold storage for cryptocurrencies. These protocols ensure that user funds and data are well-protected against potential threats.

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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

Yes

NFT marketplace

Cripto/debit card

Full name

Phemex Financial Pte. Ltd.

EXMO EXCHANGE LTD.

Regulation

Not regulated

Registrado en el Reino Unido

Year founded

2019

2013

Founder

Jack Tao

Ivan Petukhovsky and Pavel Lerner

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Phemex	FEATURES	Exmo
Phemex allows trading with relatively low minimums, making it accessible for beginners who wish to start small.	Minimum Trade	The minimum trade amount on Exmo is low, making it accessible for new traders.
Offers competitive fees with several fee-free options for premium members, though slightly higher for regular users.	Trading and Transaction Fees	Exmo has competitive trading fees, with a flat fee model starting at 0.3%, which can be reduced based on trading volume .
Supports a wide range of cryptocurrencies, providing ample trading opportunities for users.	Number of Cryptocurrencies	Exmo supports over 50 cryptocurrencies, providing a good range for trading but fewer than some major exchanges .
Extensive selection of trading pairs, allowing users to diversify their trading strategies.	Crypto-to-Crypto Trading Pairs	Exmo offers around 180 trading pairs, giving users reasonable options for trading .
The website provides essential information, although some users may find details on fees and terms could be clearer.	Website Transparency	Exmo’s website is transparent, providing detailed information on fees, security measures, and supported assets .
Phemex does not provide an exchange card for in-store purchases. It focuses on trading features and derivatives.	Credit/Debit Card	Exmo does not offer its own credit or debit card for purchases with cryptocurrencies .
Offers secure cold storage options, enhancing safety for user funds against potential cyber threats.	Storage Offering	Exmo employs robust security measures including cold storage for the majority of user funds .
Provides staking options with competitive rewards, though options are more limited compared to specialized staking platforms.	Staking and Rewards	Exmo does not currently offer staking and reward features, which limits earning opportunities for users .
Both the mobile app and desktop platform are highly user-friendly and robust, suitable for trading on the go.	Mobile App and Desktop	Exmo provides a user-friendly mobile app and desktop interface, ensuring accessibility for trading on the go .
Generally responsive customer service with multiple channels available, but some reports of delayed responses during peak times.	Customer Service	While Exmo offers 24/7 live chat and email support, response times can be slow, affecting user satisfaction .
Offers multiple deposit and withdrawal methods, but some users have experienced delays and higher fees for certain methods.	Deposit and Withdraw	Exmo supports multiple deposit and withdrawal methods, including bank transfers, credit/debit cards, and electronic wallets .

Key features

Analysis tools

Advanced charting tools, technical analysis

Basic charting tools, technical indicators

Mobile APP

Security

High 4,9/5

High 4,5/5

Additional features

Margin trading, futures trading, staking, Phemex Earn

Margin trading, staking, Exmo cashback, fiat on/off ramps

Anonymity

Yes

Key points

Available cryptocurrencies

Primarily derivatives, few direct cryptocurrencies

50+

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.

Exmo provides 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 user-friendly platform, making it a good choice for European traders.

Countries of operation

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

United Kingdom, Russia, Ukraine, Kazakhstan, Poland

Best for

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

Ideal for European traders looking for a reliable platform with competitive fees and a user-friendly interface.

Base currencies available

USD, BTC, USDT

USD, EUR, RUB, 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.

EXMO is a European exchange with a good range of cryptocurrencies and easy fiat integration. It offers competitive fees but lacks 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.

EXMO supports various deposit methods, including bank transfers and crypto. Withdrawals are processed efficiently, with competitive 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.

EXMO provides a straightforward account registration process. Users need to submit personal information and verify their identity. The process is efficient and usually takes 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.

EXMO provides support through email and live chat. The support team is responsive and available 24/7, making it convenient for users needing immediate help.

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.

EXMO ensures security with 2FA, encryption, and cold storage. However, it is not regulated by top-tier 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 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 at Threenvest, I recommend Exmo for its robust security measures, low trading fees, and support for multiple fiat currencies, which make it accessible and cost-effective for a wide range of traders. While the user interface could use an update and customer support response times can be slow, the platform’s reliability and comprehensive features outweigh these drawbacks. Exmo is a solid choice for both new and experienced traders looking for a dependable and secure cryptocurrency 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.