Comparison of Phemex vs Probit [ 2024 ]

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

Your expert: Alejandro Borja

Phemex

Your expert: Xavier Tarrasó

Probit

Main points

Fees

0,10%

Earns

Customer service

3/5

0,20%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

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.

ProBit Global’s fee structure is designed to be competitive and accessible for traders of all levels. The platform employs a flat trading fee model of 0.20%, which is slightly lower than the global industry average. This uniform fee applies to both makers and takers, simplifying the trading process and making it transparent for users. Additionally, significant discounts are available for those who choose to pay their trading fees with the PROB token, ProBit Global’s native cryptocurrency. This feature not only encourages the use of PROB within the platform but also offers an economical advantage to frequent traders, enhancing their overall trading experience.

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.

Probit

Security Measures: ProBit Global employs robust security protocols including cold storage for digital assets, two-factor authentication, and encryption, ensuring the safety and integrity of user data and funds.
High Trading Volume and Liquidity: ProBit is capable of handling up to 1.5 million transactions per second, demonstrating significant liquidity which is essential for executing trades efficiently and at competitive prices.
Reputation and Reviews: Since its launch, ProBit Global has built a strong reputation within the crypto community, supported by positive user feedback and a track record of reliability and user satisfaction.
Transparency: ProBit Global provides clear information on its fee structure, trading processes, and the use of its native token, PROB, which is used to gain discounts on trading fees, contributing to an open and transparent trading environment.
Customer Service: ProBit offers comprehensive customer support with a detailed FAQ section, quick response times, and support for various languages, enhancing user experience and trust.

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Account Minimum

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Direct link to the website

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Full name

Phemex Financial Pte. Ltd.

ProBit Global Services Limited

Regulation

Not regulated

Year founded

2019

2018

Founder

Jack Tao

Hyunsu Do

Payment methods

Transfers

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Phemex	FEATURES	Probit
Phemex allows trading with relatively low minimums, making it accessible for beginners who wish to start small.	Minimum Trade	ProBit supports low minimum trade amounts, making it accessible for beginners to start trading without requiring significant initial investments.
Offers competitive fees with several fee-free options for premium members, though slightly higher for regular users.	Trading and Transaction Fees	ProBit Global offers competitive trading fees that are below the industry average, enhanced by discounts for using the PROB token.
Supports a wide range of cryptocurrencies, providing ample trading opportunities for users.	Number of Cryptocurrencies	With over 500 cryptocurrencies available, ProBit Global provides one of the most extensive selections, catering to traders looking for variety and niche coins.
Extensive selection of trading pairs, allowing users to diversify their trading strategies.	Crypto-to-Crypto Trading Pairs	The platform supports over 300 trading pairs, offering significant flexibility for trading strategies across a broad range of cryptocurrencies.
The website provides essential information, although some users may find details on fees and terms could be clearer.	Website Transparency	ProBit is generally transparent about its fees and operations, though some users may seek more detailed information on certain operational aspects.
Phemex does not provide an exchange card for in-store purchases. It focuses on trading features and derivatives.	Credit/Debit Card	ProBit does not offer an exchange card for in-store purchases.
Offers secure cold storage options, enhancing safety for user funds against potential cyber threats.	Storage Offering	ProBit provides secure storage options, including cold storage, although it doesn’t offer as diverse an array of wallet services as some larger platforms.
Provides staking options with competitive rewards, though options are more limited compared to specialized staking platforms.	Staking and Rewards	The platform offers staking options and various rewards through the use of its PROB token, giving users additional ways to earn from their holdings.
Both the mobile app and desktop platform are highly user-friendly and robust, suitable for trading on the go.	Mobile App and Desktop	ProBit offers a functional mobile app and a user-friendly desktop platform, though some users might find the features somewhat basic compared to more advanced trading platforms.
Generally responsive customer service with multiple channels available, but some reports of delayed responses during peak times.	Customer Service	Customer service is available and generally responsive, but feedback indicates that there is room for improvement in terms of speed and the breadth of support options.
Offers multiple deposit and withdrawal methods, but some users have experienced delays and higher fees for certain methods.	Deposit and Withdraw	Deposits and withdrawals are supported efficiently on ProBit, but the options for fiat transactions are limited, and the structure for withdrawal fees can be complex.

Key features

Analysis tools

Advanced charting tools, technical analysis

Basic charting tools

Mobile APP

Security

High 4,9/5

Additional features

Margin trading, futures trading, staking, Phemex Earn

Margin trading, staking, Probit Earn, Probit token (PROB) rewards

Anonymity

Yes

Key points

Available cryptocurrencies

Primarily derivatives, few direct cryptocurrencies

500+

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.

Probit features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.

Value for money

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

Delivers reasonable value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.

Countries of operation

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

South Korea, United States, Canada, United Kingdom, Australia

Best for

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

Best for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

USD, BTC, USDT

KRW, 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.

ProBit offers a wide range of cryptocurrencies and competitive fees. It provides advanced trading tools but has lower 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.

ProBit offers multiple deposit and withdrawal methods, including bank transfers and cryptocurrencies. Withdrawals are processed quickly, 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.

ProBit provides an easy and fast account opening process. Users need to provide personal details and verify their identity. The process is fully digital 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.

ProBit 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.

ProBit offers comprehensive security measures, including 2FA and cold storage. However, it lacks regulation from 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 one of the experts here at our website, I highly recommend ProBit Global for its impressive array of over 500 cryptocurrencies and more than 300 trading pairs. This diversity makes it an excellent platform for both new and seasoned traders looking to explore various investment opportunities. Moreover, its competitive trading fees, especially when using the PROB token, make it an economically smart choice. Whether you’re beginning your crypto journey or seeking new trading strategies, ProBit Global’s user-friendly and efficient platform stands out as a strong candidate in the crowded field of crypto exchanges.

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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.