They Process trades three times a day
Thankfully I always use a small amount of money to try out a new exchange. My money has been Frozen and I can’t deposit more or remove it….what the hell is that about. I’d choose a more trusted Exchange if I were you. Sorry Phemex, but not being instant and holding money that isn’t yours won’t work for anyone. I will award you 1 Star ⭐️ but that’s only because there’s no lower option.
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Do not use this…
If you want to withdrawal anything from your account you better be willing to wait a while. And in the game of trading crypto a while can cost you. Unless you sign up for their premium service, they only do 3 major withdrawals a day. This terrible app cost me about $500 because I couldn’t transfer my money to another exchange to catch a dip. Why would anyone use this when there are other exchanges out there that let you withdrawal almost instantly. Do yourself a favor and avoid this garbage dump of an app.
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Do not recommend it
Despite of a lot of proportion on YouTube.
After dealing with this exchange I won’t come back to it. High fees, no many coins to covert, feeling like app 3-4 years behind of leading crypto exchanges
After dealing with this exchange I won’t come back to it. High fees, no many coins to covert, feeling like app 3-4 years behind of leading crypto exchanges
DO NOT BUY FROM THIS EXCHANGE!!
They will freeze your funds for 24 hours .
And the withdrawal fees are ridiculous i paid 100$ just to get the coins out and even paid premium just to withdraw but its been 24 hours no response from the team its just says pending review . Never ever buy from this exchange!
And the withdrawal fees are ridiculous i paid 100$ just to get the coins out and even paid premium just to withdraw but its been 24 hours no response from the team its just says pending review . Never ever buy from this exchange!
This App is a Scam
Don’t make the mistake of using this app; it is designed to cheat you out of money in every way possible. They make it hard to move money out of your account with them and their promos are full of lies.
Furthermore, I am fairly certain they gave my debit card number to someone because someone tried to buy $600 of crypto with it recently. Thankfully my bank notified me and I declined it.
Bottom line: This app is not the least bit trustworthy.
Furthermore, I am fairly certain they gave my debit card number to someone because someone tried to buy $600 of crypto with it recently. Thankfully my bank notified me and I declined it.
Bottom line: This app is not the least bit trustworthy.
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SCAM! STAY AWAY
This app is a total scam and it’s evident they’re paying people to write positive reviews. I did the $10 Twitter bonus and had the idea of converting to a crypto and let it build and eventually withdraw- WRONG. They give you bonuses but they make it VERY hard to use it. The app says I have $9.99 USD but wont let me withdraw. I said fine, I’ll convert, NOPE. I try converting to BTC or USDT and it says I have $0.00USD to convert. What a big scam. Thank god I didn’t try the other bonus which forces you to deposit a minimum of $30, plus their fees are sky high, but I had a feeling I should try that Twitter bonus before depositing any of my own money. I would write a Better Business Bureau complaint but seeing from Twitter that they’re located in Singapore, it may make things more harder, so I wont even bother. But just know everyone, this is a S C A M.
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O what a great platform
What a great exchange platform! For the past months, I’ve gotten nothing out of it.
1. I don’t know how they got 4.3 rating almost all your reviews are 1-3 stars.
2. They could not verify my account that I’ve been using on every exchange
3. You get no response from their so-called
support
4. The user interface is absolutely not friendly
5. They have to process your funds trough a third party that charges fees like it’s Christmas and it will take days before you get the amount deposited to your account. And I have to go through the same verification process on each third party. Don’t even mention withdrawals!
6. Up to now I requested that my account be deleted as the instruction on their site to delete account is not accurate no response
7. Final request: Please delete my account.
1. I don’t know how they got 4.3 rating almost all your reviews are 1-3 stars.
2. They could not verify my account that I’ve been using on every exchange
3. You get no response from their so-called
support
4. The user interface is absolutely not friendly
5. They have to process your funds trough a third party that charges fees like it’s Christmas and it will take days before you get the amount deposited to your account. And I have to go through the same verification process on each third party. Don’t even mention withdrawals!
6. Up to now I requested that my account be deleted as the instruction on their site to delete account is not accurate no response
7. Final request: Please delete my account.
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Withdrawal
You can’t withdraw you money. Easy to put money in, impossible to get it back out. I hope they make it easier soon as I’m losing money. Customer services are hopeless too. They obviously get this complaint a lot.
Won’t show latest trade in PNL history???
I had an xrp trade open and woke up to a liquidation notice which is very common (still learning how to trade) but there’s always a history of any closed or liquidated positions but it’s as if it never happened!! It only shows my previous trades and not the recently liquidated one, I also ALWAYS receive an email that says “we are sorry but your x amount of contracts has been forced to liquidate” but hours later and I have not received this email or have history of my liquidated position this is first time this has happened and I’ve very sketched out. Will no longer trust this exchange anymore. Where is my recorded position? Why not showing latest trade in PNL history which I will NEED for tax purposes as well!!!
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Response from developer
Hello! Thank you for your feedback! We sincerely apologize for the inconvenience which may have been caused, please contact us via online chat or contact support@Phemex.zendesk.com, we would like to help you with your concern.
It can fool you to believe it is simple…
The layout makes it seem like it is pretty forward and simple, as well as intuitive to amateur and veteran, alike. But there’s a pretty complicated jumble of graphs and positions and trading types and wallet types. By the time you go around, and visit every section; you have more questions, than answers. The fees and limits are dumb. Don’t plan on trying to move anything without $10, although it says minimum trades are above 1.99. It won’t let you do much unless you’re playing big hits, and then you must realize, you have too many factors to look at. It closed me out of a position completely due to liquidation. So watch what you do. You know, they also holler a lot about their promos. Their promos don’t mean anything, because once you withdraw to spot or other wallet, the bonus fees disappear. It’s kind of a joke. Not for me. Moved away from it quickly.
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