Phemex vs SimpleSwap

Phemex3.5/5

VS

SimpleSwap4.1/5

Feature	PhemexVisit	SimpleSwapVisit
Ratings
Our score	3.5/5	4.1/5
User rating	No reviews yet	No reviews yet
Fees	3.5	3.0
Security & trust	3.0	4.0
Asset selection	4.0	5.0
Ease of use	4.0	4.5
Support	3.5	4.0
Specs
Markets	Spot, Futures, Margin, Copy trading	Spot
Maker fee	0.01%	Not disclosed
Taker fee	0.06%	Not disclosed
Coins listed	Not disclosed	2,800
Fiat deposit methods	Bank transfer, Card	Card
KYC required	Yes	No
Accepts US customers	No	Not disclosed
Proof of reserves	Yes	Not disclosed
Staking / earn	Yes	Not disclosed
Mobile app	Yes	Yes
Security features	Cold storage, Merkle-tree Proof of Reserves, Multi-signature wallets, Two-factor authentication, Fireblocks custody	Non-custodial architecture, Direct wallet settlements
Futures & perpetuals	Yes	No
Max leverage (x)	150	Not disclosed
Copy trading	Yes	No
P2P market	Not disclosed	No
Earn / savings products	Yes	Not disclosed
User protection fund	Yes	Not disclosed
Referral program	Yes	Yes
Company
Founded	2019	2018
Headquarters	Singapore	—
Investors	Not disclosed	Not disclosed
Strengths and weaknesses
Pros	Competitive standard futures maker fee of 0.01% Offers up to 150x leverage on perpetual contracts Merkle-tree Proof of Reserves provides transparent solvency checks Built-in grid, martingale, and signal bots require no API setup	No account registration required for standard crypto-to-crypto swaps Non-custodial model delivers converted assets directly to personal wallets Extensive catalog covering more than 2,800 cryptocurrencies Choice between fixed guaranteed rates and floating market rates
Cons	Standard contract taker fee of 0.06% is higher than major competitors Experienced a hot-wallet security incident in January 2025 Not available to US traders and lacks an EU MiCA license Requires mandatory identity verification to unlock full withdrawals	Built-in exchange spreads can exceed traditional spot order-book trading fees Transactions flagged by automated AML risk scoring trigger sudden KYC holds No order books, limit orders, futures, or margin trading Fiat purchases rely on third-party processors with separate fees and verification
Best for	High-leverage derivatives traders, Maker-order algorithmic bot users, Traders using automated copy strategies	Registration-free crypto-to-crypto swaps, Non-custodial cross-chain transfers, Trading rare altcoins without CEX balances

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