Comparison of Phemex vs Primexbt [ 2024 ]

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

Your expert: Alejandro Borja

Phemex

Investing risks losing your money

Your expert: Xavier Tarrasó

Primexbt

Investing risks losing your money

Main points

Fees

0,10%

Earns

Customer service

3/5

≤0,05%

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.

4.1 – Competitive fees with a focus on leveraged trading.

Level

0,10%

≤0,05%

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.

PrimeXBT structures its commission system to be competitive and transparent, offering traders a clear understanding of the costs associated with their trading activities. The platform primarily charges a flat rate on trades, avoiding the complexity of tiered fee structures seen in some other exchanges. This flat rate is relatively low compared to industry standards, making it an attractive option for both high-volume and casual traders. The trading fees on PrimeXBT vary slightly depending on the market and asset class but are generally around 0.05% per trade for most cryptocurrencies. This is significantly lower than the average fees on other major platforms, which can range up to 0.25%. Additionally, PrimeXBT offers further discounts on trading fees for holders of its native token, reducing costs even more for frequent traders. This straightforward and low-cost fee structure is especially beneficial in a market where margins can be tight and efficiency is key. PrimeXBT’s emphasis on low fees helps maximize traders’ potential profits by minimizing the overhead on each transaction.

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

Primexbt

High Security Standards: PrimeXBT employs an array of security measures, including cold storage of assets, SSL encryption, and two-factor authentication to ensure the safety and security of its users' funds and data.
Advanced Trading Tools: The platform offers advanced trading tools and features, such as customizable charting tools, leverage options, and order types, which are essential for both novice and experienced traders aiming to execute complex trading strategies effectively.
Robust Trading Infrastructure: PrimeXBT boasts a robust trading infrastructure capable of handling significant trading volumes and market volatility, which ensures reliability and speed for its users' trading activities.
Transparent and Competitive Fees: The platform maintains transparency in its fee structure, offering competitive trading and withdrawal fees, which are clearly outlined on their website. This transparency helps build trust among users by ensuring there are no hidden charges.
Reputation and User Reviews: Over the years, PrimeXBT has built a strong reputation within the trading community. Positive reviews and testimonials from users across various forums and review sites highlight the platform's reliability and user-friendly interface.

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Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Full name

Phemex Financial Pte. Ltd.

PrimeXBT Trading Services

Regulation

Not regulated

Year founded

2019

2018

Founder

Jack Tao

Unknown

Payment methods

Transfers

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Phemex	FEATURES	Primexbt
Phemex allows trading with relatively low minimums, making it accessible for beginners who wish to start small.	Minimum Trade	PrimeXBT allows users to engage in trades with relatively low minimum thresholds, making it accessible for traders with smaller budgets.
Offers competitive fees with several fee-free options for premium members, though slightly higher for regular users.	Trading and Transaction Fees	Fees are competitive and transparent, which is favorable for maintaining profitability in frequent trading activities.
Supports a wide range of cryptocurrencies, providing ample trading opportunities for users.	Number of Cryptocurrencies	Offers a broad range of cryptocurrencies, though not as extensive as the largest exchanges, it covers all major and several minor tokens.
Extensive selection of trading pairs, allowing users to diversify their trading strategies.	Crypto-to-Crypto Trading Pairs	Provides a diverse array of trading pairs, allowing users to directly trade one cryptocurrency for another without converting to fiat.
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, services, and trading options, contributing to high transparency.
Phemex does not provide an exchange card for in-store purchases. It focuses on trading features and derivatives.	Credit/Debit Card	PrimeXBT lacks an exchange card, which limits the flexibility for users to directly access their trading profits for everyday expenditures or to enjoy cardholder benefits.
Offers secure cold storage options, enhancing safety for user funds against potential cyber threats.	Storage Offering	Excellent security measures for storage, including cold storage options for digital assets.
Provides staking options with competitive rewards, though options are more limited compared to specialized staking platforms.	Staking and Rewards	Offers some staking options, but the rewards and variety are less competitive compared to specialized staking 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 user-friendly and offer full trading functionalities.
Generally responsive customer service with multiple channels available, but some reports of delayed responses during peak times.	Customer Service	Provides robust customer support with multiple channels and quick response times, though it can be improved with more direct phone support.
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 streamlined and efficient, though primarily limited to cryptocurrencies which might be a limitation for some users.

Key features

Analysis tools

Advanced charting tools, technical analysis

Mobile APP

Security

High 4,9/5

Additional features

Margin trading, futures trading, staking, Phemex Earn

Margin trading, futures trading, staking, PrimeXBT Covesting

Anonymity

Yes

Key points

Available cryptocurrencies

Primarily derivatives, few direct cryptocurrencies

Primarily derivatives

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.

PrimeXBT offers 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.

Value for money

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

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

Countries of operation

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

Best for

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

Ideal for experienced traders interested in advanced trading features and competitive fees.

Base currencies available

USD, BTC, USDT

USD, BTC (for derivative trading)

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.

PrimeXBT focuses on leveraged trading, offering a unique feature for experienced traders. It has a good range of cryptocurrencies and competitive fees but can be risky and complex for beginners.

Deposit and withdrawal

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

PrimeXBT supports cryptocurrency deposits and withdrawals, with no support for fiat currencies. Withdrawals are processed efficiently, 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.

PrimeXBT offers a straightforward and user-friendly account registration process. Users need to submit personal information and verify their identity. The process is efficient and typically 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.

PrimeXBT 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.

PrimeXBT employs strong security features like 2FA and encryption. Despite its robust security measures, the platform is not regulated by top-tier financial authorities, which could 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 a seasoned analyst at our platform, I’ve closely examined PrimeXBT and here’s my personal take: PrimeXBT stands out primarily for its user-friendly interface and the extensive range of trading tools it offers, making it ideal for traders looking for robust leverage options and a diverse asset portfolio. The platform’s commitment to security is commendable, with comprehensive measures in place to protect user assets and data. Whether you’re just starting out or you’re an experienced trader, PrimeXBT provides a solid foundation for your trading activities with competitive fees and a strong infrastructure. If you’re considering a reliable and versatile trading platform, PrimeXBT is definitely worth your consideration.

View all comparisons against Phemex

View all comparisons against Primexbt

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.