Margex vs Phemex: Fees

When you are deciding on a crypto trading platform, fees are always an important consideration. After all, every trade incurs a small fee and over time, these can add up to a large amount. For traders who frequently make large trades, even a small percentage difference in fees can have a significant impact on their bottom line. So, how do Margex and Phemex compare when it comes to fees? 

Neither Margex nor Phemex charge fiat deposit or withdrawal fees since they are not supported on these exchanges. However, if you wish to purchase crypto directly using fiat, you can do so using the third-party payment merchants. They will charge a fee based on which payment method you use, and this usually ranges from 3 to 5%.

Margex has low trading fees and a simple fee structure. All 39 assets are subject to a fixed trading fee, with makers paying 0.019% and takers paying 0.060%. This makes Margex one of the most affordable exchanges to trade on. Keep in mind that this fee is for margin trading, and there is no spot trading available on Margex.

Phemex has spot trading available, and the fee is 0.1% for makers and takers, which can be waived if you are a 'premium' user. If you want to contract trade on Phemex, the fees are only 0.075% for takers, and makers actually receive a rebate of 0.025%, meaning they are paid for their trade.

Margex vs Phemex Payment Methods

On Margex and Phemex, debit cards, credit cards, and cryptocurrency are available as payment methods. Phemex also accepts bank transfers as well.

Margex vs Phemex: Features

Let's have a look at what is offered at Margex and Phemex, and what makes them stand out.

Margex Features:

User-friendly platform

Margex is the perfect exchange for anyone looking to get started with crypto margin trading. This exchange is solely for margin trading, and Margex's interface makes it easy for anyone to learn. The site is straightforward, and you don't need to submit any KYC documents to get started. Just sign up with your email and password, and you're ready to go!

But don't let the simplicity fool you- Margex is also fast, efficient, and features an advanced trading interface for experienced traders. Their ultra-fast order execution means you'll never miss a beat in the market, and the live chat feature ensures you always have someone to answer your questions 24/7. 

Detailed trading guides

If you're new to margin trading, the Margex trading guide is the perfect place to start. This comprehensive guide covers everything you need to know about using the platform. The guide walks you through all the features of the platform and how to use them, and the video tutorials are an excellent resource for learning more about how to get the most out of Margex. You have everything you need to make the most of your trading experience. 

Margin trading

Margex only offers margin trading, there is no spot trading at this exchange. Trade with up to 100x leverage, which is a great tool for traders looking to make a larger profit. Keep in mind that the risk of losing your investment to market fluctuations is much higher than when spot trading. Margin traders are responsible for the full value of their positions, and if the market moves against them, they may be required to provide additional margin to maintain their positions. As such, margin trading is not suitable for everyone, but those who are willing to take on the risk can potentially reap substantial rewards.

Bonuses and promotions

Margex offers some of the most competitive bonuses and promotions in the industry. We have managed to secure a special offer for our readers, of $100 + 15% of your first deposit as a bonus. Click here to sign up, or read about how the bonus works here.

Phemex Features:

Spot and Contract Trading

As any trader knows, having access to a wide range of assets is essential for success. Phemex is unique in that it offers both spot and contract trading on the same platform.  

On the spot trading side, Phemex currently supports over 200 pairs. On the contract side, Phemex offers 39 pairs with up to 100x leverage.

This allows users to take advantage of price movements in both the spot and futures markets. In addition, Phemex's high leverage levels offer traders the opportunity to make significant gains on their investments. 

Staking feature

Phemex offers a convenient staking feature that allows users to stake various assets, including ADA, USDT, BTC, XRP, ETH and LINK. There are two options available – flexible and fixed.

With the flexible option, you can determine the duration of the staking period yourself. With the fixed option, Phemex will define the staking period for you. Either way, this feature is a great way to earn some extra income on your cryptocurrencies.

Beginner-friendly platform

Phemex features a trading testnet where you can practice your trading strategies without worrying about losing any money. The testnet is a perfect place to learn about cryptocurrency trading and to test out different strategies. And if you're looking for more advanced tools, Phemex also offers a variety of tutorials and courses that can help you become a better trader.

The Phemex Academy is a comprehensive trading guide that offers courses on everything from the basics of cryptocurrency trading to advanced strategies. The academy is designed for both experienced traders and those who are new to the market, and its comprehensive approach makes it an excellent resource for anyone looking to improve their trading skills. 

Generous promotions and bonuses

Phemex is currently offering some amazing promotional deals that are sure to interest anyone looking to get involved in cryptocurrency trading. With the Welcome Bonus, you can get up to $180 cash back to pay for trading fees. And if you refer your friends, you can win up to $500,000 worth of trading fees. Plus, there are even more promotions on the site that are worth checking out.

Advanced trading tools

When it comes to online trading, having access to powerful tools is essential for success. That's why Phemex is proud to offer its users advanced charting capabilities, powered by TradingView. With these charts, traders can get a clear and precise picture of the market, helping them to make informed decisions about their trades. Because the charts are fully customizable, traders can tailor them to their specific needs. 

Margex vs Phemex: Security

Cryptocurrency exchanges are constantly making headlines for being hacked, and millions of dollars worth of digital assets have been stolen as a result. Not only do crypto exchanges handle large sums of money, but they also hold sensitive user information. 

When choosing an exchange, it is important to consider the security measures that are in place to protect users' funds and data. Margex and Phemex both have robust security protocols, but there are some key differences between the two.

Margex understands that the safety of clients' assets and data is of the utmost importance. To that end, they've put in place a number of measures to ensure that their customers can trade with confidence. Their 2FA authentication system ensures that only authorized users can access client accounts, and their email confirmation system helps to prevent fraud by confirming withdrawal requests.

In addition, all of the client data is encrypted using SSL encryption, and all assets are stored in cold storage to prevent theft. To further protect clients' assets, they monitor them in real-time and have put in place a number of price manipulation and fraud prevention measures. 

The team at Phemex has a strong commitment to security, with multiple layers of protection, including two-factor authentication and cold storage for all user funds. Phemex takes it even further with multi-signature wallets. These require two or more people to sign off on a transaction, making it much harder for hackers to get access to funds.

Withdrawals are limited to three times per day to prevent large-scale extortion attempts, and their Wall Street risk control system detects malicious activity and flags it for investigation. In addition, they have a network firewall in place to protect our servers and systems, which are all based in the cloud. For ultimate peace of mind, the platform uses a bank-level double-entry bookkeeping system to keep track of all transactions and ensure accuracy. Overall, Phemex seems to be doing a good job when it comes to security.

Margex vs Phemex: Number of Cryptocurrencies

Margex and Phemex both offer a decent selection of coins, but Phemex definitely has the advantage in this area. With 230 different cryptocurrencies to choose from, Phemex gives investors a lot more options. Whether you're looking to trade bitcoin, ethereum, or Litecoin, or you're searching for more obscure altcoins, 

Margex vs Phemex: Summary

To sum it up, both Margex and Phemex are secure cryptocurrency exchanges, but the winner for us is Phemex, and here's why.

Phemex offers a wide range of features and benefits compared to Margex. One of the key advantages of Phemex is its advanced trading tools, which include charts and other analysis tools that can give users a better understanding of the market. In addition, Phemex offers more cryptocurrencies than Margex, which is important for investors who want a wider range of options.

Phemex has more markets, including spot trading, and a wider range of trading pairs and staking options. This allows users increased choice, and more ways to earn money. Phemex also offers a testnet where you can practice trading, and a comprehensive trading guide to help you get started. The guide covers everything from the basics of Bitcoin and blockchain to more advanced concepts like trading strategies. 

Still Researching?

If you want to read more about these two crypto exchanges, you can find our full reviews of Phemex (here) and Margex (here). You may also be interested in our article on the best cryptocurrency exchanges in the US. There is also a quick comparison table below that summarizes some key info.