Phemex is a platform for trading cryptocurrency derivatives and offers both a web and mobile app to access its features. Traders can place orders, close/tweak running trades, monitor their accounts, and more from the Phemex mobile app. The app is available on both iOS and Android devices and requires a Phemex account to use.
The platform is built on the TradingView tech and boasts a modular design that can be customized to fit traders’ needs. It also includes a number of standard trading tools that are not always available on competing platforms, such as an order book depth chart and the option to add your own custom indicators to the main screen. It also has a learning and academy section that makes it easy to get started on the platform even for newbies.
Besides offering a diverse range of crypto assets to trade, phemex also has an impressive selection of market data and charts. In addition to the standard charts, there are many technical and fundamental analysis tools that can help you spot opportunities to make profitable trades. This is a major plus for any serious trader who wants to succeed in the highly competitive crypto space.
For those looking to make money passively, phemex also offers a number of auto trading bots that can be used to automatically trade on the platform with your chosen pre-set strategies. This can be a huge time saver and will allow you to focus on other aspects of your life while still earning an extra income.
Another unique aspect of the phemex trading bot platform is its Launchpad feature that gives users the chance to invest in early-stage projects. While this is nothing new, it does give the average trader/investor the opportunity to get in on ground floor prices and potentially benefit from massive gains once these projects hit their stride. However, the number of projects promoted via this platform is somewhat low at the moment.
In terms of fees, phemex is very competitive with similar exchanges. It does not charge any deposit fees, making it a very cost-effective option for those wanting to move large amounts of funds in and out of the platform. However, it does charge a small 0.2% fee for makers and takers on its platform.
The platform also offers an HD Cold Wallet System that allows users to store their funds in a multi-signature wallet, further increasing security and safety. Moreover, it provides an auto-deleveraging feature that decreases a trader’s leverage when they lose money. This can further help reduce socialized losses and minimize the chances of margin calls. Lastly, the platform has a robust security protocol that includes SSL technology and PCI scanning.