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Get up to $8,800 Welcome Rewards with Phemex
Get up to $15,000 in welcome rewards with trial funds and vouchers
+Pros
- Very low contract fees (0.01% maker - best in class)
- Founded by ex-Morgan Stanley professionals
- Up to 100x leverage on perpetual futures
- Copy trading
- Premium member benefits
- Market maker rebate program (up to 0.005%)
- Fully covered customers after January 23, 2025 $73-85M hack
- Upgraded Rewards Hub (2026)
- Competitive spot fees (0.10%/0.10%)
- Up to $15,000 welcome bonus with premium codes
−Cons
- January 23, 2025 Lazarus Group hack ($73-85M losses via hot wallet access control vulnerabilities across 16 chains including Ethereum, Solana, XRP
- suspected North Korean group, now fully covered with all withdrawals restored by February 2025)
- Largely unregulated outside US/Lithuania
- UK FCA warning issued
- Limited regulatory compliance vs major exchanges
- Security incident raises access control concerns
- Rewards expire within 7 days if not claimed
Features
Fee Structure
Signup Bonus
Up to $15,000 USDT
premium codes); Official: up to $6,050 USDT Register, complete KYC, deposit, and complete trading tasks. Most tasks must be completed within 7 days of registration. Tiered rewards: up to 5,000 USDT for newcomer welcome gifts (KYC $10-1,200 voucher, first deposit $50+ for $5-1,500 voucher, first trade $100+ for $5-2,100 voucher), up to 10,000 USDT trading challenge (5,000 USDT Futures + 5,000 USDT Spot), and earn incentives (7% interest boost coupon). Vouchers valid for 14 days and provide cashback on trading fees. Must claim rewards within 7 days or they expire. Includes trial funds via Rewards Hub. 15% trading fee discount with referral codes. Premium codes offer up to $15,000; official program offers up to $6,050.
