Phemex, one of the fastest growing derivatives exchanges on the cryptocurrency market, just listed 7 new perpetual contracts on its platform.
Released in November 2019, Phemex already reached an average trading volume per day of $574,000,000 and is one of the top 10 Derivatives Exchanges listed on CoinMarketCap.
Phemex aims to promote trustworthiness and simple trading in the world of cryptocurrency. The platform offers both spot and contract trading services and is one of the first in the industry to work on a membership model.
Zero Trading Fees and Up To 100x Leverage
Through the low-cost membership model of Phemex, premium users can enjoy zero fees on spot trading with more than 10 cryptocurrencies, all traded against USDT.
When it comes to contract trading, Phemex users can trade with up to 100x leverage.
Their advanced functionalities, such as FIX API and Sub-Accounts, were designed to help both institutional traders and quantitative traders make simpler and safer transactions.
Zero Risk Trading Simulator
For those who are new in the world of cryptocurrency trading, Phemex created a platform that helps its users learn how to trade with no risk involved.
Users can choose from all the listed cryptocurrencies and trade them at live prices, having access to both historical and real-time market data. To access the trading simulator, all that is needed is a Phemex account.
7 New Perpetual Contracts with 20x Leverage
In addition to the 12 spot trading pairs and 7 contract trading pairs, Phemex is now adding 7 more perpetual contracts, which are:
6 of the 7 new contracts are exciting DeFi coins, with all of them being linear contracts, quoted and settled in USD.
These new contracts can be traded with an up to 20x leverage, allowing users to deposit smaller amounts and trade them at higher values.
Promoting Safety and Security
Phemex uses cold wallet storage, with their transfers requiring 2-level human verification and offline signatures. Their Hierarchical Deterministic Cold Wallet System assigns a separate cold wallet to each Phemex user, with the deposits being regularly backed in the company’s multisignature cold wallet.
Every transaction is regularly checked by both operators and founders based on Wall Street risk control methods, enabling them to detect and swiftly act against malicious actions.
In addition to the high level of security, Phemex has a 24/7 multilingual support team that can be contacted live through their platform. Their customer experience specialists are ready to help users with technical and trading-related questions and issues, and their CEO is also available on Telegram and Twitter.