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Crypto · head to head

FTX vs Phemex

FTX logo

FTX

Crypto

Cryptocurrency derivatives exchange

From
Free
Rated
-
Full reviewWebsite
Phemex logo

Phemex

Crypto

Break through with crypto

From
Free
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: FTX the exchange collapsed and FTX Trading Ltd filed for Chapter 11 bankruptcy protection on 11 November 2022; Phemex full KYC verification required for complete feature access and higher withdrawal limits
  • They diverge on capability: FTX covers Futures Trading, Phemex covers Contract Trading.
  • Prices and features above were last checked on 30 August 2026.

Where they differ

Only the attributes on which FTX and Phemex actually diverge.

Attributes where FTX and Phemex differ
AttributeFTXPhemex
Pricing modelfreemiumUnknown
PlatformsWeb, Ios, AndroidWeb, Mobile

Identical on both: starting price (Free), free tier (Yes), user rating (Not yet rated), category (Crypto), founded (2019).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in FTX

  • Futures Trading
  • Options
  • Leveraged Tokens
  • FTT Token
  • Serum DEX

Only in Phemex

  • Contract Trading
  • Copy Trading
  • Earn
  • Launchpad
  • PT Token

Both cover

  • Spot Trading
  • Web support
  • Ios support
  • Android support

What people use each for

The jobs each tool is most often brought in to do.

FTX

  • Exchangesnot Phemex
  • Derivativesnot Phemex
  • Tradingnot Phemex

Phemex

  • Spot trading across 600+ crypto assets with high-speed matchingnot FTX
  • Perpetual futures contracts with up to 100x leverage (USDT-M and Coin-M)not FTX
  • Automated trading with grid, Martingale, and signal trading botsnot FTX
  • Copy trading to mirror top traders' strategiesnot FTX
  • Staking and fixed/flexible savings for yield generationnot FTX

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

FTX

  • The exchange collapsed and FTX Trading Ltd filed for Chapter 11 bankruptcy protection on 11 November 2022
  • Around 130 affiliated companies including Alameda Research entered the same proceedings, with more than 100,000 creditors and assets and liabilities each between $10 billion and $50 billion
  • Founder Sam Bankman-Fried resigned as CEO on the filing and was replaced by John J. Ray III
  • It is not a service anyone can sign up for; the estate exists to repay creditors

Phemex

  • Full KYC verification required for complete feature access and higher withdrawal limits
  • Specific trading fees not disclosed on primary page; requires navigation to separate Fees page
  • Leverage trading up to 100x carries high risk; platform requires user understanding of derivatives
  • On-chain trading carries smart contract and liquidity risks

Pricing, plan by plan

FTX

Free
  • StandardFree
    • Spot trading
    • Futures
    • Options

Phemex

Free

No published plan breakdown. See the Phemex review.

Which should you pick?

Choose FTX if

  • You need futures trading.
  • You want to start without paying.
  • You work on Web, Ios, Android.
  • You also want options.
FTX review

Choose Phemex if

  • You need contract trading.
  • You want to start without paying.
  • You work on Web, Mobile.
  • You also want copy trading.
Phemex review

Questions people ask

Is FTX or Phemex better?
Neither clearly leads. FTX starts at Free and Phemex at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, FTX or Phemex?
FTX starts at Free and Phemex at Free.
Does FTX or Phemex run on more platforms?
FTX runs on Web, Ios, Android. Phemex runs on Web, Mobile.
Can I use FTX for free?
Both have a free tier, so you can try either at no cost before committing.
What is FTX best used for?
FTX is most often used for exchanges, derivatives, trading. Of those, exchanges and derivatives are not what Phemex is typically brought in for.
What can FTX do that Phemex cannot?
FTX covers Futures Trading, Options, Leveraged Tokens, FTT Token. Phemex covers Contract Trading, Copy Trading, Earn, Launchpad. Both handle Spot Trading, Web support, Ios support, Android support.

Answered from the vendors’ own pages

FTX: What happened to FTX?

FTX filed for bankruptcy on November 11, 2022, after revelations about Alameda Research's massive holdings of FTX's token (FTT) triggered a liquidity crisis. The platform collapsed within days as a competing rescue deal fell through.

Source
Phemex: Are there subscription fees to trade on Phemex?

Phemex operates on a transaction-based fee structure rather than monthly subscriptions. Specific trading fee percentages are not listed on the homepage but are available in the linked Fees and Conditions section.

Source
FTX: Can I recover funds from FTX bankruptcy?

FTX has been in Chapter 11 bankruptcy proceedings since November 11, 2022. Customer funds have been subject to claims through the bankruptcy process, with asset recovery efforts ongoing.

Source
Phemex: Can I practice trading without risking money?

Phemex offers simulated trading through their Testnet at testnet.phemex.com, described as learning to trade with zero risk. This allows users to practice strategies before trading with real funds.

Source
Phemex: Does Phemex offer rewards for new users?

New sign-ups receive a welcome bonus of 4,800 USDT worth of rewards. Phemex also offers a referral program providing 50 USDT for successful referrals with 10 USDT per referred friend.

Source
Phemex: What trading features does Phemex include without additional fees?

Core features including spot trading across 600+ crypto assets, futures trading with up to 100x leverage, automated trading bots, copy trading functionality, and Phemex Earn wealth management products are available to all users without indicated tier restrictions.

Source
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