Home > 11 Best Crypto Futures Trading Platforms of 2025 > 11 Best Crypto Futures Trading Platforms of 2025
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Written by Charles
Hi, I'm Charles Johns, a Finance graduate with a specialization in Financial Management from the University of Chicago. My journey through financial markets has fueled a passion for both traditional and digital assets, where I continuously explore evolving investment opportunities. As an active trader and cryptocurrency enthusiast, I strive to bridge the gap between complex financial concepts and practical, real-world applications. My goal is to empower everyone, whether seasoned investors or newcomers, with valuable insights and knowledge to confidently navigate the world of finance and crypto investing.
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Last Updated on January 25, 2025
Phemex is newer and specializes in derivatives trading, featuring over 40 cryptocurrencies and offering an intuitive mobile app.
BitMEX, established in 2014, is renowned for its high leverage and intense focus on Bitcoin trading, catering to a more experienced user base.
Both platforms provide 24/7 customer support and charge standard network fees for withdrawals.
Our 2025's Recommendation 5/5 |
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Feature | Phemex | BitMEX |
---|---|---|
Founded | 2019 by ex-Morgan Stanley executives | 2014 by HDR Global Trading Limited |
Supported Coins | 40+ cryptocurrencies | Primarily Bitcoin, several altcoins |
Leverage | Up to 100x | Up to 100x |
Trading Fees | Market Maker: -0.025%, Taker: 0.075% | Market Maker: -0.025%, Taker: 0.075% |
Withdrawal Fees | Standard network fees | Standard network fees |
Deposit Methods | Crypto deposits, fiat via credit card approx. | Crypto deposits only |
Mobile App | Yes, user-friendly | Yes, functional |
Trading Volume | High | Very high |
Trading Products | Spot trading, derivatives | Derivatives, perpetual contracts |
User Interface | Easy to navigate | Professional might seem complex |
Customer Support | 24/7 support available | 24/7 support available |
Sign-up Bonus | Claim Your $8800 Deposit Bonus | – |
When examining Phemex and BitMEX, you’ll find that both platforms offer a range of trading products tailored to different traders.
Futures Trading: Phemex and BitMEX provide robust futures trading options, allowing you to trade with leverage. BitMEX is notably known for its perpetual contracts, offering continuous trading without expiration. Phemex, on the other hand, includes futures and perpetual contracts, providing flexibility for various trading strategies.
Spot Trading: Phemex stands out with its spot trading feature, allowing you to buy and sell cryptocurrencies directly. Moreover, Phemex offers zero-fee spot trading to its premium members, a unique advantage that could benefit frequent traders. BitMEX, however, does not support spot trading, making Phemex more advantageous if you prefer direct cryptocurrency transactions.
Options Trading: BitMEX provides options trading, which is beneficial for those looking to hedge or speculate on future price movements of cryptocurrencies. Phemex does not offer options trading, positioning BitMEX as the better choice for this service.
Leveraged Tokens: Phemex offers leveraged tokens, enabling you to take on leveraged positions without the complexities of managing margin or liquidation levels. BitMEX does not provide leveraged tokens, so if you’re looking for more straightforward leveraged trading options, Phemex may be preferable.
User Experience: Phemex has a modern, intuitive, and user-friendly platform. BitMEX, despite being a pioneer in the field, has an outdated interface and reported performance issues. Phemex also offers live chat support, adding a layer of convenience for real-time assistance.
Feature | Phemex | BitMEX |
---|---|---|
Futures Trading | Yes | Yes |
Spot Trading | Yes (with zero fee for premium) | No |
Options Trading | No | Yes |
Leveraged Tokens | Yes | No |
User Experience | Modern, User-friendly | Outdated Performance issues |
By comparing these products and services, you can choose the platform that best suits your trading needs: futures trading, spot trading, or a better user experience.
Phemex and BitMEX offer various types of contracts for cryptocurrency trading, catering to different trading preferences and strategies.
Inverse Perpetual Contracts:
Linear Perpetual Contracts:
Inverse Futures Contracts:
COIN-M Futures:
USD-M Futures:
Options:
Both platforms provide robust options tailored to different trading needs.
When comparing Phemex and BitMEX, understanding the range of supported cryptocurrencies is essential for making an informed choice.
Phemex offers a broad selection of cryptocurrencies, making it suitable if you value variety in your trading options.
Some popular pairs include BTC/USDT, ETH/USDT, and XRP/USDT. It’s favored for its user-friendly deposit options and an intuitive platform that supports a wide range of digital assets.
In contrast, BitMEX focuses primarily on Bitcoin and supports fewer cryptocurrencies.
Despite the limited variety, it specializes in high-leverage trading, particularly for BTC/USD contracts.
BitMEX is reputable for its robustness and liquidity, and it is beautiful if you concentrate on Bitcoin trading with significant leverage.
Platform | Cryptocurrency Example | Focus | Popular Trading Pairs |
---|---|---|---|
Phemex | BTC, ETH, XRP | Variety | BTC/USDT, ETH/USDT, XRP/USDT |
BitMEX | BTC | Bitcoin | BTC/USD |
Phemex and BitMEX offer robust leverage and margin trading options, enabling you to amplify your trading positions and potential returns.
Maximum Leverage:
Margin Requirements:
Liquidation Risks:
Using high leverage can increase the risk of liquidation. Your position will be liquidated on Phemex and BitMEX if it falls below the maintenance margin level.
Funding Rates:
Both Phemex and BitMEX provide powerful tools for experienced traders, but it’s crucial to understand the risks associated with high leverage and margin trading.
Monitor your positions closely to avoid unexpected liquidations due to market volatility.
When evaluating trading platforms, trading volume is a crucial metric. It reflects liquidity, trading efficiency, and the potential for slippage.
BitMEX has a notable position in the market, with a 24-hour derivatives trading volume reaching USD 981 million.
This places BitMEX as the 12th highest in the world for derivatives trading volume, indicating a highly liquid environment suitable for executing large trades with minimal slippage.
On the other hand, Phemex also demonstrates a substantial trading volume. In the same 24-hour period, Phemex achieved a trading volume of USD 912 million.
While slightly lower than BitMEX, Phemex offers a robust trading environment supporting efficient trade executions.
Both platforms’ high trading volumes suggest that you can expect efficient order executions on either.
However, BitMEX’s higher volume might offer a slight edge in liquidity, benefiting those who trade more prominent positions or require rapid execution.
Exchange | 24-Hour Trading Volume (USD) | Liquidity Ranking |
---|---|---|
BitMEX | 981 million | 12th |
Phemex | 912 million | Not specified |
Given these volumes, BitMEX and Phemex provide environments catering to efficient and effective trading. The lower risk of slippage on these platforms ensures that your trades are more likely to be executed at your desired prices.
Thus, whether you choose Phemex or BitMEX, the substantial trading volumes support a streamlined trading experience.
Phemex and BitMEX both follow a market maker-taker fee model for futures trading, making it essential to understand their fee structures to maximize profitability.
Exchange | Maker Fee | Taker Fee | Withdrawal Fee | Deposit Fee |
---|---|---|---|---|
Phemex | -0.025% | 0.075% | Variable, depending on the network | Free |
BitMEX | -0.025% | 0.075% | 0.0004 BTC per withdrawal | Free |
Example Calculation: If you trade $10,000 worth of futures contracts on Phemex, you will pay $7.50 in fees. as a market taker. Conversely, as a market maker, you would earn a rebate of $2.50. The calculation is as follows:
Similarly, BitMEX’s fees and rebates are identical for the same transaction values, ensuring consistent structures across both platforms.
Phemex offers zero-fee spot trading for premium members, adding a unique user incentive. Additionally, traders can enjoy other benefits, such as bonuses and promotions that help reduce trading costs.
BitMEX focuses on providing high liquidity and leverage, especially appealing to professional traders. Users can also benefit from occasional trading competitions and bonus events.
BitMEX typically charges a flat fee of 0.0004 BTC per transaction for withdrawals.
On the other hand, Phemex’s withdrawal fees vary based on network conditions, which can result in lower or higher charges. Both exchanges do not charge any deposit fees, making it straightforward to fund your accounts.
Read More: What Is Crypto OTC Trading?
When comparing Phemex and BitMEX, consider these fees and rewards to optimize your trading strategies and maximize potential profits.
When evaluating Phemex and BitMEX, deposit and withdrawal options are crucial in determining the overall user experience. Both platforms offer distinct features to cater to different user needs.
Overall, Phemex provides a quicker and more versatile deposit and withdrawal process, while BitMEX’s singular focus on Bitcoin caters to users primarily dealing with this cryptocurrency.
Phemex and BitMEX have native tokens designed to enhance the user experience within their ecosystems.
Phemex Token (PT) allows you to participate in the Phemex DAO, enabling decentralized decision-making. This token can reduce your trading fees and offer other exclusive benefits.
BitMEX Token (BMEX) is designed to offer various advantages to its users. Holding BMEX can reduce fees, provide access to enhanced features, and offer potential bonuses.
User Benefits:
Feature | Phemex (PT) | BitMEX (BMEX) |
---|---|---|
Fee Reductions | Yes | Yes |
Governance | Yes (Phemex DAO) | No |
Exclusive Features | Yes | Yes |
Long-Term Mechanism | Token burns for long-term value | No explicit long-term mechanism |
Bhemex and BitMEX provide unique advantages through their native tokens, adding significant value to their ecosystems. By leveraging these tokens, you can optimize your trading experience and tap into exclusive benefits each platform offers.
Several vital differences emerge when comparing Phemex and BitMEX regarding Know Your Customer (KYC) requirements and limits.
These differences can significantly impact your trading experience, from privacy and security to accessibility.
Phemex mandates KYC verification for all users. You must complete this process through Onfido to start trading.
The procedure involves submitting identification documents like a passport or driver’s license and a selfie for identity verification. Once verified, you gain access to higher deposit and withdrawal limits.
BitMEX does not impose mandatory KYC for primary account usage. You can start trading without submitting personal documents.
However, certain features and higher withdrawal limits are available only after completing the KYC process. This process requires documents similar to nPhemex’s needs, such as government-issued IDs and selfies.
Aspect | Phemex | BitMEX |
---|---|---|
KYC Requirement | Mandatory for all users | Optional for primary use, mandatory for higher limits |
Verification Method | Onfido | BitMEX’s internal system |
Documents Needed | Passport, Driver’s License, Selfie | Government ID, Selfie |
Deposit Limits | Higher limits post-verification | Fundamental limits without KYC, higher with KYC |
Withdrawal Limits | Higher limits post-verification | Higher limits post-verification |
Security | Enhanced with mandatory KYC | Flexible depending on KYC status |
Accessibility | Limited until KYC is completed | More accessible without initial KYC |
Privacy on BitMEX can be higher since you can trade without initially divulging personal information. However, opting for KYC is essential for enhanced security and higher limits.
On Phemex, the mandatory KYC enhances security but may limit initial accessibility for users hesitant to share personal information.
Your choice between Phemex and BitMEX regarding KYC requirements will depend on your priorities regarding privacy, security, and accessibility.
Adjust your strategy accordingly based on the specific needs of your trading activities.
Phemex offers an intuitive and modern user interface. The platform is designed with ease of use in mind, making it accessible even for beginners.
You’ll find the navigation straightforward, and the trading tools are well-organized. The web interface is clean and responsive, ensuring swift performance.
BitMEX, established in 2014, provides a robust trading platform, but the interface can seem outdated. You may encounter some performance issues.
Despite this, BitMEX is known for its reliability in handling high trading volumes. The design is more suited for experienced traders familiar with advanced trading tools.
For mobile users, Phemex shines with a well-received app that is user-friendly. The mobile application maintains the same level of functionality as the web version, allowing you to trade on the go easily. You’ll appreciate the seamless transition between devices.
BitMEX’s mobile app is functional but may not offer the same level of polish as Phemex’s. The app can handle the essential trading functions, but the user experience might not be as smooth or intuitive. If you’re a mobile-first trader, Phemex could be more appealing.
Both platforms support a range of cryptocurrencies, but Phemex provides a broader selection, which might enhance your trading experience if variety is important to you.
On the other hand, BitMEX specializes in derivatives and high-leverage trading, which is beneficial if these features are your priority.
Feature | Phemex | BitMEX |
---|---|---|
Ease of Use | User-friendly | Complex |
Mobile App | Intuitive and well-received | Functional but basic |
Web Interface | Modern and fast | Reliable but dated |
Cryptocurrency Selection | Broad | Focused on derivatives |
Phemex includes live chat support, a significant advantage if you value immediate assistance. This feature is absent in BitMEX, making the support experience different.
Your choice between Phemex and BitMEX should depend on your priorities: modern design and ease of use, specialized trading tools, and high-volume reliability.
Phemex and BitMEX offer a range of order types to help you execute trading strategies and manage risks effectively. These orders are essential tools for traders looking to maximize efficiency and precision.
Market Orders: Phemex and BitMEX support market orders, allowing you to buy or sell an asset instantly at the current market price. This type helps you quickly enter or exit a position.
Limit Orders: Phemex and BitMEX enable you to set limit orders by defining the price you wish to buy or sell. This ensures you achieve a precise entry or exit point, potentially avoiding unfavorable market conditions.
Stop Orders: Stop orders on both platforms help you minimize losses or protect profits by triggering a market order when the asset price reaches a specified threshold.
Conditional Orders: Phemex offers conditional orders, similar to stop orders but more flexible. These can be configured to execute based on various conditions being met, tailored to complex trading strategies.
Post-Only Orders: Post-only orders on both Phemex and BitMEX ensure that your order adds liquidity to the order book rather than taking liquidity. If it matches an existing order, it gets canceled.
Reduce-Only Orders: Phemex and BitMEX also support reduce-only orders, which ensure that your position size will only be reduced and never increased, effectively managing risk and locking in profits.
Order Type | Phemex | BitMEX |
---|---|---|
Market | Yes | Yes |
Limit | Yes | Yes |
Stop | Yes | Yes |
Conditional | Yes | No |
Post-Only | Yes | Yes |
Reduce-Only | Yes | Yes |
These order types allow you to implement diverse trading strategies and effectively manage positions, giving you the tools to navigate the volatile crypto market.
Regarding security, both Phemex and BitMEX take extensive measures to protect your funds and personal information.
Phemex uses a proprietary Hierarchical Deterministic Cold Wallet System. Each user gets a unique deposit address, which feeds into a multi-signature cold wallet, operating with offline signatures for extra security.
BitMEX, known for its long-standing reputation since 2014, employs multi-signature wallets to store user funds. Only BitMEX partners can initiate withdrawals, adding another layer of protection.
Both platforms mandate using two-factor authentication (2FA) for user accounts. This additional authentication step reduces the risk of unauthorized access.
Security Incidents:
Reliability:
Phemex operates with a focus on maintaining high uptime and low-latency order execution. Its robust architecture ensures operational stability.
BitMEX boasts a solid track record for reliability, attributed to its time-tested infrastructure. Despite occasional server overloads during peak trading periods, the platform has consistently delivered on its promised services.
Ultimately, both Phemex and BitMEX prioritize the security and reliability of their platforms, ensuring that your trading experience remains safe and efficient.
Phemex and BitMEX employ insurance funds to protect traders from potential losses due to adverse market conditions.
BitMEX’s insurance fund is a well-established mechanism within the platform. The fund accrues through a portion of liquidation profits, ensuring that traders are protected against unexpected market fluctuations. This fund provides a safety net, particularly in high-leverage scenarios.
Phemex also maintains an insurance fund to safeguard its users. Like BitMEX, Phemex accumulates its funds from liquidation processes. This system is designed to prevent trader losses from exceeding their account balance, offering an added security layer.
Feature | BitMEX Insurance Fund | Phemex Insurance Fund |
---|---|---|
Established | Comprehensive and well-known | Practical and tailored for the platform |
Accumulation | Profits from liquidations | Profits from liquidations |
Usage | High-leverage protection | Prevents losses exceeding account balance |
Platform Specific | Tailored for advanced traders | Designed for both novice and experienced traders |
The insurance funds on both platforms are critical to ensuring users a secure and stable trading environment. Understanding these insurance mechanisms is vital for making informed decisions in high-risk trading scenarios.
Customer support plays a crucial role when choosing between Phemex and BitMEX. Both platforms offer support to users, but there are notable differences.
Phemex provides 24/7 multilingual customer support through live chat, which is accessible on their website.
This immediate access can help resolve urgent issues. Additionally, users have reported that Phemex’s customer service is prompt and helpful.
BitMEX, on the other hand, also offers customer support but has received feedback about occasional delays in response time. Despite these delays, the support is generally considered adequate.
Here’s a quick comparison of customer support features:
Feature | Phemex | BitMEX |
---|---|---|
Availability | 24/7 | 24/7 |
Support Channels | Live Chat, Multilingual | Support Ticket System, Email |
Response Speed | Prompt and helpful | Adequate, but sometimes delayed |
Multilingual Support | Yes | Limited |
It’s also important to consider the support channels.
Phemex’s live chat is often praised for its accessibility, while BitMEX relies on a support ticket system and email communication, which may contribute to the response delays.
Ultimately, your choice might depend on how much you value immediate, real-time support versus other factors such as platform features and fees.
Evaluate both options carefully based on your specific needs and preferences.
When comparing Phemex and BitMEX regarding regulatory compliance, you will notice that both exchanges have different approaches and levels of adherence.
Phemex places a significant emphasis on regulatory adherence. The platform follows stringent AML (Anti-Money Laundering) protocols and has a clear compliance framework.
Phemex adheres to all relevant financial regulations, making it a trustworthy option for traders seeking transparency.
BitMEX, on the other hand, has faced challenges in regulatory compliance.
The U.S. Commodity Futures Trading Commission (CFTC) charged the platform’s founders for operating an unregistered trading platform and violating AML regulations.
As a result, BitMEX has endeavored to comply with regulatory standards, implementing enhanced KYC (Know Your Customer) procedures.
Feature | Phemex | BitMEX |
---|---|---|
AML Compliance | Yes | Yes |
KYC Procedures | Less stringent | Enhanced |
Regulatory Challenges | None reported | Legal issues with the CFTC |
Platform Transparency | High | Improved post-legal actions |
Phemex operates with legal and ethical standards in mind, reflecting its commitment to regulatory requirements. The absence of significant controversies further enhances its reputation.
BitMEX, though initially facing significant legal challenges, has adapted by improving its compliance measures. They have worked towards greater transparency and adherence to legal standards.
The regulatory compliance at Phemex and BitMEX influences their trustworthiness among users.
Phemex’s strong emphasis on compliance and seamless user experience sets a high benchmark, whereas BitMEX’s evolution in compliance reflects its adaptability and commitment to lawful operations.
Phemex and BitMEX are robust platforms for cryptocurrency trading, each with its strengths.
For traders seeking a user-friendly interface and a broader selection of cryptocurrencies, Phemex stands out. The platform also offers low fees and a well-received mobile application for trading.
BitMEX, on the other hand, has established itself as a pioneer in the derivatives trading space since its inception in 2014.
It is particularly notable for its strong focus on Bitcoin and high-leverage options, which attract seasoned traders interested in substantial market movements.
Feature | Phemex | BitMEX |
---|---|---|
Founded | 2019 | 2014 |
Specialization | Derivatives, Perpetual Contracts | Bitcoin, High Leverage Trading |
Trading Products | Broad Range of Cryptocurrencies | Primarily Bitcoin |
User Interface | User-friendly | Robust, Industry-Standard |
Mobile App | Highly Rated | Available |
Customer support and transaction processing on Phemex could see improvements to match its aspirations of merging the best aspects of CeFi and DeFi.
For best results, align your trading needs and priorities with each platform’s features and strengths.
Our 2025's Recommendation 5/5 |
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Compare Phemex and BitMEX with other significant exchanges
Hi, I'm Charles Johns, a Finance graduate with a specialization in Financial Management from the University of Chicago. My journey through financial markets has fueled a passion for both traditional and digital assets, where I continuously explore evolving investment opportunities. As an active trader and cryptocurrency enthusiast, I strive to bridge the gap between complex financial concepts and practical, real-world applications. My goal is to empower everyone, whether seasoned investors or newcomers, with valuable insights and knowledge to confidently navigate the world of finance and crypto investing.
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