Phemex is a SCAM. Real reviews. Examination

Phemex is a new cryptocurrency exchange gaining wide popularity. Participation in the project should allow you to become a successful trader and forget about money problems. The company offers many bonuses and attractive conditions. But what in reality is hidden behind the screen of a reliable and honest intermediary - we find out in our review.

Phemex. General information

Broker's main website:

https://phemex.com

Whois score:

Domain Age

Site analysis

At first glance, it might seem that a site like Phemex is unlikely to be owned by scammers. A huge number of pages, modern design, colorful animations, interesting interface - usually crooks do not bother like that. However, the owners of this organization are counting on this. All this tinsel is aimed only at blurring the eyes of users and convincing them of the non-existent merits of the company.

If you take a more sober look at the presented web resource, you may find that some pages are taken outside the site to some obscure sources, which is not acceptable for serious financial institutions, some sections do not work at all, and translation suffers in some places. In general, there are more than enough shortcomings to doubt the high quality of service.

As for useful information, there is very little of it on the site. Behind the flashy slogans and the mass of inappropriate pictures, there is an almost complete lack of specific information about the history of the company, its owners, trading conditions, and legal data. They are trying to put rose-colored glasses on us and quickly lure out our money.

Expertise of legal information, Phemex licenses

First of all, let's find out the real age of this office. According to a beautiful legend, a certain Jack Tao (except for the name and a few photos of other data about the mysterious CEO and the rest of the management staff is not provided) back in 2016 had the idea to create his own cryptocurrency exchange with simple working conditions. However, the company itself was created only in 2019, at least according to numerous external sources. What will the Whois service tell us about this (screenshot at the beginning of the review). Indeed, the domain name on which the organization’s website “hangs” was registered in 2016, but it was simply empty for a long time, and on February 23, 2022, our friends settled on it. Consequently, stories about many years of experience, millions of registered users, billions in trading volumes are ordinary fairy tales, designed for naive "Pinocchio" and aimed at giving the site more significance and status.

The next item that we constantly pay attention to in all reviews on our binarybets.ru portal is contact information. The broker, like all similar sites, when describing its advantages, does not forget to mention round-the-clock and operational communication. In reality, only a few email addresses are provided to customers. It is very modern, and most importantly, help with solving problems will be simply “instant”. It would seem a trifle, but it is precisely such moments that give out low-quality intermediaries and scammers.

Phemex does not provide any specific documentation indicating the legality of the organization's work. Not a single scanned copy of the license or even registration numbers was found on the site. Even instead of API documentation, clients are given a link to some kind of download service with several obscure files. The only thing we managed to find out is that the company in question belongs to the legal entity Phemex LTD, which is registered in the British Virgin Islands. This jurisdiction is a well-known offshore zone that does not provide any information about its counterparties.

An attempt to find out at least some information about the hero of today's review in the registers of the Central Bank of the Russian Federation also ended in failure. These comrades did not acquire the permission of the main domestic regulator. So, although they provide their services in Russian, their activities in Russia are considered illegal.

Registers of the Central Bank of the Russian Federation

Also of particular interest to us is the user agreement of this office. If you carefully read it, it immediately becomes clear that we are dealing with a classic "scam project". Most of the points relating to the obligation of the organization and the client state in plain text that the owners of this sharash office do not bear any responsibility to users for any violations and can, at their discretion, block accounts and change the terms of cooperation.

Peculiarities of Phemex's work. Tools and conditions for traders

Among the key trading conditions offered by Phemex are:

• spot and contracts, many cryptocurrencies and tokens, US dollar;
• the ability to reduce spot trading commissions to 0%;
• x100 leverage available for contract trading;
• the minimum deposit is only 0.00000001 BTC (or equivalent);
• demo accounts, free premium mode test;
• an extensive knowledge base, educational guides with payments in crypto;
• referral program with discounts on commission fees;
• investment programs with flexible and fixed deposits;
• the Star Cast program gives users new opportunities;
• storage of funds by a cold method, a high level of data protection.

The project also has a referral program. For each invited, verified and started trading user, you can receive a cash bonus in the amount of 40$ to your account. For 20 referrals, the amount increases already to 1000$, for 50 - to 3000$.

Real Phemex Customer Testimonials

What can I say, our new acquaintances did a good job of creating the image of a successful and popular financial platform. You can find a lot of positive reviews and reviews on the net. True, they all have a painfully stereotyped and implausible appearance. Money for the reputation of Phemex is not spared. Well, it's right, because it's their bread.

No matter how hard you try, the truth will always come out. Negative reviews from those who nevertheless “fell for” the promises of these crooks are also actively circulating on the Internet. And now the clients of our “miracle broker” are no longer as rosy about their experience as paid copywriters.

Reviews

If you have become victims of Phemex scams, leave comments below this article. Perhaps it is your review that will save someone from losing money.

Phemex User Scam Scheme

In fact, there is nothing complicated in the scheme by which Phemex breeds its victims. First, scammers create a pseudo-financial project. Then they launch its active promotion on various information platforms, social networks and advertising integrations. In general, at the initial stage, the main task is to ensure a constant influx of customers.

A colorful site with loud promises quickly gains confidence among the naive public, and potential victims, without thinking twice, entrust their finances to a broker. It is no coincidence that all financial transactions take place using cryptocurrency wallets. Since this is a fairly new niche, it is difficult to track the movement of money, and it is also almost impossible to get the personal data of the charlatans themselves in order to hold them accountable.

The climax of the scheme's work is directly trading. The Phemex terminal has nothing to do with real markets and is a regular program that its owners control from and to. In this situation, it is not difficult for them to change quotes and rates in such a way that the client goes into the red. In any attempt to get to the bottom of the truth and call the crooks to account, they ignore or completely block the victim.

Results

Phemex is another "scam" that has nothing to do with real financial markets. Fraudsters use special software to drain money from other people's wallets. The absence of any legal documentation, combined with negative reviews, confirms the illegal activities of the organization represented. We categorically do not recommend cooperating with the monitored service and advise you to avoid any interaction with these charlatans.

If you are a victim of Phemex or other black brokers and want to get your investment back, leave your mail in the form at the beginning of the article. We will send you a step-by-step, illustrated plan of action to take.