Bitget vs Phemex | Learn Who Has Best Trading & Fees

While both exchanges are very competitive in the product category, let's see if anyone can find an advantage in terms of trading fees.

For spot trading, Bitget charges both makers and takers are a fee of 0.10%. This is a very competitive spot fees and inline with other exchange like Binance and Bybit.

Moving on to futures trading fees on Bitget, makers are charged a fee of 0.02% while takers face a slightly higher fee of 0.06%. These fees are quite reasonable, especially when compared to some other exchanges out there.

Bitget also offers it's users the opportunity to lower their trading fees based on their monthly trade volumes. If you exceed the minimum threshold, your fees can be reduced. So, the more you trade, the more you save!

Shifting our attention to Phemex, for spot trading, makers and takers are charged a competitive fee of 0.1% which is the same as Bitget.

And just like Bitget, Phemex also provides an opportunity to lower your trading fees based on your monthly trade volumes. So, if you're an avid trader who exceeds the minimum threshold, you can expect some sweet discounts on your fees.

For those that wish to trade futures on Phemex, they will be charged a maker fee of 0.01% and a taker fee of 0.06%. In other words, besides a slightly lower spot maker fee for Phemex, these two exchanges charge more or less the same trading fees!

Bitget supports a wide range of fiat currencies for buying crypto with a credit/debit card. They offer support for 40 different fiat currencies, which is quite extensive compared to other exchanges. However, Bitget does not support fiat deposits directly via bank transfer or other methods.

This means that users can only deposit cryptocurrencies or buy crypto using their fiat currencies through third-party providers like Banxa and MoonPay.

Unlike Bitget, Phemex does support fiat deposits for 6 fiat currencies including EUR, GBP, CHF, JPY, CAD and AUD.

The only deposit method available for all the supported fiat currencies is Wire Transfer which is free of charge. Deposit times vary between the fiat currencies with the fastest being GBP which can take between 10 minutes and one working day up to 2 working days for JPY.

Phemex users can also buy cryptocurrencies with their Visa or Mastercard credit or debit cards via third-party providers. Phemex collaborates with external parties such as Simplex, Coinify, Advcash, MoonPay, Mercuryo and Banxa.

Buy crypto with your credit and debit card via third-party providers is however more expensive than simply depositing fiat currencies free of charge.

When it comes to withdrawing funds, both Bitget and Phemex offer a range of options. Starting with Bitget, this exchange does not support fiat withdrawals.

Users can only withdraw cryptocurrencies. So if you're looking to cash out your funds, you'll have to convert them to a supported cryptocurrency before withdrawing.

In terms of withdrawal fees, Bitget charges 0.0005 BTC for Bitcoin withdrawals, 0.0006 ETH for Ethereum withdrawals, 0.0074 SOL for Solana withdrawals, and 3 USDT for ERC-20 Tether withdrawals. These fees are relatively moderate compared to many other exchanges.

Moving on to Phemex, fiat withdrawals are available for all the fiat currencies that they support including EUR, GBP, JPY, CAD, AUD and CHF.

Once more, the only fiat withdrawal method that is available on Phemex is with Wire Transfer which normally takes 1-2 working days before the funds arrive in your bank account.

Phemex also supports cryptocurrency withdrawals with varying fees. For Bitcoin withdrawals on Phemex, users can expect to pay a fee of 0.0004 BTC.

Ethereum withdrawals come with a fee of 0.001 ETH, while Solana withdrawals have a fee of 0.01 SOL. If you're looking to withdraw Tether USD (USDT) on Phemex, there is a fee of 4 USDT.

In conclusion, both Bitget and Phemex are two great exchanges that offer a solid range of trading services that cater to both beginners and professional traders.

Bitget has emerged as a fast-growing exchange with 8 million users across 100 countries and has been ranked in the top five for derivatives trading volume.

Bitget like Phemex offers a diverse range of trading services, including spot, derivatives, copy, and grid trading. Bitget supports over 450 cryptocurrencies and offers a user-friendly platform with a high level of liquidity.

Phemex like Bitget has also quickly grown to millions of users but is available in more countries than Bitget. Phemex offers over 140 contract trading pairs and more than 300 popular spot trading pairs. Phemex also offers a user-friendly platform, educational resources, and a learn and earn program.

When comparing trading fees, both Bitget and Phemex offer competitive rates and provide opportunities to lower fees based on monthly trade volumes. Both exchanges only charge 0.1% for spot trading and futures trading begins at 0.02% for Bitget and 0.01% for Phemex.

In terms of deposit methods, neither Bitget nor Phemex support fiat currencies and as such, users have to deposit cryptocurrencies or buy via third party exchanges.

This was a very competitive comparison and we ultimately could not decide on a winner, it was so close! We personally like and use both Bitget and Phemex and recommend both to our readers!