Phemex vs Swyftx: Fees, Security, Features & Which to Choose (2025)

Trying to choose between Phemex and Swyftx This side-by-side comparison reveals total cost (fees + spreads), security & licenses, coins/derivatives, deposits/withdrawals, and app quality. In 2 minutes you’ll see who wins for beginners, active traders, and long-term holders. Clear pros/cons, a quick verdict, and safe links to get started.

Last updated on August 16, 2025

Phemex

Swyftx

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Available Countries

United States

Europe

Yes

Latin America

Yes

India

Yes

China

Canada

United Kingdom

United States

Europe

Latin America

India

China

Canada

United Kingdom

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Phemex is ideal if:

Fast-paced traders value it: With ultra-low latency and deep liquidity, Phemex's high-performance trading engine offers smooth execution and stability.
Tech-savvy users benefit: Advanced tools—like copy trading, bots, and DeFi-style earning products—empower both automation and strategy innovation.
Privacy-conscious users find appeal: Flexible KYC policies and a streamlined onboarding style suit those preferring minimal verification barriers.

Swyftx is ideal if:

Great for beginners and casual traders — Swyftx’s intuitive interface, demo mode, and educational incentives (like Learn & Earn) make it easy to get started with confidence.
Well-suited for Australian and New Zealand users — Built specifically for local fiat (AUD/NZD) usage and regulatory environments, offering seamless deposits and tax tools.
Less ideal for advanced traders — Lacks margin, futures, and derivatives options that experienced or professional traders often require.

Phemex isn’t ideal if:

Fiat-focused users may face limits: Fiat deposit and withdrawal services are unavailable or heavily restricted in numerous countries, reducing accessibility for those relying on bank transfers.
Newcomers could feel overwhelmed: The platform’s advanced features and high-leverage tools offer power—but may feel complex if you’re new to trading.
Risk-averse investors might be uneasy: Derivatives and high-leverage products carry greater risk, making Phemex less suited to those seeking lower-volatility exposure.

Swyftx isn’t ideal if:

You need advanced or professional trading tools — Swyftx lacks margin, futures, derivatives, copy-trading, and staking features.
You trade niche, low-liquidity assets — Some rare tokens may show limited functionality or suffer from low liquidity, leading to higher slippage.
You’re outside Australia/New Zealand — Availability is currently restricted to those regions, so international users won’t have access.

Fees & Total Costs

Spot Maker/Take

Spot trading fees start at 0.1% for both maker and taker on the base VIP tier and can decrease via VIP-level benefits tied to trading volume or asset holdings; using the Phemex Token (PT) grants additional discounts—around 20% off spot fees—and those can stack with VIP reductions.

Swyftx employs a unified spot fee structure—maker and taker are the same—and those rates decrease automatically with higher 30-day AUD trading volumes, starting from a standard tier and improving with volume tiers.

Futures/Derivatives

Futures (perpetual contracts) begin with a maker fee as low as 0.01% and a taker fee of 0.06%, with lower rates available through VIP status; funding rates vary according to market dynamics and are applied periodically, affecting long or short positions depending on current rates.

Futures, margin, and derivatives trading are not available on Swyftx, so there are no maker/taker or funding costs to consider.

Average Spreads on Liquid Pairs

Phemex delivers tight spreads on major spot pairs like BTC/USDT and ETH/USDT, thanks to deep order-book liquidity and efficient execution, although the exact average spread fluctuates with market conditions and isn’t publicly standardized.

While Swyftx doesn’t list exact spread figures in long-term terms, publicly reported estimates suggest moderately tight spreads for major pairs, suitable for straightforward spot trades without deep order-book advantages.

Fiat Deposits & Withdrawals

Fiat deposits are facilitated via third-party gateways such as MoonPay or Banxa, often with fees imposed by those services; withdrawal in fiat is limited or restricted depending on jurisdiction and may incur fixed charges or banking delays driven by external banking partners.

Users in Australia and New Zealand can deposit using bank transfer, PayID, card (via Stripe or Banxa), with zero platform fees for AUD transfers—though third-party or card premium spreads may apply—while NZD withdrawals incur a flat local fee; processing times are standard regionally.

On-chain Withdrawals

Crypto withdrawals carry network-dependent fees, which vary by chain and congestion

Crypto withdrawals incur only the blockchain’s network fee, which is dynamic and set by the network (not Swyftx), and varies per asset and congestion levels across BTC, ETH, TRX networks, etc.

Hidden Costs

Hidden costs may include markups from third-party fiat gateways, potential inactivity penalties (if any), and premium-tier services like expedited KYC—but generally, Phemex avoids additional charges beyond trading, withdrawal, and external service fees.

Swyftx does not charge inactivity fees; users may face third-party conversion or card provider spreads, and while there’s no express KYC charge, any expedited services would depend on external verification services.

Real-World Cost Example: “€500 BTC

Example

If you were to buy roughly the equivalent of €500 worth of BTC via AUD (via conversion), the total cost would comprise the spot trading fee (based on your tier), any AUD conversion or card spread, and then the network fee when withdrawing on-chain—all combined into a seamless composite cost, without separate hidden charges.

Crypto Offering & Trading Features

Number of Coins & Pairs

Phemex offers several hundred tradable assets across hundreds of spot and futures pairs; among the top by volume you’ll typically see major pairs like BTC/USDT, ETH/USDT, XRP/USDT, SOL/USDT, DOGE/USDT, ADA/USDT dominating the leaderboards.

Swyftx offers over 440 cryptocurrencies across a wide variety of trading pairs, including all major BTC, ETH, and AUD combinations—so top-20 volume pairs are fully covered while smaller altcoins also enjoy strong representation.

Product Range

Phemex delivers a wide product mix including spot and margin trading, perpetual futures, automated copy-trading, grid-trading bots (spot and futures), DCA and Martingale bots, essential lending/borrow via margin, plus crypto earn products and launchpad functionality.

The platform focuses exclusively on spot trading and provides features like crypto bundles and auto-invest (akin to DCA), but it does not support margin, futures, options, ETFs, staking/earn, loans, copy-trading, or grid bots.

Liquidity

Phemex sees substantial daily volume usually in the hundreds of millions USD, with order-book depth in BTC and ETH strong enough to support sizable trades without excessive slippage, reflecting healthy active liquidity.

Swyftx delivers solid liquidity on popular BTC and ETH pairs via a broker model; while exact 24-hour figures and depth aren’t disclosed, spreads are reported as tight and competitive for seamless basic spot execution.

Tools

The platform includes full order-type support such as limit, market, stop and OCO orders, real-time alerts, advanced interactive charts powered by TradingView, and robust API with WebSocket for seamless automation and live data.

Swyftx offers limit, stop, and recurring (trigger) orders, full TradingView charting, auto-invest capabilities, market alerts, and an API for automated access—yet no native trading bots or OCO functionalities are noted.

Geographic Restrictions by Product

Certain services—especially derivatives—are restricted in countries like the United States, United Kingdom, parts of Canada, China, and other regions, while spot and earn products may remain accessible depending on local laws.

As of now, Swyftx is available only in Australia and New Zealand, and it does not offer any advanced derivatives, lending, or leveraged products to users in any region.

Innovation

Phemex continually expands its ecosystem with launchpad or launchpool-style token sales, and layered earn programs offering both flexible (withdraw anytime) and locked (higher yield) options to fit different investor preferences.

The platform stands out with its auto-invest (simplified DCA), crypto bundles, self-managed super fund (SMSF) support, demo mode, and educational rewards—but it does not currently offer launchpads, flexible vs locked earn programs, or similar promotional yield features.

Security, Regulation & Custody

Operating Entity & Jurisdiction

Phemex began in 2019 and is operated under entities such as Phemex Technology Pte. Ltd. in Singapore and Phemex Limited in the British Virgin Islands, placing it under those legal jurisdictions.

Swyftx Pty Ltd, established mid-2010s, headquartered in Milton, Brisbane, Australia.

Licenses/Registration

While Phemex holds an MSB registration with FinCEN in the U.S., it currently lacks MiCA or equivalent EU licensing and is not authorized to operate in several regulated regions.

Fully registered with local AML/CTF authorities in Australia and New Zealand, subject to regular audit under respective national frameworks.

Custody

The exchange maintains full custody of user assets and provides a self-verifiable Merkle-tree proof-of-reserves (PoR) tool that shows assets are backed 1

Assets are split between hot and cold storage under Swyftx’s custodial control; they operate with a full 1

Insurance & Protection Funds

There is no publicly disclosed insurance or user protection fund; security relies on reserve mechanisms and risk controls but does not include third-party insurance coverage.

No publicly listed third-party insurance or protection fund is offered by Swyftx at this time.

Incident History

Phemex has not reported any major hacks, though it temporarily suspended a hot-wallet after an internal security review; it also faced regulatory scrutiny in Canada and the UK for compliance issues.

There are no reported hacks, major service suspensions, fund freezes, or regulatory fines recorded for the platform to date.

Risk Controls

Users benefit from standard safeguards including mandatory two-factor authentication, IP or address whitelists, anti-phishing protection, segregated sub-accounts, and granular API permission controls.

Robust safeguards include optional two-factor authentication, biometric login, breached-password detection, least-privilege internal architecture, anti-phishing guidance, and wallet whitelisting processes for withdrawals.

Transparency

Phemex offers monthly-updated PoR data, public disclosure of partial cold wallet addresses, and reserve ratios, demonstrating a commitment to transparency though without formal SLAs or comprehensive monthly financial reports.

Swyftx maintains ISO 27001 certification for information security management, employs ongoing third-party audits, and enforces a 1/1 asset model—but does not publish user-specific monthly reserve reports or transparent SLAs publicly.

Deposits, Withdrawals, KYC & Support

Fiat Deposit Methods

Phemex supports fiat deposits via bank transfers (SWIFT, SEPA, ACH, FPS) and third-party services like MoonPay or Banxa; minimums generally start around $50, maximums reach very high limits, and processing typically takes from instant (via e-wallet) to 1–3 business days for transfers.

Users in Australia can deposit via bank transfer (instant with Osko or 2–3 business days otherwise), PayID (usually instant), card through Stripe (instant) or Banxa (30–45 minutes). Bank transfers include no minimum, Stripe has a ~AUD 30 minimum, Banxa starts at ~AUD 91, and PayID has no set minimum; each channel’s limits vary, and timing and third-party provider fees apply.

Supported Fiat Currencies & Conversion

KYC (Verification Levels)

There are three user tiers

The platform uses a tiered verification system—Basic (Gold) for standard functionality and Diamond for higher limits—unlocking higher deposit and withdrawal caps when fully verified.

Withdrawals

limits, times, networks (TRC20/ERC20/BEP20, etc.)

Fiat withdrawals in AUD and NZD are via bank transfer, with minimums of AUD 4 or NZD 30, daily totals up to ~AUD/NZD 50,000 (increasable with advanced KYC), and processing times from minutes (Osko) up to 10 business days. Crypto withdrawals require network confirmation, have dynamic network fees, and Swyftx deducts only the blockchain fee—not extra platform charges.

Customer Support

chat 24/7, email, response times, knowledge base

Swyftx provides 24/7 support via live chat, email, and phone, with access to a well-developed knowledge base and chatbot. Response times are typically fast, often within minutes for live chat.

Languages & Localization

The platform’s interface and support are primarily in English, with fees typically shown in USD or equivalent fiat; some content and interfaces are localized for major regions, though comprehensive local regulation compliance varies by jurisdiction.

The platform is optimized for English-speaking users in Australia and New Zealand, showing balances and fees in AUD/NZD—with local regulatory alignment and no native display options for other fiat currencies.

App Quality & Stability

The Phemex mobile app is generally regarded as stable and regularly updated, offering seamless feature parity with desktop—though exact crash rates aren’t disclosed, user feedback reflects a smooth, reliable experience.

Swyftx’s app (iOS and Android) offers biometric security, TradingView charting, seamless trade functionality, and consistent updates; it holds high user ratings and is noted for a polished, stable experience.

Experience, Performance & Ecosystem

UX/UI

The platform offers a clean, intuitive interface with a low entry barrier for newcomers, while also featuring an advanced “Pro” layout tailored to seasoned users that surfaces more chart tools and analytics—all accessible without overwhelming either group.

Swyftx offers a highly intuitive interface with customizable dashboards on both app and web; though it doesn’t use explicit “Lite/Pro” modes, the layout adjusts seamlessly from beginner to more advanced users by adding/removing widgets and choosing preset layouts.

Performance

Known for its fast order execution and robust infrastructure, Phemex handles volatility with minimal downtime, though during peak surges KYC and account approval may experience slight delays—performance remains solid overall.

Order execution on Swyftx is fast and stable, even during busy periods—while explicit latency or downtime figures aren’t disclosed, user reviews frequently highlight swift reactions and minimal disruptions under volatile market conditions.

Education

Phemex Academy offers a rich library of beginner-to-advanced tutorials, while a fully functional Testnet simulator lets users practice trading risk-free; however, Spanish-language educational materials are limited or not as comprehensive.

Swyftx delivers a robust learning ecosystem with its “Swyftx Learn” portal featuring courses and quizzes, plus a fully functional demo mode with USD $10,000 in mock funds to practice trading—all tools aimed at reinforcing confidence before live trading.

Community

Users can join lively communities via Telegram or Discord, participate in referral programs offering significant bonus pools and commissions, and access forums where updates and peer tips circulate regularly.

The exchange supports a referral program where both parties receive rewards after sign-up and KYC completion, while maintaining active presence across forums, Discord, Telegram, and social platforms to cultivate its community and engagement.

Integrations

Phemex’s interface embeds native TradingView charts, supports integration with external bot frameworks, and appeals to algorithmic traders via API access, though dedicated tax or accounting tool integrations are limited.

Swyftx integrates TradingView for advanced charting, offers API access for automation, and includes tax-report tools; while it doesn’t directly support third-party bots, its ecosystem facilitates DCA setups and portfolio tracking.

Who Each One Is Best For

Phemex stands out for active, tech-savvy or algorithmic traders seeking powerful tools, automation access, and derivatives options; it’s less ideal for ultra-beginners or those requiring local-language education or deep tax integrations.

Swyftx works best for beginner to intermediate traders in Australia and New Zealand who value simplicity, educational support, and local fiat integration—less ideal for advanced traders seeking derivatives, margin products, or global access.