Phemex Reviews
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KYC requirements for recovering lost funds
I recently had a really annoying experience trying to get my lost funds back on this platform because of their KYC requirements. I deposited some crypto coin and messed up one number in the tag, so they made me jump through hoops to prove my identity with all kinds of pictures and info. It was a huge pain and took forever, especially for just one little mistake. I had a similar problem on a different exchange, but they made it way easier and only charged a small fee without all the extra documentation. In the end, I lost $700 dealing with the complicated recovery process on this platform. Exchanges need to make it simpler for people to get their money back when things go wrong.
Bad experience
This website ain't reliable at all. I thought my info was good to go but they still blocked my withdrawal. I even took pics of the site and transaction and sent them over email. I'm fed up with these scammers, they're like pests that need to be dealt with.
Cryptocurrency trading experience
My experience with that platform was a total letdown. I've never dealt with such a hassle when trying to withdraw my funds, and that just isn't right. I was left in the dark for months with no communication, which was beyond frustrating. Luckily, another company stepped in and got me my money back. Plus, the platform's liquidity was subpar and didn't meet my standards.
Bad layout, high withdrawal fees, limited use of bonuses, poor user experience
Phemex is just terrible to use, seriously the worst. The layout is like a maze, I can never find what I need. Plus, they charge way too much for withdrawals, not cool at all. And those bonuses? Completely worthless. Feels like they're just trying to fool you and make you believe you're getting a good deal. Ugh, I regret ever using Phemex. Binance and coinex are miles ahead, believe me.
Withdrawal delays
My withdrawal has been taking forever. It's been over 3 days already, which is just not cool. I've never had to wait this long with any other platforms. Honestly, I shouldn't have even listened to my friend who told me to use this service.
Sign-up bonuses deception
As a customer using this platform, I have to admit that I was initially attracted by the great sign-up bonuses they were offering. But, as I dug deeper, I realized that a lot of these bonuses had some pretty tough requirements that basically made them not worth it. For instance, having to trade a bunch before actually getting the bonus felt like they just wanted to keep me around without giving me much in return. And on top of that, the extra fees for taking out my money or making transactions just made the whole thing even worse. It felt like they were trying to trick people into joining rather than actually giving them something good.
International money transfer
It's really not a good idea to try transferring money using this service. The banks will go to great lengths to stop you, and even if you somehow get around their roadblocks, the tax authorities will come after you. Stay away from this site that works with the tax authorities!
Liquidation mishap
I just wanted to share a bad thing that happened to me with this trading platform. They liquidated one of my positions out of nowhere, didn't even give me a heads up about the margins, and I ended up losing $1000. And on top of that, they did it at a price that wasn't even showing up correctly on the app! I was so mad and felt like I got ripped off. I just want to warn others to be careful with this platform, because I feel like they mishandled my money and took it without being straight up with me.
High sum crypto transaction
If you're working with a lot of cryptocurrency, I wouldn't recommend using this platform. They tend to get suspicious and think you're up to no good when hefty amounts are involved - like accusing you of shady stuff like terrorism and money laundering. Plus, the whole verification process is a pain - they keep asking for documents from years ago! And don't even get me started on the customer service, those folks ain't much help.
Sure, the website might have some neat features, but sometimes your money can get stuck in the blockchain, and if you take a break from the site, God knows where your funds end up.Crypto trading experience
My experience with the platform has been super frustrating because I kept running into glitches. It's so aggravating to lose money because of system errors, and then to be told it was my fault somehow, like what? The fact that they don't take responsibility is really worrying, and it makes me wonder if they're even trustworthy as a trading platform. I have a hunch they might be making money off of these mistakes and screwing over their customers.
Quick withdrawal request
I asked for my money, but I never received an email confirming it. I kept checking my inbox, but nada! It's like they're purposely holding onto my cash. Not cool at all. I'd suggest avoiding this place if you want your money quickly!
Cryptocurrency trading platform
I'm really frustrated that I can't get in touch with technical support directly on the website to help with the slow transfers I've been dealing with. It's been almost a week now and the fact that the issue hasn't been resolved promptly has me worried. A Plus, another company, has always been quick to help with any problems I've had. I was hoping for better responsiveness and support from a platform like this.
Review with most votes
Withdrawal delays
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