Two exchanges with the lowest fees in the industry — but which one actually wins? We compared Phemex and MEXC across every dimension that matters for traders in 2026.
⚡ Bottom Line
MEXC wins on fees (0% vs Phemex’s 0.01%) and coin selection (2,000+ vs 300+). Phemex wins on execution speed, security track record, and institutional infrastructure. For pure fee efficiency: MEXC. For serious derivatives traders: Phemex.
Fees Comparison
| Fee Type | Phemex | MEXC | Winner |
|---|---|---|---|
| Spot Maker | 0.10% (or $0 Premium) | 0.00% | MEXC ✓ |
| Spot Taker | 0.10% (or $0 Premium) | 0.05% | MEXC ✓ |
| Futures Maker | 0.01% | 0.00% | MEXC ✓ |
| Futures Taker | 0.06% | 0.05% | MEXC ✓ |
| Zero-Fee Plan | $9.99/mo spot | Always free | MEXC ✓ |
💡 When Phemex Premium Beats MEXC
MEXC charges 0.05% taker on spot. Phemex Premium at $9.99/month gives zero taker fees. For a trader doing $20,000+ in spot taker volume per month, Phemex Premium ($9.99) is cheaper than MEXC taker fees ($10+). Above that threshold, Phemex wins on spot.
📊 Want to know exactly how much you’ll pay? Use our free crypto exchange fee calculator to compare trading costs across Bybit, MEXC, Bitget, Phemex, and OKX in real time.
Features Comparison
| Feature | Phemex | MEXC |
|---|---|---|
| Spot Pairs | 300+ | 2,000+ |
| New Listings | Selective | Industry-leading |
| Max Leverage | 100x | 200x |
| Engine Speed | 300,000 TPS | Standard |
| Copy Trading | ✗ No | ✗ No |
| Trading Bots | Basic | Grid + DCA bots |
| Earn/Staking | ✓ Yes | ✓ Yes |
| Hacks Since Launch | Zero (since 2019) | Zero major |
| Welcome Bonus | Up to $8,800 | Up to $1,000 |
Who Should Choose Which?
Choose Phemex if:
- You trade futures with limit orders
- Execution speed and latency matter
- You trade BTC, ETH, and major pairs
- You want zero spot fees for flat monthly rate
- Institutional-grade infrastructure matters
Choose MEXC if:
- You want maximum fee savings (no subscription)
- You trade altcoins and new listings
- Coin selection is important
- You use trading bots (grid/DCA)
- You want free taker fees on futures
Verdict
MEXC wins the pure fee war — 0% is lower than 0.01%. But Phemex’s execution engine, Morgan Stanley pedigree, and Premium membership model make it the better choice for high-frequency derivatives traders. Many serious traders use both: MEXC for altcoins, Phemex for futures.
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Frequently Asked Questions
Which is cheaper — Phemex or MEXC?
For spot trading, MEXC wins with 0% maker fee. For futures, MEXC also wins with 0% maker. However, Phemex Premium ($9.99/month) gives zero spot fees, which can be cheaper for high-volume taker traders above $20k/month.
Is Phemex or MEXC better for futures trading?
Both offer very low futures fees. MEXC wins on raw fees (0%). Phemex wins on execution speed, engine performance, and institutional infrastructure. Both are legitimate top choices for futures traders.
Which has more coins — Phemex or MEXC?
MEXC has 2,000+ coins vs Phemex’s ~300. For altcoin traders, MEXC is significantly better. Phemex focuses on major assets and derivatives.
Affiliate disclosure: This article contains referral links to Phemex and MEXC. We may earn a commission at no extra cost to you.