Without any doubt, Phemex and Huobi are two of the popular cryptocurrency exchanges out there.
Both exchanges are known for offering top-notch crypto trading services and have quite a lot of things in common.
Hence for any newbie crypto trader or investor, it can be a confusing choice to make between Phemex and Huobi.
However, while both exchanges may be similar, there are various key areas that separate both exchanges.
And in this article, we will be looking at those differences only and help you choose the right crypto exchange as per your needs.
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Phemex vs Huobi: At A Glance Comparison
Phemex is one of the newest cryptocurrency exchanges out there. It is known as the leading crypto derivatives trading platform founded in 2019.
The exchange was founded by a group of experienced wall street traders in order to provide a fast, secure, and user-friendly crypto exchange.
With Phemex, you will get a wide range of trading products ranging from perpetual contracts to futures contracts and options.
Plus, you are getting access to other features like copy trading, Phemex earns, and more. To sign-up on the exchange, you can use Phemex Invite code to get welcome bonus.
Huobi is one of the oldest cryptocurrency exchanges out there. The crypto exchange was founded back in 2013 in China but has a global presence in today’s time.
With Huobi, you can trade in a wide range of cryptocurrencies in multiple markets. It allows you to trade in the spot, margin, and derivatives markets.
Along with that, you will also get access to different crypto features. Such as dual investment, copy trading, Huobi earns etc.
Phemex vs Huobi: Trading Markets, Products & Leverage Offered
Phemex
- Spot market
- Margin trading with Cross with up to 5x leverage
- USD-M perpetual contracts with up to 100x leverage
- Coin-M perpetual contracts with up to 100x leverage
- Copy Trade
- P2P Trading
Huobi
- Spot Trading
- Margin Trading with leverage between 3x, 5x & 10x
- USDT-M and Coin-M perpetual contracts with leverage of up to 200x leverage
- Copy Trading
- Trading Bot
- P2P Trading
Verdict: There are hardly any differences in terms of product offerings. However, Huobi wins this segment with a few extra points. As the exchange offers, you leverage up to 200x, which can be extremely beneficial in derivatives trading.
Phemex vs Huobi: Supported Cryptocurrencies
Phemex
Phemex supports more than 350 crypto tokens and trading pairs. It includes both the major trade coins as well as many new crypto tokens.
Also, Phemex is known for adding new crypto tokens to its platform from time to time. So you can be assured that you will get to trade or invest in the trending crypto tokens. Some of the listed tokens are:
- ETH
- BTC
- SUI
- XRP
- TRX
- EDU
Huobi
Huobi is not behind in terms of supported crypto tokens.
The exchange supports over 1000 different types of crypto tokens. It also offers you access to both well-known cryptocurrencies along with newly launched tokens. Some of the listed tokens are:
- BTC
- ETH
- HT
- DOT
- XRP
- BSV
Verdict: As Huobi supports 1000+ crypto tokens, it is the winner for this section. But Phemex also has a good selection of crypto tokens.
Phemex vs Huobi: Trading Fee & Deposit/Withdrawal Fee Compared
Trading fees have to be the deciding factor when choosing a crypto exchange. It is always a good idea to go with an exchange with the cheapest trading fees for maximum profitability.
Phemex Spot Trading Fee
Phemex has a tiered fee structure with a maker-and-taker fee model.
The tier system is based on two different conditions – 30 days trading volume and the last 1d average hourly balance.
If you meet both conditions, only then will you get fee discounts. The standard fee charged by the exchange is:
- Maker Fee: 0.1000%
- Taker Fee: 0.1000%
Phemex Contracts Trading Fee
Coming to derivatives trading, it also has a similar tiered fee structure. But this time, the tier is based on one condition only – your 30 days trading volume. So the standard fee charged by the exchange is:
- Maker Fee: 0.0100%
- Taker Fee: 0.0600%
Phemex Deposit & Withdrawal Fees
Talking about deposits and withdrawal fees, there are no fees if you are depositing crypto from another exchange.
But for crypto withdrawals, the exchange charges you certain fees. The fee depends on the currency you are withdrawing and a few other factors.
Alternatively, if you don’t wish to pay any fees for deposits/withdrawals, then you can use Phemex’s P2P trading.
However, when it comes to depositing/withdrawing fiat, it will attract a transaction fee. The fee is charged by the payment processors like Simplex, Moonpay, etc.
Huobi Spot Trading Fees
Talking about Huobi’s spot trading fees also has a straightforward fee structure.
You get to see different levels of tiers with the maker/taker fee model.
Also, it offers you an additional 25% discount on your trading fees when you pay the bill using HT tokens. So here is what the regular and discounted fee looks like:
| Maker | Taker | |
| Regular Trading Fees | 0.2000% | 0.2000% |
| Discounted Trading Fees (25% Off) | 0.1500% | 0.1500% |
Huobi Futures Trading Fees
For futures trading, you get to see a similar tiered fee structure. However, for derivatives trading, you are only getting a 5% discount with HT tokens. And here is how the USD-M and Coin-M fee stands at:
| Maker Fees | Taker Fees | |
| USDT-M | 0.0200% | 0.0500% |
| COIN-M | 0.0200% | 0.0500% |
Huobi Deposits & Withdrawal Fees
You can deposit crypto tokens on the exchange without paying any fees. However, for crypto withdrawals, there will be a withdrawal fee that varies from one currency to another.
Also, if you are depositing or withdrawing fiat currencies, you will be subjected to a transaction fee. The fee will solely depend on your payment option selection.
But since Huobi supports P2P trading. You can deposit funds without any deposit or withdrawal charges.
Verdict: Phemex offers you cheaper trading fees compared to Huobi and is the winner of this segment. Also, if you increase your 30 days trading volume, you will enjoy additional discounts.
Phemex vs Huobi: Order Types
Huobi
- Market
- Limit
- Trigger
- TWAP
- Trailing stop
- Grid
Phemex
- Limit
- Market
- Limit Conditional
- Market Conditional
Verdict: It is a tie between Phemex and Huobi, as there are hardly any differences between the two.
Phemex vs Huobi: KYC Requirements & KYC Limits
Phemex
With Phemex, you are not required to complete your KYC as it is a no-KYC exchange.
Also, with just the basic verification, you will get access to unlimited crypto deposits and trading. Plus, it offers you a daily crypto withdrawal limit of up to $50,00K.
However, by completing your identity verification on the exchange, you will enjoy access to features like unlimited P2P trading, launchpad, and more bonuses.
Huobi
Huobi also doesn’t require you to complete your KYC before you can start trading on the exchange.
Without verifying your account, you are allowed to deposit and withdraw crypto tokens and use P2P. But by verifying your account, you will enjoy access to fiat deposits and withdrawals.
Verdict: It is again a tie between Phemex and Huobi. As both exchanges can be used without completing your identity verification.
Phemex vs Huobi: Deposits & Withdrawal Options
Phemex
- Method 1: Deposit/withdraw crypto using payment methods like SWIFT, SEPA, ACH, FPS, and Credit/Debit card purchases.
- Method 2: Transfer crypto from another exchange or wallet.
- Method 3: Deposit/withdraw funds using P2P Trading.
Huobi
- Method 1: Buy crypto using Visa, Mastercard, and third-party payment options like Neofi.
- Method 2: Transfer crypto from another exchange or wallet.
- Method 3: Deposit/withdraw funds using P2P Trading.
Verdict: Phemex wins this segment. As it supports more payment options for depositing/withdrawing fiat compared to Huobi.
Phemex vs Huobi: Trading & Platform Experience Comparison
Both Phemex and Huobi offer you an advanced trading platform. Both of the exchanges’ trading platform is pretty identical and has all the needed features. You will get to see features like:
Phemex
- Advanced technical chart powered by TradingView
- Multiple order types
- Easy-to-use order form
- Order book and recent trades
- Open & closed positions, active orders, and conditional orders
- Order history
You can learn more about executing trades on the exchange by checking this quick guide on how to short Bitcoin on Phemex.
Huobi
- Original and TradingView technical chart
- Trading Pair details
- Order book
- Easy-to-use order form
- Positions, open orders, order history, transaction history, position history, and transaction records
To learn more about Huobi’s trading experience, you can quickly go through this guide on how to short Bitcoin on Huobi.
Verdict: There are no differences in terms of the trading platform. That is why I am declaring it as a tie.
Phemex vs Huobi: Customer Support
Phemex
Phemex offers you support in multiple ways.
First of all, you can use their live chat option to connect with a support agent instantly. Or you can use the live chat option to access different help guides.
Along with that, they also offer their support over email. Plus, Phemex has a Telegram channel where you can ask your queries, and other fellow traders will help you out.
Huobi
Huobi support can be reached in many different ways.
The easiest option is to reach out to them via the live chat option. As well as you can get help via their support email. Plus, Huobi also has a faster response time.
Verdict: Phemex is the winner of this segment. As it offers multiple ways to connect with the support team or get help.
Phemex vs Huobi: Security Features
Phemex
- Two-factor Authentication
- Anti-phishing code
- Device management
Huobi
- Two Factor Authentication
- Third-Party Account
- Authorization
- Trading Password
- Anti-Phishing code
- Beneficiary settings
- Emergency contact settings
Verdict: Huobi wins this segment with a slight margin. As it offers an extended number of security features compared to Phemex.
Is Phemex Safe & Legal To Use?
Phemex is one of the safest platforms to trade crypto derivatives.
The exchange is registered in the British Virgin Islands and is subject to the laws and regulations of the region.
Along with that, the exchange also complies with anti-money laundering and counter-terrorism financing laws and regulations.
Furthermore, Phemex also has implemented various security features and uses offline storage to keep users’ funds and data secure. Also, as a user, you are getting several features to protect your account.
Is Huobi Safe & Legal To Use?
Huobi is also a safe and legal platform for trading cryptocurrencies.
The exchange is known for holding its client’s funds in multi-signature cold wallets.
Along with that, it has 20,000 BTC security reserve funds to deal with any extreme security accidents.
Plus, it also offers several high-security features to its users.
Plus, it has also implemented several security features. Also, the exchange doesn’t have any history of security breaches to date.
Phemex vs Huobi Conclusion: Why not use both?
It is a close match between Phemex and Huobi, as there are hardly any differences between these two top crypto futures exchanges.
However, Phemex wins this comparison with a slight margin.
It has cheaper trading fees, an advanced trading platform, and wide range of order types, and deep liquidity. So you can trade effectively.
But Huobi is not behind. It has a good number of supported tokens, high leverage, and several other features.
So go ahead and check both these exchanges out and see which one you like the most.
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