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GM Gemini VS PH Phemex
Both exchanges offer Spot. The differences below come from our individual reviews of Gemini and Phemex.
| Gemini | Phemex | |
|---|---|---|
| Founded | 2014 | 2019 |
| Regions | Strong US availability under New York state trust-company oversight. A separate non-US entity, Gemini Foundation, offers derivatives to customers outside the US, UK, and EU; US customers cannot trade margin or perpetual futures on Gemini at all. | Available in most regions outside the US, UK, Canada, and a growing restricted list that has recently added Australia, Hong Kong, and South Africa; EU access continues without MiCA authorization: verify local availability before signing up. |
| Products | Spot, Staking, Perpetual futures (non-US customers only, via Gemini Foundation), Institutional custody | Spot, Margin, Perpetual futures, Copy trading, Earn / lending |
| Maker fee | Verify current tier: Gemini's default app and its ActiveTrader interface run different, volume-based fee schedules | Verify current tier: Phemex uses a volume-based maker/taker schedule (spot starts around 0.1%/0.1%; futures maker fees are among the lowest of any major exchange, around 0.01% at entry tier) |
| Taker fee | Verify current tier: Gemini's default app and its ActiveTrader interface run different, volume-based fee schedules | Verify current tier: Phemex uses a volume-based maker/taker schedule (futures taker fees run above the industry average, around 0.06% at entry tier) |
Gemini pros
- NYDFS-chartered limited purpose trust company with fiduciary and qualified-custodian status under New York Banking Law since 2015
- Now a publicly traded company (Nasdaq: GEMI, listed September 2025), adding public financial disclosure on top of existing state oversight
- Strong account-security tooling, including hardware-key 2FA, and no reported hack resulting in loss of customer crypto
- The Earn collapse was ultimately resolved with the large majority of assets returned, and an arbitrator later found Gemini itself not at fault
Phemex pros
- Entry-tier futures maker fee (around 0.01%) is lower than Binance, Bybit, or OKX at equivalent volume
- Broad leverage ceiling, up to 100x on major pairs, for traders who specifically want it
- Copy trading with multiple position-sizing modes (fixed margin, multiplier, smart ratio) rather than a single one-size-fits-all follow function
- Fast recent growth in listed assets and user base, now covering 600+ tokens plus tokenized stock and metals futures
This table is generated from the same data behind our individual exchange reviews. See methodology for how it's put together. Fee figures marked "not yet verified" need confirming against live terms before this page is treated as launch-ready.