Summary: Phemex is a Singaporean cryptocurrency exchange catering to 5 million users from over 150 countries, offering a broad range of services and products. Known for its widespread availability, it only restricts its services to 35 countries. 

It prioritizes security, adhering to rigorous international regulatory standards. The platform undergoes regular audits and complies with strict data protection, IT security, plus AML and KYC requirements. 

‍Phemex Supported Countries

Phemex, a leading cryptocurrency exchange, serves millions of users across 153 countries. Headquartered in Singapore, Phemex has established a significant presence in key global markets, including Asia, Europe, Oceania, and Latin America.

As a globally accessible platform, it supports deposits in 117 traditional currencies, including USD, EUR, MYR, TRY, GBP, AUD, JPY and CAD. The interface is also available to use in English, Russian, Japanese, Spanish, German, French, Turkish, Portuguese, and Vietnamese, catering to its diverse user base.

Phemex Restricted Countries

Phemex imposes service restrictions across the African and Asian regions, specifically North Korea, Iran, and other countries where regulatory compliance is not feasible. If your jurisdiction is listed among the restricted countries, you cannot use the exchange.

Here is a quick overview of the countries that cannot use the Phemex exchange:

  • North America: United States of America, Canada (Ontario, Québec, Alberta, Saskatchewan), Bermuda and Nicaragua.
  • Europe: United Kingdom, Abkhazia, Belarus, Belgium, Crimea, Sevastopol, Russia
  • Asia: Afghanistan, China, Hong Kong, Iraq, Iran, Lebanon, Myanmar, North Korea, Palestine, South Korea, Syria and Yemen.
  • Africa: Central African Republic, Democratic Republic of the Congo, Ethiopia, Libya, Mali, Republic of Seychelles, Somalia, South Sudan, Sudan and Sahrawi Arab Democratic Republic.
  • South America: Cuba and Venezuela.

These measures ensure that Phemex adheres to global compliance standards, effectively managing risk while maintaining the integrity and security of its operations.

‍Phemex Licenses

Phemex is regulated and has obtained licenses in several jurisdictions to ensure compliance with global financial standards. The key regulatory bodies overseeing Phemex's operations are:

  1. Lithuanian Securities Commission: Phemex is regulated by this authority in Lithuania, where it operates under the name Phemex Lithuania UAB.
  2. Investment Industry Regulatory Organization of Canada (IIROC): This organization oversees Phemex's operations in Canada, ensuring adherence to Canadian financial regulations.
  3. Capital Markets Board of Turkey: Phemex is also regulated by this body in Turkey, which provides oversight to ensure compliance with local financial laws and regulations​​​​​​.

These regulatory frameworks enforce stringent compliance policies, including Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) regulations. Phemex employs advanced security measures such as multiple encryption layers, cold wallet storage, and two-factor authentication (2FA) to protect user assets and data. 

About Phemex

Phemex is a cryptocurrency exchange based in Singapore, serving 5 million users worldwide. It offers a wide range of digital assets and advanced trading features for both beginners and experts. Phemex operates under strict international regulations, ensuring strong anti-money laundering (AML) and counter-terrorist financing (CTF) measures. With a multilingual interface and support for various fiat currencies, Phemex ensures accessibility.

Phemex Exchange.

Bottom Line

In conclusion, Phemex is a globally accessible cryptocurrency exchange serving millions of users across 150 countries. It adheres to strict international regulatory standards, ensuring strong security and compliance. With a user-friendly multilingual interface and support for various fiat currencies, Phemex provides a reliable platform for traders worldwide.