Phemex Announces Switch to Subscription-Based Trading

Phemex, a cryptocurrency derivatives exchange, will be switching from a trading fee model over to a subscription model, CoinDesk reports.

The goal with this is to make trading a little more accessible and to provide more services to users. According to a blog post, this premium spot trading will go live on May 15th.

Here are some of the features coming with this offering:

• Premium Spot Exchange users will be subjected to ZERO trading fees
• All current and new users will receive a 7-day free Premium Membership Trial
• Full Premium Membership rates range from 9.99 USDT/Month, 19.99 USDT/3 Months, or 69.99 USDT/Year
• Full Premium users will also have the ability to gift a 30-day Premium trial to anyone they wish
• Our Derivatives Contract Exchange features will remain unchanged

Switching to a subscription model should allow for more volume, as users would be able to trade as much as they like on the platform without worrying about fees for each one. This could entice subscribers to trade more or at least spend more on the platform due to lesser fees per trade. It can also ensure some users participate more in trading than they did beforehand.

In other exchange news, Binance recently announced support for the ZAR, as InsideBitcoins has previously reported on.