Trading cryptocurrencies with leverage is popular as it allows you to multiply profits and make more from smaller price movements. One of the most popular venues for crypto derivatives trading is Phemex. This Phemex Leverage guide will tell you exactly what the maximum leverage is on Phemex as well as give you a tutorial on how to use it on the exchange. If you want to get a general overview of the exchange instead, check out our full Phemex review.
What’s the maximum leverage on Phemex?
The maximum leverage on Phemex is 100x (100:1). This means that you can trade with 100 times more than your account balance. To put that in understandable terms; if you had $1,000 on your Phemex account, you could trade with $100K on the crypto trading platform.
The maximum leverage you can use on Phemex depends on what you are trading. The max 100x is only for Bitcoin as it is the most liquid, but it varies for the other trading pairs on the exchange. We’ve put together a table below which shows you the maximum leverage for each trading pair on Phemex.
How to Change Leverage on Phemex
Changing leverage on Phemex is simple – it’s no different to other main crypto exchanges like BitMEX.
- Create a free Phemex account by clicking here (+ CLAIM $72 WELCOME BONUS)
- Go to the Phemex trading screen (https://phemex.com/trade/BTCUSD)
- Under the order form on the left-hand side, you’ll see a box with a slider – this is the Phemex leverage control box
- Either drag the slider to your desired leverage or click on the edit button and enter it manually
- Open your position
- If you want to change the leverage of your position during a trade on Phemex, you can, although you’ll need to make sure that you have the margin to cover the change or it won’t go through