Phemex Trading Bonuses are rewards provided to users through various events, campaigns and promotions held at Phemex. For example, all rewards offered through welcome bonus promotions are in the form of trading bonuses.
Phemex’s trading bonuses come in two forms:
- USD Trading Bonus: A USD bonus that can be used to trade all contracts except BTC.
- BTC Trading Bonus: BTC bonus that can only be used to trade BTC contracts.
Are trading bonuses the same as using cryptocurrency or cash?
no. Trading bonuses are free funds paid out to your BTC or USD contract trading account. This means that this trading bonus can only be used for contract trading and cannot be withdrawn to a spot wallet.
Again, this right now can only be used for contract trading , not spot trading.
If you wish to withdraw and transfer your trading bonus, the entire amount will be lost. In addition, trading bonuses are not transferable to other users.
Trading bonuses cannot be withdrawn, but can be used for contract trading just like regular funds. Any revenue (realized PNL) from the transaction can be withdrawn.
How exactly are trading bonuses used?
To illustrate exactly how trading bonuses are used, let’s say you receive a trading bonus. You can now use these funds (bonus) to open new BTC contract positions just like in normal contract trading.
If a user earns a profit by opening a position as a bonus and closing a position, all realized profits can be owned, withdrawn or transferred. However, upon withdrawal of the realized profits, any remaining trading bonuses in the contract trading account will be forfeited.
Also, if a position is closed or liquidated due to a loss, the trading bonus will cover all losses.
If there are both regular funds and trading bonuses in the contract account at the same time, the funds and bonuses are split in 50% increments. For example, if you have an open position that requires you to pay a $10 funding fee, $5 will be discounted from your own funds and the remaining $5 will be discounted from your trading bonus. This means that the bonus and real asset ratio will be used as 5:5 respectively.
Trading Bonuses – Key Points and Additional Restrictions
Trading bonuses can only be used for contract trading.
Trading bonuses cannot be withdrawn. If you withdraw your bonus, all bonuses will disappear immediately.
Trading bonuses can be used to open new positions, pay commissions or cover losses. Bonuses cover 50% of fees and losses, with the remaining 50% coming from within your own trading account. If your contract trading account has no funds other than the trading bonus, the bonus will cover 100% of all fees and losses.
You cannot sign up with multiple emails to receive multiple bonuses. If the system detects cheating, your account will be blocked.
If your account has been banned due to multiple account violations, please contact our online help center or email us at support@phemex.zendesk.com.
Phemex reserves the right to amend these bonus conditions at any time.
Please check Phemex official website or contact the customer support with regard to the latest information and more accurate details.
Phemex official website is here.
Please click "Introduction of Phemex", if you want to know the details and the company information of Phemex.
Comment by Hans
April 24, 2024
as I am trading here various assets, for me it's the most important feature. i mean, flexibility in tradable markets. i alternate trading styles, meaning that sometimes I trad...