If you are based in the United States and are looking to use Phemex in US or trade via any other cryptocurrency exchange tool, then choose the exchange wisely. What you need to look for in exchange is how they comply with state regulations, platform licensing, and federal oversight. Honestly, some exchanges operate with full compliance, while many others walk a rather murkier path.

Phemex exchange is one of the leading cryptocurrency trading platforms and is known for its speed, low fees, and user-friendly design. However, due to US regulatory restrictions, Phemex in US is limited in some states. This is where the combination of a reliable platform and a trusted VPN solution can come into play. That’s why the way you access and use any crypto exchange becomes as important as the exchange itself. This article walks you through using Phemex, exploring its availability in the U.S., and how you can use EonVPN safely and effectively to enhance your crypto-trading setup.

What is the Phemex exchange?

Phemex is a cryptocurrency exchange that offers a wide range of services:

  • Spot trading (buying and selling cryptocurrencies instantly)
  • Futures and derivatives trading (including high‑leverage contracts)
  • Copy trading (automatically replicates trades of top traders)
  • Trading bots & grid trading bots
  • Tiered membership model for its premium memberships with extra benefits.
  • Competitive fee structure and incentives (lower fees for certain trades/users)
  • High-performance interface and fast trade execution

What people mostly like about Phemex is how straightforward using it feels. The interface is clean and easy. The trades run smoothly, and there is something for everyone, for instance, from low fees for beginners to a mix of trading pairs and advanced options for beyond basic trading.

However, as we will discuss, the fact that the Phemex exchange is available globally does not mean you get full access in every region, including the US.

Is Phemex a US company?

No, Phemex is not a US-based company. Its registration, operations, and legal domicile make it more of an international platform rather than a domestic US exchange.

Here is where things get important for US-based users: multiple sources confirm that Phemex is not fully licensed to operate in the United States and does not hold the full legal approvals required to serve US residents in all capacities. Some regions within the US or some states may be blocked entirely. For instance, the terms of use list “United States of America” among restricted territories.
So, the answer to “is Phemex legal in US?” is that while using the platform is technically possible, doing so can be more of a regulatory risk than using a platform explicitly licensed to serve US residents.

How to use Phemex in US?

If you are committed to using Phemex in US, a VPN like EonVPN can help by changing your IP address. Using a VPN gives you:

  • A secure, encrypted connection to Phemex.
  • The ability to select server locations outside the US, potentially enabling access to regions where Phemex offers full functionality.
  • An extra layer of privacy and security is useful in crypto-trading.

How to use Phemex in US with EonVPN

  1. Install EonVPN on your laptop or desktop since it is a web-based VPN.
  2. Open the app and sign in to your EonVPN account.
  3. Choose a server in a region where Phemex is fully supported (for example, a European country).
  4. Now access Phemex in US safely through Phemex’s website and register or login there.
  5. Begin trading while still connected to the VPN.

Disclaimer: Using a VPN does not guarantee compliance with your state/local rules. It can help with technical access, but does not change the legality or licensing status of the exchange in your jurisdiction. Therefore, proceed with full awareness of risks.

Can you use Phemex in the US without a VPN?

The short answer is ‘using Phemex in the US without a VPN depends on your US state’. According to public data, Phemex’s terms state that users from the United States may not use certain services.
Phemex T&U guide notes:

“Phemex is not fully regulated in the US and operates in a limited capacity. While it is not explicitly banned, US residents might face legal risks when using the platform.”

In other words, Phemex does not broadly advertise support for US-resident users.

What happens if a US-based user attempts to sign up for Phemex without a VPN?

If you attempt to register from a US IP address or access the platform from a restricted region, you might encounter the following:

  • Account or feature denials (especially for futures/derivatives).
  • The risk of service suspension or withdrawal restrictions (as the company’s terms allow for suspension tied to “Proscribed Persons” and jurisdictions).
  • Regulatory risk: Since Phemex is not regulated for US users, you may have fewer protections if something goes wrong.

Why using a VPN can enhance your crypto security?

Trading crypto safely involves picking the right exchange, and you also need to protect your connection, your devices, and your account details. A VPN adds a layer of defence by:

  • Encrypted traffic: It stops eavesdropping on WiFi or local networks, which is especially relevant if you access your account from cafés, airports, or busy spaces.

  • Location masking: By hiding your real IP address, you reduce the risk of geo-locking or IP-based blocking.

  • Consistent access: If your home network or ISP location happens to change or restrict any services, then a VPN provides more options.

With EonVPN, you get strong platform security, such as your exchange’s 2FA, and a layer of secure network.

Is Phemex safe and legit?

Phemex offers multiple security layer features, including two-factor authentication (2FA), anti-phishing codes, and other standard safety features. A lot of users say they enjoy how easy the platform is to use and how well it works.

Has Phemex had breach incidents?

Yes, in January 2025, Phemex suffered a large security breach with over US $85 million stolen from its hot wallets.
Another independent rating cer.live assigned Phemex a security rating of “D” with a 24% score, citing lack of approved penetration testing and weak bug bounty programs.

Which crypto app is allowed in the USA?

Many crypto apps and exchanges are allowed in the USA. What is important for you is to check that the platform is regulated in your state.

If you are based in the US and want full compliance with regulators, we suggest that you opt for crypto exchange apps that are licensed for US residents (for example, those registered with the SEC or CFTC or holding state licences).
When you select a US-friendly crypto exchange app, search for:

  • Full legal registration in your state or nation.
  • Clear disclosures, public audits, and decent security ratings.
  • Strong reputation, good reviews, and no major unresolved hacks or legal issues.

How to choose a crypto exchange in the US?

Going through the details of crypto app rules can be confusing. Here are three simple questions you should get answers to as a US resident:

  • Are you trading on an exchange that can one day restrict your exit or freeze assets due to non-compliance?
  • Does the exchange’s terms of use explicitly restrict access for US persons?
  • Are you ok with higher risk in return for certain features that US-licensed exchanges may prohibit or limit?

If your priority is following the rules and your protection, then you should prefer a US-regulated platform instead.

Conclusion:

You can access an exchange like Phemex in the US by using a VPN. But it is not the same as using a US-licensed crypto exchange. If you plan to use Phemex, it would be better to go over and carefully read their rules to check that trading from your state is allowed, and also, you enable strong security (2FA, anti-phishing) and use a trustworthy VPN network like EonVPN.

FAQs

What country is Phemex from?

Phemex is a cryptocurrency exchange based in Singapore. It operates internationally, serving users around the world, but its services may be limited in some countries, including the U.S., due to local regulations.