Every Phemex user has access to a BTC wallet and two types of Trading Accounts: a BTC Trading Account and a USD Trading Account.
For contracts that settle in BTC, users can trade using their BTC Trading Account. For contracts that settle in USD, users can trade using their USD Trading Account.
After making a deposit into the BTC wallet, users must then transfer or fund the individual trading accounts that they wish to trade with. Click here to read more information on the funding trading accounts.
When funding a USD Trading Account, Phemex will calculate conversion quotes using real-time Index Prices. A 0.1% fee applies.
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