Head-to-head
Backpack vs. Phemex
Data as of Oct 31, 2026
| Criterion | ||
|---|---|---|
| Score | 52.9 | 86.5Best |
| Regulation | VARA | FinCEN-MSB |
| Trading Cost | 0.18 %Best | 0.2 % |
| Spread | 0.0129 bps | 0.0013 bpsBest |
| Reported 24h Volume | $5M | $538.8MBest |
| Market Breadth | 88 markets | 1,019 marketsBest |
FAQ
Frequently Asked Questions
Which broker scores higher, Backpack or Phemex?
Phemex scores higher: 86.5 vs. 52.9 for Backpack.
Which broker has the lower trading costs, Backpack or Phemex?
Backpack has the lower trading costs: 0.18 % vs. 0.2 % for Phemex.
Which broker has the narrower spread, Backpack or Phemex?
Phemex has the narrower spread: 0.0013 bps vs. 0.0129 bps for Backpack.
Which broker has the higher reported 24h volume, Backpack or Phemex?
Phemex has the higher reported 24h volume: $538.8M vs. $5M for Backpack.
Which broker offers the greater market breadth, Backpack or Phemex?
Phemex offers the greater market breadth: 1,019 markets vs. 88 markets for Backpack.
Is Backpack regulated?
Backpack is regulated by VARA.
Is Phemex regulated?
Phemex is regulated by FinCEN-MSB.