Phemex Review (2025) – $8,800 Bonus + 20% Fee Discount
In the fast-moving world of cryptocurrency, staying with the right exchange can make all the difference in your trading success. From evolving security demands to regulatory scrutiny and the rise of new features, choosing a trading platform is no longer just about low fees—it’s about trust, tools, and long-term value. That brings us to this updated Phemex Review for 2025, designed to give you a deep and honest look into whether this exchange still holds up against the growing competition.
Phemex has long been known for its high-speed trading infrastructure and generous referral perks, including its headline offer: up to $8,800 in welcome bonuses and 20% off trading fees using code “BVBE73”. These benefits have helped attract millions of users worldwide. But promotions alone aren’t enough. As we head into a more mature phase of the crypto industry, traders are now asking deeper questions: Is the platform still secure? Are the tools sophisticated enough for professionals? Is the pricing competitive compared to Binance or KuCoin?
This Phemex review answers all those questions—and more. We’ll break down the platform’s history, growth, core features, supported assets, fees, and mobile trading experience. Whether you’re a beginner or a pro, this guide will help you make an informed decision in 2025.
Phemex’s Journey: From Startup to Global Exchange
Launched in 2019 by former Morgan Stanley executives, this platform was created to bridge the gap between institutional-grade infrastructure and retail accessibility. With a vision to combine speed, security, and simplicity, the team behind this exchange introduced a trading engine capable of handling high-frequency transactions with minimal latency. Initially focused on derivatives, the platform gradually expanded into spot markets, staking, and passive income products—becoming a full-service crypto trading hub.
By 2021, the company had secured millions in Series A funding and rapidly scaled its user base across Asia, Europe, and the Americas. Within just a few years, it achieved a daily trading volume exceeding $1 billion, driven by its high-speed execution model and straightforward onboarding process. Unlike some exchanges that overcomplicate the user experience, the platform prioritized interface clarity and responsive customer support.
Over time, the exchange introduced features like advanced order types, mobile optimization, and API support to meet growing demand from professional traders and algorithmic investors. With each upgrade, user satisfaction continued to improve.
Today, Phemex operates in over 120 countries, supports dozens of languages, and is widely recognized as a high-performance alternative to traditional exchanges. From a small, agile startup to a global trading powerhouse, it has proven its ability to scale responsibly while remaining focused on user needs.
Market Position and Competitiveness in 2025
Expanding Global Presence and User Base
As of 2025, Phemex has secured its place among the top-tier global cryptocurrency exchanges. The platform currently serves over 7 million registered users in more than 140 countries, with especially strong penetration in Asia, Europe, and Latin America. This growing user base reflects its reputation for performance, trust, and ease of access.
The platform now processes over $6 billion in daily trading volume across its spot and derivatives markets. This figure is fueled by institutional partnerships, improved liquidity pools, and robust backend technology that ensures fast and accurate order execution. Phemex supports more than 1,500 trading pairs, ranging from top-tier assets to emerging tokens, providing users with ample choice for portfolio diversification.
Competitive Edge in the Crypto Exchange Landscape
In a saturated exchange market, Phemex sets itself apart through its balance of low trading fees, high-speed infrastructure, and powerful trading tools. The platform caters to all levels of users, offering both a simplified interface for beginners and advanced functions for professionals. It continues to stand out with its 20% fee discount campaign and tiered VIP trading model, attracting high-volume traders.
Notably, the platform permits certain trading activities without mandatory KYC—appealing to users seeking privacy, speed, and simplicity during onboarding. This has played a significant role in onboarding users from regions with tighter regulatory restrictions.
Technological Innovations and New Features
Phemex’s roadmap for innovation has remained aggressive in 2025. Key feature rollouts include:
Copy Trading: A social trading tool that lets users automatically mirror the positions of top-performing traders in real time.
Unified Trading Account: This allows users to manage margin and balances across spot and derivatives from a single wallet.
Dual-Asset Yield Tools: A hybrid earning product that offers passive income through structured investment strategies.
Additionally, the platform has upgraded its mobile apps for iOS and Android with enhanced performance, real-time market data, and secure biometric access.
Strategic Partnerships and Global Expansion
To support its rapid growth, Phemex has formed new alliances with liquidity providers, DeFi protocols, and regional fintech companies. The recent launch of a regional headquarters in Singapore aims to strengthen its foothold in Southeast Asia. It also participates in high-profile events such as TOKEN2049 and Blockchain Life, positioning itself as a thought leader and ecosystem builder in the global crypto space.
Safety and Security: Is Phemex Safe in 2025?
Regulatory Compliance and Legal Standing
As of 2025, Phemex maintains operational compliance across multiple jurisdictions. The exchange holds a Money Services Business (MSB) license in the United States and Canada, which supports its credibility with regulatory authorities. In addition, it has registered entities in Singapore and the British Virgin Islands, ensuring it can serve users globally while adapting to each region’s legal requirements. Although some services still operate without mandatory KYC in select countries, the platform continues to enhance its onboarding procedures to comply with tightening international standards.
Access is restricted in high-risk countries such as North Korea, Iran, and Syria, in line with global sanctions. By adhering to international anti-money laundering (AML) frameworks, the platform reduces exposure to legal risk and provides peace of mind for both casual and institutional traders.
Security Infrastructure and Fund Protection
Phemex uses a multi-layered security framework to protect user funds and platform integrity. The vast majority of assets are stored in cold wallets, which are air-gapped and use multi-signature protocols. These wallets are inaccessible via the internet and are protected by physical and procedural safeguards.
All accounts are equipped with two-factor authentication (2FA) through platforms like Google Authenticator. In addition, IP and device whitelisting features offer extra control over account access. Users can set withdrawal address whitelists to ensure funds only move to trusted wallets.
The platform runs continuous real-time monitoring to detect suspicious behavior, unauthorized access, and transactional anomalies. If triggered, these systems automatically freeze affected accounts and alert users via email or SMS.
Past Incidents and Recovery Protocols
Since its launch, the platform has maintained a clean record with no confirmed hacks or system breaches. This strong track record is bolstered by regular third-party security audits and stress tests conducted by blockchain security firms. However, the platform acknowledges the evolving nature of cyber threats and continues to invest heavily in infrastructure resilience.
To prepare for worst-case scenarios, a dedicated user protection fund has been established. While not publicized as a specific BTC reserve like some competitors, the fund is used to compensate users in the event of an internal system failure or breach.
Current Reputation in the Industry
In 2025, Phemex is considered a reputable exchange with high trust ratings from traders and industry reviewers. It scores consistently above 4.5/5 on leading app stores and is frequently highlighted in rankings by outlets such as CoinGecko and CoinMarketCap. The platform’s proactive communication during system upgrades and market events further cements its position as a transparent and user-focused service.
In-Depth Review of Key Features on Phemex
Spot and Futures Trading
Phemex offers a powerful trading engine that supports both spot and futures markets, catering to every type of trader. Spot traders can access over 1,500 trading pairs with deep liquidity and ultra-low latency. On the derivatives side, the platform offers perpetual futures with leverage options up to 100x. These markets are backed by real-time funding rates, risk controls, and an advanced liquidation engine that ensures system-wide stability during periods of volatility.
The platform allows seamless switching between trading modes and offers a unified margin account for more efficient capital allocation. For high-volume traders, maker/taker fee incentives help reduce overall trading costs significantly.
Copy Trading for Passive Growth
One of the standout features in 2025 is Copy Trading. This tool enables novice users to mirror the strategies of top-ranked traders in real time. Performance data, including ROI, trade frequency, and historical PnL, is displayed transparently, so users can make informed decisions before committing funds. Copy trading simplifies the path to profitability for beginners and offers income opportunities for expert traders who open their portfolios to followers.
Phemex Earn and Dual Asset Investment
For users focused on passive income, Phemex offers several yield-generating options. Through its Earn hub, users can stake stablecoins or crypto assets to receive APY rates ranging from 3% to 20%, depending on lock-up periods and market conditions. Its dual-asset investment products allow users to earn returns based on price movement between two selected assets, ideal for those seeking structured, time-bound yield strategies.
These programs are presented in a beginner-friendly layout, complete with calculators, risk indicators, and automated reinvestment settings.
Unified Trading Account
The Unified Trading Account (UTA) system is one of the platform’s most innovative additions. It allows users to manage spot, futures, and Earn balances within one interface. This reduces friction between transfers, improves margin efficiency, and simplifies risk management—especially useful for traders who operate across multiple markets simultaneously.
Advanced Order Types and Charting Tools
The trading interface integrates with TradingView, giving users access to professional-grade charting tools, over 80 indicators, drawing tools, and strategy testing options. It also supports advanced order types like stop-limit, trailing stop, take-profit/stop-loss combos, and One-Cancels-the-Other (OCO). These tools provide a high level of precision and automation for strategy-driven users.
Crypto Offerings and Trading Pairs on Phemex
Extensive Range of Cryptocurrencies
Phemex has significantly expanded its asset offerings in 2025, now supporting more than 1,500 trading pairs across both spot and futures markets. This includes all major cryptocurrencies—Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP—as well as an impressive selection of mid-cap and emerging tokens. The platform actively lists trending coins based on user demand, ecosystem growth, and liquidity performance.
Whether you’re a long-term holder seeking mainstream coins or a high-risk trader looking for undervalued gems, Phemex provides a broad ecosystem that accommodates various investment strategies.
Popular Trading Pairs and Market Liquidity
Liquidity is one of the platform’s core strengths. Its most active pairs, such as BTC/USDT, ETH/USDT, and SOL/USDT, see 24-hour volumes that consistently exceed hundreds of millions of dollars. These deep order books allow for efficient execution and reduced slippage, even during periods of intense volatility.
The exchange collaborates with institutional liquidity providers and algorithmic market makers to ensure constant flow across all major pairs. This high liquidity is a key advantage, especially for futures traders who rely on tight spreads and fast fills.
Token Listing Policies
Listing new tokens involves a multi-step vetting process, including project audits, team verifications, and volume analysis. The platform also integrates community feedback into the process—if enough users request a token, it’s reviewed for potential listing.
This approach helps maintain the quality of available assets while still enabling early access to high-potential projects. A dedicated “New Listings” tab helps traders stay updated on the latest market additions.
Innovation via Dual Assets and Index Products
In addition to traditional pairings, Phemex has introduced dual-asset investment products and thematic index trading. Users can invest in structured token baskets or predict price spreads between two correlated assets. These tools are designed for users seeking more advanced opportunities beyond conventional buy-and-hold or leveraged plays.
Regional Adaptability and Restrictions
Asset availability can vary by jurisdiction, but the platform offers tailored access based on region-specific laws and market demand. This localized flexibility ensures traders can legally access the widest range of options available in their country.
Understanding Phemex Fees and Limits
Trading Fees: Transparent and Competitive
Phemex utilizes a clear maker-taker fee model that caters to both casual and professional traders. For spot trading, the standard fees start at 0.1% for takers and 0% for makers. On the futures side, fees are set at 0.01% for makers and 0.06% for takers—highly competitive when compared to other top-tier exchanges.
Frequent traders can access discounted rates through the platform’s VIP tier system, which reduces fees based on monthly volume. Users who hold and use the platform’s native utility token for fee payments enjoy additional savings, sometimes lowering futures fees by up to 50%.
Withdrawal Fees and Network Costs
Withdrawal fees on the platform are dynamically adjusted based on blockchain congestion and do not include extra platform charges. For instance, a BTC withdrawal might cost around 0.0005 BTC, while stablecoin withdrawals on networks like TRC-20 remain ultra-low. Users can preview the network fee before executing any withdrawal, adding transparency to the process.
The platform does not impose daily withdrawal fees beyond standard network charges, and withdrawals are generally processed within 30–60 minutes depending on asset type and network load.
Deposit and Minimum Trading Requirements
Deposits in cryptocurrencies are free and usually credited after a single network confirmation. Although Phemex doesn’t currently support fiat deposits directly, it integrates with third-party services like Banxa and Mercuryo to allow credit card purchases and bank transfers in select regions.
Minimum trade sizes vary by asset but are generally low, making the platform accessible for beginners. For example, trades in BTC can be executed with as little as 0.0001 BTC, while altcoins may have minimum requirements around $10 equivalent.
Fee Comparison with Major Competitors
Compared to other top exchanges:
Binance: 0.1% for both spot maker/taker (with BNB discounts)
KuCoin: Starts at 0.1%, with tiered KCS reductions
Coinbase Pro: Up to 0.6% maker / 1.2% taker for low-volume accounts
Phemex holds its ground by offering equally competitive—often better—rates without compromising on performance or liquidity.
VIP Program and Long-Term Benefits
High-volume traders can qualify for exclusive VIP tiers that provide perks beyond just reduced fees. These include priority customer support, early product access, and dedicated account managers. VIP users also gain access to exclusive campaigns and trading competitions with bonus pools.
User Experience: Web, App, and Tools
Desktop Interface and Navigation
The web interface on Phemex has been refined in 2025 for both clarity and efficiency. The layout separates core functions like spot trading, futures, Earn, and copy trading into clearly labeled tabs. The platform’s dashboard includes a unified view of account balances, open positions, and pending orders—ensuring that even beginners can navigate confidently without feeling overwhelmed.
Key tools like TradingView integration, market depth charts, and order history are accessible with one click. The system is responsive, lightweight, and maintains fast loading speeds even during high-volume periods. Switching between trading pairs, executing orders, or analyzing price action happens with no noticeable lag.
Mobile Trading App
The mobile app—available on both iOS and Android—mirrors the desktop experience, offering access to all core trading features, including futures, spot, Earn, and staking products. A standout feature is its biometric login system using Face ID or fingerprint, ensuring secure and seamless access on the go.
The app includes interactive charts, one-click order placement, and real-time market alerts. Users can set notifications for price thresholds, portfolio changes, or market news. This allows traders to stay in control of their accounts no matter where they are.
The mobile app also supports dark mode, multi-language settings, and customizable widgets that let traders monitor favorite assets on the home screen.
Trading Tools and Integrations
In addition to its sleek UI, Phemex supports robust integrations for more advanced users. TradingView charting is embedded natively, giving users access to over 80 technical indicators and drawing tools. These charts can be expanded to full screen and sync seamlessly across devices.
For algorithmic and high-frequency traders, the platform offers a comprehensive API suite. The API includes endpoints for live market data, trade execution, position tracking, and account management. It’s designed to support everything from simple bots to institutional-grade trading systems.
Accessibility and Localization
The interface is available in over 12 languages and automatically adapts to regional preferences based on browser or device settings. Font sizes, layout spacing, and even content hierarchy adjust slightly depending on the selected language to improve readability.
Additionally, onboarding flows, verification processes, and trading tips are localized for regional users, enhancing the onboarding experience in countries like India, Brazil, and Indonesia.
Customer Support and Community Engagement
24/7 Multilingual Support
One of the cornerstones of Phemex’s continued success in 2025 is its commitment to responsive customer service. The platform provides 24/7 live chat support directly within the trading dashboard, where users can connect with support agents in under a minute during most hours. Email ticketing is also available for more complex inquiries that may require documentation or investigation.
Support is offered in multiple languages including English, Spanish, Mandarin, Portuguese, Turkish, and Hindi, ensuring a global user base can receive help in their preferred language. The multilingual coverage reduces friction for international users and contributes to the platform’s growing reputation as a globally accessible exchange.
Help Center and Educational Resources
The exchange’s Help Center has been expanded in 2025 to include hundreds of searchable articles, covering topics such as how to place trades, manage funds, understand fee structures, and use advanced tools like futures and copy trading. Each guide is paired with step-by-step visuals or video tutorials, making it easier for beginners to learn independently.
New users are guided through the platform via in-app onboarding tours, which highlight essential features like the trading interface, security settings, and order book navigation.
Telegram, Discord, and Social Media Presence
Phemex maintains an active community across various social media channels. Its Telegram groups are segmented by language and region, allowing users to interact directly with moderators, ask questions, and share feedback. The platform also runs regular AMA sessions, giveaways, and promotional events to drive engagement and reward loyal users.
On Twitter (X), Phemex posts real-time updates on listings, maintenance schedules, and market commentary. It also engages with the broader crypto community by retweeting trader insights and spotlighting community success stories.
Transparency and Feedback Handling
User feedback is encouraged and often integrated into platform updates. In 2025, several UI improvements and new features—including the simplified staking dashboard and dark mode enhancements—were added directly due to user requests.
Monthly “State of the Platform” updates summarize new features, upcoming changes, and user-submitted bug fixes. This consistent communication cycle reinforces user trust and keeps the community informed and involved.
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Phemex Review: Pros and Cons Summary
After exploring all of its major features, pricing, and platform infrastructure, it’s clear that Phemex offers a well-rounded experience for most crypto traders. However, like any platform, it comes with its strengths and a few areas that could be improved. Below is a concise breakdown to help you quickly assess if Phemex aligns with your needs in 2025.
Pros
1. Extremely Competitive Fees
Spot trading starts at 0.1% for takers and 0% for makers, while futures fees are as low as 0.01%. VIP users and WXT holders benefit from even deeper discounts, making the platform a cost-effective option for active traders.
2. Powerful Derivatives and Copy Trading
With up to 100x leverage, unified margin accounts, and one-click copy trading, the exchange is ideal for advanced users looking to implement more complex strategies or passive traders seeking exposure through professional traders.
3. Wide Asset Coverage and High Liquidity
Over 1,500 trading pairs are supported, with strong liquidity in major and mid-cap markets. This allows traders to execute orders with minimal slippage and diversify across different crypto sectors.
4. Earn and Staking Products
Users can earn passive income through flexible and fixed staking programs, as well as structured yield products. These features support both conservative and higher-yield strategies.
5. Professional-Grade Trading Tools
TradingView charts, advanced order types, and API access make this platform a serious tool for technical traders and bot developers alike.
Cons
1. Limited Fiat On-Ramp Options
Direct fiat deposits and withdrawals are not yet natively supported. Users must rely on third-party integrations, which can be restrictive or incur additional fees depending on location.
2. Regional Service Limitations
While global, some regions still face access limitations or slower verification processes due to evolving compliance requirements.
3. Less Transparency Around Insurance Fund Size
Unlike some exchanges that publicly disclose their insurance fund reserves, Phemex has not provided exact details about the size or liquidity of its emergency fund.
4. Occasional Withdrawal Delays During Network Congestion
Though typically fast, some users have reported minor delays during peak traffic or high-fee periods on popular networks like Ethereum.
Phemex vs Competitors: How Does It Stack Up?
When comparing Phemex to other major crypto exchanges in 2025—such as Binance, KuCoin, and Coinbase Advanced—several differences stand out. While all of these platforms offer solid infrastructure, each caters to different trader profiles based on fees, features, regulatory stance, and asset availability.
Fee Structure Comparison
Phemex stands out for its low futures fees and zero maker fees on spot trading. With VIP tiers and WXT token utility, users can further reduce their trading costs significantly.
Binance: 0.1% base spot fees, reduced by 25% with BNB. Futures fees start at 0.02% maker / 0.04% taker.
KuCoin: Similar base fees at 0.1%, with additional discounts for KCS token holders.
Coinbase Advanced: Significantly higher—up to 0.6% for takers and 0.4% for makers, depending on volume.
Asset Offerings
Phemex: Offers 1,500+ trading pairs including spot, futures, and structured products.
Binance: Over 1,800 pairs, including launchpad tokens and DeFi assets.
KuCoin: Popular for niche altcoins and early-stage project listings.
Coinbase: Focuses primarily on high-cap and U.S.-regulated assets, offering around 250 tokens.
Trading Tools and Interface
All major platforms offer integrated TradingView charts, advanced order types, and API access. However:
Phemex: Best known for its Unified Trading Account (UTA), Copy Trading, and low-lag trading engine.
Binance: Provides additional modules like strategy automation and launchpool staking.
KuCoin: Popular for its grid bots and trading competitions.
Coinbase: Easy UI but lacks advanced derivatives tools or automation features.
Security and Compliance
Phemex: Strong security record, cold wallet storage, and 2FA. Limited public data on fund reserves.
Binance: Industry leader in security with proof-of-reserves. Has faced regulatory pushback.
KuCoin: Continues to operate globally despite regulatory ambiguity. Security reinforced post-2020 incident.
Coinbase: Fully regulated in the U.S., but users pay for the added compliance through higher fees.
Who It’s Best For
Phemex: Best for active traders, futures specialists, and users seeking low-cost, high-speed execution.
Binance: Great for global users needing an all-in-one trading environment.
KuCoin: Appeals to altcoin hunters and users who want to automate with bots.
Coinbase: Ideal for beginners in the U.S. seeking simplicity, though at a premium cost.
Who Should Use Phemex in 2025?
Ideal for Active and Professional Traders
Phemex continues to shine as a go-to platform for active traders in 2025, particularly those dealing in futures, spot arbitrage, or high-frequency strategies. With a lightning-fast matching engine and ultra-low fees, it’s perfectly suited for users who execute large volumes or require rapid order placement. The platform’s Unified Trading Account allows traders to deploy margin efficiently across both spot and derivatives, eliminating the need to move funds between sub-accounts.
Advanced traders also benefit from the platform’s support for algorithmic strategies. The robust API, low latency, and integration with top trading bots like 3Commas and TradingView scripting make Phemex a high-performance choice for institutions and tech-savvy individuals.
Great Fit for Yield Seekers and Passive Investors
In 2025, passive income remains a major draw. The platform’s Earn section offers structured yield products, dual-asset investments, and staking across major coins like USDT, ETH, and SOL. Whether you’re a conservative investor seeking 5–10% APY or a high-risk trader experimenting with dual assets, the options available can be tailored to your preferred risk tolerance.
Copy trading is also ideal for beginners. Users can mirror top-performing traders with transparency into their historical performance, reducing the guesswork often associated with early-stage crypto investing.
For Users Who Prioritize Speed and Simplicity
The mobile app, now in its fifth generation, offers full trading functionality, including futures, Earn, and analytics—all optimized for one-handed use. Real-time alerts, biometric login, and in-app tutorials create an environment where even novice traders feel empowered.
If you want speed, stability, and a clean interface, the platform is among the top mobile-first experiences in crypto.
Users Seeking Alternatives to KYC-Heavy Platforms
While the platform supports KYC for higher withdrawal limits and regional access, certain trading functions remain available to non-KYC users. This balance between regulatory compliance and user privacy makes it appealing for those in regions with evolving or unclear legal frameworks.
Final Verdict – Is Phemex Still Worth It in 2025?
After a full examination of its performance, features, and user reputation, the answer is yes—Phemex remains one of the most competitive cryptocurrency exchanges in 2025. With powerful tools for both active and passive traders, a highly responsive trading engine, and a generous incentive structure, it caters to a wide range of user types from around the globe.
What truly sets Phemex apart this year is its focus on innovation without overcomplication. The platform balances simplicity and depth: beginners can benefit from copy trading, tutorials, and staking opportunities, while professional users get access to low-latency APIs, margin efficiency, and a growing list of tradable products. In a market where many exchanges are becoming bloated or overly regulated, Phemex has carved a niche as fast, efficient, and user-focused.
That said, it’s not without its limitations. The lack of built-in fiat on-ramps may require extra steps for some users, and clearer transparency around its emergency funds would increase trust. However, these shortcomings are relatively minor compared to the overall user experience and cost advantage.
For those looking for a reliable, scalable, and forward-looking trading platform, Phemex checks almost every box. Backed by a robust infrastructure and a vibrant community, it’s more than worth considering as your go-to exchange in 2025.
Frequently Asked Questions (FAQs) About Phemex
1. Is Phemex beginner-friendly?
Yes. Phemex offers a highly intuitive interface, detailed onboarding guides, and features like copy trading that make it easy for beginners to get started. The Help Center includes visual tutorials, and the mobile app simplifies trading with one-click functionality and price alerts.
2. In which countries is Phemex available?
The platform is available in over 140 countries, including major regions like the U.S., UK, Canada, India, Brazil, and Southeast Asia. However, it restricts access in sanctioned nations such as North Korea, Iran, and Syria in accordance with global compliance standards.
3. Does Phemex support fiat deposits or withdrawals?
Currently, direct fiat deposits are not supported. However, users can purchase crypto using credit/debit cards via third-party providers like Banxa and Mercuryo. For fiat withdrawals, you’ll need to transfer funds to an external wallet or exchange that supports conversion.
4. How secure is Phemex for storing funds?
Phemex utilizes multi-layered security protocols, including cold wallet storage, two-factor authentication (2FA), withdrawal address whitelisting, and real-time monitoring. While it’s considered highly secure, users holding large balances are advised to use hardware wallets for added protection.
5. How do I claim the $8,800 bonus?
To claim the full $8,800 in rewards, sign up using invitation code “BVBE73”, complete KYC verification (if required in your region), and fulfill specific trading tasks or deposit thresholds outlined in the promotions dashboard. Bonuses are unlocked in tiers and added to your account over time.