Phoenix offers up to 25x leverage.
Phoenix supports up to 25x leverage on crypto, commodities, stocks markets. At 25x, a move of roughly 4.0% against you is enough to wipe out your margin and trigger a liquidation.
High maximum leverage is a feature, not a recommendation. Most experienced traders use a fraction of the maximum and keep spare margin to survive volatility.
Phoenix ranks #23 by maximum leverage among the venues we track. See the full highest-leverage ranking.