FomoTraders earns a referral reward from Fomo, so weigh this accordingly. Phantom facts come from Phantom’s own help center, checked on 17 October 2026. Fomo has also published its own comparison, listed in the sources below.
Side by side
| Fomo | Phantom | |
|---|---|---|
| What it is | Social trading app | Self-custody crypto wallet with swaps, perps and a desktop trading terminal |
| Swap fee | 0.50% (0.45% with a referral code), route-based on Solana, 0.05% on major tokens | 0.85% on most swaps; stablecoins into its Cash account are free |
| Network fees | Covered by Fomo on Solana; paid by you on other chains | Paid by you, though some swaps can be gasless |
| Chains | Solana, Base, BNB Chain, Monad, Ethereum, Robinhood Chain and Arc | Solana, Ethereum, Polygon, Bitcoin, Base, HyperEVM and Robinhood Chain |
| Sign-up and keys | Apple or Google sign-in, no seed phrase; keys split into shares and exportable | Recovery-phrase wallets, or Google and Apple sign-in; recovery phrase exportable |
| Perps | Yes, via Hyperliquid; not for US persons | Yes, via Hyperliquid; not in the US, UK and some other regions |
| Social trading | Live feed of every trade, written theses, profit leaderboard, follows | Not a focus |
What the fee gap means in dollars
On an illustrative $1,000 swap, Phantom’s 0.85% fee is $8.50. Fomo’s standard 0.50% is $5.00, or $4.50 with a referral code. That’s $4.00 saved per $1,000, on every buy and every sell.
For someone trading $5,000 a month, that’s $42.50 in fees on Phantom against $22.50 on Fomo with a code. On Solana, Fomo also pays the network fees, which matters most on small trades. Exact Solana fees depend on the route Fomo picks, so check the quote in the app. Our fee calculator shows the numbers for your own trade size.
Where Fomo is stronger
- Lower trading fees than Phantom’s standard 0.85% swap fee.
- Built for trading. One cash balance across seven chains, and Solana gas covered.
- Social context. See what top traders buy, their written theses, and their profit on a leaderboard.
- Simpler start. Card and Apple Pay deposits where available, and no seed phrase to manage.
Where Phantom is stronger
- A full wallet. Hold, send and use crypto across many apps, including Bitcoin.
- Connects everywhere. Phantom is the wallet many Solana apps and websites ask you to connect.
- Free stablecoin moves into its Cash account, and gasless swaps on some routes.
- Recovery-phrase control for people who prefer managing their own seed phrase.
Which should you use?
Choose Phantom if you want an everyday wallet to hold crypto, connect to other apps, or use Bitcoin.
Choose Fomo if trading tokens is the main thing you do. Its standard fee is lower, it covers Solana gas, and its feed shows you what experienced traders are doing.
Plenty of people use both. Fomo lets you withdraw to an external wallet like Phantom, as our withdrawal guide explains.
Sources
- Trading fees on fomo · Fomo Help Center, updated 8 Oct 2026
- How referral codes and fee discounts work · Fomo Help Center, updated 12 Oct 2026
- Supported chains · Fomo Help Center, updated 8 Oct 2026
- The social feed · Fomo Help Center, updated 23 Apr 2026
- Posting a thesis · Fomo Help Center, updated 8 Oct 2026
- Leaderboard · Fomo Help Center, updated 8 Oct 2026
- How fomo keeps your crypto secure · Fomo Help Center, updated 8 Oct 2026
- What is a private key and how to protect it · Fomo Help Center, updated 8 Oct 2026
- What Perpetual Futures Are on fomo · Fomo Help Center, updated 10 Jun 2026
- How to deposit funds · Fomo Help Center, updated 8 Oct 2026
- fomo vs Phantom Wallet: Which Crypto App Fits Your Trading Style? · Fomo blog, updated 26 Feb 2026
Product details checked against these sources on 16 Oct 2026. Fomo can change its app, fees and policies; the live app is the final word.
- help.phantom.com/hc/en-us/articles/5985106844435-Swap-crypto-in-Phantom
- help.phantom.com/hc/en-us/articles/46595961428627-Can-I-manually-add-a-network-to-Phantom
- help.phantom.com/hc/en-us/articles/42292249388307-Trade-perps-in-Phantom
- help.phantom.com/hc/en-us/articles/46527102843027-Trade-tokens-and-perps-in-Phantom-Terminal
- help.phantom.com/hc/en-us/articles/25334064171795-View-your-recovery-phrase-or-private-keys-in-Phantom