Last month, PrimeXBT announced it will be partnering with Covesting to bring its proprietary technology to the bitcoin-based margin trading platform. This week PrimeXBT has released the first sneak peek with some imagery of the product to give traders an idea of what they have to look forward to.
Covesting’s module is designed to be mutually beneficial for novice and professional traders by increasing both of their potentials to profit. For instance, a complete beginner has the opportunity to autonomously mimic the moves of an expert trader with vast experience, and professional traders can augment their earnings by simply allowing others to copy them.
This new Covesting module will come complimentarily and in conjunction with the highest leveraging possibilities across all of PrimeXBT’s available assets in crypto, forex, commodities, and stock indices.
These assets and leveraging allowances include:
Top 5 Crypto Assets – with up to 100x Leverage: Bitcoin, Ethereum, Litecoin, Ripple, and EOS.
18 Forex Currency Pairs – with up to 1,000x Leverage: USD, AUD, CAD, GBP, EUR, JPY, and CHF pair combinations.
7 Stock Indices – with up to 100x Leverage: US Tech 100, US SPX500, Germany 30, Hong Kong 50, Australia 200, Japan 225, & UK 100.
4 Commodities – with up to 100x Leverage: UK Brent Oil, US Crude Oil, & US Natural Gas.
2 Spot Metals – with up to 500x Leverage: Silver, Gold.
When the Covesting module goes live on PrimeXBT, a new ‘Covesting’ tab will be added to the platform’s dashboard. This tab will act as the gateway for users to gain access to the copy-trading feature so they can research funds created by professionals, view their ratings, and positions. Here they have the opportunity to select and join their funds and start copying their expert strategies.
Likewise, professional traders can create their own funds to make their past and current positions public, thus allowing other traders the option to follow them. By doing so, they earn a commission from each of the traders’ profits who copied them to further compound the profitability of their positions.
What’s more, the Covesting module is certainly not limited to beginner traders, it is an incredibly valuable tool for traders of all skill levels who simply don’t have the time to sit in front of a computer all day and are happy to kick back let an expert do the hard work for them.
In the preview below from the recently published sneak peek, you can see a number of pro traders’ funds listed with a rating out of five-stars, alongside current positions and investment history of each fund.
Upon selecting a fund of interest, you can view their detailed statistics with important trading metrics such as total profit, daily profit, time active, performance, equity, etc.
Furthermore, the ‘create fund’ section is where traders can open their own portfolio for other traders to copy.
Already, PrimeXBT users benefit from favorable trading conditions with low fees, tight spreads, fast and reliable order execution, and high liquidity – pooled from 12 different exchanges. The addition of the Covesting module will further empower PrimeXBT traders by presenting a number of new and exciting avenues to significantly increase their profit potential.