Over the last several months, the PrimeXBT development team has been focusing on further improving critical aspects of the Covesting copy trading module. The majority of improvements have been geared toward providing increased transparency around strategy manager performance.
Recent updates to the platform include introducing strategy manager trading history, a strategy trading asset breakdown, and a Covesting monthly top trader report. We also enabled Covesting strategy management within the PrimeXBT app.
Today’s announcement makes it even easier to become a strategy manager. We are proud to reveal that we have adjusted the threshold for creating a strategy to approximately $200 in the selected cryptocurrency collateral, as well as releasing other strategy manager condition improvements.
Strategy Manager Deposit Threshold Adjusted To $200 In BTC, ETH, USDT, USDC, & COV
The conditions for creating strategy manager accounts have been significantly improved, making the Covesting copy trading module more accessible and competitive than ever before. With a lower barrier to entry, more top traders from across the globe will be able to join.
Beginning immediately, creating a strategy only requires a deposit of approximately $200 worth of cryptocurrency equivalent. This translates to:
Creating a Covesting strategy manager account in any given currency means that any profits generated are realized in the chosen account currency. However, all PrimeXBT traders can still access any of the global markets listed on the trading platform, including crypto, stock indices, commodities, and forex.
Additional Strategy Manager Condition Improvements: Enhanced Star Rating System
The improved conditions for strategy managers don’t stop there. The PrimeXBT team regularly reviews market conditions and makes adjustments to conditions as necessary. As such, we are also rolling out new rating star requirements, making some of the ratings more achievable during the current market environment.
Moving forward, the minimum equity required to achieve one star is now:
Trading turnover has also been altered to reflect recent market fluctuations. Trading turnover necessary to achieve another one star is now:
All updated strategy manager conditions are available now within the Covesting copy trading module, exclusively at PrimeXBT. Other star ratings are unlocked by maintaining more than a 60/40 win ratio, keeping margin allocation levels lower than 60%, and for being active at least two days within a 10-day period.
Followers should also consider how the improved strategy manager conditions impact the five-star rating system within the fully transparent Covesting leaderboards. Followers must use the available rating information, insights, and trading history to pick which strategy managers to follow and automatically copy their trades.
Connect With Official PrimeXBT Channels For More Covesting And Platform Updates In The Future
PrimeXBT is committed to making the trading community more approachable and accessible for all and will deliver additional improvements and new features in the coming months and into the new year ahead.
Be sure to regularly check back here at the official PrimeXBT blog and other channels for the fastest updates and official announcements straight from the source. You can also chat with top Covesting traders in the PrimeXBT Covesting Discord server and Telegram channel.