Check Out The All-New Covesting Strategy Manager Conditions At PrimeXBT

October 31, 2022
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Check Out The All-New Covesting Strategy Manager Conditions At PrimeXBT - blog 31 10

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: 

0.01 BTC

0.14 ETH

1000 COV

200 USDT

200 USDC

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:

0.1 BTC

1.4 ETH

10,000 COV

2000 USDT

2000 USDC

Trading turnover has also been altered to reflect recent market fluctuations. Trading turnover necessary to achieve another one star is now: 

10 BTC

140 ETH

1,000,000 COV

200,000 USDT

200,000 USDC

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.

Risk Disclaimer
Investing in or trading gold or other metals can be risky and lead to a complete loss of capital. This guide should not be considered investment advice, and investing in gold CFDs is done at your own risk.
The information provided does not constitute, in any way, a solicitation or inducement to buy or sell cryptocurrencies, derivatives, foreign exchange products, CFDs, securities, and similar products. Comments and analysis reflect the views of different external and internal analysts at any given time and are subject to change at any time. Moreover, they can not constitute a commitment or guarantee on the part of PrimeXBT. The recipient acknowledges and agrees that by their very nature any investment in a financial instrument is of a random nature and therefore any such investment constitutes a risky investment for which the recipient is solely responsible. It is specified that the past performance of a financial product does not prejudge in any way their future performance. The foreign exchange market and derivatives such as CFDs (Contracts for Difference), Non-Deliverable Bitcoin Settled Products and Short-Term Bitcoin Settled Contracts involve a high degree of risk. They require a good level of financial knowledge and experience. PrimeXBT recommends the consultation of a financial professional who would have a perfect knowledge of the financial and patrimonial situation of the recipient of this message and would be able to verify that the financial products mentioned are adapted to the said situation and the financial objectives pursued.

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