During May, PrimeXBT declared it will be teaming up with Covesting to bring its proprietary technology to the bitcoin-based margin trading platform. This week PrimeXBT has published the first sneak peek with some imagery of the product to offer traders an idea of what they have to look forward to.
Covesting’s module is created to be mutually beneficial for newbie and professional traders by increasing both of their potentials to profit. As an example, an absolute beginner has the chance to autonomously mimic the moves of a professional trader with extensive experience, and professional traders can supplement their earnings by basically allowing others to copy them.
This new Covesting module will come complimentary and in conjunction with the highest possible leveraging possibilities across all of PrimeXBT’s available assets in crypto, forex, commodities, as well as 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.
As soon as the Covesting module goes live on PrimeXBT, a new ‘Covesting’ tab will be included in the platform’s dashboard. This tab will serve as the gateway for users to gain access to the copy-trading capability so they can research funds developed by professionals, check out their ratings, and positions. Here they have the opportunity to pick and join their funds and begin copying their expert tactics.
Also, 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 mirrored 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 exceptionally useful tool for traders of all skill levels who simply don’t have the amount of time to sit in front of a computer all day and are willing 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 variety of pro traders’ funds listed with a rating out of five-stars, together with current positions and investment history of each fund.
After you select a fund that interests you, you can then check out their detailed statistics with crucial trading metrics. For example: total profit, daily profit, time active, performance, equity, etc.
Additionally, the ‘create fund’ tab is where experienced and successful traders can open up the details and activity of their own portfolio for other traders to duplicate and replicate.
Presently, PrimeXBT users enjoy beneficial trading conditions with low fees, tight spreads, fast and reliable order execution, and high liquidity– pooled from 12 assorted exchanges. The expansion of the Covesting module will even further empower PrimeXBT traders by presenting a number of new and interesting avenues to substantially increase their profit potential.
The highly anticipated feature is due to launch during the next 3-4 months. Find out more about PrimeXBT at https://PrimeXBT.com, and stay tuned for the product release date on Twitter @primexbt.
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