PrimeXBT — an award-winning, multi-asset, Bitcoin-based trading platform — has announced several important updates to its Covesting copy trading module, improving overall user experience and risk management in response to the growing demand for copy trading.

PrimeXBT responds to demand, rapid Covesting growth with increases in initial followers’ equity cap

PrimeXBT has announced an increase to the initial followers’ equity cap across all strategy grades due to the large influx of new users and rapidly growing popularity of the Covesting module. 

The initial followers’ equity cap was first introduced to reduce risks associated with market volatility, limit possible losses in strategies whose managers do not implement proper risk and money management, and encourage users to diversify their portfolios and risks.

The increase to the initial followers’ equity cap still ensures a high level of risk management imposed by the Covesting module but allows for more significant opportunity and flexibility in copy trading. The move to increase this limitation was also made in response to growing demand from the Covesting user community. 

PrimeXBT debuts three new updates to enhance risk management

In addition, PrimeXBT has also announced three other recent updates designed to further protect users against risk and enhance the powerful and streamlined trading experience. The new updates include progressive trading fees, an individual limit on strategy followings and an improved offer on following conditions in favor of followers. 

With the new progressive trading fees, PrimeXBT absorbs the risks of varying liquidity through price spread, slippage and transfers into fixed trade fees on Covesting.

Individual limits are now in place to allow for better diversification and ensure that a select few followers do not take up the most successful strategies. 

Finally, PrimeXBT has improved the offer for following strategies on Covesting. Followers now receive a larger profit share for following strategies, directly improving profitability and encouraging increased activity on the Covesting copy trading module.

PrimeXBT’s Covesting module continues to pick up steam as users take advantage of the copy trading platform’s opportunities and its benefits. Covesting allows users to follow successful traders and share in their success depending on how much money they put on the line. 

About PrimeXBT

PrimeXBT is a fintech company established in 2018 that offers a cryptocurrency, foreign exchange, indexes and commodity trading infrastructure with long and short positions, aggregated liquidity from multiple liquidity providers, and more. The company provides access to real-time market data and a wide range of trading analysis tools while maintaining security, liquidity and enabling a safe and efficient trading environment for everyone.

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