Past Announcements
The Bitcoin price demonstrated impressive market action and increased significantly in the course of the last week.
Due to this, we are postponing the conditions update that was planned for July 26th, 2021 as a measure to address the recent depreciation of cryptocurrencies and its effect on trading conditions on multi-currency accounts.
We continue watching the market, and will inform additionally when the planned conditions update may take effect.
Crypto markets are dynamic, and we have seen significant depreciation as well as appreciation of cryptocurrencies many times in the past. This provides various opportunities for traders to earn. However, it may also lead to the appearance of a significant difference in conditions between stablecoin and crypto accounts over time.
To address this, we will be updating the service conditions to make them aligned across crypto and stablecoin accounts following Bitcoin and Ethereum price changes over the past weeks.
โThe following conditions will be changed on Monday, July 26th, 2021:
The minimum BTC deposit requirement to receive the Welcome bonus will be reduced to 0.024 BTC, which will grant a 0.01 BTC tradeable reward.
Read more about the Welcome bonus.
Maximum trading bonus reward amounts for โ% of depositโ bonuses will be set to:
BTC: 1 (will not change)
ETH: 17.5 (to be reduced from 25)
USDT: 35,000 (to be reduced from 50,000)
USDC: 35,000 (to be reduced from 50,000)
If the reward on your margin trading account exceeds the new limit, the reward amount will be retained. However, new deposits to the margin account will not increase the reward. Withdrawing funds from the trading account will clear the reward, and the reward amount for consequent deposits will be capped at the new limit after the conditions update.
Read more about promocodes.
Turnover volumes required to achieve Golden and Diamond status and receive respective discounts on trade fees will be adjusted for ETH, USDT, and USDC margin trading accounts. See the table below for the new account statuses after July 26th, 2021.
Required turnover | BTC account (not changed) | ETH account (reduced) | USDT account (reduced) | USDC account (reduced) |
Golden Status (25% discount on trade fees) | 300 | 5,000 | 10,000,000 | 10,000,000 |
Diamond Status (50% discount on trade fees) | 600 | 10,000 | 20,000,000 | 20,000,000 |
If you have already achieved the 30-day turnover required for the Golden or Diamond status according to the new status levels, your margin account status will be updated automatically.
One-time and daily exchange limits for BTC and ETH will be extended. See the Currency Exchange limit table after July 26th, 2021 for details.
To align the conditions for the managers and followers in BTC and other base currencies, they will be updated for ETH, USDT, and USDC-based Strategies and Followings.
The minimum Manager's Equity to start a Strategy at the Default (0) Grade will be reduced for ETH, USDT, and USDC based strategies to align them with the conditions for BTC Strategies.
The new requirement to start a Strategy will be: 0.01 BTC / 0.175 ETH / 350 USDT / 350 USDC.
If you manage a Default (0) Grade Strategy, the restriction on the Manager's Equity withdrawals will be reduced to 0.175 ETH / 350 USDT / 350 USDC from 0.25 ETH / 500 USDT / 500 USDC upon the conditions update.
โ
Strategy requirements to upgrade and the respective IFE limits will be reduced for ETH, USDT, and USDC-based Strategies to align them with conditions for BTC Strategies.
See the Covesting Strategy Grades table below for details.
Strategy Grade | Initial Follower's Equity (IFE) cap | Manager's Equity locked |
Default ('0') | 0.2 BTC 3.5 ETH 7,000 USDT/USDC | 0.01 BTC 0.175 ETH 350 USDT/USDC |
1 | 1 BTC 17.5 ETH 35,000 USDT/USDC | 0.05 BTC 0.875 ETH 1,750 USDT/USDC |
2 | 3 BTC 52.5 ETH 105,000 USDT/USDC | 0.1 BTC 1.75 ETH 3,500 USDT/USDC |
3 | 7 BTC 122 ETH 245,000 USDT/USDC | 0.3 BTC 5.25 ETH 10,500 USDT/USDC |
4 | 15 BTC 262 ETH 525,000 USDT/USDC | 0.5 BTC 8.75 ETH 17,500 USDT/USDC |
5 | 20 BTC 350 ETH 700,000 USDT/USDC | 1 BTC 17.5 ETH 35,000 USDT/USDC |
6 | 40 BTC 700 ETH 1,400,000 USDT/USDC | 2 BTC 35 ETH 70,000 USDT/USDC |
7 | 60 BTC 1,050 ETH 2,100,000 USDT/USDC | 3 BTC 52.5 ETH 105,000 USDT/USDC |
8 | 80 BTC 1,400 ETH 2,800,000 USDT/USDC | 5 BTC 87.5 ETH 175,000 USDT/USDC |
9 | 110 BTC 1,925 ETH 3,850,000 USDT/USDC | 10 BTC 175 ETH 350,000 USDT/USDC |
10 | 230 BTC 4,025 ETH 8,050,000 USDT/USDC | 20 BTC 350 ETH 700,000 USDT/USDC |
11 | 320 BTC 5,600 ETH 11,200,000 USDT/USDC | 30 BTC 525 ETH 1,050,000 USDT/USDC |
Strategy Grades 1, 2, 3, and 4 will be re-evaluated automatically upon the conditions update on July 26th, 2021. If Manager's Equity in a Strategy satisfies a higher grade requirement according to the new conditions, the Strategy will be automatically upgraded.
โTo upgrade a Strategy to Grade 5 or higher, please contact our customer service.
Restrictions on Manager's Equity withdrawals will be reduced automatically according to the new requirements and the Grade of the Strategy if the Followers' Equity in the Strategy allows it.
โ
Progressive trade fees schedule for Strategies has been reviewed and will be updated for ETH, USDT, and USDC Strategy accounts.
See the Covesting Progressive Trade Fees table below for details:
Current Followers' Equity, BTC | Current Followers' Equity, ETH | Current Followers' Equity, USDT / USDC | Trade Fee, Crypto | Trade Fee, FX and Metals | Trade fee, Indices |
1 or less | 18 or less | 35,000 or less | 0.05% | 0.001% | 0.01% |
1 to 5 | 18 to 88 | 175,000 | 0.05% | 0.001% | 0.01% |
5 to 10 | 88 to 175 | 350,000 | 0.055% | 0.0011% | 0.011% |
10 to 15 | 175 to 263 | 525,000 | 0.061% | 0.0012% | 0.0122% |
15 to 20 | 263 to 350 | 700,000 | 0.082% | 0.0016% | 0.0164% |
20 to 40 | 350 to 700 | 1,400,000 | 0.121% | 0.0024% | 0.0242% |
40 to 60 | 700 to 1,050 | 2,100,000 | 0.192% | 0.0038% | 0.0384% |
60 to 80 | 1,050 to 1,400 | 2,800,000 | 0.29% | 0.0058% | 0.058% |
80 to 110 | 1,400 to 1,925 | 3,850,000 | 0.481% | 0.0096% | 0.0962% |
110 or more | 1,925 or more | 3,850,000 or more | 0.65% | 0.013% | 0.13% |
โ
The requirements to receive some achievement stars on the Strategy rating list have been reviewed and will be reduced for ETH, USDT, and USDC-based Strategies.
Refer to the table below for the new requirements for rating stars.
Condition to Receive a Star | BTC Strategies (not changed) | ETH Strategies (reduced) | USDT Strategies (reduced) | USDC Strategies (reduced) |
Manager's Equity โญ | 0.5 BTC | 8.75 ETH | 17,500 USDT | 17,500 USDC |
Turnover over the past 30 days โญ | 50 BTC | 875 ETH | 1,750,000 USDT | 1,750,000 USDC |
โ
The requirements for a Following to receive an increased profit distribution share will be reduced for ETH, USDT, and USDC followings.
See the default Profit Distribution (Offer) below for detail.
Amount from, BTC (not changed) | Amount from, ETH (reduced) | Amount from, USDT (reduced) | Amount from, USDC (reduced) | Follower | Platform | Manager |
0.001 | 0.0175 | 35 | 35 | 60% | 20% | 20% |
0.02 | 0.35 | 700 | 700 | 65% | 15% | 20% |
0.05 | 0.875 | 1,750 | 1,750 | 70% | 10% | 20% |
0.1 | 1.75 | 3,500 | 3,500 | 75% | 5% | 20% |
Profit distribution % can be further increased in favor of the Follower by activating a membership plan via COV Token Staking.
The new profit distribution Offer will apply only to Followings which are started after the update. Any Followings started before the update will be subject to the previous Profit Share conditions.
โ
Individual limits on Initial Following Equity have been reviewed for followings in ETH, USDT, and USDC. The limit for followings in BTC will not change.
A Follower will be able to allocate up to 1.75 ETH, 3,500 USDT or 3,500 USDC of initial capital to any separate Strategy. The limit can be further extended by activating a membership plan via COV Token Staking.
Read more about Individual limit on following a strategy.
We are happy to announce another great update that is aimed at making PrimeXBT even more convenient and transparent for our users.
Weโre introducing a cryptocurrency exchange service - now you can convert your wallet balance between BTC, ETH, USDT, and USDC with just a few clicks.
The in-wallet conversion service will help you to save on transfer fees and time, which would otherwise be spent on withdrawing funds to an external service for exchange. Also, this allows you to gain instant access to multi-currency Covesting Strategies as a Follower, open your own Strategy or trade on a private margin Trading account using a collateral currency that is most convenient for you.
โConvert cryptocurrencies in-wallet.
The Wallet transaction history report has been greatly improved, now providing even more Trading history info and Transfer history info with additional filtering options.
Sort, filter, and view operations that youโre interested in - for example, only referral payouts or managerโs success fee commissions - or view your entire wallet transfer history with detailed comments for each transfer/transaction
View transfers in your Account.
With this update, we reduce the entry barrier for opening Covesting Strategies and introduce All-time charts:
If you had ever considered opening your own Covesting Strategy, but hesitated to commit the minimum required capital of $2,500 just to try it out โ hesitate no longer! We are introducing a new initial (default) Strategy grade.
From now on, starting a new Strategy will require Managers to lock only $500 of Managerโs equity at the initial Grade โ this is 5 times less than the previous minimum requirement!
This new initial Grade will also cap the Initial Followersโ Equity at a lower amount of $10,000 to keep the reasonable risk management approach towards newly created strategies.
This update aims to reduce the entry barrier for Covesting managers, and lets them try their trading Strategies publicly without risking significant amounts of personal and Followers capital, and build their track record before committing more funds to upgrading the Strategy and increasing the Followersโ cap.
Check the newly available Strategy grade.
As the Covesting module on PrimeXBT continues to gain more popularity, we are going to see an increasing number of established Strategies which have been open for more than a year.
All-time Strategy performance charts have just been released as an update to the Covesting module, in addition to 24 hours, 30 days, and Year-to-Date views.
โFind your favourite Strategies and check their all-time performance with the updated charts!
At PrimeXBT we always listen to your feedback and strive to deliver what you ask for in the way most convenient for you, and provide new opportunities to earn with the platform while keeping the safety of your funds in mind.
Following up on the most frequent requests, we are tuning up the Covesting conditions for an improved experience.
From now on, if a Strategy has sufficient Managerโs Equity for an upgrade to Grades 1, 2 or 3, the Strategy will be upgraded automatically, with its Followersโ Equity cap being increased accordingly.
Both Managers and Followers will benefit from this improvement:
Managers will not need to request and wait for a manual upgrade of their Strategy before allowing more Followers to join.
Followers will enjoy an extended Followersโ Equity cap of their favourite Strategies. Other successful Strategies will also be available to them to diversify the portfolio, reduce risks and maximise earning opportunities with copy-trading.
Learn more about automatic Strategy upgrades.
Weโre making it easier for a Manager to upgrade past Grade 1 by closing the gap and lowering the required Managerโs Equity for Grade 2. A Strategy may be upgraded and open to additional Followings as soon as the Managerโs Equity reaches 0.3 BTC / 7.5 ETH / 15,000 USDT / 15,000 USDC.
Check the newly available Strategy grades.
Larger Followersโ Equity used to mean higher costs for a Manager because of the progressive trade fees.
Now your choice between lower fees or higher Followersโ Equity is a no-brainer: progressive trade fees have been reduced significantly.
Lower fees mean higher profits for Managers as well as their Followers. If you manage a Strategy, make sure to check it out.
We hope you enjoy your Covesting experience. Stay tuned for more new features and exciting updates ahead!
Based on the feedback we received from Covesting users and community, and in order to improve clients' experience while keeping in mind risk management considerations, we are introducing the following adjustments to the Covesting module:
Due to the influx of new users and growing popularity of the Covesting module, we are increasing Initial Followersโ Equity caps across all Strategy grades above Grade 1: a change that is beneficial both for Managers and Followers.
Please, read this Help article to learn about new Initial Followersโ Equity caps.
In order to enable higher Followersโ Equity caps and reflect the price slippage resulting from execution of large orders at our liquidity-providing counter-parties, progressive trade fees have been introduced for Covesting Strategy accounts.
For detailed information about progressive trade fees on Covesting, please refer to this Help article.
The Individual Limit is intended to reduce exposure of Covesting users to specific Strategies, thus minimizing overall risks by diversifying their Portfolio. At the same time, it opens an opportunity for more Followers to join successful Strategies and benefit from their performance, by preventing such Strategies from being completely occupied by a few large Followers leaving no room for other Covesting users to join.
Please read this Help article to learn more about individual limit on followings.
A Manager may withdraw extra Equity from their Strategy account and use it at their discretion. However, if there were open positions in the Strategy, such a withdrawal would decrease available margin and increase positionsโ leverage. To protect Followers from the risks of leverage increasing in the absence of a Manager's trading activity, all positions must be closed before withdrawing Equity.
To learn more about withdrawing of funds from a Strategy and the restrictions, please read this Help article.
We thank you for your interest in PrimeXBT Covesting module. We hope that the changes that we introduced will make it even more attractive to both Followers and Managers alike.
In order to reduce elevated risk of loss of Followersโ Equity associated with high leverage available to Strategy Managers during periods of extreme volatility on crypto markets and protect Followers, PrimeXBT will be adjusting margin requirements for the following instruments on Covesting: BTC/USD, ETH/USD, ETH/BTC, LTC/USD, LTC/BTC, EOS/USD, EOS/BTC.
The new requirements will come into effect on Wednesday, February 24th, 2021 at 15:00 UTC.
For the updated margin requirements for Crypto instruments on Covesting Strategy accounts please refer to the table below.
Please note that if you have open positions when the new requirements take effect and the margin becomes insufficient according to them, the positions may be liquidated
Take this into account and ensure your Covesting Strategy account has sufficient margin when the new requirements take effect: deposit more funds to the account or reduce market exposure by partially closing positions to avoid position liquidation due to insufficient margin.
For more information about current margin requirements please visit Fees and Conditions schedule.โ
BTC/USD:
From | To | Margin required | Leverage |
0 | 5 | 2% | 1:50 |
5 | 20 | 5% | 1:20 |
20 | 30 | 10% | 1:10 |
30 | > | 50% | 1:2 |
ETH/USD, ETH/BTC:
From | To | Margin required | Leverage |
0 | 20 | 2% | 1:50 |
20 | 50 | 5% | 1:20 |
50 | 100 | 10% | 1:10 |
100 | > | 20% | 1:5 |
LTC/USD, LTC/BTC:
From | To | Margin required | Leverage |
0 | 50 | 2% | 1:50 |
50 | 100 | 25% | 1:4 |
100 | > | 50% | 1:2 |
EOS/USD, EOS/BTC:
From | To | Margin required | Leverage |
0 | 200 | 2% | 1:50 |
200 | 1,000 | 25% | 1:4 |
1,000 | > | 50% | 1:2 |
Following significant events surrounding Ripple, as well as delisting of the asset across our multiple liquidity providers, PrimeXBT will remove and cease trading of the following trading pairs on Wednesday, February 10th, 2021 at 15:00 (UTC):
XRP/USD, XRP/BTC
Please note that prior to their removal, the XRP pairs will be transferred to โreduce onlyโ status on Friday, February 5th, 2021 at 15:00 (UTC):
Orders to open new positions in XRP/USD and XRP/BTC will no longer be accepted after 15:00 (UTC) on February 5th, 2021;
Orders to reduce or close positions in XRP/USD and XRP/BTC will be accepted and filled until 15:00 (UTC) on February 10th, 2021.
On February 10th, 2021 at 15:00 (UTC) any remaining open positions in XRP/USD and XRP/BTC will be force closed.
Please take this into account and plan your trading accordingly.
Users can continue to trade all other assets offered by PrimeXBT: the most liquid cryptos, 50+ Forex trading pairs, major indices and commodities.
Thank you for your support!
Due to significant appreciation of Bitcoin and the crypto currencies, the recent extreme market volatility, and in order to protect traders from elevated risks associated with high leverage on volatile markets, PrimeXBT will be adjusting margin requirements for the following instruments: BTC/USD, ETH/USD, ETH/BTC, LTC/USD, LTC/BTC, EOS/USD, EOS/BTC.
The new requirements will come into effect on Thursday, January 12th, 2021 at 20:00 UTC.
For the updated margin requirements for Crypto instruments please refer to the table below.
Please note that if you have open positions when the new requirements take effect and the margin becomes insufficient according to them, the positions may be liquidated
Take this into account and ensure your margin Trading or Covesting Strategy account has sufficient margin when the new margin requirements take effect: deposit more funds to the account or reduce market exposure by partially closing positions to avoid position liquidation due to insufficient margin.
For more information about current margin requirements please visit Fees and Conditions schedule.โ
BTC/USD:
From | To | Margin required | Leverage |
0 | 20 | 1% | 1:100 |
20 | 30 | 2% | 1:50 |
30 | 40 | 5% | 1:20 |
40 | 50 | 10% | 1:10 |
50 | > | 20% | 1:5 |
ETH/USD, ETH/BTC:
From | To | Margin required | Leverage |
0 | 10 | 1% | 1:100 |
10 | 50 | 2% | 1:50 |
50 | 100 | 5% | 1:20 |
100 | 150 | 10% | 1:10 |
150 | 200 | 20% | 1:5 |
200 | > | 30% | 1:3โ |
LTC/USD, LTC/BTC:
From | To | Margin required | Leverage |
0 | 100 | 2% | 1:50 |
100 | 200 | 25% | 1:4 |
200 | > | 50% | 1:2 |
EOS/USD, EOS/BTC:
From | To | Margin required | Leverage |
0 | 500 | 2% | 1:50 |
500 | 2,500 | 25% | 1:4 |
2,500 | > | 50% | 1:2 |
BTC/USD:
From | To | Margin required | Leverage |
0 | 30 | 2% | 1:50 |
30 | 40 | 5% | 1:20 |
40 | 50 | 10% | 1:10 |
50 | > | 20% | 1:5 |
ETH/USD, ETH/BTC:
From | To | Margin required | Leverage |
0 | 50 | 2% | 1:50 |
50 | 100 | 5% | 1:20 |
100 | 150 | 10% | 1:10 |
150 | 200 | 20% | 1:5 |
200 | > | 30% | 1:3โ |
EOS/USD, EOS/BTC:
From | To | Margin required | Leverage |
0 | 500 | 2% | 1:50 |
500 | 2,500 | 25% | 1:4 |
2,500 | > | 50% | 1:2 |
โ
Due to recent extreme market volatility and in order to protect traders from excessive leverage and associated elevated risks, we will be adjusting margin requirements for the following instruments: BTC/USD, ETH/USD, ETH/BTC, LTC/USD, LTC/BTC, EOS/USD, EOS/BTC, XRP/USD, XRP/BTC.
The new requirements will come into effect on Thursday, November 26th, 2020 at 20:00 UTC. Please refer to the table below for the updated margin requirements for Crypto instruments.
Please take this into account and ensure your margin Trading or Covesting Strategy account has sufficient margin when the new margin requirements take effect: deposit more funds to the account or reduce market exposure by partially closing positions to avoid position liquidation due to insufficient margin.
For more information about current margin requirements please visit Fees and Conditions schedule.โ
XRP/USD, XRP/BTC:
From | To | Margin required | Leverage |
0 | 10,000 | 1% | 1:100 |
10,000 | 30,000 | 25% | 1:4 |
30,000 | > | 50% | 1:2 |
LTC/USD, LTC/BTC:
From | To | Margin required | Leverage |
0 | 100 | 1% | 1:100 |
100 | 200 | 25% | 1:4 |
200 | > | 50% | 1:2 |
EOS/USD, EOS/BTC:
From | To | Margin required | Leverage |
0 | 500 | 1% | 1:100 |
500 | 5,000 | 25% | 1:4 |
5,000 | > | 50% | 1:2 |
BTC/USD:
From | To | Margin required | Leverage |
0 | 50 | 1% | 1:100 |
50 | 200 | 5% | 1:20 |
200 | > | 10% | 1:10 |
ETH/USD, ETH/BTC:
From | To | Margin required | Leverage |
0 | 100 | 1% | 1:100 |
100 | 500 | 10% | 1:10 |
500 | > | 25% | 1:4 |
XRP/USD, XRP/BTC:
From | To | Margin required | Leverage |
0 | 10,000 | 2% | 1:50 |
10,000 | 30,000 | 25% | 1:4 |
30,000 | > | 50% | 1:2 |
LTC/USD, LTC/BTC:
From | To | Margin required | Leverage |
0 | 100 | 2% | 1:50 |
100 | 200 | 25% | 1:4 |
200 | > | 50% | 1:2 |
EOS/USD, EOS/BTC:
From | To | Margin required | Leverage |
0 | 500 | 2% | 1:50 |
500 | 5,000 | 25% | 1:4 |
5,000 | > | 50% | 1:2 |
BTC/USD:
From | To | Margin required | Leverage |
0 | 50 | 2% | 1:50 |
50 | 200 | 5% | 1:20 |
200 | > | 10% | 1:10 |
ETH/USD, ETH/BTC:
From | To | Margin required | Leverage |
0 | 100 | 2% | 1:50 |
100 | 500 | 10% | 1:10 |
500 | > | 25% | 1:4 |