Past Announcements

Conditions Update on July 26th, 2021 Has Been Postponed

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.

Conditions Update on July 26th, 2021 Due To Cryptocurrencies Price Changes

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.

The following conditions will be changed on Monday, July 26th, 2021:

Welcome bonus for BTC margin trading

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.

Tradeable bonus reward limits

Maximum trading bonus reward amounts for ‘% of deposit’ 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.

Margin Account status level (turnover-based trade fee discounts)

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.

Currency Exchange Limits

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.

Covesting Conditions

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.

🏁 Minimum Manager's Equity to Start a Strategy:

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.

🏆 Strategy Grades:

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.

To 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.

📈 Progressive Trade Fees:

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%

⭐ Strategy Achievements (Stars):

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 ⭐

0.5 BTC

8.75 ETH

17,500 USDT

17,500 USDC

Turnover over the past 30 days ⭐

50 BTC

875 ETH

1,750,000 USDT

1,750,000 USDC

🍰 Profit Share (Offer):

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.

⚖️ Individual Limits on Following a Strategy:

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.

PrimeXBT Platform Update on June 17th, 2021

We are happy to announce another great update that is aimed at making PrimeXBT even more convenient and transparent for our users.

💱 Exchange Currencies Directly in Your PrimeXBT Wallet

We’re 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.

Convert cryptocurrencies in-wallet.

👛 Enhanced and Detailed Wallet History

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 you’re interested in - for example, only referral payouts or manager’s success fee commissions - or view your entire wallet transfer history with detailed comments for each transfer/transaction

View transfers in your Account.

Covesting Update on June 11th, 2021

With this update, we reduce the entry barrier for opening Covesting Strategies and introduce All-time charts:

🚧 ⬇️ Reducing the Barrier for Opening a Strategy

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 — 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 Manager’s equity at the initial Grade — this is 5 times less than the previous minimum requirement!

This new initial Grade will also cap the Initial Followers’ 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 Followers’ cap.

Check the newly available Strategy grade.

📊 Introducing All-time Strategy charts

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.

Find your favourite Strategies and check their all-time performance with the updated charts!

Covesting Conditions Update on April 20th, 2021

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.

🏆 Automatic upgrade of Strategies to Grades 1, 2 and 3

From now on, if a Strategy has sufficient Manager’s Equity for an upgrade to Grades 1, 2 or 3, the Strategy will be upgraded automatically, with its Followers’ 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 Followers’ 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.

⚖️ New Fine-tuned Grades

We’re making it easier for a Manager to upgrade past Grade 1 by closing the gap and lowering the required Manager’s Equity for Grade 2. A Strategy may be upgraded and open to additional Followings as soon as the Manager’s Equity reaches 0.3 BTC / 7.5 ETH / 15,000 USDT / 15,000 USDC.

Check the newly available Strategy grades.

⬇️ Reduced Progressive Trade Fees

Larger Followers’ Equity used to mean higher costs for a Manager because of the progressive trade fees.

Now your choice between lower fees or higher Followers’ 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!

Covesting Module Updates on February 18th, 2021

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:

1. Increased Initial Followers’ Equity Cap

Due to the influx of new users and growing popularity of the Covesting module, we are increasing Initial Followers’ 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 Followers’ Equity caps.

2. Progressive Trade Fees

In order to enable higher Followers’ 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.

3. Individual Limits on a Strategy Followings

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.

4. Restriction on Margin Withdrawing

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 positions’ 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.

Margin Requirements for Covesting Strategy Accounts to be updated on February 24th, 2021

In order to reduce elevated risk of loss of Followers’ 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.

New margin requirements for Covesting Strategy accounts:

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

Trading pair removal notice: XRP will be delisted on February 10th, 2021

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 ‘reduce only’ 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!

Margin Requirements for Crypto pairs to be updated on January 12th, 2021

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.

New margin requirements for regular Trading accounts:

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%

1:3⅓

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

New margin requirements for Covesting Strategy accounts:

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%

1:3⅓

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

Margin Requirements for Crypto pairs to be updated on November 26th, 2020

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.

New margin requirements for regular Trading accounts:

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

New margin requirements for Covesting Strategy accounts:

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

Contents
Conditions Update on July 26th, 2021 Has Been Postponed
Conditions Update on July 26th, 2021 Due To Cryptocurrencies Price Changes
Welcome bonus for BTC margin trading
Tradeable bonus reward limits
Margin Account status level (turnover-based trade fee discounts)
Currency Exchange Limits
Covesting Conditions
PrimeXBT Platform Update on June 17th, 2021
💱 Exchange Currencies Directly in Your PrimeXBT Wallet
👛 Enhanced and Detailed Wallet History
Covesting Update on June 11th, 2021
🚧 ⬇️ Reducing the Barrier for Opening a Strategy
📊 Introducing All-time Strategy charts
Covesting Conditions Update on April 20th, 2021
🏆 Automatic upgrade of Strategies to Grades 1, 2 and 3
⚖️ New Fine-tuned Grades
⬇️ Reduced Progressive Trade Fees
Covesting Module Updates on February 18th, 2021
1. Increased Initial Followers’ Equity Cap
2. Progressive Trade Fees
3. Individual Limits on a Strategy Followings
4. Restriction on Margin Withdrawing
Margin Requirements for Covesting Strategy Accounts to be updated on February 24th, 2021
New margin requirements for Covesting Strategy accounts:
Trading pair removal notice: XRP will be delisted on February 10th, 2021
Margin Requirements for Crypto pairs to be updated on January 12th, 2021
New margin requirements for regular Trading accounts:
New margin requirements for Covesting Strategy accounts:
Margin Requirements for Crypto pairs to be updated on November 26th, 2020
New margin requirements for regular Trading accounts:
New margin requirements for Covesting Strategy accounts: