Past Announcements

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