PrimeXBT platform interface consists of 5 main sections:
Main - make deposits, withdrawals, change account settings and keep track of your account’s activity and statistics. Quick access Margin, and Covesting sections;Margin- manage your margin account, monitor the market, place trades and control your orders and positions;Copy-trading - Covesting Strategy management and Followings;Yield - Covesting Yield accounts;
Analysis- charts by TradingView for technical analysis
Let's take a separate look at the Covesting Copy-trading Strategy management and Followingsection.
Covesting (main section)
Covesting allows traders to set up and manage a Strategy - a pool of their own assets which is visible to the public and can be Followed by others. This provides an excellent opportunity for both experienced successful Traders and Followers to greatly boost each other’s profit potential.
The creator of a Strategy is known as a Strategy manager, while those who follow a Strategy are Followers. Upon creation, a Strategy becomes visible to the public and available for following:
- Strategy Manager controls trading activity of the Strategies they are managing
- Followers automatically replicate the trades of the Strategy they are following
Creating a Strategy allows Strategy managers to receive a percentage of all profits made by their Followers, while allowing Followers to make passive profit without having to personally trade on the market, thus maximizing profit potential for both parties.
The Covesting module consists of 4 sub-sections:
The ‘Rating’ page reflects the current ratings and core statistics of all Public Strategies. Here you can review any Strategy you wish to Follow and filter Strategies by desired stats, such as Profit indicators, Followers’ Equity, Name etc.
To filter Strategies by various indicators, such as Profit%, Name, Currency etc., or if you are unable to find a particular strategy, use the Filter settings at the top of the 'Rating' page:
If you do not see any Strategies in the Rating list try clicking the filter 'Reset' button in the top right corner of the filters bar to reset your filter parameters.
The 'Portfolio' sub-section reflects your Followings’ statistics and allows you to manage your Followings and Review Followings' history:
Followings: manage your active Followings and review their core stats
Following history: review history of your closed Followings and their core stats
‘My Strategies’ reflects core statistics of your active Strategies as well as your closed Strategies’ History:
Strategies: a list of all of your active Strategies. Here you can open new strategies, review active Strategies’ core statistics and navigate directly to the Trade terminal to trade with a selected Strategy
Strategy history: a list of your closed Strategies and their core stats
The ‘COV Token’ page allows Covesting Strategy managers and Followers to deposit/withdraw COV tokens and activate Utility for their Strategies or Followings and reflects COV token details.
Each separate currency can be used only in Margin trading accounts, Strategies and Followings denominated in the SAME currency. For example, BTC can be used in Strategies denominated only in BTC, while ETH can be used in Strategies denominated only in ETH.
If you wish to start a Strategy or Following in a particular currency, make sure to deposit the same currency.
Alternatively, using our in-wallet Currency Exchange feature allows you to exchange BTC, ETH, USDT and USDC amongst each other, directly between your PrimeXBT account Wallets.