Covesting Frequently Asked Questions (F.A.Q.)

General Questions

What is Covesting?

The Covesting module allows traders to set up and manage a Strategy and/or Follow another trader's Strategy. A Strategy is a pool of a trader's personal funds 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.

Who is Covesting suited for?

Covesting is an excellent opportunity to earn profit for both active traders who wish to manage a Strategy as well as for anybody who wishes to earn a passive profit by following successful Strategies of other traders.

I am an experienced trader, how can I earn using Covesting?

As a trader, you can create and manage your Strategy. Others can Follow your Strategy and automatically replicate your trades on the market. You will then receive a percentage of all profits made by your followers, thus maximizing your profit potential.

I do not have the time/ experience/ desire/ patience/ opportunity to trade personally. How can I earn with Covesting?

Covesting is an excellent opportunity to make passive profit for those who are not able to or do not want to trade personally. By following desired Strategies, you automatically replicate their trades on the market, thus following the trading decisions of experienced and successful traders.

Does leverage apply when trading with a Strategy?

Yes, while managing a Strategy leverage is applied to all trading activity.

Do margin requirements and leverage differ between a Strategy trading account and Regular trading account?

Yes, leverage and margin requirements differ between a Strategy trading account and Regular trading account. Detailed information regarding Covesting Strategy leverage and margin requirements can be found here: https://primexbt.com/fees

Strategy Creation and Management questions

How can I create a Strategy?

See our Strategy Quick Start tutorial on how to create a Strategy.

What is the minimum amount of personal assets (BTC) required to create a Strategy

The minimum amount of personal funds required to create a Strategy is 0.01 BTC.

Are my Strategy trading account statistics visible to others? Which of my Strategy trading account statistics are public?

Yes, as a Strategy manager, your Strategy's trading account core statistics become visible to other traders and followers, including Total/Today's profit, Strategy equity, Performance, the amount of followers currently following your Strategy as well as the amount of days your Strategy has been active.

How do I perform trades while managing a Strategy?

Upon Strategy creation, a Strategy trading account is created. All Strategy trading activity is performed exclusively on the Covesting module 'Trade' page.

How many Strategies can I create and manage at once?

A Strategy manager can create and manage only 1 Strategy at a time.

Can I create another Strategy after closing my current Strategy?

Yes. There is no limit to the amount of consecutive Strategies that can be created.

Can I also trade privately on my regular trading account while managing a Strategy trading account?

Yes. When creating a Strategy, a separate Strategy trading account is also created. This means that a trader can manage a Strategy while simultaneously privately trading with his personal trading account.

Do profit share success fees apply to my personal Equity invested in my Strategy?

No. Profit share success fees apply only to Equity from Strategy Followings.

If a follower cancels their Following, will my Strategy's margin be affected?

No. Your Strategy's margin is not affected by Followings.

How is a Strategy's 'Today's Profit%' calculated?

The 'Today's Profit %' indicator reflects the profit of a Strategy since 00:00 UTC of the current day.

Followings Creation and Management

How can I begin Following?

See our Following Quick Start tutorial on how to begin Following a Strategy.

What is the minimum amount of personal assets (BTC) required to Follow a Strategy?

The minimum amount of personal funds required to Follow a Strategy is 0.001 BTC.

Can I have multiple Followings?

Yes. Followers can have multiple Followings in multiple Strategies at once.

Where does profit from my closed Followings go?

Profit/loss settlements for Followings occur ONLY once the Following is stopped or the followed Strategy is closed and are transferred to your account Wallet.

My Following and the corresponding Strategy are showing a different 'Today's Profit %'. How can this be?

If a Following was initiated AFTER the beginning of the current day, the 'Today's Profit %' indicator of a Following may differ. This is due to the fact that a Following is not affected by Strategy trading activity prior to the Following's creation.

Do multiple Followings in one Strategy increase my profit share % (offer)?

No. Equity of each Following is separate from other Followings.. This means that profit share % will be calculated separately for each Following.

Can I allocate more funds into my active Following(s)?

No. However you can simply create another Following in the desired Strategy from that Strategy's main page.

Questions about conditional bonuses and discounts

When creating a Strategy, do I retain any bonuses/rewards/discounts on my regular trading account?

Yes. Creating a Strategy also creates a separate Strategy trading account, thus regular trading accounts are not affected.

Do bonuses/rewards/discounts on my regular trading account also apply to my Strategy

No. Any bonuses/rewards/discounts active on your personal trading account will not be applied to a Strategy.

Can I apply promo codes to my Strategy?

Promo codes cannot be applied to a Strategy trading account

Will my account status fee discount (based on turnover) be applied to my Strategy trading account?

Account status turnover based fee discounts do not apply to a Strategy trading account.

Contents
General Questions
What is Covesting?
Who is Covesting suited for?
I am an experienced trader, how can I earn using Covesting?
I do not have the time/ experience/ desire/ patience/ opportunity to trade personally. How can I earn with Covesting?
Does leverage apply when trading with a Strategy?
Do margin requirements and leverage differ between a Strategy trading account and Regular trading account?
Strategy Creation and Management questions
How can I create a Strategy?
What is the minimum amount of personal assets (BTC) required to create a Strategy
Are my Strategy trading account statistics visible to others? Which of my Strategy trading account statistics are public?
How do I perform trades while managing a Strategy?
How many Strategies can I create and manage at once?
Can I create another Strategy after closing my current Strategy?
Can I also trade privately on my regular trading account while managing a Strategy trading account?
Do profit share success fees apply to my personal Equity invested in my Strategy?
If a follower cancels their Following, will my Strategy's margin be affected?
How is a Strategy's 'Today's Profit%' calculated?
Followings Creation and Management
How can I begin Following?
What is the minimum amount of personal assets (BTC) required to Follow a Strategy?
Can I have multiple Followings?
Where does profit from my closed Followings go?
My Following and the corresponding Strategy are showing a different 'Today's Profit %'. How can this be?
Do multiple Followings in one Strategy increase my profit share % (offer)?
Can I allocate more funds into my active Following(s)?
Questions about conditional bonuses and discounts
When creating a Strategy, do I retain any bonuses/rewards/discounts on my regular trading account?
Do bonuses/rewards/discounts on my regular trading account also apply to my Strategy
Can I apply promo codes to my Strategy?
Will my account status fee discount (based on turnover) be applied to my Strategy trading account?