Copy-trading Frequently Asked Questions (F.A.Q.)
Last updated
Last updated
The Copy-trading 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.
Copy-trading 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.
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.
Copy-trading 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.
Yes, while managing a Strategy leverage is applied to all trading activity.
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 on the fees page in your account here: https://primexbt.com/my/fees
The minimum amount of personal funds required to create a Strategy:
Trade fees can be reduced by activating a membership plan via COV Token staking.
The minimum amount of personal funds required to Follow a Strategy:
If the Rating list is empty this may be due to the Filter settings selected. Filter parameters can be reset by clicking the 'Reset' button in the top-right corner of the Filter bar.
You can redeem COV tokens to enable trade fee discounts on a Strategy account
See our Strategy Quick Start tutorial on how to create a Strategy.
COV denominated Strategy: 1,000 COV BTC denominated Strategy: 0.01 BTC ETH denominated Strategy: 0.14 ETH USDT denominated Strategy: 200 USDT USDC denominated Strategy: 200 USDC
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. By default the Trading History of any Strategy is public and available to all participants of the Copy-Trading module: - A Strategy reflects last 50 closed positions executed within the Strategy; - A position becomes publicly available in 10 minutes after its closure;
Upon Strategy creation, a Strategy trading account is created. All Strategy trading activity is performed exclusively on the Covesting module 'Trade' page.
A Strategy manager can create and manage Multiple strategies at once, denominated in different currencies.
Yes. There is no limit to the amount of consecutive Strategies that can be created.
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.
No. Your Strategy's margin is not affected by Followings.
The 'Today's Profit %' indicator reflects the profit of a Strategy since 00:00 UTC of the current day.
This can occur if deposits/withdrawals were made to/from the Strategy. For detailed explanations and examples of how P/L is calculated and what can lead to differences between P/L and Profit % indicators see our 'Strategy Profit indicators and how they're calculated' comprehensive guide.
A Manager's effective trade fee in a Strategy will depend on the slippage and liquidity costs of executing significant Followers’ order. Because a Followers’ copying order is executed on a different account separate from the manager’s one, the slippage cost of the Followers’ order is absorbed by PrimeXBT during its execution. For detailed information see our guide here.
See our Following Quick Start tutorial on how to begin Following a Strategy.
COV denominated Followings: 100 COV BTC denominated Followings: 0.001 BTC ETH denominated Followings: 0.025 ETH USDT denominated Followings: 50 USDT USDC denominated Followings: 50 USDC
Yes. Followers can have multiple Followings in multiple Strategies at once.
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.
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.
No. Equity of each Following is separate from other Followings. This means that profit share % will be calculated separately for each Following.
No. However you can simply create another Following in the desired Strategy from that Strategy's main page.
Success fees and entry fees for Followings can be reduced by activating a membership plan via COV Token staking.
Yes. Creating a Strategy also creates a separate Strategy trading account, thus regular trading accounts are not affected.
No. Any bonuses/rewards/discounts active on your personal trading account will not be applied to a Strategy.
Promo codes cannot be applied to a Strategy trading account
Account status turnover-based fee discounts do not apply to a Strategy trading account.
