Trading in 2020 is no longer a rudimentary process of setting up an account on a basic trading platform, and then buying an asset and waiting to sell it at some later point.
With the growth in the number of people involved in trading around the world, and the growth of the number of platforms that are available online in order to trade, today there are newer, better ways to engage with global financial markets.
One such method has been introduced by the world's leading multi-asset margin trading platform, PrimeXBT, is a new module developed in partnership with Covesting.
What is PrimeXBT’s Covesting Module Beta?
PrimeXBT’s Covesting Module Beta allows traders to work together in order to maximize their collective profit.
This is achieved by novice traders being able to use the knowledge of experienced traders in order to profit from strategies that they would not normally have access to, but that will increase the likelihood of generating profit on their investment.
In return for providing the support and advice, experienced traders are able to increase the profitability of the trades that they are already making by taking the investment of novice traders combining it with their own trade, and then taking a fee for any profit they generate on behalf of the novice traders.
PrimeXBT’s Covesting Module Beta achieves this synergy by allowing experienced traders to create peer-to-peer investment management funds on the platform.
How to Use PrimeXBT’s Covesting Module Beta?
In order to use the platform, traders can go to the PrimeXBT website and sign up for account if they don’t already have one, and then once inside the dashboard area can go to the top bar and select Covesting link.
Once the Covesting link has been selected, on the next page traders can select to create a investment fund, and once the management fund has been created it will then be added to the list of all the Covesting Module investment funds.
From here traders are able to begin trading using the fund and the results will be publicly displayed in order for investors to see the performance of the strategies in order to consider investing.
What’s in Upcoming Releases?
The Covesting Module is being released in beta form, which means that currently the functionality for traders to create funds is available and the ability for fund owners to trade and publicly display the trading history is also available.
What will be released in upcoming versions will be the ability for other traders to invest into each fund, however in between now and then, fund owners will be able to build up the reputation and prove that they are profitable by trading in the meantime and then having that displayed publicly for potential investors to see.
In Conclusion: The Most Profitable Way to Social Trade Online
PrimeXBT’s Covesting Module Beta is revolutionary and introduces a form of social trading that maximizes potential for profiting between all parties involved.
While the current release is simply the first beta for this module, it is exciting to consider that in the not too far in the distant future that anyone will be able to come to PrimeXBT and invest into provably profitable funds and to share profit in a way that has never been possible previously.
If you’d like to know more about PrimeXBT in general, or specifically about PrimeXBT’s Covesting Module Beta check out https://primexbt.com/covesting