PrimeXBT has already done one hell of a job catering to novices with the client-focused approach and innovative alternatives like the Covesting copy trading module. Novices are well served with all the basics, including a help center and more. For example, there are several helpful and informative guides on useful tactics, like how to short bitcoin on PrimeXBT located within the official company blog. But for those that already have spent years perfecting their craft and don’t need as much guidance – the professional traders out there – there is plenty of depth and power. This guide is built from top to bottom with the goal of highlighting why PrimeXBT is the best trading platform for professionals and novices both – but in particular, why professionals will feel right at home with the diverse set of advanced trading tools.
Covesting Copy Trading For Professionals
Since we touched on how Covesting is designed to assist novices with learning the ropes and making money at the same time through copy trading, professionals shouldn’t be deterred. In fact, novices need professional traders to follow as strategy managers for the Covesting community to thrive – and thrive it has. More than 400 strategy managers are currently battling it out for the top spots in the Covesting global leaderboards. The leaderboards are fully transparent and demonstrate the risk and success metrics related to each strategy manager. Only the most skilled professionals are able to rise the ranks to the very top and gain the most visibility, followers, and trading capital. There is also a five-star rating system that focuses on extra finesse around safety like solid margin allocation or win to loss ratio. Strategy managers earn a portion of the success fees generated by followers, keeping professionals incentivized with the added income stream and boost to otherwise normal trading conditions.
Covesting even allows the upper echelon of traders to take their game as a strategy manager to the next level with COV token staking. COV token staking unlocks the power of the COV utility token – the native cryptocurrency to the Covesting ecosystem. The more COV tokens staked, strategy managers and followers alike can unlock up to three additional account membership levels, ranging from Advanced, Premium, and Elite. Strategy managers get 10%, 20%, and 30% trading fee discounts while followers also get a plethora of account level enhancements at each of the three above-standard membership levels.
Technical Analysis Tools Built Into Platform
Professional traders are known to juggle multiple monitors and it is typically because they are watching more than one price chart at once. This can be necessary for an analyst with an eye on several markets at once. Other times, traders keep at least two monitors going at any given time for the sake of having charting software on one screen, and their broker on the other. With PrimeXBT, these professional technical analysis charting tools are built directly into the PrimeXBT account dashboard for user convenience. Users no longer have to juggle multiple monitors, but if they wanted to, even that feature is still supported using PrimeXBT. The award-winning platform offers unrivaled flexibility and convenience in one. Technical analysis tools come from TradingView, so users can snapshot and share their trading strategies via social media with ease. There are also dozens of built-in technical indicators and oscillators, including the MACD, Ichimoku, Relative Strength Index, Average Directional Index, Williams Alligator, Bollinger Bands, and more. Use drawing tools to chart patterns and more with unparalleled simplicity.
Leverage, Long And Short Positions, And More
The award-winning margin trading platform offers CFDs for more than 50 different assets all under one roof, and include crypto, forex, stock indices, metals, commodities, and more. CFDs give traders access to leverage and long and short positions to get the most out of every market movement. Leverage allows traders to condense risk by amplifying capital, putting less on the line but getting more out of each trade. Long and short positions let traders milk the market for all it’s worth by profiting from both directions of the market. Predicting market movements is only one piece of the puzzle professionals pay attention to. There’s also risk management. Stop loss orders, take profit orders, and OCO orders all add to a professional trader’s arsenal and ability to keep as much profits as they’re able to make. Both long and short positions can be open all at once, so that professionals can hedge winning positions if the market appears to be reversing, and multiple markets can be traded at once for a diverse portfolio unlike offered anywhere else.
Award-Winning Trading Platform For Plenty Of Reasons
With so much already covered, there is surprisingly so much more left in store, but for the sake of keeping things brief, we’ll highlight the remaining key factors professionals should know about when considering PrimeXBT.
Safe, Secure Accounts
All accounts are protected by bank-grade security and a unique cold storage process that keeps clients funds safe. Very little customer data is requested, even during the fast signup process, so there is no risk of private data leaking. Two-factor authentication and address whitelisting are additional failsafes.
Detailed Reporting System
Professionals who trade with serious size, volume, or frequency tend to have a lot more accounting to do when the tax season rolls around. The PrimeXBT reporting system makes it easy with customizable account statements and much more.
Four-Level Referral Program
Professionals tend to have large networks of other professionals at their disposal. If they would also find value in the tools outlined here, sharing a PrimeXBT referral link can be a lucrative revenue stream. Top earners have made more than $2 million.
24/7 Customer Service
It isn’t surprising for professionals to ignore a benefit like this because it is rare a professional runs into problems with a reliable platform like PrimeXBT. On the off chance an issue arises, having a friendly customer support staff member waiting around the clock – especially when there is a lot of capital on the line – is absolutely crucial.