The Covesting copy trading module is a one-of-a-kind community where followers and strategy managers come together in a vast leaderboard system filled with some of the best and brightest traders across the globe. These traders are attracted to the platform for numerous reasons, depending on their needs.
For example, newcomers can invest passively by becoming a follower and copying the trades of strategy managers who regularly rank with high ROI in the fully transparent global leaderboards. Meanwhile, strategy managers can make extra money by garnering more followers and, therefore, more capital behind them.
Here are the many ways pro traders can earn extra income using the Covesting copy trading module, along with steps to set up a free strategy manager account.
Follow Success With Covesting Copy Trading
Covesting copy trading is one of the key competitive advantages of the award-winning PrimeXBT margin trading platform. A strategy manager account is essentially a modified version of a standard margin account, with slightly reduced leverage and with all performance metrics tracked in the leaderboards for followers to review.
Strategy managers get access to more than 100 different trading instruments under one roof across stock indices, forex currencies, commodities, and cryptocurrencies. This means the same platform with Bitcoin and Ethereum also offers gold, oil, the Dow Jones, natural gas, and much more.
Performance is tracked because followers deserve intel on traders before putting their money behind a strategy manager. The Covesting leaderboard system provides clear information on margin allocation levels, win ratios, total equity, and much more. Using the data, followers can assess each strategy’s risk versus reward profile and make wise choices about who to follow. Followers also get stop-loss tools and a way to take profit should they want to without having to stop following the strategy.
Why Strategy Managers Should Consider Covesting
The allure for a follower is unmistakable: followers can copy the trades of strategy managers they deem more skilled than they are and not have to manage positions actively themselves. But for strategy managers, the reward is less obvious. The Covesting software instantly splits all success fees across the follower and strategy manager, and a small fee is taken to the platform. Strategy managers make a portion of every winning trade, even though it is the follower’s capital generating the profit.
The added income stream is attractive for traders who are seeking to maximize a return on their time and effort, not just their investments. Strategy managers can also improve the profit share in their favor by activating a COV token membership. Advanced, Premium, and Elite COV token memberships reduce trading fees, improve success fees, and increase the number of followings any follower can have at once.
Strategy managers are highly encouraged to leverage their skills and rank well in the fully transparent leaderboard system in order to gain more followers. Outside of the platform, users can also share their successful trades on social media or elsewhere. The more actively a strategy manager promotes their performance, the more revenue is possible. Traders with large built-in social media audiences can become incredibly lucrative. There is also a four-level referral system for added non-stop income generating.
Connect With Covesting and PrimeXBT Now
The Covesting ecosystem of products and services is available exclusively at PrimeXBT as part of a B2B partnership between the award-winning margin trading platform and a regulated European fintech software developer named Covesting. The partnership has led to additional developments, such as COV token integration and Covesting yield accounts. Covesting yield accounts generate an APY return on any idle crypto assets staked using the PrimeXBT account dashboard.
Covesting is only one corner of the full suite of tools offered by PrimeXBT. With the ability to buy crypto, learn to trade, enter weekly competitions, and much more, there is something for everyone at PrimeXBT. Activate new income streams today with Covesting copy trading and the PrimeXBT advanced trading platform.