According to the latest reports, PrimeXTB has announced that it will be releasing several significant updates for one of its unique modules. The firm has announced that the updates will be related to the Covesting copy trading module and will prove to be of very high importance to the entire company.
PrimeXTB is an award-winning platform that provides users the ability to trade in Bitcoin (BTC). Apart from Bitcoin (BTC), the platform is known for providing users with services and support with other assets as well.
The firm has announced that with the launch of updates in the copy trading module, it aims to enhance and improve the overall experience of the users.
Not just the overall experience of users, the module also plans on improving risk management. The reason behind the firm launching these updates is because of the surge in the demand in the copy trading sector.
With time, the copy trading sector has grown so vast and popular, that many crypto-investors are now moving to this field. Following the announcement, the firm has communicated that it will also be increasing the initial equity cap that the followers were previously entitled to.
The increase in the equity cap for the initial followers will be increased despite the grade they currently have. This decision has been made based on the number of new users that are joining the platform on a regular basis. The popularity of the Covesting module has been growing very fast and is constantly experiencing an upward trend.
In the first instance, the reason for increasing the equity cap for the initial followers was to deal with volatility in crypto-markets. It is not hidden from anyone that the cryptocurrency industry is extremely volatile and tends to fluctuate in a matter of seconds.
Therefore, the update was introduced in order to tackle and reduce the risks that came along with the volatility and fluctuation in the cryptocurrency markets.
In addition to volatility risk, the updates also help in limiting the possibilities of losses. The losses in these cases are a result of the poor strategies that are devised by the managers of the firms. While coming up with these strategies, the managers fail to assess the liabilities and risks linked with them.
The new updates introduced in the Covesting module also provide clear solutions for the money management-related risks. Lastly, the Covesting Module also encourages and motivates the users to introduce diversity in terms of their trading assets and risks involved with them.
The firm has admitted that increasing the equity cap for the initial followers would also give birth to a high level of risk management but it would also provide more flexibility and opportunities to the users.