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PrimeXBT Copy Traders Beat The Market With Over 300% Growth In June

Cryptocurrency Jul 29, 2022 10:30AM ET
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© REUTERS PrimeXBT Copy Traders Beat The Market With Over 300% Growth In June
 
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The PrimeXBT platform published the results of the copy trading module for June 2022: the best strategy performance finished with 313% growth. What’s notable about this feat, beyond making three times the returns on any capital, is the fact that they have outperformed the market by a significant margin in all respects.

Here is a closer look at the top-ranked traders in the Covesting copy trading module on PrimeXBT and how they compare to the rest of the market on an ROI basis.

What Is Copy Trading And How Does It Work?

Before we deep dive into the June monthly performance of top Covesting traders, let’s review why copy trading is so important and why it has become one of the most popular tools in the trading community.

Covesting strategy managers get access to the full suite of PrimeXBT margin trading tools and the entire list of more than 100 different trading instruments. Traders can open short and long positions on Bitcoin, the S&P 500, commodities, metals, and more, or choose to build a diverse portfolio of uncorrelated assets.

Followers benefit from being able to copy the trades of high-ranked traders without having to worry about performing technical analysis, knowing how to trade, or having to manage positions on their own. Strategy managers do all the hard work. Here is a closer look at the work strategy managers put in during the month of June 2022 and how much ROI they made for their followers.

June 2022 Top Copy Trader Performance: 313% ROI

The award-winning PrimeXBT margin trading platform regularly publishes the results of incredible performances by top Covesting traders who stand out in the peer-to-peer copy trading community.

The latest information provided by the PrimeXBT platform has revealed that the top-ranked Covesting trader in June generated 313% in profits. The top-ranked strategy manager not only earned 313% ROI for themselves but have given their followers a full 3x on their capital in a single month.

Such outstanding performance is typical for Covesting traders on PrimeXBT, but the results of June are particularly notable due to how much the trader was able to outperform the market.

How 313% ROI Compares To Popular Global Markets

At 313% ROI, the top-ranked trader for June, Covesting user “Indiceplusoil,” was able to outperform cryptocurrencies like Bitcoin and Ethereum, beat all major stock indices, surpass soaring oil and natural gas profits, and push ahead of the dollar.

In the month of June, Bitcoin and other cryptocurrencies fell between 30% to 50%. The SPX fell 10% and closed the month with an 8% decline. Crude and Brent oil fell roughly 10% from local highs set the same month.

The stress on markets was primarily due to the growing strength of the US dollar, which can be seen by a 3% June increase in the DXY dollar currency index. The Dollar Currency Index is a weighted basket of top forex currencies trading against USD.

Maximize Earnings With A Portfolio Of Top Traders

Followers have to stay on top of their followings and make the right choices on who to follow. The Covesting leaderboards offer regularly updated performance metrics on each strategy. A five-star rating system also highlights safe, highly skilled traders.

Combined with a number of stars, a high ranking, and as much as 300% ROI, followers can find traders and make a fortune simply by copying the trades of others.

Fortunately, followers can also follow more than one strategy for a portfolio of top traders that is less risky than following any one trader, while also providing more exposure to possible profit opportunities with other traders.

Who Else Can Traders Follow From June Results?

Indiceplusoil isn’t the only high-performing strategy for the month of June in the Covesting copy trading module. Followers can boost their portfolios by following them or any of the rest of the most profitable strategies in June.

User Quantibot8 is right behind them with 289% profit for June. Biz Biz Marko, who is placed second overall in all-time total profits, added 264% to their 1226% all-time ROI in June alone. Biz Biz Marko also had the best maximum win ratio in June with a staggering 100%.

AlphaTrend placed fourth in the June monthly results with 250% ROI, while LowLeverageLong took in 210% for the hot summer month. However, both AlphaTrend and LowLeverageLong have a lot of catching up to do as they are still negative -62% and -85% respectively in all-time profits.

Summary: Make The Most Out Of PrimeXBT Professional Tools

With another month almost over, we will soon have the results for July. The summer months are always hot in the Covesting leaderboards on PrimeXBT, but 313% returns are setting the trading community ablaze.

Whether you want to take on the ranks of other top strategy managers on Covesting or you want to profit from following one, be sure to check out the Covesting copy trading module on PrimeXBT.

Continue reading on DailyCoin

PrimeXBT Copy Traders Beat The Market With Over 300% Growth In June
 

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