Is there a Trait Level limit in Remnant: From The Ashes?

The Trait system in Remnant: From The Ashes works similar to an Experience system in other games. When defeating enough enemies or obtaining a Tome of Knowledge, the player gains one trait point, which can be spent on any trait the player has "found" yet.

To my knowledge as of 2019, there are currently 35 different traits, and each trait can be improved until rank 20. This requires the player to obtain a total of 700 trait points to maximize every trait.

Is there a Trait Level limit in place which prevents maxing everything out?

Yes.

Currently there is maximum limit of trait points - 640 points. It's enough to max all available traits.

Here is my char, I am not getting experience anymore (experience bar is empty) and I stop getting trait points when me or someone else pick up Tome of Knowledge.

I am still missing 3 traits, when I obtain them - they will be level 1 each, so

580 trait rank + 57 free points + 3 points = 640.

Yes. Each trait can have a max of 20 points, and there 32 traits in the game. So the max trait level is 640.

Whenever you get a trait point you can put it into whatever trait you want, so long as that trait doesn't already have 20 points in it.

Edit: Source