Help & Support

Top Managing a Portfolio Questions

  • Do I need to be registered as an Investment Adviser?
    No.  We license trading data from both professional and non-professional investors to manage portfolios on Covestor.  As an unregistered investor you sign up to our Non-Registered Publisher Agreement where your prime responsibility is to license your trading data to us.  You have no direct relationship with, or responsibility to, our clients.
  • How much can I earn?
    There is no limit to how much you can earn. We share the management fees we charge with you. We keep 0.25% of the fee and pass the rest on to you!
  • I am unregistered, why can't I earn fees based on the assets following me?
    Managing money is an activity regulated by the SEC. In managing a portfolio on Covestor you are not acting in an advisory capacity, you are simply a publisher of data which you license to us. We pay you a fixed fee for each subscriber to your data.
  • Does Covestor support currency, futures or options trading?
    Not at this time.
  • I am not a US citizen, can I manage a portfolio?
    Yes. Non-US citizens can manage portfolios as long as they are able to open a US dollar denominated brokerage account with Interactive Brokers. You are only able to take positions in US listed equities (including ADRs) and ETFs.
  • How do I switch from being an individual investor to an investment adviser?
    Let us know and we can switch your account in either direction. Be aware you can only be compensated as an investment adviser if you are a Registered Investment Adviser (RIA).
  • How do I send in my performance history?
    We are able to display historical performance history for Registered Investment Advisors (RIAs) with GIPs verified track records. Once you have returned the agreement and portfolio profile form, our Manager Relations team will be in touch about this.
  • Can I use my existing brokerage account?
    Not at this time. Only Interactive Brokers is currently able to provide us with a real-time view into your trading activity and cash position for live replication in accounts. Once you sign up for an account with us, we send you all the information needed to open an Interactive Brokers account linked to Covestor.
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Top General Questions

  • The site doesn’t seem to be working correctly.
  • How do I submit feedback?
  • How do I report system abuse?
  • Who do I contact about partnerships?
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Top Client Account Questions

  • What are the fees?
    Covestor only charges fees on investments you make in your account.  There are no entry fees, exit fees, load fees or other hidden charges. The only other fees you will be charged are those levied by the brokerage. Learn more about Covestor Fees.
  • What is the minimum deposit required?
    To open an account you need to fund it with a minimum of $10,000.  If you plan to invest in a number of portfolios, or those that trade heavily we recommend that you fund the account with a minimum of $30,000 to prevent your account being locked under SEC pattern day trading rules.
  • Can I use the service even if I am not in the US?
    Yes.  US and non-US citizens of at least 18 years of age are able to open accounts, however we don't currently support UK and Canadian citizens or residents of Japan regardless of citizenship.
  • Can I invest in more than one portfolio?
    Yes. You can invest in as many portfolios as you want in a single account. When you sign in to Covestor you can see your positions, both in aggregate and broken out by investment.
  • How long does it take to replicate a trade?
    Typically trades are replicated within one minute. Actual times may vary.
  • Why is there a difference between the manager's performance and my own?
    We call this drift. There are a number of causes of drift including replication time, Risk Score, and stock exclusions. Drift is typically caused by Managers trading outside of the Trading Rules, or in securities that are not replicated for clients. Learn more about Performance Drift.
  • I placed an instruction to invest/redeem a few hours ago. When will the trade orders be executed?
    During market hours instructions are processed in the order they are received. After market hours instructions will be processed at the next market open.
  • Will I be able to invest in all portfolios?
    The subset of portfolios you can invest in is determined by your risk score as well as the type of account you have opened with your broker. Some portfolio managers have opted for accounts with extended trading capabilities (e.g., immediate settlement of trades, ability to use leverage, etc.). If your account does not possess the same abilities, Covestor would not be able to replicate the portfolio managers trades in your account. This is why some portfolios could be unavailable to you. For further details on account types, please call to speak to Customer Service or email us with details.
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Top Trial Account Questions

  • Is there any cost involved in opening a trial account?
    None at all. There is no cost and no obligation beyond completing the brief registration form.
  • Can I deposit more virtual dollars?
    To add more virtual money to your account contact us.
  • Can I reset my trial and start again?
    Yes, contact us to have your account reset with $100,000 in virtual money. You will, however, have no performance history.
  • Can I change my risk score?
    Yes. You can change your risk score at any time in your account settings.
  • View all Trial Account FAQs »

Performance drift