Help & Support

Top Managing a Portfolio Questions

  • Do portfolio managers need to be registered?
    Yes. You need to be a Registered Investment Adviser or a Registered Hedge Fund Manager to manage a portfolio on Covestor's marketplace.
  • 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!
  • Does Covestor support currency, futures or options trading?
    Covestor supports stocks and options trading. We do not currently offer currency or futures trading.
  • 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 send in my performance history?
    We are able to display historical performance history for Registered Investment Advisers and Registered Hedge Fund Managers with track records that are GIPs verified, provided by Interactive Brokers, or - in most instances - audited by a third party. 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.
  • View all Managing a Portfolio FAQs »

Top Trading Options Questions

  • How do I become eligible for investing in portfolios that trade options at Covestor?
    To be eligible for portfolios that trade options you need options trading permission at IB. This is an opt-in permission that must be set in the IB account. It involves checking a box to say you have received and read a document by the Options Clearing Corporation. Additionally, to enable options trading in your Covestor account, you will have to sign the Enable Options screen and acknowledge and agree to all the statements on that screen.
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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?
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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 broker. 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 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 Manager's 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