No. We license trading data from both professional and non-professional investors to manage models 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.
There is no limit to how much you can earn. We share the management fees we charge with you. If you are an unregulated individual investor we pay you a fixed fee for each subscriber to your model, and if you are a Registered Investment Adviser we split the fees with you 50:50. Find out more about manager compensation.
Managing money is an activity regulated by the SEC. In managing a model 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.
Yes. Non-US citizens can manage models 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.
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 have signed up we send you a link to open the specific account this requires with Interactive Brokers.
Covestor only charges fees on subscriptions you take 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. View Client account Fees
To open a account you need to fund it with a minimum of $10,000. If you plan to subscribe to a number of models, 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.
There are a number of causes of drift including replication time and your own Risk Score and exclusions. Where there is significant drift this is largely due to the Manager trading outside of the Trading Rules, into positions that are not mirrored for you. More
The subset of models you can subscribe to is determined by your risk score as well as the type of account you have opened with your broker. Some model 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 model manager’s trades in your account. This is why some models could be unavailable to you. For further details on account types, please call to speak to Customer Service or