Facebook Twitter
Now With Over 23,000 Reviews!
Sign up now

Covestor Investment Management

https://cv.im/..
Category: Websites
The new MMA from Covestor Investment Management (CVIM) is the world's first retail multi managed account. It gives you access to a form of active money management previously only available to those with millions of dollars invested with a wealth...
Filter reviews by
Page:   1
Displaying 1-8 of 8 Total Reviews
Covestor not transparent, not very open about their process.
I opened an MMA account with covestor with the minimum amount as advertised on their website. Took a long time to get money in the trading account (2 weeks). But, I was able to select a manager and thought I was all set. Boy, was I wrong! Checked it every day for a week, and it was going up and down a bit, but then it wasn't going anywhere and a couple of days later when I called I was told my account was placed in an inactive status because it dropped below the minimum, and all I had to do was deposit more money and the account would start trafding again. OK, fair enough. Took another couple of weeks to get the money to show up in my account, and then nothing. I called and they said they would reactivate my account and I should be all set. Sure enough, the account started trading again, but I noticed instead of going up and down by a few hundred dollars my account was down more than a thousand dollars! Seems I had missed a few trades while my account was inactive! There was no prior mention of this possibility at all. Eventually, I sent in a little more money and diversified my account with a few different managers, even tried the Tim Sykes model but that did absolutely nothing except cost money due to the fee and also lost money because of the slight delay in trade executions. Needless to say, that experience was short-lived. My account slowly began to recoup my losses (over $1200.00!) due to Covestor deactivating my account, and eventually started to make some gains. I relaxed and didn't check the site for a week or so and was dumbfounded when I checked my account found it to be deactivated yet again! I called and was told that one or more of my models had engaged in day trading and I didn't have the minimum invested for a day trading account so it was deactivated. Again, I was told that I needed to deposit more money and my account would be reactivated. At this time I had a little over $10,000.00 invested, so I sent more money. IB had set me up with a token authentication and I was able to transfer money via ACH and this only took a week. Again, I called and requested reactivation, but I was told then that the minimum for a day trading account was $30,000.00! WTF?! OK, I borrowed some money and sent another deposit to bring it up to $30,000.00, and called another week later when the ACH deposit had 'cleared' and again asked to have my account reactivated. I also asked if my account would be deactivated if the value dropped below this new minimum. I was told "no", so I thought I was all set. Checked the account the next day and there was no change in value, so I called to make sure it was reactivated. I was assured it was and would see some activity the next day. Checked next day and sure enough there was some 'activity', my account had again lost but now it was over $2,000.00 due to missing some trades in my models. The next day I saw some gains, and watched it every day from then on until I closed the account. The bottom line: I made some money eventually, but the loss of over $3,000.00 was a tough pill to swallow. They should have explained more about these "Gotchas!" before I invested.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
1 of 1 people have found this review helpful.
Embed Permalink Report
Was this review helpful?   Yes   No
Review Updated


This review is the subjective opinion of an Investimonials.com member and not of Investimonials LLC.
PandA Danvers, MA

User’s Review Ratings
Overall
Education
Entertainment
Value



The best site ever for finding good money managers
If your guru or trading site is not on Covestor immediately be skeptical. This is the most transparent and overdue form of tracking someones track record. Words really can't explain how great their business model and concept is. I congratulate them and Timothy Sykes for attempting to be as transparent as possible. For all you other F'ers, go take a hike with your Bull crap services and worthless un-educated promising garbage

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
2 of 2 people have found this review helpful.
Embed Permalink Report
Was this review helpful?   Yes   No
Review Updated


This review is the subjective opinion of an Investimonials.com member and not of Investimonials LLC.

User’s Review Ratings
Overall
Education
Entertainment
Value



Very innovative site
Covestor has allowed the “smaller guys” to display their verified financial performance and create a following base. This site has brought a lot more transparency into the world of investing. Here’s a chance to show the world you are a successful trader with a successful strategy. For those following, there are a number of different strategies, but track records are limited so one has to be very cautious. Customer service is really good here – I definitely recommend this site!

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
Embed Permalink Report
Was this review helpful?   Yes   No
Review Updated


This review is the subjective opinion of an Investimonials.com member and not of Investimonials LLC.
Spur20 Houston, TX

User’s Review Ratings
Overall
Education
Entertainment
Value



Superb customer service
Their customer service is superb

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
Embed Permalink Report
Was this review helpful?   Yes   No
Review Updated


This review is the subjective opinion of an Investimonials.com member and not of Investimonials LLC.

User’s Review Ratings
Overall
Education
Entertainment
Value



Great service for serious retail investors
Disclosure first: I am a cv.im model manager.

As an individual investor I love their service. It gives me the opportunity to benefit from other individuals who follow my strategy and earn some commission. The setup process is easy and doesn't require too much paperwork.

Recently, Covestor has been signing up more professional money managers, so cv.im clients get a good variety of investing options.

It will be very interesting to see if individuals will manage to outperform professionals.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
2 of 2 people have found this review helpful.
Embed Permalink Report
Was this review helpful?   Yes   No
Review Updated


This review is the subjective opinion of an Investimonials.com member and not of Investimonials LLC.
SunshineTrader Tuebingen, BW

User’s Review Ratings
Overall
Education
Entertainment
Value



Great idea.
The premise of the site is great, but its not the only one out there.

KaChing.com is similar in premise, although not necessarily better.

The Idea of transparency is great. It is much more comforting taking advise from someone when you can see what he/she is actually doing.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
1 of 1 people have found this review helpful.
Embed Permalink Report
Was this review helpful?   Yes   No
3 Comments on this Review
Review Updated


This review is the subjective opinion of an Investimonials.com member and not of Investimonials LLC.
Gatortrader Gainesville, fl

User’s Review Ratings
Overall
Education
Entertainment
Value



An A for Effort
They get an A for trying to bring transparency to the business.

They get an F for encouraging/allowing folks to blindly autotrade someone else's account, which is about the stupidest thing I have ever heard of.

So a solid C average.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
1 of 1 people have found this review helpful.
Embed Permalink Report
Was this review helpful?   Yes   No
Review Updated


This review is the subjective opinion of an Investimonials.com member and not of Investimonials LLC.
Betheball Santa Barbara, CA

User’s Review Ratings
Overall



Not very productive
First of all, with the reviews, education and entertainment don't apply.

Next: I signed up for this because of Tim, I didn't want to be autotraded by anyone else there. A lot of his picks don't make it through their filters because of market cap, or what exchange they're on. So, this will not be an adequate replacement for using Timalerts or his strategy in general because you will miss a lot of opportunities that way. This is the biggest issue for me, because there is a monthly fee for your money being managed, and when there aren't a lot of trades because of the filter, you are paying a fee for your money to sit there.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
1 of 1 people have found this review helpful.
Embed Permalink Report
Was this review helpful?   Yes   No
Review Updated


This review is the subjective opinion of an Investimonials.com member and not of Investimonials LLC.

User’s Review Ratings
Overall
Value



Page:   1
Displaying 1-8 of 8 Total Reviews
Recommended For
 
Investimonials Sponsors
 
Similar Products to Review
 
Featured Investing Products
  
  
  
  
  
  
  
  
 
Users of Covestor Investment Management