Top 10 Help


How secure is the broker link?

The broker link is provided by Yodlee - which provides the same data aggregation technology to over a hundred leading online banking sites and global financial institutions. http://Corporate.Yodlee.com/Partners

Covestor does not store or have access to credentials, once entered they are maintained by Yodlee in a highly secure environment, http://corporate.yodlee.com/security_overview.shtml. The connection creates one way view only access to activity data (no personal data such as social security no etc).

The link is used only for the purpose of populating and updating your Covestor account. (View our complete Security Policy for further details of our security credentials).

If you would like to speak to one of our Operations team in person please contact us.



Does Covestor support Options?

Covestor currently only supports positions held in equities (long and short), Mutual Funds and ETFs. We do not yet support Cash, Options, Futures, Bonds or Forex.

We plan to add Options shortly. Send us an email if you would like to be notified when these instruments are available.



I have multiple broker accounts. How do I load them onto Covestor?

If you are trading in multiple different accounts you need to set up separate accounts on Covestor if you wish to use the automatic data import. Members tend to have different strategies in these accounts and so we separate these out to increase their following.

By using the automatic import all sub-accounts held under the same broker username and password will be imported.

You can consolidate accounts today using the manual entry process but will not be able to distinguish between them on the site.



What data do I need to upload to set up my portfolio for manual entry?

To enable the manual entry process we need view of a recent brokerage statement. This is to allow us to verify your identity and to load you initial holdings. Statements are destroyed post verification and are used only for this purpose. Any other data on the statement that you deem sensitive, such as account number or social security number, feel free to blank out.

The statement uploaded must be in PDF or similar format (e.g. a screenshot of your online account). Depending on your broker these are some examples of where your statement can be found. We cannot accept CSV, XLS or QFX files.

You can also notify us of trades since this last statement and these will also be loaded. As Covestor is about verified activity statements may be periodically requested to validate the data entered using the form.



How do I change my username?

To change your username contact us with your existing username and the account name you would like it changed to. Our support team will change it on your behalf.

Once your username has changed remember to use the new username when you next log in to your account. Your password will not change.



I have recently joined. Why can't I see the cost basis of the holdings in my portfolio?

Covestor does not reflect your portfolio's performance or trades prior to registration - we hope to add this capability in the coming months.   Like a mutual fund we mark to market every day so your performance is being measured consistently with institutional standards from the date you register with Covestor.

The performance of all holdings begins from the date you register using the prior day’s closing price for each position as the starting point.



I have entered a trade manually but with incorrect data. How do I fix it?

If you have entered a trade using the manual trade entry form and provided incorrect details of the transaction, contact us with details of the error. Our data team will update the trade for you.



I use the automatic import but my positions on Covestor do not match my holdings with my broker. How do I fix this?

All of your long and short equity positions (including ETFs) should appear on your holdings page. We plan to add cash, options, CFDs, bonds and CD's but these are not currently supported.

Should you identify any equity positions which do not reconcile to those in your broker account, please contact us with details and our data team will investigate.



How do I convert from manual to automatic data import?

To convert your account from manual to automatic data import you will need to notify us. We will help to migrate your Covestor account so as not lose the performance history you have built.

Send us details of your username and the requested change. Instructions will be sent to you about where to enter the broker credentials to activate the link. Please do not set up the automatic account before receiving instruction.



How is my performance calculated?

The performance calculations are run every night and are calculated for each stock that you own.

On Covestor we use Time Weighted Returns, as the institutions do, and not the Simple Return that your broker displays. In other words we show what someone following you with a fixed amount of money would have made, not how much you yourself may have made. For more information please view our blog post on the topic. For more detail about “What calculations are being used to measure performance,” go to the FAQ.


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