Covestor pays Investors

Are you looking for a site who pays a stock investor for picking the right stock? Then you should check out Covestor.

Covestor is an online community for self-directed investors to share their information and tricks of the trade. The unique aspect to Covestor is that it grants you the opportunity to earn revenue by providing your services to other investors.

While Covestor is free to join, it is a private community for those who have proven to be skilled successful self-directed investors. After your application is accepted, you can then utilize Covestor’s real-trade sharing service to build your track record. The data is of course kept private. Professional tools measure and display your normalized results, which in turn validate your performance so others can see how well your selections are doing. The data can also be exported with the use of a widget to your blog or MySpace.

You can view others’ portfolios and compare their performance against yours. Covestor will also rank your performance to that of the community of fellow investors.

So, if your looking to earn a little extra money from your expertise, you can offer your data to be tracked by others who invest in a managed account that makes investments informed by your data feed. You don’t have to be a registered member in order to track others. Covestor will open standard managed brokerage accounts for your followers, and each will be managed by a regulated investment manager in the appropriate jurisdiction. This feature should be live within the year.

Good investing!