Site Review: Covestor versus KaChing – How Would You Make $$?
17. Jun, 2009 
2 Comments
If you aren’t already aware of these two sites, then you’re missing out. Covestor.com and KaChing.com both help investors meet other investors and even track their stock trades online. The sites don’t just stop there. Although the functionality is a bit different, both sites allow you to monitor your own trades and publish them to the entire community. In another words, these community sites allow you to showcase your talent as an investor and earn the fame you deserve. Last but not least, you even have the potential to earn REAL money through the site. Through this post, I will summarize the pros and cons as I see it and leave the rest up to you to decide.
Covestor
Pros:
- Launched in 2007 and thus more established with seasoned members
- Allows you to link to your brokerage account directly so that your trades are tracked and published live
- Real brokerage transactions mean real performance
- Lets you view blog posts maintained by members within Covestor
- Comprehensive member directory
- Live customer support via phone
- Higher traffic than KaChing
- Blog owner friendly
Cons:
- Even though Covestor grew rapidly since the launch, the growth has stalled a bit
- Up and coming competitor KaChing in the dynamics
- Activity (updates) has slowed down – owners in maintenance mode?
- Covestor cannot track option trades – disadvantage to investors who successfully trades options
- The next step to allow investors to earn money through the tracking system has been pending for years
KaChing
Pros:
- Launched in late 2008 and has a ton of momentum
- Good visuals and charts throughout the site
- High user interactions in the community
- Live stock quotes via Xignite service
- SEC Registered Investment Advisor – high potential for successful implementation of a fee based fund management by individual users
- Solid fund manager search features with filtering capability and charts
Cons:
- Still new and lags behind Covestor in traffic
- Does not yet offer live tracking of trades via brokerage linking – not yet “real” performance with real money
- No integrations with user owned blogs
- Future of fee based fund management by individual users still unknown. Is it going to stall like Covestor?
- No capability to track/trade options
Now you got the overviews of each site, it’s time for you to venture out on your own and try it out yourself. For those of you who are familiar with both sites, I’d love to hear your take on the two. Happy trading.
Know this is an old post but it came up when I was googling comparisons between the two. Now that Covestor has launched CV.IM to invest real money in portfolios, it should be an interesting competition between these two.
As I've commented elsewhere, I think the ultimate 'winner' here is the company that can garner the best collection of managers. And as such, they have to compensate (incentivize) them.
Know this is an old post but it came up when I was googling comparisons between the two. Now that Covestor has launched CV.IM to invest real money in portfolios, it should be an interesting competition between these two.
As I've commented elsewhere, I think the ultimate 'winner' here is the company that can garner the best collection of managers. And as such, they have to compensate (incentivize) them.