Covestor is definitely a good site... although the user in the first place i wouldn't give much credit... Pump and dump front runner of his own subscribers - that's how he makes so much, buys illiquid stocks, alert to his subscribers which make the price move, and then sell and issue new alert... that way it's easy
I think you mean a guy by the initials of TS who is #1 on Covestor. I dare not mention his name around here because I believe he got banned from this website. If you look closely at Covestor, it does provide you with a range of cash the trader is working with. $$$ means the trader is working with at least 250k. So if the trades are coming directly from the traders brokerage account and you see the $$$ then that to me is very legitimate. However, there are probably ways I have not thought of to manipulate Covestor just like people hack into computers in ways that I cannot think of...
I'm not saying Covestori s illegitimate Covestor which isn't... just stating that specific #1 spot. To me would be pretty easy as well getting those returns by buying illiquid penny stocks, issue an alert to my subscribers making the price move my way by a lot, sell and then issue an alert again... pretty much all his trades are low liquid penny stocks... I believe the account and the returns are true, because Covestor is an independent "auditor", just not much credible how he makes those returns that's what i meant Cheers
The trick to scams is this. It doesnt matter if 99% of everyone does not believe it. They just need 1% of the observers to believe it. Lets say the post is accurate that they get about 30,000 visitors per day to the site. If they get 300 people to believe and subscribe to a site then its 300 times 75 dollars (some sites charge 200-300 a month)= 22500 Lets say they charged the usual rate of 300 a month= 300 times 300= 90000 per month Even if less then one percent believe in it, then thats still rather good money.
if my math serves me right: http://s-xsetups.blogspot.com/ hmmm 342$ * 100 = 34200$ per month... not a bad salary ...