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A great question with a simple solution! You don't need to worry about paying bills. When we charge your account, we submit an invoice to Interactive Brokers (they are the custodian of your funds). Next, Interactive Brokers will deduct the specified amount from your account, on our behalf. In this way, we never have direct access to your funds.

Yes – Quants Compete is designed to never have custodial possession of your money or securities. Rather, all client securities (your money) are held in the highly secure custody of your broker (Interactive Brokers LLC). We chose Interactive Brokers as our custodian because of their tech-forward vision and client protections. Here is an excerpt from their website: "Client securities accounts at Interactive Brokers LLC are protected by the Securities Investor Protection Corporation (“SIPC”) for a maximum coverage of $500,000 (with a cash sublimit of $250,000) and under Interactive Brokers LLC’s excess SIPC policy with certain underwriters at Lloyd’s of London 1 for up to an additional $30 million (with a cash sublimit of $900,000) subject to an aggregate limit of $150 million. Futures and options on futures are not covered. As with all securities firms, this coverage provides protection against failure of a broker-dealer, not against loss of market value of securities." With that said, Quants Compete makes security its highest priority. We use encryption and other cyber-security safeguards to protect any and all personal information that is entered through our app or website.

To view your account performance, you can login to your Interactive Brokers account. This will take you to their dashboard, where you can see an overview of your account. Note: we hope to add a dashboard to the Quants Compete app that will summarize your account information. But until we complete this project, you are always able to view your account through Interactive Brokers.

While Quants Compete does not require a minimum account balance, know that our primary goal is to grow your account. In other words, we want to generate more per month than our fee removes. If you don’t have a lot to start with, no problem! We all have to start somewhere. Regardless of how much is in your account, we highly recommend that you setup an automatic contribution plan within your Interactive Brokers account. Contribute what you can, even if it’s just a few bucks a month.

When you complete our Questionnaire we will make Model recommendations that best fit your financial goals, risk tolerance and time horizon. These recommended Models are displayed in the Models tab. Each Model comes with a short description, and details about its performance and popularity. Just select a Model or Models and click ‘Confirm.’ Note: if you select more than one Model, you’ll need to specify how much of your account will be managed by each Model. Note: we reserve the right to override your selection if we believe it is in your best interest.

Interactive Brokers LLC is the brokerage company that Quants Compete has selected as it custodian of Client funds. Basically, when you register with Quants Compete, you are giving us permission to manage the funds in your brokerage account. So if you don’t already have an Interactive Brokers account, signing up is easy. Just download our app and we’ll walk you through the process. If you already have an Interactive Brokers account, then you’ll easily be able to link it using our app.

Quants Compete selected Interactive Brokers as its custodian of Client funds for a number of reasons. Two of the most important are: (1) Interactive Brokers is proactive in their technology, and as a result they have excellent cyber-security. Nothing is more important to Quants Compete than your privacy & security. We believe that Interactive Brokers is likeminded in this respect. Second, Interactive Brokers has a very competitive fee structure. Quants Compete recognizes its appeal for Clients who start with small account sizes. Our goal was to minimize the burden of brokerage fees. Interactive Brokers has been a great fit in meeting this objective.

If you have reached your financial goals, or wish to cancel for any other reason, all you have to do is go to the Models tab in the dashboard and uncheck the Models you are using – then click “Confirm.” This will begin the process of liquidating your portfolio. Keep in mind that some Models require a few days to be fully liquidated. Finally, to cancel service completely, follow this link at Interactive Brokers: If you have any difficulties with cancellation, you can always reach out to us through our Contact page.

When you select Quants Compete as your Investment Advisor, you give us control over how to trade in your account. This is done for your protection. For example, it would be potentially problematic if you executed an independent trade that contradicted the strategy of the Model we applied to your account.

Once you are fully signed-up with Quants Compete, we will send out a monthly bill to Interactive Brokers. They will deduct our fee from your investment account. With this billing structure in place, not only are we able to avoid having to collect your credit card (or banking information), but we also avoid connecting directly to your account. Just another way to keep your account safe and secure.