Depositing Funds and Investing
What’s the minimum to fund the account?
The minimum deposit is $50. However, we recommend starting with at least $2,500—more information as to why can be found here. If you’d like to transfer funds from another brokerage account, please contact help@composer.trade, and we can guide you through the process.
Can I still use Composer without funding my account?
During the signup process, you are required to link a bank account and initiate a minimum deposit of $50.00. After doing so, you can utilize Composer to backtest and create symphonies.
What should I invest in?
Composer doesn’t provide investment advice or make recommendations.
How many symphonies can I invest in?
We don’t limit the amount of symphonies users can invest in.
How does trading work?
Composer aggregates all trades and executes them during the set daily trading period. The orders are executed daily between 3:50 and 4:00 PM Eastern on days the market is open. All trading activity for the day will be completed during this time, and your portfolio will be updated after the orders have been executed. You can read more about how Composer trades here.
If you have at least $25,000 in equity, you can utilize the Buy Now feature. This allows you to trade your symphony multiple times throughout the day (outside of the standard trading period). You can read more about Buy Now in this article.
What happens after I click “invest”?
After clicking ‘invest', we will execute your symphony in the next trading period. Composer will automatically execute trades based on the designated calendar frequency or designated threshold. You can manage your investments on the Portfolio page.
What are the fees?
Our fees are only associated with automated trading. We have two types of Trading Passes – A monthly Pass starting at $40/month and a yearly Pass at $32/month. Please see our complete fee schedule here.
Where are my assets held?
Composer has clearing agreements with Alpaca Securities and Apex Clearing. Alpaca Securities and Apex Clearing are our brokerage partners responsible for executing trades for Composer users and act as the custodians of funds deposited in their brokerage accounts.
Alpaca and Apex are members of SIPC, meaning securities in your account are protected up to $500,000, with a $250,000 limit for cash (details and more information can be found at sipc.org).
If you are unsure who your account is cleared through, please contact our team at help@composer.trade.