Overview of Public Investing App
Public.com is a modern brokerage that focuses on social interaction, easy access, transparency, and strong support.
Users on Public.com can trade stocks, ETFs, options, and cryptocurrencies without needing to maintain a minimum account balance or pay inactivity fees. The option to buy fractional shares, which Public.com calls ‘Slices’, allows investors to diversify their portfolios regardless of their investment size.
Read on for a detailed review of Public.com to find out if it's the right choice for your investment needs. We've done the research for you.
Public.com Pros...
- Social interaction mixes inspiration and information, aiding traders in making informed decisions.
- The simplified app is user-friendly, making trading accessible and enjoyable.
- Information on securities and market data is well presented and helpful.
- Fractional shares offer flexibility for investors with any amount of capital.
- In-app support quickly addresses user queries and issues.
Public.com Cons...
- Basic charting tools may not meet the needs of more experienced investors who prefer comprehensive analytical tools.
- Cryptocurrency trading does not support actual digital asset ownership; for holding cryptocurrencies, other platforms may be necessary.
- No desktop trading platform is available at this time.
Public.com Pricing and Minimum Deposit
| Investments | Commissions |
|---|
| Stocks and ETFs | $0 |
| Options | $0 |
| Mutual funds | not offered |
| Cryptocurrencies | 1% |
| Investments | stocks, closed-end funds, cryptocurrencies, and ETFs |
| Minimum deposit to open account | $0 |
| Fees | Public fees |
Investment Vehicles
Public.com offers a limited selection of investment types: stocks, ETFs, and cryptocurrencies.
The stocks and ETFs available are primarily from the U.S. stock market, though international exposure is possible through ADRs and global ETFs.
Customer Service
Public.com provides easy-to-access and responsive customer support through both its website and app. Users can reach support via message tickets and instant chat.
Instant chat is available during stock market hours, and outside these hours, messaging tickets are the best way to contact support.
Additionally, a keyword-powered FAQ search is available within the app, offering numerous helpful articles to resolve common issues.
Cash Management
Public.com does not provide traditional cash management services, but it does offer a margin account service where users can invest in stocks, ETFs, and cryptocurrencies. There are no account minimums, and fees are low.
Uninvested funds in a Public.com trading account can earn interest, which is an attractive option for savers.
Securities lending through Apex Clearing allows users to earn passive income by lending out their portfolio stocks or ETFs. This does not affect their ownership or the ability to sell the securities.
ETFs
Public.com offers a variety of ETFs that can be found either by searching directly or exploring through themed collections on the platform.
Themes help group related securities, making it easier to discover ETFs that align with specific interests or sectors.
Social features of the platform also allow for discovery of securities, including ETFs, by searching hashtags related to investment styles or goals.
Mutual Funds
Currently, Public.com does not offer mutual funds and there are no immediate plans to include them.
While the platform is heavily focused on stocks and crypto trading, adding mutual funds would require a shift in its business model.
Pricing
Public.com's trading fees are low, with zero commission on most trades.
Here’s a quick look at some of the fees you might encounter:
Stock and ETF Commissions = $0.00
Stock and ETF Clearing Fees = Minimal
Outgoing ACAT Transfer = $75
Wire Transfers = $30
Insufficient Funds for Incoming Transfers = $30
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Account Types
Public.com primarily offers a single type of account—an individual brokerage account that can be upgraded to include crypto trading. This account is managed by Apex Clearing, which handles all backend operations like documentation and records.
Account details are accessible through the mobile app or directly through Apex’s website.
Website
The Public.com website provides tools for searching and monitoring stocks, ETFs, and cryptocurrencies, complete with social feeds and news updates. However, some features available on the mobile app are not present on the website.
Desktop Platform
Public.com does not offer a desktop platform. This is notable since other brokers using Apex Clearing do provide desktop access.
Mobile Trading
The mobile app is where Public.com excels. It offers a seamless trading experience designed specifically for mobile users, enabling comprehensive account management and trading without needing a desktop.
Users can manage all aspects of their account directly from the app, including performing complex tasks usually reserved for desktop platforms.
Security Research
Security research on Public.com is straightforward. After selecting a security, a detailed page provides extensive information including company data, trading statistics, and recent news.
The platform also integrates social insights, showing discussions and trends related to the security.
Cryptocurrency Trading
Public.com's approach to crypto trading is simple: it allows buying and selling directly against the dollar without the need for crypto-to-crypto exchanges or external wallets.
Crypto transactions incur a 1% fee, making the cost of buying cryptocurrencies clear and upfront.
The platform supports trading in major cryptocurrencies like Bitcoin and Ethereum, among others.
Securities Services
Public.com offers a unique service where shares can be lent out through Apex Clearing to earn interest. This service is opt-in and allows shareholders to gain passive income while still benefiting from any appreciation in their stocks' value.
Global Trading
Public.com provides access to foreign markets through ADRs and international ETFs, allowing users to invest globally without needing to access overseas exchanges directly.
Recommendations
Mutual Fund Investors:
Since Public.com does not offer mutual funds, those interested should consider
Charles Schwab.
Individual Retirement Accounts:
Public.com currently only offers standard brokerage accounts. For IRAs,
Robinhood might be a better choice.
Beginners:
Public.com is ideal for beginners due to its simple trading tools and rich educational content, enhanced by the platform's social features.
Active ETF and Stock Trading:
While Public.com simplifies trading, those seeking advanced tools might find it limiting.
Webull offers more robust trading capabilities.
Long-Term Investors and Retirement Savers:
Public.com suits those looking to invest long-term, particularly in stocks or ETFs. However, without specific retirement accounts, those planning for retirement might need to look elsewhere.
Small Accounts:
Public.com is well-suited for small accounts with its no-minimum, zero-commission structure and fractional shares.
Public.com Review Summary
Public.com is a solid choice for those seeking a straightforward and socially integrated trading experience. Its educational resources and social features make it especially appealing for new investors.
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Updated on 7/19/2024.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
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