Public.com Investing and Trading
With a brokerage account through Public.com, it’s possible to trade the following investment vehicles:
- Cryptocurrencies
- Options
- Stocks
- Corporate and Treasury bonds
- Exchange Traded Funds
- Closed End Funds
- Alternative Assets
Public’s equity category includes over-the-counter (OTC) stocks. Alternative assets are things like fine art and comic books.
Notice that we mentioned “with a brokerage account.” Everything at Public is self-directed; there
is no investment advice at all. But Public does have one more unique service for us: investment
plans.
An investment plan at Public is a basket of assets (stocks, cryptos, and ETFs) that can be traded in a single trade. Customers can create their own investment plans or purchase one of the plans listed on the Public platform.
Brokerage accounts at Public can be opened as individual taxable or retirement accounts. Unfortunately, that’s the extent of account registrations with the brokerage house.
To open a taxable or tax-sheltered account, applicants must be lawful U.S. residents (U.S. citizenship is not required). A valid Social Security Number is required.
The best trading experience with any account registration at Public will be obtained through a Premium membership. Premium comes with VIP account management, discounts on trading fees, better research tools, and more. This costs $10 per month; the fee is waived with a $50k account balance.
Cash Management
Besides brokerage accounts, Public offers its customers cash accounts. Currently, these yield
4.1%, which is pretty good. Public’s cash account comes with unlimited deposits and withdrawals, so it functions as a checking account (without checks). Technically, it’s a brokerage account with an FDIC sweep. Cash is moved to program banks, and Public partners with a lot of them. In total, a single cash account at Public is eligible for $5 million of insurance.
Besides no check writing, the other downside of Public’s cash account is the lack of a debit card.
Margin
A brokerage account at Public can trade on a cash or margin basis. A margin account comes with some added perks, including option spreads and leveraged positions. Public does not permit shorting in any account type, however.
Borrowing money always comes at a cost, and margin is certainly no exception. Currently, Public
charges 9.5% to 5.5% for margin debits. Loans above $1 million receive negotiated rates.
An existing cash account at Public can easily upgrade to margin on the broker’s website or mobile app (just go into the settings menu).
Public.com Fees
| Investments | Commissions |
|---|
| Stocks and ETFs | $0 ($2.99 during extended hours) |
| Options | $0.50 per contract |
| Mutual funds | not offered |
| Cryptocurrencies | 1.25% |
| Investments | stocks, cryptocurrencies, options, bonds, alternative assets, and ETFs |
| Minimum deposit to open account | $0 |
Public charges no commissions on online market-hours trades of stocks, equity options, and ETFs. There are no account minimums or fees, either. For everything else, there could be fees for non-Premium members, and for Premium members in some cases.
Index options, for example, are 50¢ each for non-Premium members and 35¢ each for Premium members. A stock order during extended hours costs $2.99 for regular clients. Crypto trades have either a flat fee (up to $6.25) or a percent-based charge (1.25%).
Treasury positions cost anywhere from 0.29% to 0.09% per annum, depending on Treasury balance.
Trades of investment plans cost anywhere from $0.49 to $1.49 each, depending on the number of symbols in the plan. Premium customers pay nothing.
Public’s cash account has no minimums and no fees of any kind.
Website
The Public website has its main menu on the left-hand side in vertical format. Here, we found links for the various products available through the firm, such as bonds and crypto. The link for investment plans creates a pretty impressive list of possibilities. Examples we found include:
- Artificial intelligence
- Dividend growth
- Energy
- Cybersecurity
- Real estate
- Core income
It’s possible to go into an investment plan and see what assets the plan holds. Clicking on a position brings up the profile.
Stock profiles on Public.com have quite a bit of information on them; unfortunately, much of the data is accessible only by Premium members. A chart sits at the top of a profile; it is very basic with no tools at all. An Advanced button creates a full-screen chart with several important tools; it is available in Premium mode only.
One button on the stock profile brings up a list of bonds offered by the company under investigation. Another button is for options on the security. Here, we found a strategy-builder tool with integrated spreads. Custom orders can be created with more than 4 legs if desired (look for ‘Add to Queue’ on the trade ticket).
Mobile App
Public’s mobile app has a lot of the same tools we have just seen. The watchlist on the app syncs with the list on the website; it can be found by clicking on the Portfolio icon in the bottom menu.
There is a Feed icon at the bottom of the app that recreates the same digital bulletin board that exists on the website; here, traders can discuss market news and individual assets.
A Trade icon also sits at the bottom. Tapping on this button pulls up the app’s order ticket. During our test drive, we found market, limit, and stop orders for equities and options.
The Markets hub has a great deal of financial news. We found bond yields, popular investment plans on the Public platform, and option contracts with high volume.
The mobile app has a yellow-green icon in the upper-right corner; this is Public’s artificial intelligence. Called Alpha, it can answer investment questions but is not designed to give investment advice. Public cautions it can make mistakes.
This time, there is no advanced charting for Premium or non-Premium customers.
Add-On Features
Dividend Reinvestment Plan: Public offers a DRIP for stocks and ETFs.
Periodic Mutual Fund Investing: Although mutual funds aren’t available at Public, the brokerage firm does offer recurring purchases of investment plans and equities.
IPO Access: Despite its many services, Initial Public Offerings aren’t available at Public.
Fully-Paid Securities Lending Program: Public customers can earn money by loaning out their shares.
Individual Retirement Accounts: Public now offers IRAs.
Extended Hours: Pre-market and post-market trading are both available (at additional cost for non-Premium customers).
Fractional-share Trading: Whole dollars or whole shares can be specified.
Our Recommendations
Frequent Equity Trading: Without a browser platform or desktop program, Public isn’t ideal
for advanced trading. Charles Schwab is.
Mutual Funds: Firstrade would be a good pick.
Beginners: Public does not offer simulated trading or managed accounts.
Webull offers both.
Long-Term Investors & Retirement Savers: Although it does offer IRAs, Public just doesn’t
have the resources for retirement planning. Over at Charles Schwab, we found human advisors, annuities, lifecycle mutual funds, retirement calculators, branch locations, and so much more.
Small Accounts: With its Premium membership, Public obviously favors large accounts. Many
of the services on Premium can be found at Charles Schwab without a paid membership.
Public.com Review Summary
Although Public customers do get some useful services, the broker misses in some key areas and overall fails to impress, especially in terms of value.
Updated on 3/17/2025.
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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