This text/publish incorporates references to services or products from a number of of our advertisers or companions. We could obtain compensation once you click on on hyperlinks to these services or products
On this Public.com assessment, we’re overlaying an app that allows you to purchase and promote shares with out paying commissions or navigating a sophisticated buying and selling platform. You can too use this app to spend money on crypto, discover new corporations, and join with like-minded buyers.
Commissions & Charges – 10
Buyer Service – 8.5
Ease of Use – 9.5
Instruments & Assets – 5
Funding Choices – 7
Account Choices – 3
7
Public.com is a commission-free inventory and ETF buying and selling app for iOS and Android. Public additionally helps fractional share investing and crypto investing. And its sharing characteristic makes your trades public (get the title?) to let customers view the portfolios of others.
professionals
- Fee-free inventory and ETF buying and selling
- Helps over 30 well-liked cryptocurrencies
- Helps fractional share investing
- Public Themes assist you to discover new investing concepts
- Get a free inventory price as much as $300
cons
- You may’t switch crypto to a different pockets
- No choices, mutual funds, treasured metals, or bonds
- You may’t commerce on margin
- Solely affords particular person brokerage accounts and never IRAs
What Is Public.com?
Public.com is a free buying and selling app that started in 2017. It was named Matador and is a wholly-owned subsidiary of a broker-dealer known as T3 Securities Inc. Public makes use of a 3rd celebration, Apex Clearing, to deal with the background administrative stuff of working Public person accounts.
Like many on-line brokers these days, Public is commission-free and does not require a minimal deposit to start out investing. It additionally does not use Cost For Order Circulate, which is when brokers obtain compensation to route orders to third-parties for commerce execution.
As an alternative, Public has a tipping characteristic for trades. You may resolve to provide a tip to the dealer for executing the commerce. This helps get rid of conflicts of curiosity between brokers and clients.
There’s additionally a social media component to Public: The app makes your portfolio public to different customers (therefore the title) and provides you the power to browse others’ portfolios.
One other massive draw for Public is that the app allows you to purchase fractional shares (which it calls “slices”). This implies you should buy lower than one whole share of a inventory. Fractional shares turn out to be useful once you’d like to purchase, say, Amazon, which presently trades for greater than $2,700 per share.
Whereas Public makes shopping for and promoting shares and ETFs free and simple, its options are considerably restricted in comparison with bigger brokers that additionally allow you to commerce shares and ETFs with out paying commissions. For instance, Public does not help mutual funds, bonds, choices, treasured metals, and has considerably restricted inventory analysis capabilities.
Nevertheless, Public’s motto is “Everybody’s an Investor.” When you’re on the lookout for an easy-to-use app that allows you to purchase and promote on the inventory market, this app does a wonderful job of assembly these wants. Nevertheless, needless to say it simply does not have all the options, analysis, and instruments you will discover with many different on-line brokers.
Public Options
| Minimal Funding | $0 |
| Inventory/ETF Trades | $0 |
| Choices Trades | N/A |
| Mutual Funds | N/A |
| Funding Sorts | Shares, OTC/Penny Shares, ETFs, Mutual Funds, Bonds, Choices, Foreign exchange, Cryptocurrencies, Futures |
| Accounts Sorts |
|
| Dealer Assisted Commerce | $30 |
| Digital Trades | |
| Buyer Service | Telephone and Reside Chat: M-F 9A-5P ET; Electronic mail |
How Does Public Work?
Public accounts are straightforward and fast to open. I used to be capable of full the brand new account signup course of in lower than 5 minutes.
When you login and fund your account, it is simple to navigate, seek for shares and ETFs, view different customers’ portfolios, and begin buying and selling. Plus you needn’t hyperlink to your checking account to fund your Public account. You need to use a debit card, which is nice for people who find themselves hesitant about linking third-party web sites to their banks.
As of now, Public solely offes particular person, taxable brokerage accounts. There are not any IRA or joint accounts.
You may view fundamental particulars about every supported safety. That features a value historical past, analyst scores and value targets, upcoming earnings occasions, latest information, and fundamental fundamentals.
There’s sufficient data to get you began, however it could be a good suggestion to do extra outdoors analysis earlier than shopping for or promoting. It is nonetheless a whole lot of data for a newbie to digest, however very gentle for an skilled or superior investor.
Themes
The Public.com app organizes shares into totally different investing baskets, or themes. If you wish to spend money on a selected sector however do not know the place to start out, themes assist level you in the precise route.
What’s good about Public is that themes are additionally related to present world occasions and tendencies. Examples of some themes you may discover embrace:
- Synthetic Intelligence
- Blockchain know-how
- Crypto Belongings
- Gaming & eSports
- Inexperienced Energy
- Info Safety
- Plant-Primarily based Motion
- Self-Driving Automobiles
- Area Exploration
- The Metaverse
General, themes present a pleasant stability of tech, monetary, shopper, and health-based corporations. Some themes additionally relate to ESG investing or social points, like public corporations with numerous management or ladies in management roles.
Fractional Share Investing
As an alternative of getting into orders for a set variety of shares, Public allows you to purchase fractional shares, or “Slices.” You may spend money on shares, ETFs, and crypto-all in a single place, which could be very beginner-friendly if you do not have a whole lot of capital to speculate.
For instance, if a inventory prices $1,000 per share and also you wish to make investments $100, you should purchase 0.1 shares. Or if a inventory prices $300 per share and also you wish to make investments $500, you could possibly purchase 1.6 shares. That makes any inventory or ETF inexpensive to nearly any lively dealer or long-term investor.
Understand that Public is not the one investing platform that allows you to commerce fractional shares. You will discover this characteristic with just a few inventory brokers and robo advisors we have reviewed, together with Betterment, M1, Stockpile and Stash, to call just a few.
Nevertheless, Public acquired Otis, an alternate asset fractional share investing platform, in 2022. Sooner or later, this could imply that Public customers will be capable to spend money on fractional shares of belongings like art work, comedian books, sports activities playing cards, NFTs, and different collectibles.
Cryptocurrency Investing
One new Public characteristic is cryptocurrency investing. The app helps over 30 well-liked cryptos, together with:
There is not a minimal investing requirement, so you may commerce crypto with just some {dollars} for those who’re testing the waters.
Like its inventory and ETF investing, Public.com works with Apex Crypto to help crypto buying and selling. This implies Public does not have its personal crypto pockets, so Apex Crypto holds your cash as a custodian. You may promote crypto for money, however presently, you may’t switch crypto you purchase by Public.com to a different pockets.
General, the shortage of a local pockets is a draw back for Public’s crypto investing. It additionally helps far fewer cash than crypto exchanges like Coinbase or Gemini.
When you simply wish to dabble in crypto investing and finally promote your holdings, Public will get the job accomplished. Simply keep in mind you are limiting you choices, and different exchanges like Coinbase even allow you to stake totally different cash to earn passive earnings.
No Commissions
Public does not cost any buying and selling charges or commissions. As with each brokerage, there could also be some small SEC and TAF charges, however most Public merchants will probably be at a low sufficient quantity that they will not ever pay quite a lot of cents.
Public Investor Profiles
Whenever you join a Public account, you create an investor profile with a public username. Anybody within the Public group can view your profile. You can too have a look at different buyers’ profiles for concepts and inspiration.
There are additionally some “movie star” profiles which are straightforward to seek out and consider. As well as, you may hook up with your cellphone’s handle e-book to see if anybody you already know already is on the platform.
In the end, this method helps you discover extra investing concepts and join with different buyers. You need to nonetheless do your individual analysis, nevertheless it’s good to see what profitable buyers are buying and selling.
City Halls
Have a query for a CEO of an organization you’ve got invested in or are desirous about investing in? With Public’s City Halls, you may join with founders and CEOs. These conferences are stay, written Q&As that happen throughout the app.
You can too submit questions upfront and tune in stay to see them answered. The periods are normally scheduled about one to 2 months upfront, so verify on the app to see who’s becoming a member of Public’s upcoming City Halls.
Security Labels
Whenever you go to purchase a inventory or ETF, Public.com could have a label on the product if it is thought-about dangerous by the Securities and Trade Fee. Whereas all shares have a little bit of danger, some are riskier than others and Public.com identifies these which are thought-about very dangerous.
For instance, an organization that filed for chapter has a better degree of danger than an organization that’s making a revenue. Realizing if a inventory is riskier or not means that you can make an knowledgeable choice about whether or not or to not spend money on that inventory or ETF.
Account Safety
Public is SIPC-insured, which signifies that every buyer’s securities funding is protected as much as $500,000. Money quantities as much as $250,000 are additionally coated.
On the tech aspect of issues, Public accounts are protected by bank-grade 128-bit encryption, and all information is secured with Transport Layer Safety.
Public Premium
One new characteristic coming to Public is its Premium subscription that gives extra information and market data to assist buyers make selections. Public Premium goes to value $10 monthly and supplies the next perks:
- In-depth evaluation of various corporations, like earnings experiences or enterprise developments
- Morningstar efficiency information, analysis experiences, and analysts scores for various shares and ETFs
- VIP buyer help for quicker response occasions
The entire extra analysis, metrics, and scores from Morningstar is the true promoting level of Public Premium. This additionally makes Public extra aggressive with the likes of Webull and Robinhood which additionally allow you to pay to get extra information.
Public.com Pricing & Charges
As talked about, Public.com does not cost commissions for buying and selling shares and ETFs. And as an alternative of utilizing Cost for Order Circulate to generate income, it makes use of an elective tipping system to generate income from trades. When Public Premium is obtainable, it would value $10 monthly.
Nevertheless, you may nonetheless encounter some Public charges, particularly for those who commerce crypto:
- Crypto Trades: Apex Crypto expenses a 1% to 2% markup charge for all cryptocurrency trades.
- Home Wire Transfers: $25.
- Returned Verify, ACH, & Wires: $30.
- On the spot Withdrawals: As much as 2% of the quantity with a $0.50 minimal and $50 most.
- Inactivity Charges: $5 per quarter for accounts with lower than $20 in worth and no exercise for the final 90 days.
Crypto charges look like a draw back, however you pay an identical unfold charge with exchanges like Crypto.com or Gemini. If you need a more cost effective option to spend money on crypto, exchanges like FTX.US or Binance.US are higher decisions.
When you resolve to check out Public, simply be cautious of the inactivity charges so you do not throw $20 away.
How To Contact Public.com
You may contact Public buyer help by emailing [email protected]. Alternatively, use the stay chat characteristic throughout the app. Chat help is obtainable from 9:00am to five:00pm ET, Monday by Friday.
Finest Public.com Alternate options
Public is an easy-to-use investing app that is nice for newbies due to its fractional share investing. Its themes and public profiles also can assist level you in the precise route for those who want investing concepts.
That stated, there are different commission-free investing apps you need to use to commerce shares, ETFs, and crypto. And a few Public.com alternate options like Robinhood and Webull have much more investing choices.
Like Public, each Robinhood and Webull provide fractional shares. These investing apps additionally allow you to commerce choices not like Public. And presently, Webull helps each IRA and particular person brokerage accounts, so it has extra account choices than Public. Robinhood can also be rolling out IRA help.
As for easy crypto buying and selling, Robinhood is your only option though it solely helps 11 cash. It’s because it allows you to switch crypto out and in of your pockets. In distinction, each Public and Webull do not allow you to switch crypto belongings.
The underside line is that Public’s promoting level is that it is public; you may be taught from different buyers and use its themes to seek out baskets of shares you are fascinated with. On this sense, it is a wonderful investing app for newbies. However in order for you extra buying and selling choices and account flexibility, Robinhood or Webull are higher decisions.
Plus, Robinhood offers eligible new accounts a free inventory price wherever from $3 to $225. And Webull offers you as much as 5 free shares for opening and funding an account, with shares being price as much as $3,000.
Public additionally offers you a free inventory starting from $3 to $300, so you may attempt every app to seek out you favourite and leverage sign-up bonuses.
Backside Line
Public is a superb place for newbies to start out shopping for and promoting shares if they like an app-based buying and selling expertise. The app removes a lot of the confusion that holds new individuals again from opening a brand new inventory buying and selling account. And for those who’re drawn to the group facet, that might be one other constructive characteristic that attracts you in.
Intermediate to superior buyers will probably discover the choices from Public not robust sufficient to fulfill their wants. And for those who’re critical about crypto buying and selling, exchanges like Coinbase or Gemini are higher alternate options.
General, it isn’t good for everybody, however Public might be a enjoyable alternative for brand spanking new buyers seeking to get began with shares and ETFs.
Disclaimer – Paid non-client endorsement. See Apple App Retailer and Google Play critiques. View vital disclosures.
Funding advisory companies supplied by Stash Investments LLC, an SEC registered funding adviser. This materials has been distributed for informational and academic functions solely, and isn’t meant as funding, authorized, accounting, or tax recommendation. Investing includes danger.
¹For securities priced over $1,000, buy of fractional shares begin at $0.05.
²Debit Account Providers offered by Inexperienced Dot Financial institution, Member FDIC and Stash Visa Debit Card issued by Inexperienced Dot Financial institution, Member FDIC. pursuant to a license from VISA U.S.A. Inc. Funding services offered by Stash Investments LLC, not Inexperienced Dot Financial institution, and are Not FDIC Insured, Not Financial institution Assured, and Might Lose Worth.” as a result of the article mentions the debit card.
³You’ll additionally bear the usual charges and bills mirrored within the pricing of the ETFs in your account, plus charges for varied ancillary companies charged by Stash and the custodian.
⁴Other charges apply to the debit account. Please see Deposit Account Settlement for particulars.
⁵Stock-Again® just isn’t sponsored or endorsed by Inexperienced Dot Financial institution, Inexperienced Dot Company, Visa U.S.A, or any of their respective associates, and not one of the foregoing has any duty to meet any inventory rewards earned by this program.
Advertiser Disclosure – This commercial incorporates data and supplies offered by Robinhood Monetary LLC and its associates (“Robinhood”) and InvestorJunkie, a 3rd celebration not affiliated with Robinhood. All investments contain danger and the previous efficiency of a safety, or monetary product doesn’t assure future outcomes or returns. Securities supplied by Robinhood Monetary LLC and Robinhood Securities LLC, that are members of FINRA and SIPC. InvestorJunkie just isn’t a member of FINRA or SIPC.”
