Public.com
Public.com is a leading trading platform that allows you to invest in stocks, bonds, options, ETFs, crypto and alternative assets, all in one place. The user-friendly investing platform offers access to both traditional and alternative assets like fine art and collectibles, making it easy to build a diversified portfolio.
- Pros
- Allows you to invest in traditional and alternative assets
- Has low trading costs
- Offers a high-yield cash account, Treasury account and bond account
- Easy to use and ideal for beginners and advanced investors/traders
- Executes trades at the best price for traders (no PFOF on standard equity trades)
- Cons
- Does not support margin trading, mutual funds, or IRAs
- Cannot transfer crypto to another wallet
- Poor educational content
But, what is Public.com and is it suitable for your trading needs? The trading software provides access to custom company metrics and live data from markets around the world. Public investing offers a high-yield cash account and it’s easier to make trading decisions through the AI-powered data and analysis. There are no commissions on stocks, ETFs and options trades, and investors can enjoy an option rebate program rewarding per contract. The platform is beginner-friendly and best for multi-asset investing.
In our Public review, we dive into the features, pros and cons of the trading platform. We will also answer questions that you might have in mind, like is Public.com legit, is Public.com safe, and is Public a good investing app? Continue reading to learn more and to make up your mind if this trading platform is for you.
Features of Public.com
Before you sign up on the Public investing platform, you should keep the features in mind and understand how it stands out.
Investment Offerings
One of the ways that the Public brokerage stands out is with its multi-asset investment offerings. Public.com allows you to trade in stocks, ETFs, options, cryptocurrency, treasury bills, and alternative investments. But, there are no mutual funds, futures and forex on the trading platform.
1. Stocks and ETFs
Public.com offers a wide range of stocks and ETFs for traders to access. To make things better, the Public trading app organises all the stock options according to themes and their firms like green power, reuse and reduce, meatless revolution, cannabis, self-driving cars and water works.
Users can trade in over 300 OTC stocks on the Public.com app, but there are no penny stocks available. All stock trades come with a $2.99 fee but this can be avoided by subscribing to the Premium membership tier.
2. Bonds and Options
Public.com also offers bonds and options for a competitive price. To buy bonds, you can purchase corporate bonds, treasury bonds and municipal bonds. The Public trading app or website allows you to calculate your yield automatically. You can view a full analysis of all the bonds on the market in one look and use it to diversify your portfolio.
The bonds help you generate a fixed income that would mature at a particular time. The options at Public.com come with no per-contract fees or commissions. This significantly reduces all transaction costs.
3. Cryptocurrency
The Public brokerage partners with Bakkt Crypto, previously known as Apex Crypto. Investors can trade Bitcoin, Bitcoin Cash, Ethereum Class, Ether, Dogecoin, Litecoin and Shiba Inu. Traders that reside in New York can only trade Bitcoin, Bitcoin Cash, Ether and Litecoin.
To trade cryptocurrency, you need to open an account with Bakkt Crypto as all the services are provided through this platform.
4. Alternative Assets
Unlike most trading platforms, Public.com offers alternative assets. This allows you to invest in fractional shares of physical assets like rare sneakers, mint condition trading cards, comic books, and vintage video game cartridges.
Many of the alternative asset options have strong returns with a low correlation to the stock market. Since these kinds of assets are scarce and expensive, the Public investing platform fractionalized them, making them fully regulated securities qualified by the SEC.
5. Treasury Bill Investment:
Our Public review won’t be complete without exploring their treasury bill investments. Customers can invest as low as $100 in a managed Treasury bill account. The yield does not include the management fee of 0.05% per month.
Fees and Commissions
Next on our Public investing app review is the fees and commissions that customers need to pay. Public.com has a unique pricing model as you have to subscribe to the premium tier for the account and research services that are normally offered for free. But, you can also avoid some fees when you sign up for the premium plan.
Public Premium:
Public Premium costs $10 per month and allows you to unlock advanced tools for trading and research. On the paid plan, you get access to advanced company data, charts and market metrics. There are also tools like research reports, subscriber-only content and analysis. Traders can use portfolio management tools to set price targets and handle their different assets. Premium users can benefit from extended trading hours and VIP customer support.
Stocks and ETFs:
When investing in stocks and ETFs on the Public trading app, you have to consider the OTC trading fees, extended-hour trading fees and transaction fees. All these fees can be avoided at once by signing up for Premium.
Cryptocurrencies:
Public.com does not have a clear overview of cryptocurrency transaction fees. The fees are organized in tiers based on trade size. The minimum fee is $0.49 for a $0.1 trade while for trades at $500.01 and above, the fee is 1.25%.
Alternative Fees:
On each alternative share trade, there is a 2.5% fee on each side. The shares can only be traded on Public.com. Assets that have an initial offering on Public come with an average markup of 5%. Another fee is the 2% annual fee for non-cash-flowing assets. Keep all the fees in mind before investing in alternative assets on the platform.
Inactivity Fees:
When using the Public.com app or website, you need to consider the inactivity fee. When there has been no activity in 90 or more days, you need to pay inactivity fees. The fee is $5 every six months when the account is $20 or less.
Other Fees:
There are other fees to keep in mind when using Public.com. You can ask for a loan when using Public, but you need to pay a 3.5% for instant transfer of funds. This is higher than other platforms. If you want to get paper account statements, you need to pay $5 for each one.
Usability and Tools
When considering the Public investing review, it’s essential to look at the ease of use and tools that enhance your experience. It’s easy to open an account on Public.com and navigation is simple. But, when you sign up for the Premium plan, you get access to many other options and buttons which might be difficult to navigate.
Once you sign up, you can expect a lot of notifications including emails and banner notifications. It’s easy to turn off notifications but you have to check the settings on mobile and web. There are several features available on Public.com.
Advanced Data:
When using Public Premium, you can take a deep dive into advanced data of the companies that you want to invest in. For instance, you can view data like the Tesla vehicle deliveries, AMC theater attendance, and Apple product sales. By knowing all the data on the company, you can decide whether you want to buy the stocks or not.
Expert Analysis:
The Public brokerage works with Morningstar to provide institutional-grade research. You will be provided with different information on the stocks, company information, competition and strategy. Downloadable reporting is also available on the research.
Portfolio Management:
Public.com offers tools for portfolio management, making it easy for traders to organise their investments. You can classify your securities based on sector or strategy and measure performance. There are also tools to set price alerts for stocks and cryptocurrencies.
Customised Investment Themes:
While managing your portfolio, Public.com allows you to choose a wide range of investment themes. You can choose your investment philosophy and buy stocks based on your goals and ethics. There are themes for environmental, social and governance (ESG) like Combat Carbon, Green Power, Women in Charge and Fighting Disease.
User Community
Our Public trading app review features an active social community that makes it easier to use the platform. Users can share their buys and sells, and watch lists with each other. Tipped trades are also flagged with badges. Users can post, reply, follow and directly message each other, but it’s important to protect your information and avoid sharing it with users that you find on the platform. Direct messaging is risky and comes with a risk of being scammed.
Research and Education
An important part of the Public brokerage review is the research and education section. This makes it easy for traders to stay updated with the latest data and information related to trading markets, and you can make better decisions.
News Feed:
One of the highlights of using Public.com is the news feed, which offers live market data for all the traders. It gets headlines from some leading platforms like Wall Street Journal, CNBC and Barron’s. But, keep in mind that some sources require a subscription to read the entire article so you will only see the headline. Also, there’s no doubt that there would be some less reliable news sources in the feed.
Public Live:
Public.com has a podcast called ‘The Open,’ which is streamed right before the opening of the market. It’s a popular market podcast that investors and traders can take advantage of, especially beginners. The host is Ann Berry, and has been praised by users for being credible and insightful.
YouTube Channel:
Another benefit of the Public trading app is the YouTube channel. Public offers a well-stocked channel that you can find by searching for ‘Public App’. Then, you can watch high-quality videos, many of which are also hosted by Ann Berry.
Education:
Public.om does not have a top-notch education section like other trading platforms, especially when comparing Public vs Fidelity as the latter is known for its thorough materials or Public vs Robinhood which has beginner-friendly material.
When using the Public.com app, you can access educational videos. The videos are interesting but not very informative, so it’s best not to rely on this when looking to make trading decisions.
The Public investing platform also comes with webinars that traders can use to learn from reputable investors. You can register for the webinars before they start, some of which are listed and scheduled. It might be hard to get the recordings so it’s best to watch them live.
There are many articles available on Public.com when you check the education section. Users can read different articles and learn from the investment glossary, which is suitable for beginners. But, many of the articles are not comprehensive so do further research before making an investment.
Who is Public.com Best For?
When reading this Public review, you might be wondering whether the trading platform is suitable for you. Public is a reputable and well-known platform that offers free stock and ETF trades. It also gives traders access to cryptocurrency, alternative assets and bonds, as well as a high-yield savings account.
Public.com is suitable for options traders, because it even allows traders to get paid while investing in options. Traders can get rebates on their options transactions, between $0.06 and $0.18. Alternative asset investors can take advantage of the Public.com app, as it offers an easy way to invest in artworks, mint condition cards, sneakers, and more.
You can build a diverse portfolio using the Public investing platform, with access to stocks, bonds, options, ETFs, Treasuries, royalties, crypto and high-yield savings accounts. Investors that are looking to easily diversify their assets can also consider this brokerage because it comes with features for categorizing securities by sector or strategy, and more.
But, those who want to trade in margin accounts, retirement accounts, international accounts and custodial accounts shouldn’t consider Public.com. The Public brokerage does not come with retirement accounts and is not accessible to non-US investors or minors. No margin trading is available on the platform too.
Pros and Cons of Public.com
Here are some reasons why you should consider using Public investing and the downsides of the platform.
Pros of Public.com
Public.com features a broad investments lineup, affordable trading costs and transparency.
1. Traditional and Alternative Assets
The Public trading app and web allows you to invest in traditional and alternative assets, suitable for anyone that is building a diversified portfolio. It has a growing list of assets, which gives it an edge over other brokers. Investors can access traditional and alternative assets in one platform.
2. Low Trading Costs
You can trade stocks, ETFs and options without paying a commission. This makes Public.com one of the few brokers that does not charge fees on per-contract options. Some platforms charge a fee of $0.65 instead. Public also offers rebates on options trades.
3. High-Yield Accounts
Public.com also offers a high-yield cash account, Treasury account and bond account, which are three ways to earn high yields on your investments. The high-yield cash account offers a 4.6% APY with no subscription fees or minimum balance requirements. There are also unlimited transfers and withdrawals. For short-term investments, consider Treasure bills which allow you to invest with a minimum of $100 and earn up to 4.41%.
4. Easy to Use
The Public trading app is pretty easy to use with a user-friendly platform that is ideal for beginners. Traders can take advantage of tools like key metrics, news feed, basic charts, advanced charts, earnings and financials, research reports, AI-powered insights and analyst ratings. The mobile app is simple and easy to navigate. On the app, you access tabs like a portfolio view, news feed, a section for exploring assets, live events and educational resources.
5. Transparency
One of the highlights that you might have noticed from Public.com reviews is that the platform does not use the payment for order flow (PFOF) practice on standard equities trades. So, Public executes trades at the best price for traders.
Cons of Public.com
Still, there are downsides to using Public.com that you should keep in mind.
1. Margin Trading and Mutual Funds Unavailable:
Public.com does not support margin trading, mutual funds, or IRAs. It is also lacking precious metals. While you can trade crypto, you can’t transfer it to another wallet.
2. Educational Content is Poor
The educational content on Public.com is hastingly written and poor, so it’s not recommended to rely on this solely for your research.
Public.com Alternatives
Robinhood vs Public.com
If you’re considering alternatives, you can compare Public vs Robinhood. Both platforms offer fractional share trading, charge no commissions for buying stocks or ETFs, and have no account minimums. The platforms also offer seamless mobile trading and easily cater to beginner investors. If you’re interested in trading bonds or you want to invest in collectibles, then Public.com might be suitable. But if you prefer to open IRAs or you want to trade crypto cheaply, Robinhood is a better option.
Fidelity vs Public.com
You might also consider comparing Public vs Fidelity, both of which are zero-commission brokers. Fidelity comes with a wide range of investments, a great selection of account types, and international stocks. It also comes with mutual fund trading, which is a benefit over Public.com. Fidelity also offers comprehensive research tools, which makes it better than Public.com in that aspect. Still, Fidelity is quite overwhelming with its features, so it’s unsuitable for beginners.
Final Thoughts
Public.com stands out as one of the leading platforms to build a diversified portfolio of securities, with no stock trading fee or minimum deposit required. The trading platform is user-friendly and easy to navigate, with access to both traditional and alternative assets. Public.com is probably the only broker with an option rebate program. Still, the platform does not stand out in terms of educational content. In general, it’s a beginner-friendly trading platform that is suitable for multi-asset investors.
Frequently Asked Questions
Yes, Public.com is legit. Public is a member of FINRA and uses SIPC and FDIC insurance. It is a legitimate platform for making trades and will keep all investor information safe. It also uses bank-grade encryption to protect all your personal information. Accounts are insured for broker insolvency but not market losses.
Absolutely, Public.com is safe to use. The platform will keep all your information and investment funds safe and secure. Using bank-grade security, it features AES 256-bit encryption and TLS 1.2 to secure data. All members automatically qualify for protection on up to $500,000 in their account.
Public is a good investing app for all traders, especially beginners. If you’re an active trader that wants to invest in stocks, ETFs, crypto, bonds and alternative assets while using the expertise from other Public members, then Public is suitable for you.
Public.com makes its money in different ways, like the Premium paid version. There’s also an optional tipping feature, a fee of 2% on instant withdrawals, the securities lending program and interest on ash balances. All of these allow Public.com to earn money from its users.
