Public.com Review: Everything You Need To Know About this Investing Platform

The mobile app Public.com provides commission-free stock trading services to beginner investors. Previously known as Matador, the investing app was renamed in 2018 but remained community-based and easy to use.

One of its unique features is the social aspect, which allows users to connect with friends and experts within the community. Despite having a restricted range of account options, Public.com has a reasonable pricing plan that does not impose trading charges or commissions.

This feature makes it an attractive choice for novice investors who prefer interacting with a group of investors and exchanging ideas.

We will take a closer look at Public.com and all that it offers, from usability and features to frequently asked questions. Keep reading and discover whether it is suitable for your investment requirements.

Public.com Review: Pros and Cons

Pros:

Public.com has a social approach to investingOrder flow payments are not accepted at Public.comSimple mobile applicationThere’s a fractional share option available

Cons:

Limited featuresSomewhat limited investment selectionsFew account types

Public.com Review: Is Public.com Right for You?

Established in 2017, Public.com is an investment application offering a range of features such as cryptocurrency trading, commission-free stock and ETF trading, alternative assets, and community trading tools.

It’s available on both iOS and Android but the company added a similar desktop version more recently as well. While we enjoyed what the apps have to offer, it’s fair to say Public.com has work to be done to join the best Forex desktop trading platforms.

The app is designed for DIY traders who prefer self-directed trading over advisor-assisted or automated investing. Public.com has a $0 minimum requirement and allows you to filter investments to match your preferences. However, it may not be ideal for day traders or those seeking exposure to mutual funds or options.

>>Check out the Public.com trading platform here!

Public.com Review: Usability

The Public.com app is designed to be user-friendly and easy to navigate, with a straightforward registration process that involves answering a few basic questions. The process is quick and easy, and once your account is open and funded, you can easily search for stocks and ETFs or view other users’ portfolios.

The platform also includes a news feed where members of the investing community can share insights and ideas on their trades. As said, Public.com has recently added a web version of its trading platform, but it only offers a little additional functionality beyond displaying the same information in a more expansive format.

You can access their recent posts and portfolio by clicking on a user’s account profile. Additionally, you have the option to participate in group discussions, send direct messages, and create your own group chat to connect with other investors. Regardless of how you build your community, you can follow other investors to stay up-to-date on their financial activity.

To find new stocks on Public.com, you have two options: enter the ticker symbol in the search box or check out the various categories created by the platform. These categories include stocks of companies that are reporting earnings, newly listed companies, meme stocks, space exploration stocks, ETFs, and top movers.

Public.com categorizes over 5,000 stocks into different themes, making it easy to browse the list and select a company that piques your interest. The platform furnishes extensive information about each company, enabling you to delve into their histories, reviews, and trends.

Public.com Review: Trade Experience

Much like the best Forex mobile trading platforms, Public.com was exclusively available on mobile devices through its app on iOS and Android. However, the platform now offers a web-based option for purchasing and selling assets.

In contrast to other trading platforms, which often have to compromise when transitioning from desktop to mobile versions, Public.com’s web and mobile platforms are almost identical.

While the web platform benefits from a larger display area for organizing content, the toolsets, capabilities, and trading experience all remain the same. The app did come first and the web platform was developed later, building on its success.

>>Check out the Public.com trading platform here!

Public.com Review: Mobile Trade Experience

The mobile app’s workflow is generally satisfactory, but the trading experience with Public.com is quite simplistic. Advanced features such as personalized trading options, trading via charts, or placing multiple orders are not available.

However, for novice investors who are drawn to Public.com, the process of placing buy or sell orders is straightforward. You can search for the desired stock or ETF and select “Invest,” after which you will be prompted to specify the number of shares or the exact amount you wish to invest.

Public.com greatly emphasizes the community aspect by providing a feed of other investors’ trades and categorized hashtags to offer a continuous flow of trading options. Although not directly related to the trading process, this feature is pivotal in Public.com’s business model and significantly affects the trading experience.

Public.com Review: Range of Offerings

Public.com’s range of offerings is quite limited at present. The platform only provides an individual taxable brokerage account and does not offer joint or retirement accounts, which sets it apart from other brokers in the market.

Additionally, Public.com supports only stocks, ETFs, and cryptocurrency and does not cater to investors who wish to allocate funds to fixed income, Forex, OTC stocks, options contracts, or futures. This means you would have to look elsewhere if you search for the best Forex trading platform for yourself.

However, it does offer fractional shares, which makes it more accessible to novice investors who are interested in expensive stocks. Although Public.com has hinted at adding more assets, the previews suggest that art, collectibles, and NFTs are the most likely candidates.

Public.com Review: Order Types

When using Public.com, the trading functionalities are limited, resulting in a basic order form. For fractional share trading, the order ticket automatically defaults to a market order, while for whole share trading, the options include limit, market, and stop orders.

Unfortunately, there is no option available for tax lot selection. However, if you’re a beginner investor seeking a passive approach, the supported order types may meet your requirements.

How To Open an Account With Public.com

To join Public.com, click the “Sign up now” button, install the app, and input your phone number Put in your real name and a Public.com usernameComplete the application by entering your full legal name, date of birth, email address, address, Social Security number, and citizenship statusConfirm your acceptance of Public.com’s policiesFund your accountPick the ETF or stock you want and start investing

>>Check out the Public.com trading platform here!

Eligibility and Required Information

A valid visa, green card, or citizenship in the United States is requiredA valid Social Security number and a US addressMust be over the age of 18Name of employerHave a pre-existing checking, savings, or brokerage account

Public.com Is Best for Beginners

Public.com has been developed with the needs of novice traders in mind. It provides easy-to-use features, a simple trading system, and zero-commission trades for stocks and ETFs. Additionally, it allows you to trade fractional shares and offers a user-friendly app and interface.

What You Can Trade On Public.com:

Alternative assetsCryptocurrenciesETFsTreasury bills (T-Bills)Stocks

Account Types Available With Public.com

Brokerage

Where Public.com Shines

Public.com has effectively made investing more straightforward for people. Its extensive selection of asset classes sets it apart from other brokers, providing investors with access to various traditional and non-traditional assets through a single trading platform.

Investors can create portfolios of stocks, ETFs, T-bills, crypto, collectibles, art, and they will also have the option to invest in music royalties soon. The platform is straightforward and very user-friendly.

>>Check out the Public.com trading platform here!

Buying Treasuries on Public.com

With a minimum investment of $100 and no set deposit maximums, you can secure a current yield of 4.7% by locking in your investment in Treasury bills.

Known as short-term US debt securities, Treasury bills are considered one of the most secure types of investments, as they are backed by the US government’s full faith and credit. They provide a steady rate of return if held through maturity.

T-Bills offered on Public.com are provided by Jiko Securities, Inc., which is a registered broker-dealer and a member of FINRA and SIPC. These T-Bills are held in custody at the Bank of New York Mellon.

Public.com Premium

For a monthly fee of $8, users can upgrade to Public.com Premium, which provides exclusive and advanced stock research and insights. Additionally, Premium members can enjoy the benefits of access to:

Extended-hours trading: Trade before the market opens (8 – 9:30 AM ET) or after it closes (4:00 PM – 8:00 PM).Expert ratings, reports, and insights: Bull and bear market forecasts for the most traded assets. In addition, you get the analysis and insights of Morningstar analysts.Expanded portfolio management tools: Individualized stock portfolio tracking and alerts that you can set up.Subscriber-only content: Earnings reports, economic forecasts, and other financial data are dissected.VIP customer support: Get entry to a Premium Service Help Desk.

Public.com’s Platform Is Easy To Use

Some of the available trading tools on Public.com include the following:

News feedCompany infoAnalyst ratings and price targetsBasic chartKey metrics

Public.com’s App

The Public.com app is designed to be neat, uncomplicated, and user-friendly for investors. Its primary tabs comprise a portfolio display, a section for discovering assets and other users of Public.com, a news feed featuring live events and educational resources, and a Public Premium tab.

Is Public.com Legit?

Public.com, established in 2019, is a legit brokerage company recognized by the Financial Industry Regulatory Authority (FINRA) as well as the Securities Investor Protection Corporation (SIPC). If Public.com goes bankrupt, its customers are protected by SIPC insurance for their securities and cash, up to a maximum value of $500,000.

>>Check out the Public.com trading platform here!

How Safe Is Public.com?

Public.com is a registered member of FINRA and SIPC, which means that if it faces any major issues, its customers’ cash and securities would be covered under SIPC insurance.

To ensure the safety of its customers’ accounts, Public.com uses advanced security measures such as two-factor authentication and bank-grade AES 128-bit encryption. Additionally, it protects sensitive banking information using TLS.

Public.com Review: Ways To Invest With Public.com

There are a few ways to invest with Public.com.

Stocks and ETFs

Public.com has a selection of over 9,000 stocks and ETFs, providing a wide range of investment options. You can invest in fractional shares (with a minimum of $1) and trade without paying commission through your taxable brokerage account.

Moreover, there are additional tools available that can assist you in selecting the most suitable investments. The “Investing Themes” feature allows you to customize your portfolio based on your preferences.

The “Top Movers” tool also displays the stocks that have experienced the highest or lowest movement during the day, while the “Stock Trends” feature compares the most popular investments.

Public.com is an online platform suitable for active traders who want to manage their investments independently. However, it is even more suitable for those who can take advantage of its community-like investing features. Public.com allows you to make informed decisions by observing the market moves of other traders and public figures.

You can follow different members through the feed to see their investments and share your own investment knowledge and decisions with others. Additionally, Public.com enables you to create chat groups with other investors, participate in investing events and listen to live conversations through the app.

>>Check out the Public.com trading platform here!

Cryptocurrencies

Public.com has expanded its portfolio options by partnering with Apex Crypto, allowing investors to diversify their assets with digital currencies. In October 2021, Public.com incorporated cryptocurrency investing into its platform, offering over 25 options and some of the best coin IRAs you can find out there.

This selection of investment options includes the following:

DogecoinSolanaBitcoinCardanoAlgorandEthereum

When using the Public.com platform to place orders, it is important to note that Apex Crypto is responsible for carrying out the transactions. Additionally, their partner stores your cryptocurrency and applies a 1% to 2% markup on every transaction.

It is important to remember that residents of New York, Guam, and the US Virgin Islands cannot trade in cryptocurrency.

Alternative Assets

Aside from stocks and some of the best meme coins, Public.com has expanded its platform by introducing alternative assets, including contemporary art, NFTs, and collectibles. Each has been thoroughly evaluated, and the platform manages various aspects of the asset, such as storage and authentication.

Although the transaction fee of 2.5% is similar to that of other NFT marketplaces like OpenSea and Rarible, Public.com provides more investment options than most NFT platforms. The new offering allows for easier diversification too, as users now have access to a wider range of investment choices, including stocks, ETFs, crypto, and alternative assets.

>>Check out the Public.com trading platform here!

Where Public.com Falls Short

Public.com’s platform needs to provide advanced charts necessary for numerous active investors and traders. To utilize more comprehensive research tools and insights, you must become a member of Public Premium, which requires a monthly fee of $8.

Currently, Public.com only facilitates brokerage accounts, so individuals interested in margin trading or seeking tax benefits for retirement accounts will have to explore other options.

Public.com Review: Frequently Asked Questions (FAQs)

Still have unanswered questions about Public.com? See if we answer them below.

Is Public.com Legit?

Yes. Public.com is a brokerage fully registered with both the SEC and FINRA in the US, ensuring compliance with all relevant regulations. Additionally, the brokerage provides insurance coverage of up to $500,000 for securities clients hold.

How Much Money Can You Make on Public.com?

The returns on your investment may vary depending on the type of investment you make, such as stocks, ETFs, or cryptocurrencies, as well as the amount of money you invest.

Does Public.com Have Any Fees?

While Public.com provides the facility of buying stocks and ETFs without paying any commission, there might be minor regulatory charges that you may have to pay while selling them. For instance, you will have to pay an SEC regulatory fee of $5.10 per $1 million on sell transactions and a trading activity fee of $0.000119 per share on sells.

Public.com Review: Bottom Line

Public.com is an excellent platform for investors who actively trade and want to invest in stocks, ETFs, and cryptocurrencies. It provides access to the knowledge and insights of other Public.com members, making it an excellent choice for those seeking expert guidance and a social approach.

Moreover, Public.com offers various educational resources, including live events, which could benefit beginners looking to start their investment journey. It feels like a great place for beginners to start although it may feel somewhat limited with features as you develop.

>>Check out the Public.com trading platform here!

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