Stocks can be quite confusing for newbies because there’s a lot to learn before making trades on the stock market. However, apps like Public.com provide a simple, streamlined, and informative service to ensure that everyone can be an investor. Keep reading to get the full scoop on this service in our Public.com review below.
Overview: Public.com App Review
The Public App is an excellent option for new investors who want to learn as they build their portfolios.
With free trades and no account minimum, Public.com is the best place to start if you want to invest in stocks.
Public makes it easy to tap into a large community of investors’ collective wisdom while developing your financial literacy.
The app is available for both iOS and Android.
Additionally, it’s designed to appeal to beginners as well as sophisticated traders.
Public wants everyone to get a slice of the investment pie, and one of the best ways is through learning to day trade.
Currently, the app offers only individual and taxable brokerage accounts.
You’ll get real-time details (such as price history, analyst ratings, price targets, recent news, upcoming events, etc.) about each supported security.
Public.com does not have a desktop program; instead, it’s a commission-free trading app that doubles as a quasi-social media platform.
More on the Public Investing App
Public.com works perfectly for iOS and Android, so your device is all you need.
Although it has a generous commission schedule, the app lacks several crucial features.
For instance, there isn’t complex trading happening on the site.
While this may turn some traders away, there are loads of other features that counterbalance this con.
Public does allow you to use fractional share investing in stocks and ETFs so you can trade in dollar amounts.
Aside from this, Public.com comes with a wide variety of features.
The goal is to make the markets accessible to anyone willing to start, unlike full shares of expensive stocks.
Users can build a diversified stock portfolio without buying whole shares of expensive stocks like Amazon, Google, or even Apple.
This Public.com app review article will look through its features and everything that makes the app relevant and accessible.
We will also go through everything you need to get started, so sit tight and enjoy!
Public.com Review: Features
It is essential to do your due diligence before making any kind of investment.
That being said, with the research done by this Public.com review, you can trust that your money is in safe hands with this service.
Also, compared to other investing apps, it’s refreshingly easy to open an account with Public.com.
Complete the sign-in process in a couple of minutes, find your account and start navigating stocks and ETFs.
Public’s social aspect is a great way to view users’ portfolios and know what others are buying.
Below are some other cool features of the app.
Public.com App Review: Public.com Themes for Stocks and ETFs
One of the best of the best features of the app is the themes.
Themes allow users to explore stocks without the typical jargon.
Also, with themes, you can discover stocks and funds according to their respective categories; for example, you can see the proper classification of different stocks and ETFs.
This way, you can make informed decisions on the most promising companies to invest in.
In line with Public.com’s mission to make investing accessible to everyone, the website offers fractional shares.
This allows users to buy fractional shares and own little portions of any stocks or ETF on the trading platform.
With as little as $5, you can get started and purchase holdings in multiple companies.
Most investing platforms don’t execute orders immediately.
However, users of Public can trade and execute orders directly.
So if you want to invest, this is an excellent way to take advantage of fluctuations in buying or selling shares.
With Public.com, users have a wide range of investment options, which are perfect for day trading.
With more than 3,000 stocks and ETFs available on the app, it’s a great place to build a portfolio.
All of the available shares are publicly traded on major U.S. markets.
This is a great way to secure investors and avoid overly risky investments.
Using the themes option, you can find investments that will fit the kind of investment portfolio you’re building.
This is one of the most unique features of the app.
It puts a social media feel on stock trading and helps you connect with several other investors.
You can see what your friends are investing in and share thoughts on your profile page, similar to Facebook and Twitter.
Public allows you to follow other investors and see their portfolios while sharing ideas and insights.
There is also the community feature that allows you to communicate with other investors.
With this feature, trades are posted on the community forum for other users to like and comment on the trade.
This opens up discussions around the advantages or disadvantages of trades.
With many social features, Public.com is a great way to learn and grow, even as you build your investment portfolio.
Another solid social feature with Public is the fact that you can gift shares to family and friends.
Lastly, Public offers everyone in the U.S. (even non-users) a referral bonus of up to $50 (in stocks).
This feature is a great way to stay in the know about current market movements.
It will help you track stocks with the most significant price fluctuations in both directions.
With this feature, you can monitor markets and see the winners and the losers, so you can watch positive momentum and make smart investment decisions.
Looking to get professional advice from financial experts and professional advisors?
Public also hosts regular virtual events where experts share their views about the markets and a host of other interesting financial topics.
This is a great way to keep people informed by breaking down complex financial issues.
Check the firm’s official website to sign up for an event or browse through the list of upcoming events.
If you have any unanswered questions about the stock market, then you will love this feature.
In this section of the app, Public.com provides answers to some of the most frequently asked questions about investing.
The feature is also a great way to find the best time to buy or sell a stock or how to calculate dividends.
Learning on Public is focused on three major areas: investing, stocks, and retirement planning.
Ticker Time Machine (TTM)
One common question that keeps investors up at night is “How much money can I make from this stock over a set period of time?”
With the Ticker Time Machine, you can check how many dividends you’ll receive from investing in a stock at a particular time.
New investors love this option because it allows them to estimate and foresee the future of their investments.
Pricing and Fees
Trading through the Public app does not require any fees, and users can access U.S.-listed stocks and ETFs for free.
However, broker-assisted phone trades require a flat fee of $30 per transaction.
Also, there is a $30 charge for an outgoing domestic wire transfer, and it costs $35 for domestic overnight check deliveries.
Returned checks, ACH, wires, and stopped payments all attract small fees too.
Public does a lot to entice beginners, and the commission-free factor has been crucial to this.
The app does not charge trading fees or commissions; however, there may be minimal SEC and TAF fees that mostly total a few cents.
Everyone gets a Public investor profile after signing up for a Public account.
With this profile, everyone on the app can view your profile.
This is a great way to find and connect to a community of investors.
Not only can you grow with a community of investors, but Public.com also allows you to learn from famous investment experts.
You can also connect with people you know via your phone’s address books.
One of Public’s core tenets is security and trust.
The brand does its due diligence to ensure that users’ money is as safe as can be.
Advanced Encryption Standard (AES) and Transport Layer Security (TLS)
Public protects accounts with AES 128-bit encryption and TLS 1.2 to safeguard data.
Although stocks can be generally risky, Public.com identifies ones that are too risky and labels them.
When buying stocks or ETFs, Public puts labels on any products that are considered too dangerous by the SEC to keep you safe.
Also, the company is insured by the securities insurance protection corporation (SIPC); this means that each customer’s investment is protected up to $500,000.
Public.com is also a member of other regulatory bodies like FINRA and the SEC.
For every new account that is opened on the investing app, you get $5 to put toward any stock of your choosing.
Also, you get additional free shares when you invite friends to open a Public.com account.
You can even use this $5 to get a free slice of stock if you want to take the fractional route of investment.
Public.com Review: Customer Support
There are several ways to get in touch with the team at Public.com.
You can start by checking the platform’s dedicated FAQs that handle the most common issues that users have on the app.
There is also a web-based live chat available to all registered users on the app.
This chat works between 9 am – 5 pm EST.
To access the messaging feature, click on the “account” icon in the menu and then click on “customer support.”
You can also reach the broker at email@example.com or contact their physical addresses in New York.
Public.com App Review: Pros and Cons
- Public accounts are safely protected in the clouds
- The app uses 128-bit encryption and Transport Layer Security (TLS) to secure data
- Allows users to invest in high-priced stocks through the purchase of fractional shares
- Public.com allows you to create a network of fellow investors, and this fosters growth
- The app is accessible, and it has an easy-to-use interface that makes it easy to start investing
- You can use your debit card or credit card to fund your investment account if you don’t want to link your bank account
- The lack of web-based or desktop trading platforms is limiting
- Public.com is limited to U.S. stocks or ETFs
- Users cannot buy from foreign markets
- Currently, the app does not offer margin or retirement accounts
- Only stocks and ETFs are currently available on Public.com
- There are no mutual funds or derivatives like futures or options
- Although there is a small graph inline format, the app is limited to chart and research tools
- Setting up an account requires personal info, such as phone number, social security number, working status, and more.
Public.com Review: Final Thoughts
Investments are a driving force for wealth creation and prosperity, so it’s important that you have the tools and access to a platform that supports your growth as an investor.
Unfortunately, most people don’t invest in stocks due to a lack of financial literacy, which means that uninvested cash sits around and does nothing when it could be used for so much more.
By offering investors the ability to trade, communicate with other traders, and learn through educational resources, this app truly is an all-in-one trading platform.
Trade, Talk, and Learn with Public.com’s Intuitive Trading Platform
The company focuses on building financial literacy and diversifying your portfolio.
Public makes stocks social and makes it easy to tap into the collective pool of wisdom available by combining social media and stock investing.
This is a perfect place to start if you’re looking to join an inclusive and educational community of investors and financial experts.
You can collaborate and build your confidence all within the confines of a mobile application.
Safe, Secure, and Reliable Trading
Public.com has been registered with the SEC since 2004.
However, the company was previously known as Matador until 2017, when Public started operations, so it has been around for a while.
Even though Public.com is a relatively new name, the company has been in the securities business for close to 2 decades.
The company is in line with U.S. standards as far as security and encryption are concerned.
We found Public to be a transparent and very secure investing platform.
There have been little or no complaints about the brand’s reputation during its time operating in the financial sector.
All in all, for our Public.com review, we’re concluding that it is a high-quality service built to provide everyone access to the stock market.