Overview
Public aims to democratize investing by offering a comprehensive platform suitable for both beginner and intermediate investors. Founded in 2019, the platform quickly established itself as a pioneer in fractional investing and has since expanded to include a wide array of assets such as stocks, bonds, ETFs, crypto, and US Treasuries. Public’s mission is clear: to offer accessible investment opportunities to all.
Its unique approach combines a community-driven experience with educational tools, allowing investors to share insights and strategies. Compared to giants like Robinhood and Fidelity, Public stands out by offering a rich selection of assets and a community feature that encourages learning and sharing among users.
However, advanced features like options trading only launched in 2024, and some investors might find its execution capabilities lacking for high-frequency trading. Nevertheless, Public is an appealing choice for those who value a straightforward, fee-transparent investing platform.
Fees and pricing
Public markets itself as a commission-free platform, appealing to cost-conscious investors. This means investors can trade stocks, ETFs, and crypto without paying commission fees. Such a structure aligns with industry trends, as major competitors like Robinhood and Webull also offer zero-commission trades.
However, Public offers a subscription tier, Public Premium, which requires a monthly fee. This premium provides access to more advanced analytic tools and institutional-grade research, which might appeal to those who need deeper insights but otherwise isn’t necessary for casual traders.
Here's a quick fee comparison:
| Fee Type | Public | Robinhood | Webull |
|---|---|---|---|
| Stock/ETF Commissions | $0 | $0 | $0 |
| Options Per Contract | Soon-to-announce | $0.65 | $0 |
| Crypto Commission | $0 | 1% | 1% |
| Transfer Out Fee | Not disclosed yet | $75 | $75 |
Public distinguishes itself with its high-yield cash account, offering a 4.6% APY with no fees or balance requirements. This is compelling for investors looking for a safe place to park cash, especially with higher insurance cover compared to typical offerings.
Trading platform and tools
Public offers a sleek, user-friendly platform that works seamlessly across desktop, web, and mobile environments. The platform is devoid of complex jargon and focuses on ease of navigation, which makes it particularly appealing to newer investors.
Their desktop and mobile apps feature essential charting tools and market data, though they lack some of the more intricate functionalities seen in TD Ameritrade’s thinkorswim or E*TRADE’s platforms. The introduction of Alpha, an AI-powered assistant, helps bridge this gap by offering insights into assets using historical and real-time data.
While the platform is not as customizable as some competitors, for those looking for straightforward investment tools with a community aspect, Public remains a strong candidate.
| Feature | Public | TD Ameritrade | E*TRADE |
|---|---|---|---|
| Commission-free Trading | Yes | Yes | Yes |
| Fractional Shares | Yes | No | Yes |
| AI Research Assistant | Yes | No | No |
| In-depth Technical Charts | No | Yes | Yes |
Range of investments
Investors using Public can access a diverse range of assets. The platform supports trading in stocks, ETFs, crypto, and an array of bonds, including corporate and municipal bonds. The addition of crypto trading in 2021 broadened investment options significantly; users can trade popular assets like Bitcoin and Ether alongside traditional securities.
Public also introduced Treasuries trading in 2023, allowing members the benefits of secure yield and automatic reinvestments. While Public is expanding its offerings, it still lacks exposure to mutual funds and futures, which might be a dealbreaker for some users.
In comparison, platforms like Fidelity offer mutual funds and a wider variety of futures, making them better suited for truly diverse portfolios.
Research and analysis
Public has invested in providing robust research and analysis tools, especially for Public Premium users. These users gain access to institutional-grade analysis, detailed performance metrics, and AI-powered insights.
The launch of Alpha provides real-time and historical data-driven insights, distinguishing Public from others. While these tools are sufficient for most investors, those requiring extensive technical indicators and expert analysis might still prefer platforms like Morningstar or TD Ameritrade. Nonetheless, the community feed is a real asset, enabling users to gain insights from fellow investors.
Mobile experience
The mobile app experience on Public is noteworthy for its usability and intuitive design. The minimalist interface does not overwhelm users with data, making it easy for beginners to manage their investments on the go.
Features like the AI assistant, fractional investing, and instant alerts ensure investors stay informed with minimal hassle. However, its limited customization and fewer technical analysis tools compared to competitors like E*TRADE could be a downside for those who rely heavily on data-driven decision-making.
For quick trades and managing multiple accounts, Public’s app remains a strong choice.
Account types and retirement
Currently, Public caters to a variety of account types, including individual brokerage accounts and IRAs. This is ideal for personal investing and retirement planning.
Despite offering several types of accounts, Public’s lack of Roth and traditional IRA fee waivers might deter those looking to consolidate multiple retirement accounts on a single platform. Public does provide a Crypto IRA option, which is quite rare among its competitors, allowing those interested in crypto to diversify their retirement investments.
In contrast, full-fledged retirement offerings are more comprehensive on platforms like Vanguard, especially with their extensive mutual fund options.
Who should NOT use Public
Public is not suited for all. Investors who prioritize heavy data analysis, technical trading, and advanced options strategies might find the platform lacking. Advanced tools seen in TD Ameritrade’s thinkorswim or E*TRADE’s platforms outshine Public’s capabilities, providing extensive research and technical analysis tools essential for seasoned traders.
Additionally, mutual fund investors will find Public unsuitable since it does not support mutual fund trading. Instead, platforms like Fidelity or Vanguard offer a richer selection in this asset category.
If customer service and in-depth support are prerequisites for your trading activities, consider an alternative with advanced customer support features.
The bottom line
Public is a robust platform for newer investors or those with straightforward trading needs. Its strength lies in offering a broad range of assets with no commission fees and a community-based experience. The introduction of AI-driven insights helps it stand out among casual investors.
However, it's not ideal for advanced traders demanding intricate charting and analysis tools or extensive mutual fund options. For mutual fund inclined investors, Fidelity remains a better bet.
Consider Public if you want a cost-effective, easy-to-use platform with a focus on community learning. Those in need of advanced trading features should look towards competing products for more comprehensive solutions.
