Public.com Review 2024


2.4 / 5
Public.com is #142 in our broker rankings.

Public.com is good for beginner traders and casual investors looking to buy and sell stocks with zero commissions. However seasoned traders may be disappointed by the lack of advanced analysis tools.

- Daytrading Review Team

Public.com is a US broker that offers trading opportunities on stocks, ETFs and cryptocurrencies, with 9000 tradeable instruments and social investing. The company is registered with the SEC and FINRA. Over three million users have joined the active investing community.

$0
Own
Stocks, ETFs, Cryptos
-
USD
Cheque, ACH Transfer, Wire Transfer, Debit Card

Stock Trading

Clients can speculate on thousands of popular shares, including 300+ OTC stocks. The no-frills app offers a straightforward interface to buy, hold and sell popular equities.

Crypto Trading

Public.com offers cryptocurrency investment services alongside its traditional features, offering 29 popular tokens. Crypto investing is supported through Bakkt Crypto, a US licensed custodian.

Copy Trading

Public.com offers an interactive copy trading service via its mobile application. The social investing community has millions of members that share ideas, tips and strategies.

✓ Pros

  • Zero-commissions and low fees
  • Excellent social trading solution
  • No minimum deposit for new traders
  • Trustworthy, SEC-regulated investing app
  • Excellent and user-friendly educational content
  • Automated investing options for casual traders
  • Good selection of tradeable assets with 9000+ stocks

✗ Cons

  • Only available to US residents
  • No futures, options or other derivatives
  • Limited charting and analysis tools
  • No leveraged trading
  • No after-hours trading

Public.com is a unique American broker that combines investing and trading services with social media systems to help users expand their knowledge bases and interact with a community of like-minded people. The firm boasts more than a million customers and almost ten thousand stocks, ETFs and cryptocurrencies. This 2024 Public.com review will explore the pros and cons of the firm, detailing its mobile app, fee structure and additional features.

Public.com Headlines

Public.com is owned by Public Holdings, Inc., which was founded in the USA in 2019. Its office headquarters are in New York and it was founded by Jannick Malling, Matt Kennedy, Peter Quinn and Sean Hendelman. The broker’s leadership team includes Jannick Malling, the current CEO, alongside Leif Abraham, the co-CEO.

Public Holdings, Inc., is a private FinTech company and does not have a share price. Moreover, its revenue, business model, market cap, net worth and any valuation information are unknown. Public Holdings, Inc. has several owners, with notable investors including Accel, Greycroft, Lake Star, Will Smith and Dick Parsons.

Public.com’s mission is to ensure investing opportunities can and are paired with new means for educating yourself on your speculation journey. The broker has been featured by various news outlets, such as Forbes, WSJ and Variety.

Public.com has a user base of over 1 million people and is a rapidly growing platform.

Trading Platform

The full Public.com trading experience is only accessible via its dedicated mobile app. The broker is also developing a web app that is in its beta development stage. However, it is not fully operational and many features, such as limit order capabilities, are not currently included. There is also no desktop trading system.

Fortunately, the mobile trading platform is easy to use and offers some sophisticated features, including advanced analytical tools, graphing options and visualisation features. The interface is accessible to newer investors while incorporating aspects of complexity and sophistication that many experienced clients will appreciate.

Asset Range

Public.com only offers equity trading and investment opportunities. Derivatives, such as futures, options and CFDs, alongside debt trading, are not offered.

However, securities can be purchased in stocks, ETFs and cryptocurrency assets, with the full list regularly updated. Each instrument displays safety labels, which detail additional context regarding the risk level of the asset.

Public.com US stocks & crypto mobile trading platform

Over 9,000 stocks and ETFs are on offer, with new IPOs and SPACs added regularly. Public.com also provides opportunities for fractional share investing via what it calls slices. Dividend reinvestment opportunities are also offered, though over-the-counter (OTC) stocks are not.

Public.com offers 25 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Shiba Inu (SHIB) and Cardano (ADA) via Apex Crypto. The Public & Apex Crypto platform allows clients to buy, sell and hold crypto, though it does not provide individual crypto wallets.

Leverage & Commission

Public.com is a 0% commission broker, providing a free investment service much like competitor Robinhood. The broker does not offer margin trading.

Mobile Trading

Public.com’s mobile application is its predominant platform offering. The app is free to download for iOS and Android (APK) devices via the App and Play Stores. Clients can access a range of analytical tools and both social and educational features through the platform. Account setup is simple and the overall experience is functional and accessible.

The trading app has a 4.5 rating from over 31,000 reviews on Google Play and a 4.7 rating from 40,000 on the App Store.

Payments

Public.com accounts can be funded via a range of funding and deposit methods, including ACH transfer, wire transfer, debit cards and Braintree. However, credit card payments are not supported. There is no minimum deposit limit, so anyone can get started with as little as $1, though debit card payments are capped at $1,000.

The broker also offers 2.5% interest on all invested deposits up to $10,000.

Debit card deposits must be held for at least five business days before they can be withdrawn, though transactions tend to be within 24 hours outside this remit. There are no minimum or maximum withdrawal limits, though funds can only be withdrawn to a bank account that matches your Public.com account.

The broker charges a range of fees for its transaction services, listed below:

There are also charges if you transfer your portfolio to another brokerage.

Regulation & Licensing

Public Holdings, Inc. is a member of the Securities and Exchange Commission (SEC) as a broker-dealer with certificate number 8-66049. The broker is also a member of the Financial Industry Regulatory Authority (FINRA), certificate number – 127818.

Public.com is a member of the Securities Investor Protection Corporation (SIPC), meaning your account is protected for up to $500,000. SIPC is a congressionally mandated, non-profit corporation that provides customer insurance for investment accounts. The broker’s clearing firm, Apex, has an additional insurance policy through a group of London Underwriters (with Lloyd’s of London Syndicates as the Lead Underwriter) to supplement the SIPC protection.

Additional Features

Trading Account

There is only one brokerage account available to Public.com users, which has both taxable and savings accounts. However, the firm does not support IRAs.

There are no account minimums and the firm does not have any paid-for premium features, though it is looking to introduce advanced new products that may incur a subscription fee.

Clients can only have one open account at any given time, though it is possible to have several individual portfolios within that, including long-term investment portfolios.

Setting up a Public.com account requires the following:

If you have investments with another brokerage, you can easily transfer them over without selling your positions or incurring any tax implications.

Benefits

Drawbacks

Trading Hours

The Public.com trading app is available 24/7, though after-hours trading for stocks and ETFs is not supported. However, clients can still place orders that will be executed when markets reopen.

That being said, crypto investments are supported 24/7 as cryptocurrency markets do not close.

Customer Support

Support is helpful, reliable and responsive. It is possible to chat to the Public.com customer service team via email, webchat, application live chat, phone, mail and social spaces (such as LinkedIn, Instagram and Twitter).

Public.com provides telephone support between the hours of 09:00 and 17:00 EST Mon-Fri.

Safety & Security

Public.com uses advanced cybersecurity and encryption protocols to protect your personal online information. Public Holdings, Inc. also employs bank-grade security with AES 128-bit encryption and TLS 1.2 to secure data in transit.

Application login is protected by two-factor authentication (2FA) and supports biometric verification.

Public.com is transparent regarding the assets it offers and how it makes its money. The broker does not take any payment for order flow (PFOF), unlike competitors like Webull or Robinhood. This means that the firm does not sell your trades to third-party market makers, thus giving you better pricing than such competitors. One of the broker’s key principles is that it puts its users first and is not selling out to HFT firms or ‘market makers’.

Public.com Verdict

Public.com is a decent brokerage firm, offering regulated investments and trading services for stocks, ETFs and cryptocurrencies. The broker boasts a strong social trading community, as well as a wide range of educational features and zero-commission instruments. While the firm is competitive, it cannot offer its services internationally, so only US citizens are accepted as clients. Investors and traders from elsewhere will need to find another broker.

FAQs

Is Public.com A Good Broker?

Public.com is a competitive investments broker, offering more than 9,000 stocks, ETFs and cryptocurrencies with a zero-commission pricing model. Its mobile trading platform is intuitive and simple without scrimping on sophistication and users can interact socially with other investors. However, the firm only offers its services to US citizens and its crypto and fund offerings could do with some growth.

Is Public.com Safe & Legit?

Public.com is a regulated broker, overseen by the SEC and FINRA, which are reputable financial authorities. Moreover, all customers are protected by the SIPC for up to $500,000. The application is protected by two-factor authentication (2FA) and a number of users that exceeds 1 million customers is a good sign.

How Much Capital Do You Need To Trade With Public.com?

There is no minimum deposit or trade size with Public.com, so you can open an account with as little as $1. Fractional stock investing also helps to make more expensive stocks and funds accessible to lower-net-worth individuals.

Does Public.com Offer A Demo Account?

Public.com does not offer a demo account, so there is no risk-free training capability.

Where Can Public.com Be Used?

Public.com is only available in the US, so it is not available to users from the UK, Canada, Australia, the Philippines, Germany and the rest of Europe and the world.

How Can I Contact Public.com?

You can contact the Public.com team via the email address or phone number above. Alternatively, the broker is active on social media like LinkedIn, Twitter and Instagram.

Top 3 Alternatives to Public.com

Compare Public.com with the top 3 similar brokers that accept traders from your location.

  1. Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.

  2. eToro – eToro is a top-rated multi-asset platform which offers trading services in thousands of CFDs, stocks and cryptoassets. Launched in 2007, the brand has millions of active traders globally and is authorized by tier one regulators, including the FCA and CySEC. The brand is particularly popular for its comprehensive social trading platform. Cryptoasset investing is highly volatile and unregulated in the UK and some EU countries. No consumer protection. Tax on profits may apply. 76% of retail accounts lose money.

  3. Swissquote – Swissquote is a Switzerland-based bank and broker that offers online trading and investing. The company has a high safety score and is listed on the Swiss stock exchange. The firm offers a huge range of products, from stocks, ETFs, bonds and futures to 400+ forex and CFD assets. Hundreds of thousands of traders have opened an account with the multi-regulated brokerage. Clients can get started in three easy steps while 24/7 customer support is available to assist new users.

Public.com Comparison Table

Compare Public.com With Similar Brokers
Public.com Interactive Brokers eToro Swissquote
Rating 2.4 4.3 4.1 4
Markets Stocks, ETFs, Cryptos Stocks, Options, Futures, Forex, Funds, Bonds, ETFs, Mutual Funds, CFDs, Cryptocurrencies CFDs, Forex, Stocks, ETFs, Cryptos, Futures, Commodities, Bonds Forex, CFDs, Indices, Stocks, ETFs, Bonds, Options, Futures, Cryptos (location dependent)
Demo Account Yes Yes Yes Yes
Minimum Deposit $0 $0 $50 $1000
Minimum Trade $1 $100 $10 0.01 Lots
Regulators SEC, FINRA FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA FCA, ASIC, CySEC, FSA, FSRA, MFSA FCA, FINMA, DFSA, SFC
Bonus
Education No Yes Yes No
Platforms Own Trader Workstation (TWS), IBKR Desktop, GlobalTrader, Mobile, Client Portal, AlgoTrader, OmniTrader, eSignal, TradingCentral eToro Web, CopyTrader, TradingCentral MT4, MT5, AutoChartist, TradingCentral
Leverage 1:50 1:30
Payment Methods 4 6 13 5
Visit Visit Visit Visit Visit
Review Interactive Brokers
Review
eToro
Review
Swissquote
Review

Compare Trading Instruments

Compare the markets and instruments offered by Public.com and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare Public.com Trading Instruments
Public.com Interactive Brokers eToro Swissquote
CFD No Yes Yes Yes
Forex No Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities No Yes Yes Yes
Oil No No Yes Yes
Gold No Yes Yes Yes
Copper No No Yes No
Silver No No Yes Yes
Corn No No Yes No
Crypto Yes Yes Yes Yes
Futures No Yes Yes Yes
Options No Yes No Yes
ETFs Yes Yes Yes Yes
Bonds No Yes Yes Yes
Warrants No Yes No No
Spreadbetting No No No No
Volatility Index No No Yes No

Public.com vs Other Brokers

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Public.com is a US broker that offers trading opportunities on stocks, ETFs and cryptocurrencies, with 9000 tradeable instruments and social investing. The company is registered with the SEC and FINRA. Over three million users have joined the active investing community.