The world of investing has undergone a significant transformation in recent years, with the rise of mobile apps making it easier for individuals to invest in the stock market. Public, a popular investing app, has gained traction among young investors and beginners. But the question remains, is Public a good investing app? In this article, we’ll delve into the features, benefits, and drawbacks of Public to help you make an informed decision.
What is Public?
Public is a mobile-first investing platform that allows users to buy and sell stocks, ETFs, and cryptocurrencies with no commission fees. Founded in 2018, Public’s mission is to make investing accessible and affordable for everyone, regardless of their financial background or investment knowledge. The app is available for both iOS and Android devices, making it easily accessible to a wide range of users.
Features of Public
Public’s features are designed to cater to a new generation of investors who value ease of use, transparency, and community engagement. Here are some of the key features that make Public stand out:
Commission-Free Trading
One of the most attractive features of Public is its commission-free trading policy. Users can buy and sell stocks, ETFs, and cryptocurrencies without incurring any brokerage commission fees. This feature is particularly beneficial for frequent traders or those who invest small amounts of money regularly.
Social Feed
Public’s social feed allows users to share their investment ideas, discuss market trends, and learn from others in the community. This feature is reminiscent of social media platforms, making investing a more social and engaging experience.
Fractional Shares
Public offers fractional shares, which enable users to invest as little as $1 in a particular stock or ETF. This feature is ideal for those who want to diversify their portfolio without breaking the bank.
No Minimum Balance
Unlike traditional brokerages, Public doesn’t require a minimum balance to open or maintain an account. This means users can start investing with any amount they’re comfortable with.
Benefits of Using Public
Public’s features and policies are designed to appeal to a new generation of investors. Here are some of the benefits of using Public:
Low Barrier to Entry
Public’s commission-free trading and fractional shares make it an attractive option for beginners or those with limited financial resources. Users can start investing with small amounts of money, making it an excellent way to dip their toes into the world of investing.
Community Engagement
Public’s social feed fosters a sense of community among users, allowing them to learn from others, share investment ideas, and stay up-to-date with market trends. This feature is particularly useful for novice investors who want to learn from more experienced traders.
Transparency
Public is committed to transparency, providing users with real-time market data, trade insights, and portfolio analytics. This information empowers users to make informed investment decisions and track their portfolio’s performance.
Drawbacks of Using Public
While Public has many benefits, it’s essential to acknowledge its drawbacks to make an informed decision.
Limited Investment Options
Public’s investment options are limited compared to traditional brokerages. Users can only invest in stocks, ETFs, and cryptocurrencies, which may not be suitable for those who want to diversify their portfolio with other asset classes, such as mutual funds or options.
No Advanced Research Tools
Public’s platform is designed for beginners and casual investors, which means it lacks advanced research tools, such as technical analysis charts or fundamental analysis data. This may be a drawback for experienced traders or those who rely on in-depth research to make investment decisions.
Customer Support
While Public’s community is active and supportive, some users have reported difficulties in getting assistance from the customer support team. This can be frustrating, especially for those who are new to investing and need guidance.
Is Public a Good Investing App?
Based on our review, Public is an excellent investing app for beginners, casual investors, or those who want to invest small amounts of money regularly. Its commission-free trading, fractional shares, and social feed make it an attractive option for those who value ease of use, transparency, and community engagement.
However, Public may not be suitable for experienced traders or those who require advanced research tools, a wide range of investment options, or dedicated customer support. If you’re looking for a more comprehensive trading platform, you may want to consider alternative options, such as Robinhood, Fidelity, or eToro.
| Feature | Public | Robinhood | Fidelity | eToro |
|---|---|---|---|---|
| Commission-Free Trading | Yes | Yes | No | Yes (for stocks and ETFs) |
| Fractional Shares | Yes | No | No | No |
| Social Feed | Yes | No | No | No |
| Minimum Balance | No | No | Yes | No |
| Advanced Research Tools | No | No | Yes | Yes |
In conclusion, Public is a good investing app for those who value ease of use, commission-free trading, and community engagement. While it may not be suitable for everyone, particularly experienced traders or those who require advanced research tools, it’s an excellent option for beginners and casual investors. By understanding Public’s features, benefits, and drawbacks, you can make an informed decision about whether it’s the right investing app for you.
What is Public and how does it work?
Public is a social investing app that allows users to buy and sell stocks, ETFs, and cryptocurrencies with no commission fees. The app is designed to be user-friendly and accessible, with a focus on community engagement and education. Users can create a profile, connect with others, and share investing ideas and strategies. Public also offers a range of tools and resources, including real-time market data, news, and analysis.
Public’s investing platform is built on a mobile-first approach, with a clean and intuitive design that makes it easy to navigate and use. The app is available for both iOS and Android devices, and users can open an account with as little as $1. Public also offers a range of features, including fractional shares, dividend reinvestment, and automatic investing. Overall, Public aims to make investing accessible and enjoyable for everyone, regardless of their level of experience or investment amount.
Is Public a good app for beginners?
Yes, Public is a great app for beginners. The platform is designed to be easy to use and understand, with a focus on education and community engagement. Public offers a range of resources and tools to help new investors get started, including a learn section that provides educational content and investing guides. The app also has a social feature that allows users to connect with other investors and learn from their experiences.
Additionally, Public’s commission-free trading and fractional shares make it an attractive option for beginners who may not have a lot of capital to start with. The app’s low minimum balance requirement and lack of account fees also make it an accessible option for those who are new to investing. Overall, Public is a great choice for beginners who want to start investing in a supportive and educational environment.
What types of investments are available on Public?
Public offers a range of investment options, including stocks, ETFs, and cryptocurrencies. Users can invest in individual stocks from a variety of industries and sectors, including technology, healthcare, and finance. Public also offers a range of ETFs, which provide diversified exposure to different asset classes and market segments. In addition, Public allows users to buy and sell cryptocurrencies, including Bitcoin and Ethereum.
Public’s investment offerings are constantly evolving, with new assets and features being added regularly. The app also offers a range of themes, which are curated groups of stocks and ETFs that align with specific investment goals or strategies. Public’s investment options are designed to be flexible and accessible, allowing users to create a diversified portfolio that meets their individual needs and goals.
Is Public safe and secure?
Yes, Public is a safe and secure app. The platform is a member of the Securities Investor Protection Corporation (SIPC), which protects users’ accounts up to $500,000, including $250,000 in cash claims. Public also offers two-factor authentication and biometric login to ensure that users’ accounts are protected from unauthorized access. The app’s data and transactions are also encrypted, providing an additional layer of security.
Public is also a registered broker-dealer with the Securities and Exchange Commission (SEC), which means that the app is subject to regular audits and inspections. Public’s safety and security measures are designed to provide users with peace of mind, allowing them to focus on their investments and financial goals.
How does Public make money?
Public makes money through a range of revenue streams, including payment for order flow, interest on cash balances, and offering other financial products and services. Payment for order flow is a common practice in the brokerage industry, where Public receives a small payment from high-frequency trading firms for routing orders through their platforms. This revenue stream helps to offset the costs of operating the platform and provides users with commission-free trading.
Public also generates revenue from interest on cash balances, which is earned on the cash held in users’ accounts. The app also offers other financial products and services, such as options trading and margin lending, which provide additional revenue streams. Public’s revenue model is designed to be transparent and fair, with the goal of providing users with a low-cost and accessible investing experience.
What are the advantages of using Public?
There are several advantages to using Public, including commission-free trading, fractional shares, and a social investing community. Public’s commission-free trading means that users can invest without incurring trading fees, which can save money over time. The app’s fractional shares feature also allows users to invest in high-priced stocks with as little as $1, making it more accessible to new investors.
Public’s social investing community is another key advantage, providing users with a platform to connect with other investors, share ideas, and learn from their experiences. The app’s educational resources and learn section also provide users with a range of tools and information to help them make informed investment decisions. Overall, Public’s advantages are designed to provide users with a low-cost, accessible, and educational investing experience.
Are there any downsides to using Public?
While Public is a great app for many investors, there are some downsides to consider. One of the main drawbacks is the limited investment options, which may not appeal to more advanced or sophisticated investors. Public’s platform is also still relatively new, which can make it more prone to technical issues and bugs. Additionally, Public’s customer support is only available through email and chat, which may not be as convenient for some users.
Another potential downside is the lack of advanced research tools and analytics, which may not be suitable for investors who rely on technical analysis or other advanced strategies. However, Public is constantly adding new features and tools, and the app’s developers are committed to improving the user experience. Overall, while there are some downsides to using Public, the app’s benefits and advantages make it a great choice for many investors.