Public Investing Review: Stocks, Crypto & Luxury Goods
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Sorry to the rich or seasoned stock traders; this article is not for you.
Successful investors, from seasoned traders, business leaders, celebrities, and financial bloggers, are helping the everyday American with their own personal finance, looking to Wall Street for diversification in their portfolios by picking winning stocks and sharing them on a new social investing app.
If you are new to the stock market, this is by far the best way to get involved.
In this article
What is Public?
As a new investor or someone looking to build wealth in the stock market without an investment advisor or investment manager, wondering where to start or how to know which stocks to buy can be intimidating. Plus, we are all so busy. We might not necessarily have the time or desire to pick winners as a typical day trader might. We simply might want to find companies we believe in to hold and grow in the long term.
That's where Public.com comes in.
It’s an investing app that allows you to invest in stocks, ETFs, crypto, and alternative assets. Public acquired Otis in 2022 and brought fractional ownership of alternative assets to its platform. It will enable you to buy a shoe from your favorite basketball player or an NFT.
One place for all your investing
Options Trading
- Get up to a $0.18 rebate
- No commission or per-contract fees
High-yield cash
- Earn 5.1% APY*
- No fees. No subscription required.
Bonds
- 6% Yield or more
- Explore thousands of bonds yielding 6%+
What is Public?
Before you ever make an important decision, what do you do? I know that I generally talk it through with people I trust. I might not follow what they say exactly, but just having a conversation can help me clear my mind and see things in new ways. The same goes for investing.
That’s what Public is all about.
Users can see where people are putting their money and have transparent and constructive discussions with people from different backgrounds.
Like Venmo, Public has a social feed that shows recently verified transactions in a feed format. (Verified meaning that each post is tied to an actual transaction in the app, an investment, or a sale.)
For example, Dylan Cooper invested in Boeing:
You can see actual conversations. People are sharing information and helping each other make decisions.
How Public works
We already know how incredibly valuable it is to not only follow investors’ ideas and portfolio investments and even more, the ability to invest in stocks, exchange-traded funds (ETFs), crypto, luxury goods, and contemporary art. The company also plans to launch investments in treasuries and music royalties soon. You can also invest fractionally (portions of a share) in thousands of equities, which means you can get in on the action no matter what circles you run in.
Plus, as some brokerages require, you don't need big dollar amounts in your bank account to invest. You can invest as little as you'd like with a minimum of $5 in your account through ETFs. These financial products have historically been popular with a broad range of investors because they comprise multiple stocks.
These are legit ETFs from some of the most trusted names in the business, like Vanguard and BlackRock. And just like buying stocks with Public, ETF trades are commission-free with any amount of money.
In case you missed this earlier: There are 0 commissions, which means there are no fees on trades and no account minimums. (See Public.com/disclosures for more information.)
You must love millennials for mixing everything we love into one platform; social media, real talk, and building wealth in an accessible format.
As if these weren’t enough reasons to run and start making money moves with Public, they also encourage you to share with friends by offering free stock. Yup, FREE STOCK for referrals.
One place for all your investing
Options Trading
- Get up to a $0.18 rebate
- No commission or per-contract fees
High-yield cash
- Earn 5.1% APY*
- No fees. No subscription required.
Bonds
- 6% Yield or more
- Explore thousands of bonds yielding 6%+
How much does Public cost?
Public doesn't charge commissions, execution fees or transaction fees, but it does charge a few other fees. An exhaustive list can be found here. However, if you sign up for Public Premium, you have to pay $10 per month and you can cancel the subscription anytime. Additionally, if you have $20,000 market value in your account balance, you unlock complimentary access.
Public features
Investing
Besides commission-free trading in stocks with any amount of money, you can invest in ETFs and funds "by the slice" without commission fees and, of course, in full shares — the choice is yours.
Related: Best ETFs- Our Top Picks
Fractional shares
Slices are small units of stocks and are pioneering how everyday Americans can invest in the stock market.
These "slices" of stocks make them accessible to more people. Instead of paying $250 for a share of Tesla, you can buy a slice by the dollar.
Fractional investing, as the finance nerds call it, was previously only available to the wealthy via their financial advisors at expensive investment banks.
Now you can do the same, all through Public's app.
Public Premium
For $10 per month, you can get access to the Public Premium services which include advanced tools, research and insights to help you make the right investing decisions. It offers extended hours trading, advanced stock and ETF insights, expert reports, ratings and insights, personalised insights, subscriber only content, portfolio management tools and VIP member support. You can cancel the subscription at any time.
Public investing
Public wants to make investing less frightening and opens the conversation on its app where you can see what your friends and people you are following are doing and comment. Or, you can have private and group messages
The app's easy drag-and-drop feature allows you to organize your portfolio for the long term, which can also be shared.
Mobile app
You can access your brokerage account by Apple iOS or Android through the Public app for real-time views of your account.
Free stock
Every time you refer a friend, you can grow your portfolio.
AI investing
Public is launching Public Alpha, which is an AI based tool that will offer market data, insights and analysis to help you make the right decision. It does not offer advice and is powered by GPT-4. You can ask as many questions as you want before you make the decision to invest. The tool is free to use.
Customer service
The Public app offers in-app live chat support so you can reach someone with questions anytime.
One place for all your investing
Options Trading
- Get up to a $0.18 rebate
- No commission or per-contract fees
High-yield cash
- Earn 5.1% APY*
- No fees. No subscription required.
Bonds
- 6% Yield or more
- Explore thousands of bonds yielding 6%+
Pros and cons
Pros
- Access to fractional shares: This feature is particularly beneficial for beginners with limited funds, allowing investment in slices of shares with a minimum of just $1. It enables investment in high-priced stocks and helps diversify smaller portfolios.
- No minimums. There's no account minimum, minimum deposit, or minimum withdrawal, making it accessible for those starting with small amounts.
- Diverse range of assets. Public offers a wide range of assets to invest in, including alternative assets, royalties and cryptocurrency.
- Commission-free trading. Public offers commission-free trading, meaning you can buy and sell shares without extra fees.
- Social features. The app allows users to view the portfolios of others and share investment strategies, fostering a community of learners and investors.
- Educational resources. Public provides educational resources to help users make informed financial decisions.
- Premium for only $10. You can enjoy Public Premium for only $10 a month.
Cons
- Limited account types. Public does not offer retirement accounts like traditional or Roth IRAs, which could be a downside for those looking for tax-advantaged investing.
- No tax-loss harvesting. This feature, which can be beneficial in taxable accounts, is not available on Public.
- Crypto limitations. You cannot withdraw crypto to a private wallet, which might be a drawback for some crypto investors.
- High-risk alternatives. The alternative investments available, such as sports cards, NFTs, and artwork, are high-risk and might not provide the expected portfolio diversification.
- No financial advisors. Public does not offer access to financial advisors for investment advice, which might be a limitation for those seeking personalized guidance.
- Sparse customer support. The app's customer support is primarily online, with no phone support, which might be inadequate for some users
Public vs competitors
App | Management fee | Portfolio mix | Account minimum |
Public | $0 | Stocks, ETFs, crypto, luxury goods and contemporary art | $0 |
Betterment | 0.25% annually or $4 per month for Investing, 1% annually for Crypto Investing | ETFs, crypto, fractional shares | $0 for Digital, $100,000 for Premium |
Robinhood | $0 | Stocks, ETFs, options, crypto | $0 |
Stash | $3 per month for Stash Growth; $9 monthly for Stash+ | Three managed portfolios, choice to buy other ETFs and stocks | $0 to open, $5 to start investing |
Betterment
One of the first robo advisors, Betterment launched in 2008 and invested for you. Rather than teach you about investing, as Public does, you fund your account, and Betterment does all the work and recommends a portfolio you fund. It has two pricing plan tiers: Digital Investing charges a 0.25% annual fee for a $4 monthly fee. Crypto Investing charges a 1% annual fee.
Read our full review on Betterment.
Robinhood
Providing commission-free stocks, ETFs, and options, as well as cryptocurrencies, you can begin investing through Robinhood with as little as $1. Choose how much you want to invest, and it will be in fractional shares and allow you to customize your portfolios. It's also investing for you, but it's truly fee-free.
Read our full review on Robinhood.
Stash
Stash wants you to invest in what you can afford, offering fractional share opportunities. There are two investing programs: Stash Growth includes a personal investment account, a bank account with Stock-Back Card, and retirement accounts. The price? $3 per month. The top-tier Stash+ plan adds access to market insights, an investment account for two children, and 1% stock back for $9 monthly.
Read our full review on Stash.
One place for all your investing
Options Trading
- Get up to a $0.18 rebate
- No commission or per-contract fees
High-yield cash
- Earn 5.1% APY*
- No fees. No subscription required.
Bonds
- 6% Yield or more
- Explore thousands of bonds yielding 6%+
FAQs
Are my investments safe?
Yes, Public investments are insured up to $500,000 through the SIPC. Plus, Public wants you to learn and grow so they have built-in safeguards for risky stocks, explain terms when you see them, don't allow day-trading, don't sell complex investments, and don't sell margin loans.
Who is Public best for?
Beginner investors who are unsure how to invest and don't want to spend money for financial advice. Public's social aspect gives you a chance to follow your friends and public figures, which may make you feel more comfortable investing your hard-earned cash.
What should I look for in an investing platform?
Essential features to consider in an investing platform include low fees, diverse investment options, a user-friendly interface, robust security, quality customer support, and options for earning interest on uninvested cash.
Is Public.com legit?
Public is a great tool for first-time investors who look at investing as a foreign object. By investing with little money and following and connecting with other investors, you'll eventually learn, grow, and build confidence to invest more.
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Writer
Lissa Poirot is an award-winning journalist and editor with a focus on finance, travel and health. Her work has appeared online and in print, and she has often been cited as a source on both. She currently resides in Pennsylvania.
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