Public Review: Good Beginner-Friendly Platform (Now with IRAs)

If public review good beginner is on your radar, this short guide cuts through the noise. Here is what is worth knowing, and how to put it to work today.

Key Takeaways

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• 4.2/5R.J.'s Take: Compared to apps like Robinhood, I much prefer Public.

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Some links on our website are sponsored, and we may earn money when you make a purchase or sign-up after clicking. Learn more about how we make money and read our review methodology. 4.2/5

R.J.'s Take: Compared to apps like Robinhood, I much prefer Public. Public stands out by not pushing active trading or leverage.

Public offers both taxable and retirement accounts. For hands-off investors, they provide preset portfolios that take a straightforward approach - for example, their aggressive portfolio uses three broad-market ETFs covering U.S. stocks (59%), international developed markets (30%), and emerging markets (11%). While simpler than the 8-12 fund mix typically found at robo-advisors, these portfolios still provide solid global diversification for long-term investing.

Overall, Public makes it simple to invest in a diversified portfolio across both retirement and taxable accounts. It's a solid choice for beginners focused on building wealth steadily over time.

Pros:

• Free trades on stocks and ETFs.
• Offers investment plans for broad diversification.
• Can invest in fractional shares.
• $5 minimum investment.

Cons:

• Lack of comprehensive banking features
• No tax-loss harvesting
• Crypto is held by a third party and can’t be transferred to a private wallet.

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Table of Contents

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• Public Investing App at a Glance
• Public Key Facts
• Public Pros and Cons Explained
  • Public Pros
  • Public Cons
• Public Premium
  • Investment Options
  • Customer Support
  • Fees
  • Usability
  • Reputation
• Public.com Alternatives
  • Public vs. Robinhood
  • Public vs. M1 Finance
  • Public vs. Webull
• Public.com Review FAQs
• Is Public Right For You?

Public Investing App at a Glance

Public offers free trading of most U.S. listed stocks and ETFs and allows you to purchase and sell fractional shares (with a $5 minimum investment). It also offers access to options trading, cryptocurrencies, bonds, done-for-you investment plans, a high-yield cash account, and a bond account.

Your assets are combined into a single portfolio, making tracking your total gains and losses simple.

While numerous no-commission trading platforms focus on professional traders, Public is designed with more of the everyday investor in mind. The interface is built around simplicity, making it simple to find and trade assets without sifting through the mountain of settings, charts, and data that numerous investors find intimidating and difficult to navigate.

Some unique features of Public include:

• Alpha. An AI-powered chat tool powered by GPT-4, designed to help you source information. In my testing, I found it helpful in answering questions like “What is Apple’s historical P/E ratio?” However, it will reject questions that it considers financial advice, such as “Should I increase my allocation to Apple?”
• Corporate Bond Fund. The Public Bond Account invests in 10 specific corporate bonds, offering a fixed, higher yield (an APY of 6.7% as of December 2024) compared to the variable, lower yield of a diversified fund like the Vanguard Total Bond Fund. It focuses on corporate bonds with regular interest payments but carries higher concentration risk, limited liquidity, and lacks broad diversification compared to a bond fund like Vanguard’s.
• Treasury Bonds. Public’s Treasury Account allows you to invest in 6-month U.S. Treasury bills with a minimum of $100. T-bills are purchased at a discount to face value, and the full amount is paid at maturity, offering secure, state and local tax-exempt earnings backed by the U.S. government. Accounts include SIPC protection for up to $500,000 for Treasury securities.

While Public is not nearly the size of its most popular competitor, Robinhood, it has built up a user base of millions across its web platform and mobile app, with positive ratings (4.1 on the Google Play Store and 4.7 on the iOS App Store). This is largely thanks to its ease of use and social features.

Public typically offers either a free stock or deposit bonus. I keep the latest offer updated on our Public promotions page.

Public Key Facts

Fees:No commissions on U.S. stock/ETF trades, except for extended hours trading, OTC securities, options, crypto, and some account services. There are no inactivity fees. Select fees are waived for Premium members.Account minimum:$5 for stocks/ETFs. $100 for Treasuries.Account types:Self-directed investing and IRAsAvailable assets:Stocks, ETFs, a limited selection of cryptocurrencies, options, index options, bonds, investment plans, a high-yield cash account, a bond account, and 6-month Treasury Bills. As of November 2024, alternatives such as fine art, music royalties, and collectibles are no longer available.Financial advisor access:Not available.Promotions:Transfers bonus of up to $10,000.

Public Pros and Cons Explained

In the summary box above, we highlighted a few key benefits and downsides to using Public. Here’s a more in-depth look at the platform’s pros and cons.

Public Pros

• Provides access to fractional shares. A major benefit for the beginner investor with limited funds, fractional share trading allows you to purchase stocks based on dollar amounts. Instead of buying a whole share, you can invest any amount (with a $5 minimum). This gives you access to companies that would otherwise be out of your reach, and allows you to better diversify a small portfolio. For example, you can invest $50 per week in numerous different companies, rather than being forced to save up and invest in a single share of one company.
• Offers investment plans for broad diversification. In June 2023, Public introduced Core Investment Plans. Prior to this, they only offered baskets of theme-related stocks, such as companies that invest in specific sectors (e.g., artificial intelligence or cyber security). These Core Investment Plans are well-diversified and low-cost index-based portfolios that you coul

  Final Thoughts

  Before you check out, double-check public review good beginner against current offers and any coupons you can stack. Small habits like this add up to real savings over a year.

  Originally published at thewaystowealth.com.