Public.com is a commission-free investing app that aims to make the stock market accessible to everyone. It was founded in 2019 by Leif Abraham and Jannick Malling with a mission to empower people to invest in the companies they believe in, and it has since gained a lot of popularity among investors.
Investors can use Public.com to buy and sell stocks, exchange-traded funds (ETFs), and cryptocurrencies without paying any commission fees. The app is available for both iOS and Android devices and is very user-friendly, making it a great option for beginners.
One of the main advantages of Public.com is its social aspect. The app allows users to follow other investors and see their trades, portfolios, and watchlists. This feature is designed to help investors learn from each other, get investment ideas, and become more informed about the stock market. The app also provides a feed that shows real-time updates from other investors and news sources, creating a community-driven investing experience.
Another advantage of Public.com is its focus on transparency. The app provides real-time pricing and shows users the market depth for each stock, giving them a better idea of what they’re buying and selling. Public.com also discloses its revenue sources and how it makes money, which is mainly through interest on uninvested cash held by its users.
In terms of disadvantages, Public.com doesn’t offer as many investment options as some other brokerages. It doesn’t provide access to mutual funds, options, or futures, which may limit some investors’ options. The app also doesn’t provide extensive research tools or educational resources, which may not be ideal for beginners who need more guidance.
That being said, Public.com offers a unique investing experience that’s worth considering. To open an account with Public.com, you need to be at least 18 years old, have a valid Social Security number, and a U.S. residential address. The account opening process is straightforward and only takes a few minutes to complete. Once your account is open, you can link your bank account and start funding your Public.com account.
When investing with Public.com, it’s important to remember that investing involves risk and that you can lose money. It’s recommended that investors diversify their portfolios and invest for the long term rather than trying to time the market.
In conclusion, Public.com is a great option for investors who want to invest in the stock market without paying commission fees and who value transparency and social aspects in investing. Its community-driven platform and user-friendly interface make it a great option for beginners, but more experienced investors may find its investment options and research tools limiting. If you’re interested in investing with Public.com, make sure to do your own research and consider your investment goals and risk tolerance before opening an account.
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