Public Review 2024
Website: public.com
Min. Deposit: US$ 0
Leverage: Not Offering
Trading Platforms: Public Mobile Apps
Regulation: SEC, FINRA, SIPC, FCA
Headquarters: USA
Founded: 2019
Regulatory Licenses:
- Dalmore Group, LLC - authorized by SEC (USA) registration no CRD#: 136352/SEC#: 8-67002
- Dalmore Group, LLC - regulated by FINRA (USA) registration no CRD# 136352
- Dalmore Group, LLC - member of SIPC (USA)
- Public Investing UK Limited - authorized by FCA (UK) registration no 985994
Updated on February 8, 2024
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Our evaluation process for forex brokers involves a comprehensive analysis of various factors including regulatory compliance, platform usability, fees, market range, customer support, and educational resources. For this review, we meticulously examined Public Investment against over 1000 brokers to determine its ranking and suitability for traders.
Public Investment is a US-based firm specializing in social investing, offering an expansive array of assets such as stocks, ETFs, treasuries, cryptocurrencies, art, and collectibles. The platform is designed to be user-friendly and does not charge commission fees on stock transactions. As a broker-dealer registered with the US Securities and Exchange Commission (SEC) and a member of FINRA and SIPC, Public Investment holds a prestigious FCA license in the UK, showcasing its commitment to transparency and accessibility in investing.
Pros
Commissionfree investment for cost efficiency
Emphasis on social investing fosters a collaborative community
Fractional shares make investing accessible with lower capital
Cons
Limited investment options compared to traditional brokers
Mobileonly interface might not appeal to desktop users
Public Review Summary in 10 Points ▲
Headquarters: USA, Denmark
Regulation: SEC, FINRA, SIPC, FCA
Platforms: Public Mobile Apps
Trading Products: Stocks, ETFs, Treasuries, Crypto, Art, Collectibles, etc.
Stock Commission: $0
Paper Trading/ Demo Account: No
Minimum Deposit: $0
Base Currencies: USD, EUR, GBP
Education: Provided
Customer Support: 24/5
Public is a reputable Investing broker that adheres to the stringent regulations set forth by the SEC, FINRA, SIPC, and FCA, ensuring a secure and low-risk investing environment. With Top-Tier regulations in place, Public is far from being a scam and is recognized for its reliability in the investing market.
Is Public Legit?
Indeed, Public is a legitimate investing platform, operating as a broker-dealer under the auspices of the U.S. Securities and Exchange Commission (SEC) and holding memberships with FINRA and SIPC in the United States. These regulatory affiliations underscore the platform's commitment to maintaining a secure and trustworthy environment for investors. Our Public Trust Score stands at 8.9 out of 5, reflecting its solid reputation, regulatory compliance, and absence of licenses in offshore jurisdictions.
The firm prioritizes the safety of client investments through stringent compliance with regulatory standards and best practices. This includes protective measures against fraud and unauthorized access, backed by robust technology and verification processes. As a member of FINRA and SIPC, securities in client accounts are safeguarded up to $500,000, emphasizing the importance of vigilant investment monitoring and secure online behavior for enhanced trading safety.
Public does not provide Margin Accounts, focusing instead on commission-free stock trading, fractional shares, and its social investing platform. For the latest details on platform offerings, including any updates on leverage or margin trading capabilities, it is advisable to consult Public's official website or reach out to their customer service team directly.
Based on extensive research into the brokerage industry, it's been found that this brokerage firm primarily offers Cash Accounts for investment purposes. This setup means that investors utilize the funds available within their account without the opportunity to use margin or leverage. The types of accounts offered are categorized into Standard and Premium, catering to a broad spectrum of investor needs and preferences.
Opening an account with this broker is streamlined and user-friendly. Prospective clients can initiate the process by navigating to the broker's website and selecting the "Get Started" option. The process involves entering essential personal information such as name, email address, and phone number, followed by the verification of this information through the submission of documents like proof of residence and identification. An electronic quiz assessing the applicant's trading experience is also part of the procedure. Once the account is verified and activated, the next step is to deposit funds, thereby completing the setup process.
In the realm of fees, this brokerage operates on a no-commission trading model, which allows investors to engage in stock trades without the burden of traditional brokerage fees. While the act of investing itself is devoid of commissions, certain activities or services provided by the platform may incur fees, such as inactivity fees or charges for transferring funds. Investors are encouraged to familiarize themselves with the brokerage's current fee schedule and terms, which are subject to modifications over time. When compared to a comprehensive analysis of over 1000 other brokers, the fees of this brokerage are considered competitively low, with a rating of 4.3 out of 5. This assessment takes into account both charge-free services and those that may attract fees.
In terms of trading commission, this brokerage distinguishes itself by not imposing spreads on trades, thereby offering commission-free trading for Stocks and Funds. It's important to note, however, that trading commissions and fees are not static and can vary depending on account type, the brokerage's specific policies for investment, and prevailing market conditions. For instance, a foreign exchange fee is applied when investors make deposits or withdrawals in foreign currencies. The brokerage's commission structure is evaluated positively, with a rating of 4.3 out of 5, based on a comparative analysis with other brokers. This rating reflects the brokerage's competitive and transparent fee structure, which is well-suited for investment activities.
The platform provides investors with several methods to deposit funds into their accounts for trading purposes. Users have the option to link their bank accounts for easy transfers. Additionally, the platform supports widely used payment methods such as debit cards, offering investors the flexibility to conveniently fund their accounts.
Public funding methods received a good ranking, with an overall score of 4.0 out of 5. The fees are competitively low, and investors can benefit from a variety of account-based currencies.
Here are some points of consideration for public funding methods found:
Public Minimum Deposit
The firm excels by not requiring a minimum deposit to open an account, setting itself apart from most other brokers that typically require a $500 minimum deposit.
Public Withdrawals
According to our analysis, Public withdrawals can generally be processed through the platform, with funds being transferred back to the linked bank account efficiently.
Withdraw Funds from Public
To initiate a withdrawal from your investment account, the platform outlines a straightforward set of steps:
1. Log in to your account
2. Select 'Withdraw Funds' in the menu tab
3. Enter the withdrawal amount
4. Choose the withdrawal method
5. Complete the electronic request with the necessary requirements
6. Confirm withdrawal information and submit
7. Check the current status of the withdrawal through your Dashboard
Public Bank Online
Our research indicates that the firm does not offer traditional online banking services but facilitates online transfers by allowing users to link their bank accounts. This enables investors to smoothly transfer funds to and from their linked bank accounts for trading activities on the platform.
Public operates mainly as a mobile trading platform, providing a user-friendly and accessible experience through its mobile app. The platform is distinguished by its commission-free stock trading model, fractional shares, and social investing features. Although it lacks a web or desktop version, the mobile app is designed to cater to both beginners and experienced investors alike.
Public Platform is rated good with an overall score of 4.0 out of 5, in comparison to over 1000 other brokers. This good rating is attributed to its advanced mobile trading platform.
Mobile Public App
The Public mobile app acts as the central hub for users to engage in commissionfree stock trading and social investing. The app enables investors to buy and sell stocks, explore fractional shares, and participate in a communitydriven investing experience. The mobile app's accessibility makes it a convenient tool for managing portfolios and staying connected with market trends for both novice and seasoned investors.
The broker offers 24/5 customer support to assist users with inquiries and issues related to their investment activities. Investors can typically contact customer support through various channels, including email or in-app messaging.
Customer Support at Public is rated good with an overall score of 4.0 out of 5 based on our testing. The support team is noted for being responsive during working days, ensuring efficient assistance.
Finally, Public provides users with informative content to elevate their understanding of the stock market and investment strategies. The platform offers educational resources such as articles, tutorials, and other materials, designed to empower users with the knowledge needed to make informed investment decisions.
Public Education received an overall score of 4.0 out of 5 based on our research. We found that the broker offers high-quality learning materials, research, and analysis suitable for investors looking to enhance their knowledge.
Public News
The platform keeps users informed about market trends, stock updates, and relevant financial news through its news features. By providing a news feed, users can stay updated on the latest developments in the financial world. This feature is designed to complement the social investing aspect of the platform, enabling users to make informed decisions and engage in discussions about current market events. Investors can access the most current and accurate news directly on the Public.com app.
In summary, Public is a reputable and user-friendly investment platform, emphasizing accessibility, social investing, and investor education. Operating primarily through a mobile app, it serves a diverse user base and fosters collaboration for well-informed investment decisions. Additionally, the company is authorized and regulated by leading financial authorities in both the US and the UK. With its dedication to commission-free trading and fractional shares, Public democratizes investing for everyone.
The firm provides a transparent and reliable investment environment. However, we advise conducting thorough research to determine if Public’s offerings are in line with your specific needs.
Based on our findings and financial expert opinions, Public is recommended for:
Investors from the USA and UK
Fractional Shares
Free Stocks
Investment
Advanced traders
Professionals
Social Investing
Direct market access
Commission based trading
Highquality learning materials
Supportive customer service
