Jordi Mora Igual | Moment | Getty Images
Launched in 2019, Public is newer to the investing app scene and has made a play for the beginner investor crowd by providing its own social media feed. Investors can follow their friends (or anyone else on Public), send direct messages, have group chats and check out each other’s portfolios.
It’s a potentially enticing feature that could help people new to investing get over any jitters they may have, but how does the rest of the app stack up? Below, CNBC Select reviews more of Public’s current offerings to give you the details on its investment options, features and fees so you can decide if the investing app is right for your needs.
Public
-
Minimum deposit and balance
Minimum deposit and balance requirements may vary depending on the investment vehicle selected. No minimum required to open an account or to start investing
-
Fees
Fees may vary depending on the investment vehicle selected. Commission-free trading; regulatory transaction fees and trading activity fees may apply. Flat management fee of 0.05%/month for Treasuries. Public Premium membership is $8/month
-
Bonus
New users can receive a free slice of stock (value $1 to $300, given out randomly) when signing up for Public, opening an approved brokerage account and depositing funds into their account; transfer investments to Public and earn bonuses (range from $150 to $10,000, depending on transfer amount)
-
Investment vehicles
-
Investment options
Stocks, ETFs, fractional shares, U.S. Treasuries, crypto, plus alternative assets like fine art and luxury goods
-
Educational resources
See our methodology, terms apply.
- $0 minimum deposit to open an account and invest
- Commission-free trading
- Access to U.S. Treasuries
- Free stock welcome bonus and cash bonuses for transferring investments to app
- Social media feature makes app engaging and educational
- Limited investment choices (no bonds, mutual funds, retirement accounts)
- Fee to upgrade account to Premium
- Fees outside of commissions may apply
View More
View Less
Public offers zero-commission trading on stocks and ETFs, plus the option to buy crypto and Treasury bills. Per Public’s website, T-bills are currently offering an annualized 5.4% yield when held to maturity — a rate competitive with today’s high-yield savings accounts.
Public users can also invest in alternative assets, like fine art and luxury goods, to further diversify their portfolios. And for those who want to get in on a big-name, fancy stock, Public offers fractional shares so they can buy a fraction of a share instead of the entire, likely expensive, share.
Public’s social media component adds a fun element to using the investing app. Even if you don’t want to do much investing, it’s a good way to connect with others to learn more about why they chose certain stocks and securities. Public also offers investment education with their basic explainer articles, something that’s helpful for new investors still getting their footing.
Another standout feature is Public’s recent Treasuries option for investors. Government-backed T-bills are usually short-term investments that mature within a year, providing investors with a nearly risk-free and highly liquid place to park cash. And because they pay a fixed rate of interest, T-bills are a stable source of income. Plus, you only have to pay federal income tax on interest earned from T-bills, not local and state income taxes.
The Public investing app is available for free download in both the App Store, where it has 4.7 stars and nearly 64,000 reviews, and on Google Play, where it has 4.2 stars and over 46,000 reviews, at the time of writing.
The Public app is free to use as a basic member, or you can upgrade to Public Premium for $8 per month and receive specialized customer service, more advanced data, company financial metrics and Morningstar research.
As we mentioned above, there are no trading fees or commissions. With Treasuries, however, there’s a flat management fee of 0.05% per month, based on the average daily balance of your Treasury account. Additional costs may apply with other securities; see Public’s fee schedule for more information.
Subscribe to the CNBC Select Newsletter!
Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here.
Public is an easy-to-use app for investing newbies and its social media feature makes investing engaging. It offers fractional shares, U.S. Treasuries and access to crypto.
The main drawback to Public is that you won’t find the option to invest in bonds, mutual funds or fund a retirement account with the app. Look to big brokers for these needs, such as Fidelity, Charles Schwab or E*TRADE®.
Fidelity Investments
-
Minimum deposit and balance
Minimum deposit and balance requirements may vary depending on the investment vehicle selected. No minimum to open a Fidelity Go account, but minimum $10 balance for robo-advisor to start investing.
-
Fees
Fees may vary depending on the investment vehicle selected. Zero commission fees for stock, ETF, options trades and some mutual funds; zero transaction fees for over 3,400 mutual funds; $0.65 per options contract. Fidelity Go has no advisory fees for balances under $25,000 (0.35% for balances over $25,000 and this includes access to unlimited 1-on-1 coaching calls from a Fidelity advisor).
-
Bonus
-
Investment vehicles
Robo-advisor: Fidelity Go® IRA: Fidelity Investments Traditional, Roth and Rollover IRAs Brokerage and trading: Fidelity Investments Trading Other: Fidelity Investments 529 College Savings; Fidelity HSA®
-
Investment options
Stocks, bonds, ETFs, mutual funds, CDs, options and fractional shares
-
Educational resources
Extensive tools and industry-leading, in-depth research from 20-plus independent providers
Charles Schwab
-
Minimum deposit and balance
Minimum deposit and balance requirements may vary depending on the investment vehicle selected. No account minimum for active investing through Schwab One® Brokerage Account. Automated investing through Schwab Intelligent Portfolios® requires a $5,000 minimum deposit
-
Fees
Fees may vary depending on the investment vehicle selected. Schwab One® Brokerage Account has no account fees, $0 commission fees for stock and ETF trades, $0 transaction fees for over 4,000 mutual funds and a $0.65 fee per options contract
-
Bonus
-
Investment vehicles
Robo-advisor: Schwab Intelligent Portfolios® and Schwab Intelligent Portfolios Premium™ IRA: Charles Schwab Traditional, Roth, Rollover, Inherited and Custodial IRAs; plus, a Personal Choice Retirement Account® (PCRA) Brokerage and trading: Schwab One® Brokerage Account, Brokerage Account + Specialized Platforms and Support for Trading, Schwab Global Account™ and Schwab Organization Account
-
Investment options
Stocks, bonds, mutual funds, CDs and ETFs
-
Educational resources
Extensive retirement planning tools
E*TRADE
-
Minimum deposit and balance
Minimum deposit and balance requirements may vary depending on the investment vehicle selected. No minimum to open an E*TRADE brokerage account; minimum $500 deposit to invest in robo-advisor platform Core Portfolios
-
Fees
Fees may vary depending on the investment vehicle selected. Zero commission fees for stock, ETF and options trades; zero transaction fees for over 4,400 mutual funds; robo-advisor Core Portfolios charges 0.30% annual advisory fee
-
Bonus
For a limited time only: Get up to $3,500 when you open and fund a new eligible retirement or brokerage account within 60 days of account opening, using promo code: REWARD22. Deposit minimums start at $10,000, and the more you deposit, the more you earn. Offer ends Mar. 1, 2022
-
Investment vehicles
Robo-advisor: E*TRADE Core Portfolios IRA: E*TRADE Traditional, Roth, Rollover, Beneficiary, SEP and SIMPLE IRAs, IRA for Minors and E*TRADE Complete™ IRA Brokerage and trading: E*TRADE Trading Other: E*TRADE Coverdell ESA (Education Savings Account), Custodial Account for minors and small business retirement plans
-
Investment options
Stocks, bonds, mutual funds, CDs, ETFs, options and futures
-
Educational resources
Educational library includes in-depth articles and videos for any type of investor
See our methodology, terms apply.
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.