Public.com Review
The advent of commission-free trading platforms has made it easier for many to invest in the crypto market. Although several investment platforms offer commission-free trading, only a few provide several trading options and a great user experience.
Also, only a few investment platforms allow you to invest in crypto, stocks, NFTs, and digital collectibles under one dashboard. One such platform is Public.com. In this Public.com review, you will see why using it is a great choice and the various features the platform offers.
What You Need To Know About Public.com
Public.com, a legitimate broker created in 2018, is an excellent investment platform for people developing diverse portfolios comprised chiefly of crypto and stock. There are no hidden prices or fees when investing. However, there are charges for transfers.
Furthermore, Public.com offers unprecedented community development and transparency. This makes it a suitable investment platform for young or new traders entering the investment space.
Public.com boasts a user community with chat rooms where you can engage with other investors, share your investment objectives and support one another to achieve them.
However, Public.com is more suitable for beginners because of its tools and features. It boasts a simple interface, fractional share trading, an easy-to-use platform, and an easy trading process.
What Can You Trade On Public.com?
You can trade various financial assets on the platform, such as ETFs, stocks, alternative assets, and cryptocurrencies. Earlier this year, Public.com acquired Otis, an alternative asset trading platform.
Example of alternative assets that you can invest in includes NFTs, luxury goods, art, traditional collectibles, and other similar assets. You can buy “pieces” of these assets and save them in your portfolio.
This access to different assets will allow you to diversify your portfolio. You can buy stocks, cryptos, collectibles, and NFTs. It enables you to build a diversified portfolio on one platform.
However, Public.com does not provide in-depth research and interactive charts, which professional investors often desire. In addition, the platform does not offer retirement or trading accounts. The platform could add this feature in the nearest future.
Fees
Public.com does not charge investors for trading stocks. You also do not have to pay account fees. But, Public.com offers an optional premium plan. This allows users to access market research information that would improve their investment knowledge.
How Easy To Use Is Public.com?
Public.com has user-friendly mobile and web apps. Therefore, you can choose either depending on your choice. Moreover, both options are fast and very reliable.
Meanwhile, Public.com usually displays some information on the platform, such as other users’ recent trades. Therefore, some users might find this feature helpful as they can evaluate these trades.
Unfortunately, if you prefer a distraction-free and streamlined experience, you cannot find it off. Public.com often displays company insights on the platform. However, it is helpful because you can use it to make informed decisions before investing.
You will see three tabs on the app: Explore, Portfolio, and Community. “Explore” allows you to search for people, and securities, join live events, view weekly earnings of companies, and enjoy educational materials.
“Community” is where you engage with other investors, while “Portfolio” displays your assets.
Is Public.com Secure?
The trading platform is a US entity registered with FINRA (the Financial Industry Regulatory Authority) and SIPC (Securities Investor Protection Corporation). Thus, you have nothing to worry about, as your funds are safe.
If Public.com should encounter a significant problem, users’ securities and cash up to about $500,000 are protected by SIPC insurance. This shows that the platform cares about your investment.
Furthermore, safety is another top priority for Public.com. Besides, the recent cyberattacks in the industry are enough reasons to use a platform with maximum security.
Public.com also offers AES 128-bit encryption, bank-grade security, and two-factor authentication. Ensure you activate the two-factor authentication after you create your account.
Public.com uses TLS to secure sensitive banking information in transit. This ensures your card details and personal information remain safe while purchasing stocks, crypto, or alternative assets.
A Professional Customer Support
Public.com has 24/7 customer service for its users. If you need quick assistance in any form, Public.com’s professional customer service support is available to answer your questions and offer guidance. Their team is available via email, in-app, or live chat.
Conclusion
Public.com is a good choice if you are an upcoming investor who wants to trade individual ETFs, stocks, crypto, and digital collectibles on a user-friendly platform. Although the platform does not have options trading or margin accounts, those tools are usually for professional and sophisticated investors. Public.com’s lack of minimums and fees, coupled with its simple UI design, is a platform you should consider as a newbie investor.
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