You’re ready to dive into the world of investing or trading, and you’ve narrowed your options down to Public.com and Robinhood. Both platforms promise to make trading as slick and easy as pizza ordering. But which one is going to be your financial BFF? Let’s dissect these platforms and find out.
Pros, Cons, and Best For
Public.com
Best For:
- Social trading
- Beginner investors
- Educational resources
Pros:
- No commission on stock trades
- Fractional shares available
- Strong educational content
Cons:
- Crypto trading markups
- Limited advanced trading features
- No options trading
Robinhood
Best For:
- Options traders
- Crypto enthusiasts
- Users seeking comprehensive trading features
Pros:
- Commission-free trading on stocks, ETFs, and options
- Access to IPOs
- Comprehensive mobile app
Cons:
- Margin trading fees
- $100 account transfer fee
- Past security issues
- Pros, Cons, and Best For
- Public.com
- Robinhood
- See All 16 Items
Fees
Let's face it, fees are the buzzkill of the trading party. Both Public.com and Robinhood boast commission-free trading. But there's always a catch, right?
Public.com keeps it clean with no account fees, commission on stock trades, or hidden charges. What’s not to love? However, their crypto trading comes with a bit of a markup.
Robinhood, the OG of commission-free trading, offers zero-commission on stock, ETF, and options trades. But be wary of their margin trading fees and that $100 account transfer fee if you decide to move your money elsewhere.
While you’re at it, you can get free stocks from Robinhood.
Winner:
Tie. Both platforms shine in the no-commission department, but keep an eye on those additional charges.
Accounts and Features
Public.com is the social butterfly of trading platforms. It combines trading with social features, letting you see what others invest in and why. They offer fractional shares, so you can own a piece of the pie without forking over big bucks. Plus, they’re big on educational content to keep you informed.
Robinhood is a feature-packed powerhouse that offers options trading, crypto trading, and even a cash management account. It also provides fractional shares and access to IPOs. Its premium Robinhood Gold service gives you more buying power and access to professional research.
Winner:
Public.com. For its unique social trading aspect and focus on education, Public.com takes the cake here.
Mobile App
In the age of the smartphone, a killer mobile app is non-negotiable. Public.com’s app is user-friendly and aesthetically pleasing, making it easy to navigate even for newbies. It’s available on both iOS and Android.
Robinhood’s app is sleek, intuitive, and packed with features. It’s been a favorite among millennial traders for a reason. The app offers everything from real-time data to news updates, making it a robust tool for any trader.
Winner:
Robinhood. The app’s comprehensive features and seamless experience give it the edge.
Customer Support
Customer support can be a lifesaver when things go south. Public.com offers email support and a comprehensive FAQ section to help you.
Robinhood has upped its game with 24/7 phone support for Gold members and email support for everyone. Their help center is extensive and provides answers to the most common questions.
Winner:
Robinhood. 24/7 phone support for Gold members is a big win for customer service.
Ease of Use
Public.com’s platform is as user-friendly as they come. Account setup is a breeze, and the social features make it easy to learn from others.
Robinhood is known for its simplicity and ease of use. The interface is clean and straightforward, making it perfect for beginners. They also offer simulated returns to help users get the hang of things.
Winner:
Tie. Both platforms excel in user-friendliness and offer great tools for beginners.
Safety
Safety is a big deal when it comes to your hard-earned money. Public.com is a SIPC member, meaning your securities are protected up to $500,000. They also have strong security measures in place to protect your account.
Robinhood is also SIPC insured and takes security seriously, with two-factor authentication and other safety features. However, they’ve had some bad press regarding security breaches in the past.
Winner:
Public.com. With a clean security record, Public.com edges out Robinhood here.
Frequently Asked Questions
Which is better, Robinhood or Public?
It depends on your trading style. Public is great for social trading and education, while Robinhood offers more advanced trading options and features.
How trustworthy is Public.com?
Public.com is SIPC insured and has a strong reputation for transparency and security, making it a trustworthy platform.
Is there a downside to Robinhood?
While Robinhood offers many great features, it has had issues with security breaches in the past, and some users have reported poor customer service experiences.