You’re prepared to start your funding journey, however it could really feel overwhelming to decide on the correct platform with so many choices on the market. We get it—and we’ve received you lined.
Robinhood and Public.com are two of the largest names within the recreation. How do you determine which one is best for you? We all the time suggest studying about funding platforms earlier than you employ them.
On this Public vs Robinhood assessment, we’ll reveal what makes these two platforms comparable, in addition to what makes every distinctive. We’ve included details about options, the consumer expertise, charges and prices, and our tackle which sort of investor every platform is greatest suited to.
By the point you’ve completed studying, you’ll have a deal with on how Public and Robinhood examine and which platform it is best to use to begin investing.
Overview of Robinhood and Public.com
Let’s begin with an summary of every platform to present you a strong base of understanding of what every has to supply.
Robinhood
Robinhood is a mobile-first digital buying and selling platform that received its begin again in 2013, when Vladimir Tenev and Baiju Bhatt integrated as Robinhood Markets, Inc. Their aim was to democratize investing by making it free, simple, and addictive. They launched the Robinhood app in March of 2015. The corporate is a licensed broker-dealer and a member of the Securities Investor Safety Company, SIPC.
In its early years, a lot of the corporate’s progress was achieved by buying corporations equivalent to Say Applied sciences, Cove Markets, X1, and Chartr.
They’ve additionally grown by frequently providing new merchandise. Once they first introduced the addition of cryptocurrency to their listing of obtainable property in 2018, they’d a ready listing with two million members, and had a similarly-long listing 4 years later once they launched their crypto buying and selling pockets.
Key options of Robinhood embrace buying and selling shares, ETFs, and cryptocurrencies; a safe crypto pockets; and a easy and intuitive consumer interface.
Public
Public.com is an investing platform designed to make market investing accessible to all individuals. The corporate received its begin in 2019 and have become the primary to permit for commission-free fractional share investing, one thing that many different platforms, together with Robinhood, have since adopted. (Fractional shares aren’t new and Public.com didn’t invent them, they only democratized them.)
Public is a licensed broker-dealer and a Monetary Business Regulatory Authority, FINRA member.
One of many issues that makes Public distinctive is the group facet of their app. Whereas there are different funding instruments which have a social facet, of which In search of Alpha is an instance, Public was the primary investing app to introduce that component.
Different key options embrace entry to quite a lot of funding property, prolonged buying and selling hours, crypto buying and selling, fractional buying and selling, clear charges, and no charges for order circulation on shares and ETFs.
Professional Tip:
Enroll with Robinhood at the moment! You’ll be able to refer pals to earn as much as $1500 per yr in FREE STOCK!
As of 2024, Public.com has greater than three million customers (up from lower than a million on the finish of 2020) and an estimated worth of $1.2 billion.
| Robinhood | Public.com | |
| Asset lessons obtainable | Shares, ETFs, chosen cryptocurrencies, ADRs | Shares, ETFs, bonds, choices, cryptocurrencies and treasuries |
| Fee on trades? | No | No |
| Allowable trades | Market orders, restrict orders, cease orders, cease restrict orders, trailing cease orders | Market orders, restrict orders, cease orders |
| Academic assets | Articles and movies | Articles, screeners, and an funding calculator |
| Charges | No commissions; charges could apply for different transactions | No commissions; charges could apply for different transactions |
| Customer support | 24/7 chat assist; telephone assist throughout enterprise hours | Reside chat, telephone, and e mail |
We’ll get into extra element concerning the charges charged by Robinhood and Public later on this assessment.
Public vs Robinhood – Options Comparability
Let’s do a deeper dive on crucial options of Public and Robinhood.
Buying and selling Expertise
The buying and selling expertise on Robinhood is supposed to be user-friendly and easy, and it delivers on each counts. Utilizing the Robinhood app or net platform, it’s simple to provoke trades. In actual fact, a commerce could also be accomplished in just some minutes and with a number of clicks, even for lively merchants seeking to conduct choices buying and selling.
The cell buying and selling expertise on Public.com can be clean and user-friendly. Trades and gross sales could take lower than a minute to finish. It’s additionally simple to fund your account and withdraw funds to your financial institution.
By way of buying and selling expertise, we’d say it’s a tie. Each platforms are simple to make use of and splendid for newbies.
Professional Tip:
Enroll with Robinhood at the moment! You’ll be able to refer pals to earn as much as $1500 per yr in FREE STOCK!
Funding Choices
Robinhood gives a number of sorts of funding choices. It received its begin by permitting funding in simply two asset lessons: shares and exchange-traded funds (ETFs). It has since expanded to permit for funding in 20 cryptocurrencies, together with Bitcoin, Ethereum, Dogecoin, and USDC. At the moment, it’s not attainable to commerce bonds or mutual funds on Robinhood, and that may pose a problem in the case of portfolio diversification.
There’s additionally an choice to arrange an IRA with Robinhood and get matching funds: 1% for normal members and three% for Robinhood Gold members.
On Public.com, customers can commerce shares, ETFs, choices, cryptocurrencies, American Depositary Receipts, fractional shares, and bonds. The inclusion of bonds is beneficial as a result of it’s simple to diversify your portfolio. In complete, Public.com permits for buying and selling of 16 crypto cash by way of Bakkt Crypto. (It’s essential to notice that Bakkt Crypto shouldn’t be affiliated with Public.com and never a FINRA member.)
Public com doesn’t have a retirement account, however they do supply a high-yield financial savings account that pays 4% APR, in addition to a high-yield bond account that pays 6.8%.
Charges and Prices
Each Public and Robinhood trades are topic to regulatory charges, and people charges are handed on to you as a consumer. Right here’s a rundown of the opposite charges which will apply.
Robinhood costs $0.50 as an index choices buying and selling payment totally free members, and $0.35 for Robinhood Gold members. ACH transfers are free, however there’s a $25 payment for outgoing wire transfers. There’s a full slate of regulatory charges, most of that are simply fractions of a penny. You’ll find the complete payment desk right here.
Public costs a flat payment of $2.99 for trades made throughout prolonged market hours and for OTC trades, not nice for extra lively merchants. It additionally costs for multi-asset funding plan trades, which price between $0.49 and $1.99 totally free customers. There’s a $75 payment to switch your property to a different dealer, and there may additionally be charges concerned if you wish to switch cash to your financial institution by way of wire. Try their full payment schedule right here.
Each platforms have a premium possibility. Robinhood Gold prices $5 per thirty days or $50 per yr, whereas Public Premium prices $10 per thirty days or $96 per yr. Each plans supply customers the possibility to save cash on charges and entry further options.
Professional Tip:
Enroll with Robinhood at the moment! You’ll be able to refer pals to earn as much as $1500 per yr in FREE STOCK!
Cell App Usability
Robinhood’s cell app is well-reviewed and common. The interface is designed to be really easy to make use of that newbies can soar in and begin buying and selling instantly. It’s received a easy and easy-to-navigate menu. You will get assist inside the app if you want it, and you may also entry Robinhood’s academic assets to be taught extra about buying and selling earlier than you soar in.
Public’s app is likewise nicely regarded and simple to make use of. Trades will be positioned with just some faucets and it’s simple to entry assist and assets. Learners can begin buying and selling immediately and so they also can find out about investing on the app.
The 2 apps have practically an identical star scores. Within the Google Retailer, Robinhood’s app will get 4.2 stars out of 5, and Public’s app will get 4.1 stars.
Who Ought to Use Public vs Robinhood?
Should you’re somebody who desires a brief listing of investments which might be simple to grasp, and an app that’s beginner-friendly, then Robinhood could also be your only option. You received’t get entry to bonds and another asset lessons, however you’ll get entry to a big selection of shares, ETFs, and cryptocurrencies.
We’d additionally suggest Robinhood for anyone who doesn’t have an employer-sponsored retirement account. Robinhood gives 1% matching totally free members and three% for Robinhood Gold members.
Public.com gives a wider array of asset lessons for investments, together with bonds and choices. It’s nonetheless an excellent platform for newbies, however is likely to be barely extra advantageous for intermediate to superior traders.
We just like the social and group facet of Public, too. Should you’re somebody who likes to swap concepts with different traders, then Public has the sting in that regard, along with each platforms having superior analysis instruments.
Since each apps are free to make use of, it could be advantageous to arrange accounts on each and see which one you like.
Public vs Robinhood – Person Expertise Comparability
Robinhood customers have quite a lot of good issues to say concerning the consumer interface and the general expertise of utilizing the app. Folks additionally reward the IRA contribution matching, low margin charges, and money sweep. A number of the complaints embrace sluggish customer support response occasions for requests submitted by way of the app and the shortage of detailed funding monitoring options. Most opinions remark that the app is greatest suited to newbies.
One of many issues that stood out as we learn Public.com opinions is that the workforce there’s continuously working to enhance the app. They’re aware of opinions. Customers have praised the app’s simple navigation and deposit mechanism, which permits customers to deposit funds utilizing a debit card and withdraw again to the cardboard, too. Some of the frequent complaints is that extra options are being paywalled, equivalent to extra superior analysis instruments. One other is the shortage of superior charting choices.
General, we’d say the Robinhood UX is right for newbies whereas Public is barely extra complicated and gives extra choices for superior customers.
Conclusion
The underside line when evaluating Public vs Robinhood is that each apps supply a streamlined consumer expertise. We’d say that Robinhood is greatest suited to newbie traders or those that wish to reap the benefits of IRA matching contributions, whereas Public has a number of extra bells and whistles which will enchantment to extra skilled traders.
Neither platform is absolutely suited to in-depth funding analysis and charting, so you could have to improve to premium or to make use of these apps together with an funding analysis platform to get the very best outcomes.
FAQ
We expect Robinhood has a slight edge over Public com when it comes to usability for newbies. Should you’re somebody who doesn’t have loads (or any) funding expertise, we expect beginning with Robinhood shall be helpful.
Sure, Public.com gives a complete of 16 cryptocurrencies by way of its partnership with Bakkt Crypto. Should you’re somebody who desires to check out crypto investing, you are able to do it with Public.com
