You’re ready to begin your investment journey, but it may feel overwhelming to choose the right platform with so many options out there. We get it—and we’ve got you covered.
Robinhood and Public.com are two of the biggest names in the game. How do you decide which one is right for you? We always recommend learning about investment platforms before you use them.
In this Public vs Robinhood review, we’ll reveal what makes these two platforms similar, as well as what makes each unique. We’ve included information about features, the user experience, fees and costs, and our take on which type of investor each platform is best suited for.
By the time you’ve finished reading, you’ll have a handle on how Public and Robinhood compare and which platform you should use to start investing.
Overview of Robinhood and Public.com
Let’s start with an overview of each platform to give you a solid base of understanding of what each has to offer.
Robinhood
Robinhood is a mobile-first electronic trading platform that got its start back in 2013, when Vladimir Tenev and Baiju Bhatt incorporated as Robinhood Markets, Inc. Their goal was to democratize investing by making it free, easy, and addictive. They launched the Robinhood app in March of 2015. The company is a licensed broker-dealer and a member of the Securities Investor Protection Corporation, SIPC.
In its early years, much of the company’s growth was achieved by acquiring companies such as Say Technologies, Cove Markets, X1, and Chartr.
They’ve also grown by continually offering new products. When they first announced the addition of cryptocurrency to their list of available assets in 2018, they had a waiting list with two million members, and had a similarly-long list four years later when they launched their crypto trading wallet.
Key features of Robinhood include trading stocks, ETFs, and cryptocurrencies; a secure crypto wallet; and a simple and intuitive user interface.
Public
Public.com is an investing platform designed to make market investing accessible to all people. The company got its start in 2019 and became the first to allow for commission-free fractional share investing, something that many other platforms, including Robinhood, have since adopted. (Fractional shares aren’t new and Public.com didn’t invent them, they just democratized them.)
Public is a licensed broker-dealer and a Financial Industry Regulatory Authority, FINRA member.
One of the things that makes Public unique is the community aspect of their app. While there are other investment tools that have a social aspect, of which Seeking Alpha is an example, Public was the first investing app to introduce that element.
Other key features include access to a variety of investment assets, extended trading hours, crypto trading, fractional trading, transparent fees, and no fees for order flow on stocks and ETFs.
Pro Tip:
Sign up with Robinhood today! You can refer friends to earn up to $1500 per year in FREE STOCK!
As of 2024, Public.com has more than three million users (up from less than one million at the end of 2020) and an estimated value of $1.2 billion.
Robinhood | Public.com | |
Asset classes available | Stocks, ETFs, selected cryptocurrencies, ADRs | Stocks, ETFs, bonds, options, cryptocurrencies and treasuries |
Commission on trades? | No | No |
Allowable trades | Market orders, limit orders, stop orders, stop limit orders, trailing stop orders | Market orders, limit orders, stop orders |
Educational resources | Articles and videos | Articles, screeners, and an investment calculator |
Fees | No commissions; fees may apply for other transactions | No commissions; fees may apply for other transactions |
Customer service | 24/7 chat support; phone support during business hours | Live chat, phone, and email |
We’ll get into more detail about the fees charged by Robinhood and Public later in this review.
Public vs Robinhood – Features Comparison
Let’s do a deeper dive on the most important features of Public and Robinhood.
Trading Experience
The trading experience on Robinhood is meant to be user-friendly and simple, and it delivers on both counts. Using the Robinhood app or web platform, it’s easy to initiate trades. In fact, a trade may be completed in just a few minutes and with a few clicks, even for active traders looking to conduct options trading.
The mobile trading experience on Public.com is also smooth and user-friendly. Trades and sales may take less than a minute to complete. It’s also easy to fund your account and withdraw funds to your bank.
In terms of trading experience, we’d say it’s a tie. Both platforms are easy to use and ideal for beginners.
Pro Tip:
Sign up with Robinhood today! You can refer friends to earn up to $1500 per year in FREE STOCK!
Investment Options
Robinhood offers several types of investment options. It got its start by allowing investment in just two asset classes: stocks and exchange-traded funds (ETFs). It has since expanded to allow for investment in 20 cryptocurrencies, including Bitcoin, Ethereum, Dogecoin, and USDC. At this time, it’s not possible to trade bonds or mutual funds on Robinhood, and that can pose a challenge when it comes to portfolio diversification.
There’s also an option to set up an IRA with Robinhood and get matching funds: 1% for regular members and 3% for Robinhood Gold members.
On Public.com, users can trade stocks, ETFs, options, cryptocurrencies, American Depositary Receipts, fractional shares, and bonds. The inclusion of bonds is useful because it’s easy to diversify your portfolio. In total, Public.com allows for trading of 16 crypto coins through Bakkt Crypto. (It’s important to note that Bakkt Crypto is not affiliated with Public.com and not a FINRA member.)
Public com doesn’t have a retirement account, but they do offer a high-yield savings account that pays 4% APR, as well as a high-yield bond account that pays 6.8%.
Fees and Costs
Both Public and Robinhood trades are subject to regulatory fees, and those fees are passed on to you as a user. Here’s a rundown of the other fees that may apply.
Robinhood charges $0.50 as an index options trading fee for free members, and $0.35 for Robinhood Gold members. ACH transfers are free, but there is a $25 fee for outgoing wire transfers. There’s a full slate of regulatory fees, most of which are just fractions of a penny. You can find the full fee table here.
Public charges a flat fee of $2.99 for trades made during extended market hours and for OTC trades, not great for more active traders. It also charges for multi-asset investment plan trades, which cost between $0.49 and $1.99 for free users. There’s a $75 fee to transfer your assets to another broker, and there may also be fees involved if you want to transfer money to your bank via wire. Check out their full fee schedule here.
Both platforms have a premium option. Robinhood Gold costs $5 per month or $50 per year, while Public Premium costs $10 per month or $96 per year. Both plans offer users the chance to save money on fees and access additional features.
Pro Tip:
Sign up with Robinhood today! You can refer friends to earn up to $1500 per year in FREE STOCK!
Mobile App Usability
Robinhood’s mobile app is well-reviewed and popular. The interface is designed to be so easy to use that beginners can jump in and start trading immediately. It’s got a simple and easy-to-navigate menu. You can get help within the app when you need it, and you can also access Robinhood’s educational resources to learn more about trading before you jump in.
Public’s app is likewise well regarded and easy to use. Trades can be placed with just a few taps and it’s easy to access help and resources. Beginners can start trading right away and they can also learn about investing on the app.
The two apps have nearly identical star ratings. In the Google Store, Robinhood’s app gets 4.2 stars out of five, and Public’s app gets 4.1 stars.
Who Should Use Public vs Robinhood?
If you’re someone who wants a short list of investments that are easy to understand, and an app that’s beginner-friendly, then Robinhood may be your best option. You won’t get access to bonds and some other asset classes, but you will get access to a wide array of stocks, ETFs, and cryptocurrencies.
We would also recommend Robinhood for anybody who doesn’t have an employer-sponsored retirement account. Robinhood offers 1% matching for free members and 3% for Robinhood Gold members.
Public.com offers a wider array of asset classes for investments, including bonds and options. It’s still a good platform for beginners, but might be slightly more advantageous for intermediate to advanced investors.
We like the social and community aspect of Public, too. If you’re someone who likes to swap ideas with other investors, then Public has the edge in that regard, in addition to both platforms having advanced research tools.
Since both apps are free to use, it may be advantageous to set up accounts on both and see which one you prefer.
Public vs Robinhood – User Experience Comparison
Robinhood users have a lot of good things to say about the user interface and the overall experience of using the app. People also praise the IRA contribution matching, low margin rates, and cash sweep. Some of the complaints include slow customer service response times for requests submitted through the app and the lack of detailed investment tracking features. Most reviews comment that the app is best suited to beginners.
One of the things that stood out as we read Public.com reviews is that the team there is constantly working to improve the app. They’re responsive to reviews. Users have praised the app’s easy navigation and deposit mechanism, which allows users to deposit funds using a debit card and withdraw back to the card, too. One of the most common complaints is that more features are being paywalled, such as more advanced research tools. Another is the lack of advanced charting options.
Overall, we’d say the Robinhood UX is ideal for beginners while Public is slightly more complex and offers more options for advanced users.
Conclusion
The bottom line when comparing Public vs Robinhood is that both apps offer a streamlined user experience. We’d say that Robinhood is best suited for beginner investors or those who want to take advantage of IRA matching contributions, while Public has a few more bells and whistles that may appeal to more experienced investors.
Neither platform is really suited for in-depth investment research and charting, so you may need to upgrade to premium or to use these apps in conjunction with an investment research platform to get the best results.
FAQ
We think Robinhood has a slight edge over Public com in terms of usability for beginners. If you’re someone who doesn’t have a lot (or any) investment experience, we think starting with Robinhood will be useful.
Yes, Public.com offers a total of 16 cryptocurrencies through its partnership with Bakkt Crypto. If you’re someone who wants to try out crypto investing, you can do it with Public.com