The post Best Public Alternatives by Ryan Peterson appeared first on Benzinga. Visit Benzinga to get more great content like this.
The best Public alternatives are Interactive Brokers, moomoo and Robinhood.
Looking for a fresh take on investing? If you feel like Public.com isn’t quite hitting the mark for your trading needs, don’t worry, we’ve got you covered. We’ll dive into some of the best alternatives to Public.com, each with unique offerings that might just be the perfect fit for your financial goals. Let’s cut through the noise and get straight to the action.
Quick Look at the Best Public Alternatives:
- Best for Experienced Traders: Interactive Brokers
- Best for Free Trading: moomoo
- Best for Casual Investors: Robinhood
- Best for Comprehensive Services: Charles Schwab
- Best for Advanced Features: Webull
- Best for Social Trading: eToro
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6 Best Alternatives to Public
So, you’re considering jumping ship from Public.com? Let’s explore some of the top contenders vying for your attention.
1. Best for Experienced Traders: Interactive Brokers
get started
securely through Interactive Brokers’s
website
This latest groundbreaking technology is IBKR GlobalAnalyst, a new trading tool that helps investors compare the rate of PEG or price-earnings growth valuations and provide more immediate and comprehensive financial metrics of stocks, globally.
Recognizing that stock selection can be challenging for investors to compare the valuations of domestic and international stocks, Interactive Brokers created GlobalAnalyst to offer investors a simple, yet powerful tool to easily evaluate investment opportunities around the world.
Using GlobalAnalyst, investors can search for stocks by region, country, industry, market capitalization and currency to uncover undervalued stocks worldwide. The resulting table displays the current market and financial metrics, including the PEG Ratio. The PEG Ratio is the PE ratio divided by the three-year compound earnings growth rate, and smaller PEG Ratios typically indicate undervalued companies.
Best For
- Price earnings growth valuations
- Easily evaluate investment opportunities
Interactive Brokers is a heavyweight in the trading arena, offering a wide range of assets, including stocks, options, futures and forex. With a robust platform that caters to professional traders, IBKR provides advanced tools for in-depth market analysis and trade execution. Their fee structure includes tiered and fixed pricing options, with commissions as low as $0.005 per share for stocks and ETFs with an IBKR Pro account and $0.25 per contract on options. This makes it highly cost-effective for active traders, especially those dealing in large volumes.
Why We Picked It: Interactive Brokers stands out for its low-margin rates and advanced trading tools. It’s ideal for seasoned investors who need more than just the basics. While their fee structure can be complex, the cost savings on margin trading and access to international markets make it a top pick.
2. Best for Free Trading: moomoo
get started
securely through Moomoo’s
website
Investing is a long-term journey, and moomoo can help guide investors of all levels every step of the way. Utilized by over 21 million users worldwide – including in the US, Singapore, Australia, Japan, Malaysia and Canada – moomoo is an investment and trading platform that empowers investors with pro-grade, easy-to-use tools, data and insights.
moomoo provides advanced charting tools, technical analytics and Level 2 data for funded accounts, so investors have the resources to make more informed investment decisions. Users can access educational materials and interactive events, as well as share and learn through the inline community.
With a low-cost, competitive fee structure, moomoo can work for all investors.
Best For
- Novices
- Intermediate and advanced traders
- Active traders
- Equity and index options trading
- Commission free trading for US options, stocks and ETFs and 6.8% margin rate
- Wealth of free options tools and features, including customizable options chain, options calculator, unusual options activity, implied volatility analysis, 13 options strategies and 0 days to expiration (0DTE) options by volume
- Free Level 2 data for funded accounts
- Advanced charting tools with 100+ indicators, 37+ drawing tools and 20 candle patterns
- No minimum deposit to open an account
- 24/7 online chat support
- 5.1% APY in Cash Sweep program for new and qualified users
- Does not support crypto
- Does not support retirement accounts or mutual funds
Moomoo offers commission-free trading on U.S. stocks, ETFs and options, making it an attractive alternative for budget-conscious investors. The platform also has a suite of research tools and real-time data, all wrapped up in a user-friendly interface. Despite being commission-free, moomoo has a few fees for specific services, such as a $0.50 fee per options contract and minimal fees for margin trading.
Why We Picked It: moomoo shines with its zero-commission trades and market data. Unlike Public, moomoo provides access to extended trading hours, which can be a game-changer for active traders. The community feature allows users to share insights and strategies, making it a social yet serious trading environment.
3. Best for Casual Investors: Robinhood
get started
securely through Robinhood’s
website
Robinhood is a popular trading platform known for its commission-free trades and user-friendly mobile app. Ideal for novice investors, Robinhood makes it easy to buy and sell stocks, ETFs and cryptocurrencies. The platform offers a straightforward, no-frills experience, making it accessible for users new to investing. With features like fractional shares and a sleek interface, Robinhood lowers the barriers to entry for investing, allowing users to start with just a few dollars. It lacks the advanced tools and research options that more experienced investors might seek. Overall, Robinhood is a great choice for beginners seeking a simple way to invest.
Best For
- Beginners looking for simplicity
- Mobile-first investors
- Commission-free trades
- User-friendly mobile app
- Instant double
- Cash management
- Access to cryptocurrencies
- Limited research tools
- No mutual funds available
- Basic customer support options
Robinhood has become synonymous with commission-free trading and user-friendly design. It offers an easy-to-navigate platform with instant access to stocks, ETFs, options and cryptocurrencies. Robinhood charges no commission fees for trades, but there are still some costs, such as a $5 monthly fee for Robinhood Gold, which offers additional features like margin trading and market data.
Why We Picked It: Robinhood’s appeal lies in its simplicity and accessibility. It’s perfect for beginners who want to dip their toes into the stock market without getting overwhelmed. The platform’s clean design and intuitive features make it easy to manage your portfolio on the go.
4. Best for Comprehensive Services: Charles Schwab
get started
securely through Charles Schwab’s
website
Charles Schwab is a solid choice for traders of all skill levels. It offers full access to the U.S. equity and options markets as well as 30 international markets. Traders can create a diverse portfolio with $0 commissions and no account minimums. Schwab’s margin trading is expensive but Schwab makes up for it with affordable futures and options trades, along with a comprehensive mobile offering.
Best For
- 3 trading platforms perfectly in sync makes matching your platform to your skill level a snap
- Excellent futures trading education for new traders
- $0 account minimum means anyone can start trading
- Wide range of available assets to trade, including futures and 30 global markets
- SmartStreet Edge platform is powerful enough for advanced traders, yet easy enough for new traders to utilize
- Unique educational resources (like infographics and podcasts) make learning fun
- Margin rates are more expensive than competitors
- More limitations on available margin than competitors
- Expensive mutual funds
Charles Schwab offers a comprehensive suite of investment services, from traditional brokerage accounts to retirement planning and robo-advisory services. With a reputation for excellent customer service, Schwab provides a full-service experience. The fee structure includes $0 commissions on online stock and ETF trades and options trades cost $0.65 per contract.
Why We Picked It: Charles Schwab is a one-stop shop for all your financial needs. It offers a broad range of investment options, including mutual funds, bonds and futures. Schwab’s educational resources and research tools are top-notch, making it an excellent choice for investors looking to expand their knowledge and portfolio.
5. Best for Advanced Features: Webull
get started
securely through Webull’s
website
Webull is a commission-free trading platform designed with both beginner and advanced investors in mind. Offering an extensive range of assets like stocks, ETFs, and futures, Webull makes it easy for users to manage their investments through a highly intuitive interface. With educational resources, paper trading options, and no minimum account balance required, Webull caters to those looking to start investing without high upfront costs. The platform’s mobile app ensures that users can trade anytime, anywhere, making it a flexible choice for those with busy lifestyles. Webull’s customer service options are limited, and the platform may feel overwhelming to those completely new to investing.
Best For
- Commission-free trading
- Mobile and desktop trading
- Beginners and experienced traders alike
- No commissions on trades
- Extensive range of tradable assets
- Easy-to-use mobile app
- Limited customer service options
- Learning curve for complete beginners
Webull offers a feature-rich platform with advanced charting tools, technical indicators and customizable layouts. It supports commission-free trading for stocks, ETFs and options, making it a popular choice for tech-savvy traders. The platform charges $0 commissions but includes a fee of $0.55 per options contract. Other costs may include fees for data subscriptions and margin trading.
Why We Picked It: Webull is perfect for those who want to improve their trading skills. The platform’s advanced tools and extended trading hours give users a competitive edge. Webull’s paper trading feature allows newbies to practice without risking real money.
6. Best for Social Trading: eToro
get started
securely through eToro’s
website
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
Past Performance is not an indication of future results.
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRAand SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk.
eToro is a leading trading and investing platform that’s recognized for its stock and crypto broker services. Its standout feature, copy-trading, allows users to reproduce the trades of other investors on the platform. In addition to stocks and cryptocurrencies, eToro provides Smart Portfolios — diversified portfolios of crypto assets managed by eToro.
The platform is regulated by regulatory authorities such as the FCA, SEC, ASIC and CySEC, ensuring a level of trust and security for users. While eToro boasts a user-friendly web and mobile platform, it has limited customizability and lean educational and research offerings. Overall, eToro provides a convenient and regulated platform for social trading and investment.
Best For
- Investors who want to follow and copy other traders
- Investors who want to trade crypto, stocks and options on the same platform
- Beginners who want to invest in stocks and ETFs with zero commissions and copy-trading features
- Commission-free stocks and ETFs trading
- Innovative social investing platform with CopyTrader feature
- Access to a wide range of cryptocurrencies, stocks and ETFs
- Free virtual trading account and digital wallet
- High spreads for buying and selling crypto assets
- Contracts for difference (CFDs) unavailable inside the U.S.
eToro is a unique platform that combines traditional trading with social features. It offers a wide range of assets, including stocks, cryptocurrencies and options. The platform’s CopyTrader feature allows users to mimic the trades of successful investors. eToro charges no commissions on stock trades but has fees for other services, such as a $0.65 per options contract.
Why We Picked It: eToro’s social trading features set it apart from other platforms. It’s ideal for those who want to learn from experienced traders or diversify their strategies. eToro also offers a demo account, making it easier for beginners to get started without any financial risk.
What Is Public?
Public.com is a commission-free trading app that aims to make the stock market accessible to everyone. It offers a unique social experience, allowing users to follow friends, see their portfolios and share investment insights. Public focuses on long-term investing and educational content, making it a solid choice for newbies.
Should You Invest in Public?
Investing in Public can be a great option for those who enjoy a social, community-driven approach to investing. The platform is user-friendly, offers fractional shares and provides a space for users to discuss and learn about investing.
- Community and Social Features: Public’s social aspect allows you to follow friends and see their investment moves, fostering a sense of community.
- Educational Resources: The app offers plenty of educational content, making it ideal for beginners.
- Fractional Shares: This feature makes it easy to start investing with smaller amounts, offering accessibility to high-priced stocks.
However, there are some drawbacks:
- Limited Asset Classes: Unlike some of its competitors, Public doesn’t offer a wide range of asset classes, such as options or cryptocurrencies.
- No Advanced Trading Tools: Public lacks advanced charting tools and technical indicators, which might be a deal-breaker for experienced traders.
- Social Feature Overload: While the social features are a unique selling point, they can sometimes be distracting or overwhelming for serious investors.
How to Choose the Best Alternative to Public
When choosing the best alternative to Public, consider the following factors:
- User interface and ease of use: Look for a platform with a clean, intuitive design that makes trading easy.
- Available investment options: Ensure the platform offers the asset classes you’re interested in, such as stocks, ETFs, options, or cryptocurrencies.
- Fee and commission structure: Compare the fees associated with trading, account maintenance and other services.
- Account minimums and deposit requirements: Check if the platform has minimum balance requirements or specific deposit thresholds.
- Mobile app functionality: Evaluate the app’s features, speed and overall user experience.
- Educational resources and research tools: Consider the quality and availability of educational content and research tools.
- Customer support quality: Ensure the platform offers reliable and accessible customer support.
Finding Your Perfect Fit in the Investing World
Choosing the right investment platform is crucial to your financial journey. While Public offers a unique social experience and educational resources, it may not best suit everyone. Whether you’re an experienced trader or a beginner looking to dip your toes into the market, there’s a platform out there that suits your needs. Explore these alternatives and find the one that aligns with your investment goals and trading style.
Frequently Asked Questions
Does public.com have options?
Yes, Public.com offers commission-free options, where you can earn $0.06 –$0.18 per contract traded.
Answer Link
Does public.com have an app?
Yes, Public.com offers a mobile app available for both iOS and Android devices.
Answer Link
Is public.com a good broker?
Public.com is a good broker for beginners and those who value social investing features, but it may not be ideal for advanced traders.
Answer Link
Can public.com be trusted?
Yes, Public.com is a regulated broker and provides a secure platform for trading.
Answer Link
Can I day trade on Public?
While you can technically day trade, Public.com limits the activities of accounts that engage in day trading.
Answer Link
Does public.com have fees?
Public.com offers commission-free trading but may have other fees, such as for premium services or regulatory trading fees.
Answer Link
The post Best Public Alternatives by Ryan Peterson appeared first on Benzinga. Visit Benzinga to get more great content like this.