Public.com Review
Best for Social Investing
Best for: Long-term retail investors who want no payment for order flow, fractional shares, Treasury/high-yield cash options, and a community-driven investing experience.
Public.com at a Glance
| Minimum Deposit | $0 |
| Account Types | Cash, IRA, Treasury account (US) |
| Platform & Software Fees | $0 base; optional Premium tier |
| Level 2 Data Costs | Not a focus — no professional Level 2 suite |
| Order Routing | No PFOF on stocks — tipping / transparent model |
| Short Locate Availability | No — long-only equities, no short selling |
| Supported Countries | USA |
Overview & Ideal Trader Profile
Public.com blends commission-free investing with a social community feed where users share ideas and portfolios. It differentiates on transparency — notably not accepting payment for order flow on stock trades — and on cash management via Treasury accounts.
The ideal user is a long-term, community-minded retail investor who values transparency and yield on idle cash. It is not a trading platform for scalpers or short sellers — there’s no short selling and no professional depth tooling.
Commissions, Platform & Level 2 Data Fees
Stocks and ETFs trade at $0 commission, with fractional shares available. Public’s Treasury account and high-yield cash options let idle funds earn competitive rates. An optional Premium tier adds deeper research and analytics.
There’s no professional Level 2 market-data suite — depth-of-book trading simply isn’t the product’s focus.
Order Execution, Routing & Latency
Public’s headline is that it does not accept PFOF on stock orders, instead using a transparent model (historically an optional tipping mechanism) to align incentives. Execution is fine for the buy-and-hold audience it serves.
There is no route selection, no hotkey trading, and no DMA — the platform is intentionally simple and built around investing rather than fast execution.
Short Selling & Locate Availability
Public is a long-only equities platform — there is no traditional short selling and no short-locate desk. Bearish positioning is not part of the product.
Traders whose strategy requires shorting should choose a dedicated day-trading or short-selling broker instead.
Third-Party Trust, Safety & Reputation
Public is FINRA-regulated with SIPC protection up to $500,000. Its no-PFOF stance and Treasury/yield features have earned it a solid reputation among transparency-focused investors.
Feedback (~1.6 Trustpilot) is generally favorable on the concept and cash yield, with the usual retail complaints about support and the limited feature set for active traders.
The Honest Breakdown
Pros
- No payment for order flow on stock orders
- Fractional shares from $1
- Treasury account for yield on idle cash
- Social community feed for idea sharing
- SIPC-protected, transparency-focused model
Cons
- Long-only — no short selling
- No professional Level 2 / DMA tooling
- Not suitable for active or scalp trading
- US-only availability
Sub-Score Breakdown
Best for Social Investing
The Bottom Line
Public.com is a transparency-focused, long-only investing app — no PFOF on stocks, fractional shares, Treasury yield on cash, and a social community feed. It’s a solid pick for values-driven long-term investors, but there’s no short selling and no professional depth tooling, and its Trustpilot sample is small and low, so it’s not built for active trading.
Long-term, community-minded investors who value transparency and yield on idle cash.
Day traders, short sellers, or anyone needing Level 2 or direct routing.
