Is Public a Legit Stock App? This is a question that many potential investors may ask themselves when considering using the Public app for their stock trading needs. In this article, we will explore the features and benefits of the Public app, as well as provide some tips for using it effectively. So, let’s dive in and find out if Public is a legit stock app.
Before we can determine whether Public is a legit stock app or not, let’s first define what a stock app is and its purpose. A stock app is a mobile application that allows users to buy and sell stocks directly from their smartphones or tablets. The purpose of a stock app is to provide investors with a convenient and accessible platform to trade stocks, monitor their investments, and stay updated on the latest market trends.
Key Features of Public
Now that we have a basic understanding of what a stock app is, let’s take a look at some of the key features that Public offers:
1. Fractional Shares
One of the standout features of Public is its ability to offer fractional shares. This means that users can invest in a portion of a share, rather than having to buy a whole share. This feature makes it easier for beginner investors to get started with smaller amounts of money and diversify their portfolio.
2. Community Investing
Public also emphasizes community investing, allowing users to see what stocks other investors are buying and selling. This social aspect of the app can provide valuable insights and ideas for users looking to make informed investment decisions.
3. Educational Resources
Public provides a range of educational resources, including articles, videos, and curated lists of stocks. These resources can help users expand their knowledge of investing and make more informed decisions.
4. No Account Minimums
Unlike some traditional brokerage firms, Public does not require a minimum account balance to get started. This makes it accessible to investors of all financial backgrounds.
What are the Main Features Referred to Above?
The main features mentioned above are the fractional shares, community investing, educational resources, and no account minimums. Fractional shares allow investors to buy a portion of a share, making it easier to diversify their portfolio with smaller amounts of money. Community investing provides insights and ideas from other investors, allowing users to make more informed decisions. The educational resources offered by Public help users expand their knowledge of investing. Lastly, the lack of account minimums makes Public accessible to investors of all financial backgrounds.
Benefits of Using a Stock App
Now that we have explored the key features of Public, let’s discuss some of the benefits of using a stock app in general.
1. Accessibility and Convenience
One of the biggest benefits of using a stock app is the accessibility and convenience it offers. With a stock app, investors can trade stocks anytime, anywhere, as long as they have an internet connection. This eliminates the need to be tied to a desktop computer or visit a physical brokerage office.
2. Ability to Monitor and Transact on Mobile
Stock apps allow users to monitor their investments and transact on the go. Users can easily check their portfolio performance, receive real-time market updates, and execute trades directly from their mobile devices. This level of convenience and flexibility can be especially advantageous for busy individuals who are always on the move.
Tips for Using a Stock App Effectively
Now that we understand the benefits of using a stock app, let’s discuss some tips for using it effectively:
1. Establish Clear Financial Objectives and Risk Management Strategy
Before you start using a stock app, it’s important to establish clear financial objectives and a risk management strategy. Determine your investment goals, time horizon, and risk tolerance. This will help guide your investment decisions and prevent impulsive trading.
2. Take Advantage of Analysis and Research Tools
Most stock apps provide analysis and research tools to help users make informed investment decisions. Take advantage of these tools to analyze stock performance, access financial reports, and stay updated on market trends. Utilizing these tools can give you a competitive edge and increase your chances of making successful trades.
In conclusion, Public is indeed a legit stock app that offers a range of features and benefits for investors. With its fractional shares, community investing, educational resources, and no account minimums, Public provides a user-friendly platform for individuals looking to enter the world of stock trading. By following the tips mentioned in this article, you can use Public or any other stock app effectively and maximize your investment potential.
1. Is Public a safe app to use for stock trading?
Yes, Public is a safe app to use for stock trading. It is regulated by the Securities and Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA). Public also employs industry-standard encryption and security measures to protect user data.
2. Can I trade options on the Public app?
No, currently Public only supports the trading of stocks and ETFs (exchange-traded funds). Options trading is not available on the platform.
3. Are there any fees associated with using Public?
Public does not charge any commission fees for trades. However, there may be fees associated with certain transactions, such as wire transfers or non-USD currency conversions. It is important to review the fee schedule on the Public website for a complete understanding of any potential charges.
4. Can I link my bank account to the Public app?
Yes, you can link your bank account to the Public app for easy deposits and withdrawals. Public supports most major banks in the United States.
5. Does Public offer customer support?
Yes, Public offers customer support via email and live chat. The support team is available during market hours to assist with any questions or issues users may have.
6. Can I trade stocks from international markets on the Public app?
No, currently Public only supports the trading of stocks listed on US exchanges. International stocks are not available for trading on the platform.
7. Is Public available for both Android and iOS devices?
Yes, Public is available for both Android and iOS devices. The app can be downloaded for free from the Google Play Store or the Apple App Store.