Public.com is a developer of a social investing application designed to unlock greater access to the stock market for a broader audience of investors. Through their application, members can own fractional shares of stocks and exchange traded funds (ETFs). The company is a member of FINRA and SIPC.
Besides allowing members to buy fractional shares, they can follow interest-based themes and learn from a community of subject-matter experts and friends without commission, enabling users to invest and earn without hassle.
This includes allowing members to follow others trade activity. This includes allowing users to make their transactions public to those following them, or keep them private. Users are also able to comment on transactions or through more direct communication through Public.com's application.
Any fees incurred through trading, for example management fees for some ETFs, are passed along to users accounts. Otherwise Public.com does not charge commission, except on trades placed through their customer support team for which they charge a $30 per trade fee. They charge small fees to cover their SEC sell trade fees, which cost a user $0.02 per $1000 worth of stock sold. And there is a Trading Activity Fee which is equivalent to $0.000119 per share.
Public.com has said they are developing their platform towards a place where they may begin to charge a subscription fee. Otherwise, Public.com works with APEX Clearing House which pays them for their business. Through APEX Clearing House, they engage in smart order routing through which Public.com and APEX Clearing House receive rebates on certain orders. They are required to always seek the best price for their users regardless of rebates.
Public.com also earns interest on uninvested cash balances at a rate of 0.2%.