Evaluating E*TRADE and Public.com: A Comprehensive Side-by-Side Analysis of Leading Trading Platforms

Are you a new trader or investor thinking about shifting to an online platform? But feeling overwhelmed by all the options out there? Let’s simplify this for you. In this discussion, we will have a friendly comparison of two popular platforms: Public.com and E*Trade.

Now, before diving in, it’s worth noting that some online platforms don’t always offer top-notch services and low costs, even though they’re based on the internet. Thankfully, however, both Public.com and E*Trade have great reputations and offer affordable services.

So, what’s the key difference between Public.com and E*Trade? Primarily, it’s about their approach to investing. Public.com is designed with a beautiful, user-friendly interface. It’s incredibly simple to use and is a mobile-first platform. This means you can trade stocks, ETFs, and even cryptocurrency straight from your smartphone!

On the flip side, E*Trade is a more traditional brokerage. It offers a variety of account types such as retirement and joint accounts and a wide range of investment products. While E*Trade doesn’t support cryptocurrency, it does provide access to bonds, options, futures, and mutual funds. Additionally, it has more tools for data analysis and research which may be a tad complex for beginners.

Public.com born in 2018, initially known as ‘Matador,’ is great for beginners as well as experienced investors. This platform offers teaming up with other users through a feature that enhances collaboration. It’s an interactive investment platform which allows you to watch what your peers are trading and even discuss strategies with them!

E*Trade, being one of the pioneer online brokers in the U.S, there’s an allure for all—be it new investors, casual traders, or anyone wanting to start investing. This platform has a lot to offer, including news feeds, research tools, and interactive educational resources.

When it comes to investment options, Public.com provides access to over 5,000 stocks and ETFs and supports cryptocurrency with more than 25 different types of coins. Meanwhile, E*Trade offers a variety of assets like stocks, ETFs, mutual funds, bonds, and commodities, although it doesn’t support cryptocurrency or foreign exchange.

In terms of charges, both platforms provide commission-free trades for stocks and ETFs. Public.com does not have any account maintenance fees or minimum deposit requirements. However, E*Trade, while offering competitive rates, might have fees for certain actions, like live-broker access or specific contract trades.

Both platforms have user-friendly designs. Public.com is extremely straightforward, with easy-to-understand functions, making it perfect for beginners. E*Trade also caters to an intuitive experience; however, it prioritizes offering more data which might make it a bit more complex in comparison.

Finally, if research and data are important to you, E*Trade shines with a vast array of high-quality investing tools and regular updates. Public.com keeps it simpler with data to help you make sound investment decisions and the opportunity for interactivity with other investors.

In essence, Public.com is ideal if you’re looking for a simplistic, community-driven investing experience. However, if you’re after a greater range of research tools and different types of investments, E*Trade might be the one for you. For optimal results, why not try opening an account on both platforms and see which suits you best?