“Unveiling the Battle of Commission-Free Platforms: Public.com Meets Fidelity”

If you’re new to investing or looking to switch to an online broker, there’s a vast array of platforms to choose from. Among these options, Public.com and Fidelity are two well-regarded platforms known for their reasonable fees.

Public.com and Fidelity differ mainly in their service offerings. Fidelity has a wide variety of investment options and account types as it’s a full-service brokerage. On the other hand, Public.com focuses more on stocks, ETFs, and cryptocurrency, making it simpler and more beginner-friendly. However, the limited offerings may not fulfill some investors’ requirements.

Public.com is an app-based, user-friendly trading platform that offers commission-free trading. What sets it apart is its social approach to investing. Users can share their investment interests, see what others are buying or selling, and engage in meaningful conversations. But the best advantage of Public.com is that they simplify investing, making it more accessible to everyone, without any minimum investment or trading commission.

On the other hand, Fidelity, established in 1946, has an extensive online presence with significant client base and assets under management. While mainly focusing on traditional financial products, Fidelity offers a comprehensive range of investment options but lacks cryptocurrency trading. They provide a plethora of resources, index funds with a $0 expense ratio, and comprehensive customer support.

Speaking of investment options, Public.com offers over 5,000 stocks and ETFs and allows the purchase of full or fractional shares without any commission. Their platform also categorizes investments into themes, helping investors find stocks that align with their interests.

On the contrast, Fidelity, being a full-service broker, has an extensive selection of products. Besides, it focuses on its own financial products, e.g., mutual and index funds with a 0% expense ratio. It also offers international stocks, ETFs, traditional, rollover and SEP IRAs, Roth, 401ks, 529 college plans, etc.

The social features make Public.com unique and compelling. Not only is it easy to use, but it offers a refreshing way of networking and sharing ideas with other investors, fostering a sense of community.

In comparison, Fidelity users need a verified identity to open an account, which enables you to access their Active Trader Pro software. The platform is customizable with many useful features such as real-time insights, news streaming, alerts, direct trading from charts, and more.

For those on the go, both platforms offer sophisticated mobile trading applications. Public.com is geared towards simpler research and trade submission, with a limit of three order types. Fidelity’s application is feature-rich, with comprehensive charting options, deposit checks feature, streaming business news, and a podcast center.

In terms of pricing, both platforms offer commission-free trading. Public.com has no maintenance fees or minimum balance requirements. However, charges like paper statements, returned checks, and outgoing domestic wire transfers may incite additional fees. With Fidelity, while there is also commission-free trading, clients may face a fee per option contract and have to maintain a minimum deposit of $2500 for margin accounts.

For the new investor, Public.com provides the right amount of data and research options. On Fidelity, everything needed for in-depth stock, fund analysis is at your fingertips, including real-time analysis, technical trading tools, and more.

In conclusion, both Public.com and Fidelity offer free account creation and come with negligible account maintenance costs. For seasoned investors in need of robust tools, Fidelity is a better pick. But for beginners or casual investors, the simplicity and social features of Public.com take the edge. Still undecided? You might as well check both out and see which suits you better.