Unearthing the Best in Commission-Free Trading: A Comparative Study Between Public.com and Fidelity

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INVESTING
A Simple Chat About Public.com and Fidelity: Your Free-Trade Platforms

Looking to dip your toes in the trading pool or maybe thinking about swapping your current online broker? There’s a whole world of trading platforms awaiting you. However, they are not all created equal, and some clearly rise above the rest.

Just because a platform is online, doesn’t necessarily mean it’ll save you money. Let’s zero in on two platforms that are known for their solid reputations and reasonable fees: Public.com and Fidelity.

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In the Public.com versus Fidelity debate, the primary difference is that Fidelity provides an extensive range of investment options and account types because it’s a full-service brokerage. Whereas Public.com primarily zeroes in on stocks, ETFs, and crypto. With Public.com’s simplified approach, novice investors will feel at home. However, it might not have all the bells and whistles some seasoned investors are after.

Let’s get to know them a bit better:

Public.com:
Initiating its journey as Matador in 2018, Public.com has since evolved into a mobile trading platform that offers commission-free trading. Its friendly interface is perfect for both newbie and seasoned investors.

A key aspect that sets Public.com apart is its focus on fostering collaboration between traders. You can share your investment journey with other traders and keep up with their investment decisions. It aimed to make investing more accessible for everyone, hence its name.

Joining Public.com is just the beginning! You can interact with fellow investors, gain confidence, grow your portfolio, and even help others. Plus, you can start with no minimum investment and there are no trading commissions.

Fidelity:
Fidelity has been around since 1946. Though it started as a traditional brokerage firm, it’s now an online force boasting more than 20 million investors and a massive $8 trillion in assets.

Fidelity provides a wealth of investment products suitable for long-term investors, although they don’t indulge in cryptocurrency trading. Many of their key features like index funds with a $0 expense ratio and the “Active Trader Pro” platform add to the appeal.

Investment Options:
While Public.com provides access to over 5,000 stocks and ETFs as well as 25 well-known cryptocurrencies, Fidelity serves as a broad-reaching broker offering products like mutual funds, equities, and more. They prioritize their own financial products but also offer access to international stocks, ETFs, and options across 25 global stock markets.

The Platforms:
What makes Public.com stand out is its strong community vibe. The app is easy to navigate: you can view the portfolios of contacts, search for stocks and ETFs, and join investor conversations at the click of a button.

On the other hand, Fidelity offers a customizable trading platform known as Active Trader Pro. After creating and funding your account, you can set up the workspace according to your preferences. Plus, there’s a mobile app offering a slightly limited choice of research and charting tools.

Mobile Trading:
Public.com provides a great platform for smooth, on-the-go trading. Fidelity’s app, too, is feature-rich, with flexible charting options and mobile check deposit for the convenience of smartphone users.

Pricing and Fees:
Public.com offers commission-free stock or ETF trades with no hidden charges and account minimums, although certain fees do apply in specific situations. Fidelity also provides commission-free trading and has no minimum deposit accounts, however, specific fees apply to other features.

Data and Research:
Public.com is perfect for those new to trading, thanks to its lean research and data options. Fidelity, however, offers comprehensive research resources for in-depth analysis of stocks and funds.

Taking everything into account, both of these platforms offer a free-to-join, cost-free active account. For those requiring access to complex tools, Fidelity might be the winner. But, if you’re a beginner or casual investor, Public.com is where you’ll feel right at home. Still not sure? Why not open an account with each and see which suits you best?