Unveiling the Battle of Investment Platforms: A Closer Look at Public.com Versus M1 Finance.

If online trading is on your horizon, two solid platforms have caught investors’ attention: Public.com and M1 Finance. But the real question is, which one will serve you best? Here’s a casual comparison.

Commission-free trades for stocks and exchange-traded funds (ETFs) are available on both Public.com and M1 Finance. Both even let you buy small parts of shares. The key difference, though, is that Public.com is purely a trading app, while M1 Finance also offers banking and loan options.

Public.com doesn’t charge fees for account maintenance. On the other hand, M1 Finance’s basic account is free, but their M1 Plus account, which includes additional banking and lending functions, costs $125 per year.

Public.com also has a social network where you can connect, chat, and share advice with friends or other investors. Such features aren’t available on M1 Finance. Yet, M1 Finance offers automated investing features, which makes it more convenient for some users.

Notably, trades on M1 Finance are executed once (or twice for M1 Plus users) a day, which might not serve active traders well. Lastly, M1 Finance offers retirement accounts, but Public.com doesn’t.

Public.com started under the name Matador back in 2018. It stands out for the engaging social features it offers, apart from being commission-free and user-friendly.

Meanwhile, M1 Finance brands itself as a “Finance Super App”, aiming to help the average person with borrowing, spending, and investing.

Public.com gives you access to around 4,000 stocks and ETFs and also lets you trade cryptocurrencies. M1 Finance, on the other hand, doesn’t offer crypto but has over 80 pre-built portfolios, or “pies”, for you to choose from or modify. You can even create your own custom pie. We see this as an even match.

At present, Public.com only offers individual brokerage accounts, while M1 Finance offers a wider range of accounts, including retirement ones.

Public.com wins when it comes to fees, charging no commissions on trades and no costs for account opening or maintenance. M1 Finance also doesn’t have portfolio management or trading fees, unless you opt for the M1 Plus membership.

With its collaborative features, Public.com stands out as a unique trading platform. In contrast, M1 Finance steers clear of social engagement.

Both platforms provide excellent user experience, yet Public.com might be slightly simpler and more straightforward as it only offers investing.

Although M1 Finance offers more data and research than Public.com, Public.com’s investment themes promote convenient participation in major trends.

Finally, differentiating features of M1 Finance include automated rebalancing, borrowing against your portfolio, a checking account for daily finances, a reward credit card and the smart transfer feature available to Plus customers.

In a nutshell, Public.com is the go-to platform for more socially-engaged and active traders, while M1 Finance caters to long-term, passive investors looking for automation and pre-built portfolios. Factors you need to consider while deciding include account minimums, support for retirement accounts, and support for cryptocurrencies. If you can’t decide, give both a shot. They both offer free trades, after all!