Public.com Account Types

Public.com offers several types of brokerage accounts to cater to different investment needs. Here are the primary account types available:

• Standard Brokerage Account
• Most common type of account.
• Allows access to a variety of investments such as stocks, bonds, ETFs, and mutual funds.
• Offers flexibility with the ability to trade, deposit, and withdraw at any time.
• Taxable account where gains are subject to capital gains tax.
• Margin Brokerage Account
• Allows investors to borrow money from the brokerage to purchase investments.
• Potential for higher returns but comes with increased risk.
• Interest must be paid on borrowed funds.
• Managed (Discretionary) Brokerage Account
• Managed by professional investment advisors who make trades on behalf of the investor.
• Suitable for individuals who prefer not to manage their investments actively.
• Generally incurs management fees.
• Retirement Brokerage Account
• Accounts like 401(k) and IRAs that offer tax advantages for retirement savings.
• Contributions may be tax-deferred or tax-free, but withdrawals are often limited until retirement age.
• Education Brokerage Account
• Designed for funding educational expenses, such as a 529 savings plan.
• Offers tax advantages for qualified educational expenses.
• Custodial Brokerage Accounts
• Set up for minors, managed by an adult custodian until the child reaches adulthood.
• Allows for investment growth while the child is still under legal age.

Public.com Broker Account Opening Process

Opening a brokerage account with Public.com is straightforward and can be completed in just a few steps:

• Choose Account Type
• Decide which type of account suits your investment goals (Standard, Margin, Managed, etc.).
• Provide Required Information
• You will need to provide:
• Social Security Number
• Government-issued ID (e.g., drivers license or passport)
• Employment status and supporting documentation
• Financial information and investment objectives
• Information for your checking account
• Submit Application
• Complete and submit the application online through the Public.com platform.
• Initial Deposit
• After approval, fund your account with the required initial deposit (amount varies by account type).
• Start Investing
• Once your account is funded, you can begin buying and selling investments through the Public.com platform.