Public.com Account Type

Public.com offers various types of brokerage accounts to cater to different investment needs. The primary account types include:

• Standard Brokerage Account: This is the most common type, allowing you to invest in stocks, ETFs, mutual funds, and bonds using cash from your bank account. It provides flexibility and control over your investments, making it ideal for beginners.

• Margin Brokerage Account: This account allows you to borrow money from Public.com to purchase investments, potentially amplifying your gains but also increasing your risk. It requires a higher account minimum and incurs interest on borrowed funds.

• Retirement Accounts: Public.com also provides options for retirement accounts, such as Traditional IRAs and Roth IRAs, which offer tax advantages for long-term saving.

• Custodial Accounts: Designed for minors, these accounts are managed by an adult custodian until the child reaches maturity.

• Education Accounts: Public.com enables users to set up 529 plans to save for educational expenses, offering tax advantages for qualified withdrawals.

Public.com Broker Account Opening Process

Opening a brokerage account with Public.com is a straightforward process. Here are the steps:

• Choose Your Account Type: Decide on the type of account that best suits your investment goals, whether it's a standard, margin, retirement, custodial, or education account.

• Fill Out the Application: Visit the Public.com website or mobile app to complete the online application. You will need to provide:

• Your full name
• Physical and mailing addresses
• Social Security Number
• Employment status and income information
• Government-issued ID

• Fund Your Account: After your application is approved, you will need to make an initial deposit. Public.com allows funding through bank transfers, checks, or wire transfers. The required initial deposit may vary depending on the account type.

• Set Up Preferences: Choose how you want to receive trade confirmations and account statements, either by mail or email.

• Start Investing: Once your account is funded, you can begin buying and selling various securities using the tools and resources provided by Public.com.

By following these steps, you can easily set up your brokerage account and start your investment journey with Public.com.