Public.com has attracted a lot of attention with its commission-free trading, a wide range of assets and a social feed where investors share ideas. It lets you invest in stocks and ETFs with no minimum amount, and it also offers options, bonds, Treasuries, crypto and a high-yield cash account.
In this article, we explain where Public is available, what we know about its expansion plans, and which alternatives investors in other countries can use.
In which countries is Public.com available? 🌎
Public is only available in the US. If you live in Europe, Canada, Australia or any other country outside the US, you can’t open an account.
Public announced a global rollout in 2022 and launched in the UK in 2023, but it closed its UK business on 3 May 2024, less than a year later. It said it wanted to focus on growing its US business, while keeping the long-term goal of expanding to the UK, Europe and beyond. There is still no launch date or list of countries.
Alternatives to the Public app
So, can you find an app similar to Public outside the US? Yes.
Based on criteria such as regulation, customer feedback, ease of use, availability in many countries and costs, these are our picks:
eToro
The world’s leading social investing platform, with more than 40 million registered users. Like Public, it combines investing with a social feed, and it offers commission-free ETF trading (other fees apply). Read our eToro review.
Disclaimer: eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Interactive Brokers
Founded in 1978, IBKR is one of the largest and most established online brokers, available in most countries. It offers a huge range of products (stocks, ETFs, options, bonds and more) and low currency conversion fees. Read our Interactive Brokers review.
💡 Interactive Brokers also offers IBKR GlobalTrader, a simpler mobile app to trade stocks, options and ETFs, ideal for beginners.
XTB
A broker known for its easy-to-use platform, with 0% commission on real stocks and ETFs up to €100,000 of monthly turnover (0.2% above that, min. €10) and CFDs on many markets.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
DEGIRO
A low-cost European broker, where ETFs in its Core Selection cost a €1 handling fee per trade. Read our DEGIRO review.
Disclaimer: Investing involves risk of loss.
Webull
A US broker also available in several other countries, including the UK, Canada, Australia and parts of Asia. It offers commission-free trading on US stocks and ETFs in many of its markets, plus options and detailed analysis tools.
Wealthsimple
A Canadian fintech with managed portfolios and a self-directed investing app to trade stocks, ETFs and crypto, with commission-free trading on Canadian and US stocks. Only available in Canada.
How are you protected with these companies?
All the companies in this guide are regulated in the countries where they operate. The level of investor protection depends on the entity and the country:
- US: SIPC protects up to $500,000 per customer, including up to $250,000 in cash, if a member broker fails.
- EU: national investor compensation schemes usually cover at least €20,000.
- UK: the FSCS covers up to £85,000.
These schemes cover the failure of a broker, not investment losses.
Ready to invest?
There’s no need to limit yourself to the alternatives in this guide. We stand by our picks, but your final decision should be based on your own research.
Look at the options that interest you and decide for yourself. If none of them fit, check our comparison of online brokers by country.
This information is not investment advice. Do your own research to decide which services best suit your goals and risk profile.
We hope this overview of Public and its alternatives helps. Happy investing!
FAQs about Public.com
What is Public, and why did it become so popular?
Public is a US investing app that lets you invest in stocks, ETFs, options, bonds, Treasuries and crypto, and it also offers a high-yield cash account. It became popular for its commission-free trades and its social feed, where members can follow other investors and share ideas.
It also offers features such as automatic dividend reinvestment and a rebate program on equity options, which pays back part of the trade. Securities in a Public brokerage account are protected by SIPC up to $500,000 (including $250,000 in cash) if the broker fails.
How does Public make money?
There’s no such thing as a free lunch. Public doesn’t charge commissions on stock and ETF trades, and it says it doesn’t sell stock and ETF orders to market makers (payment for order flow). Instead, it earns money in several ways:
- Interest on cash: Public earns interest on client cash balances, part of which it pays out through its high-yield cash account.
- Securities lending: brokers can lend clients’ securities to third parties, for example to short sellers, in exchange for a fee.
- Instant withdrawals: standard bank transfers are free, but instant withdrawals cost a fee of up to 2%.
- Other fees: for example, a $75 fee for outgoing account transfers, fees on crypto trades, and fees on some other products.
Does Public work in the UK? 🇬🇧
No. Public.com stopped offering its products and services in the UK on 3 May 2024, less than a year after launching there.
Does Public.com work in Canada? 🇨🇦
No, Public.com is not available in Canada. Canadian investors can look at alternatives such as Wealthsimple, Interactive Brokers or Webull.
Does Public work in Europe? 🇪🇺
No, Public.com is not available in Europe. European investors can look at alternatives such as eToro, Interactive Brokers, XTB or DEGIRO.
Is Public available in Australia? 🇦🇺
No, Public.com is not available in Australia. Australian investors can look at alternatives such as Interactive Brokers, eToro or Webull.
