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Public.com App IRA (ROTH/Traditional) Accounts (2024)
Public app IRA Roth IRA, SEP/Simple IRA, traditional, and 401K rollover IRA. Public.com retirement account rating, cost, fees, and offers.
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Public App IRA
Unfortunately, Public.com does not offer IRA accounts at this time. This means there are no Traditional IRA, ROTH IRA, SEP, or SIMPLE retirement accounts available on the Public app. For a $0 commission IRA provider, consider
Charles Schwab Brokerage.
Visit Charles Schwab Website
Open Schwab Account
Public.com $0 Stock Trades
Public.com is known for offering commission-free stock and ETF trades. All transactions are $0. Trading is done through the broker's mobile app, as they have a minimal web presence. The app’s charting features are basic, without any drawing tools or technical studies.
Customer service is only available during market hours, and the phone number provided is not toll-free. Public.com also has slow response times to emails. Additionally, bonds and mutual funds cannot be traded on this platform.
Despite these drawbacks, Public.com is working to improve its offerings. It recently introduced a unique margin account called Public.com Gold, which costs $10 per month.
Overview of Commissions at Online Brokers
Most online discount brokers generate the majority of their income from commissions, which are fees you pay when buying or selling a stock or ETF. Traditional full-service brokerage firms may also charge commissions. As we’ll see, commission rates can vary significantly from one broker to another.
When and Why Commissions are Charged
Brokers need to make money, and they do this primarily by charging fees for buying and selling securities. These can include stocks, options, bonds, variable annuities, REITs, ADRs, and ETFs.
Charges for mutual fund transactions are often called transaction fees, though they function similarly to commissions. It’s important to note that mutual fund loads are different—they are fees charged by the fund itself, not the broker, and are therefore not considered commissions.
When exchanging one mutual fund for another, fees may or may not apply, depending on the broker’s policies. An exchange typically involves replacing one fund with another within the same fund family. For instance, Fidelity doesn’t charge for this service, but E*Trade clients pay $19.99 per exchange.
Updated on 7/19/2024.
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