Our Verdict
Public.com wins when it comes to social investing experience with a wider selection of assets. It lets you follow friends and influencers while you trade stocks, ETFs, and even crypto. If you prioritize automated investing, fractional shares, and access to IPOs, SoFi Active Investing floors Public.com.
One key similarity between the two platforms is that you access commission-free trades. But which platform is best for you? It boils down to your choice. If you want a go-it-all investing strategy, opt for SoFi Active Investing. However, embrace Public.com for your social investing.
Why Choose SoFi Active Investing
Who SoFi Active Investing Is Best For
Choose SoFi Active Investing if you’re someone who:
- Wants a comprehensive financial platform.
- Values access to retirement accounts and other financial services.
- Requires automated investing options.
- Prioritizes a seamless integration with other SoFi financial products.
- Prefers a straightforward, no-frills investing experience.
- Appreciates commission-free trading.
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Who SoFi Active Investing Isn't Best For
Feel free to opt for a better alternative if you’re an individual who:
- Needs an active, community-driven investing platform.
- Has a strong interest in following other investors’ trades.
- Prefers detailed research tools and in-depth analysis.
- Requires advanced charting or trading features.
Why Choose Public.com
Who Public Is Best For
Choosing Public is a great investment decision to make if you’re someone who:
- Wants a social and community-driven investing experience.
- Prioritizes transparency in stock ownership and trades.
- Likes investing in fractional shares
- Loves following other investors and joining discussions.
- Enjoys a straightforward, mobile-first platform.
Who Public Isn't Best For
You’re not likely going to settle for the right investment option if you’re someone who:
- Seeks access to retirement accounts (IRAs).
- Prefers automated investing or robo-advisors.
- Wants extensive financial tools and services beyond investing.
- Requires more advanced trading options, like options or margin trading.
SoFi Active Investing vs Public.com: Main Differences
| SoFi Active Investing | Public.com |
Ideal For | ● Self-directed investing: If you prefer to have full control over your investment decisions, SoFi Active Investing is a great choice. You can select your stocks, ETFs, and other assets without relying on a financial advisor. This platform allows you to make the right decisions based on your own research and market insights. ● Commission-free trading: Want to minimize costs while actively trading? SoFi Active Investing offers commission-free trading on stocks and ETFs. Consider this as a significant advantage if you trade frequently and want to keep more of your returns by avoiding traditional trading fees. ● Educational resources: If you’re still learning the ropes of investing, SoFi provides various educational tools and resources. Whether you’re a beginner or looking to expand your knowledge, these resources offer you a soft landing into the world of investing. ● Community and support: SoFi offers access to member events, financial planning sessions, and a vibrant community where you can share ideas and strategies. Feel free to connect with others and keep learning. ● Fractional shares: The platform allows you to diversify your portfolio with expensive stocks by buying fractional shares. This means you can invest in high-value stocks like Amazon or Google with as little as $5. The key here is accessibility, irrespective of your budget. ● Diverse investment options: SoFi Active Investing gives you access to a wide range of investment options beyond just stocks and ETFs. You can also explore cryptocurrency investments and participate in IPOs. It’s as far as your capacity can bear with SoFi Active Investing. | ● Community insights: The platform’s community aspect is more than just social; it’s informative. You can see what experienced investors are doing, join group chats, and even participate in community town halls, which can give you valuable insights and ideas for your own investing strategy. ● Diverse asset options: Besides stocks and ETFs, Public.com also offers access to alternative assets like cryptocurrencies, art, and collectibles. If you’re interested in diversifying your portfolio beyond traditional investments, Public.com provides these options in one convenient platform. ● Long-term focus: Public encourages long-term investing rather than day trading. It’s a good place to build wealth over time and avoid the risks associated with frequent trading. It simply aligns well with your financial goals. ● Social investing: The platform allows you to follow and learn from other investors. It’s a perfect place if you want to see what others are buying, get insights, and discuss strategies in a social environment. This is especially helpful if you’re new to investing or enjoy being part of a community. ● Fractional shares: Invest in big companies without breaking your bank. Start investing with as little as $5 and own a piece of stocks that are less than $1. ● Educational resources: Public.com provides a range of educational content. Access articles, podcasts, and other resources directly through the app to help build your knowledge. |
Standout Features | ● Automated investing ● Fractional shares ● IPO access ● Commission-free trades ● Portfolio management tools ● Research and analysis ● Customer support | ● No hidden fees ● Commission-free trades ● Social investing experience: follow friends and influencers ● Trade stocks, ETFs, and cryptocurrency |
Pricing | ● Commission-free trading: No fees for buying or selling stocks, ETFs, or options. ● Fractional share investing: Buy as little as $5 of a stock. ● IPO access: Participate in initial public offerings. ● Alternative investments: Explore options like private equity and venture capital. ● Account fees: Likely apply for certain account types or services (e.g., paper statements, wire transfers). ● Exchange fees: This is what its charges when you trade securities | Public adopts a commission-free strategy for stock and ETF trades, but there are minimal fees associated with execution and some features like Investment Plans and crypto. Public Premium eliminates these fees for Investment Plans.
The Premium costs $8 per month which the company billed yearly at $96. Or you can opt for the pay as you go $10 per month which counts from the time you sign up. Public bills this every 30-day.
But one cool thing is that you can try the Premium plan for one week and you can cancel it anytime. Feel free to find out more about Public pricing on its website. |
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SoFi Active Investing vs Public.com: Standout Features
SoFi Active Investing
SoFi Active Investing offers several standout features that make it an attractive option if you’re looking to take control of your financial future. It sets itself apart for its:
- Zero commissions on trades: You can trade stocks and ETFs without worrying about paying commissions. Keep more of your investment returns so that your money works harder for you.
- Fractional shares: Even if a stock is out of your budget, you can still invest in it with SoFi’s fractional shares. This feature lets you buy portions of expensive stocks with as little as $5. SoFi makes it easy for you to diversify your portfolio.
- Automated investing: If you’re interested in a hands-off approach, SoFi also offers automated investing options. Confidently set your investment goals, risk preferences, and let SoFi’s technology manage your portfolio.
- Educational resources: SoFi goes beyond just offering a trading platform; it provides a wealth of educational resources. Whether you’re looking to learn the basics or delve into more advanced topics, SoFi’s articles, webinars, and tutorials teach you the right strategies you need for your investments.
- User-friendly mobile app: SoFi’s app is designed with simplicity in mind. Whether you’re a seasoned investor or just starting out, the app makes it easy to track your investments, execute trades, and stay informed about the market.
- Access to IPOs: With SoFi, you can invest in companies before they go public. You have the opportunity to get in on the ground floor of new and potentially high-growth companies.
Public.com Standout Features
Public is gaining more reputation and few of the reasons include promoting:
- Fractional shares and low minimums: Want to invest in a hotshot company like Tesla but the share price is just a tad out of your budget? Public lets you buy fractional shares, meaning you can own a tiny slice of that expensive stock. Plus, there’s no minimum investment, so you can start small and build your portfolio gradually.
- Alternative investments (Alts): Public goes beyond the usual stocks and ETFs. They offer access to alternative investments like royalties from music rights or even fine art! This lets you diversify your portfolio with unique assets that are not likely available elsewhere.
- Social investing: The platform has a built-in social aspect. You can see what other users are buying and selling, follow their portfolios, and even leave comments to discuss investment strategies. It’s like having your own virtual investment club!
- Public premium: If you’re a more serious investor, Public offers a premium subscription with some cool perks. You get access to advanced data and analytics, live earnings calls, analyst insights, and priority customer support. Plus, you can snag fee-free extended-hours trading to capitalize on those early morning or late-night market movements. (There’s even a free trial if you want to test it out before committing.)
- Beginners friendly platform: Public’s app is famous for being user-friendly and visually appealing. It’s a great option if you’re new to investing and want a platform that’s easy to navigate. It also offers educational resources to help you begin your investment journey.
- No payment for order flow (PFOF): This probably sounds technical, but it’s a good thing! PFOF is when a market maker pays a broker to route your orders a certain way. Public doesn’t do this, so you can rest assured it executes your trades with your best interests in mind.
Pros and Cons of SoFi Active Investing
- Pros
- Offers commission-free trading
- Allows fractional share investing
- Provides IPO access
- Features no account minimums
- Includes real-time market data
- Offers educational resources
- Provides automated portfolio rebalancing
- Cons
- Lacks advanced trading tools
- Needs more diverse investment options
- Suffers from limited research tools
- Lacks options trading capability
- Requires external banking for certain features
Pros and Cons of Public.com
- Pros
- Offers commission-free trading.
- Features fractional shares.
- Provides social networking for investors.
- Includes access to various assets like stocks, ETFs, and cryptocurrencies.
- Offers real-time chat and community insights.
- Cons
- Lacks advanced trading tools.
- Requires no access to certain financial products like mutual funds.
- Suffers from limited customer support options.
- Offers no tax-loss harvesting or automated rebalancing.
SoFi Active Investing vs Public.com: Customer Reviews
SoFi receives an excellent rating of 4.5 out of 5-star based on 8,688 customer reviews on TrustPilot. The reviews encompass all the financial products the company offers, including the Active Investing product. SoFi actually simplifies your investment and offers you a memorable customer experience. Public seems to have no footprints on TrustPilot yet.
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SoFi Active Investing and Public.com Competitors
Robinhood
If you’re looking to dip your toes into the world of investing without breaking the bank, Robinhood is a popular choice. This online brokerage platform offers commission-free trading of stocks, ETFs, options, and even cryptocurrencies. It’s easy for you to navigate even if you’re a beginner. While the initial trading is free, it’s important to understand how Robinhood makes its money. The platform primarily generates revenue through payment for order flow, which means it receives a small fee from market makers for routing your trades. Additionally, Robinhood charges fees for options trading and margin interest. So, while the upfront costs are low, be aware of these potential expenses. Robinhood’s user-friendly interface and mobile app make it a great option to explore if you want to invest on the go.
Charles Schwab
Charles Schwab is a well-respected brokerage firm with a long history of providing investment services. It offers a comprehensive range of investment options, including stocks, ETFs, mutual funds, bonds, and options. This versatility makes it a popular choice you can count on, whether you’re a beginner or experienced investor. While Schwab does charge fees for some account types and options trading, it also provides a wealth of resources to help you in your investment journey. Its research tools, educational materials, and dedicated customer service make Charles Schwab a reliable partner for investors of all levels.
If you’re looking for a brokerage firm that offers a balance of affordability, investment options, and support, Charles Schwab is a solid choice. However, if you’re primarily interested in commission-free trading and a simple, user-friendly platform, explore other options.
Tastytrade (formally Tastyworks)
If you’re a seasoned options trader looking for a platform that caters to your specific needs, Tastytrade can be the perfect fit. One of the standout features of Tastytrade is its intuitive interface, which makes it easy to navigate even complex options strategies. The platform offers a wide range of tools, including option chains, probability calculators, and order types, to help you make informed trading decisions. In addition to its trading tools, Tastytrade also provides a wealth of educational resources, including live streams, webinars, and courses, to help you improve your options trading skills. Tastytrade is not your best choice if you’re new to investing or primarily focus on stock and ETF trading. It seems to work best for options traders seeking advanced features and a supportive community.
Pro Tips
- Understand your investment style: If you’re someone who enjoys hands-on investing and managing your own portfolio, SoFi Active Investing offers a wide range of stocks, ETFs, and even cryptocurrencies. Public.com is also great for stock trading but stands out with its social investing features, which allow you to see what others are investing in. If you prefer to learn from a community, Public.com can be your pick.
- Assess the user experience: The ease of use can make a big difference in how you interact with your investments. SoFi’s platform is straightforward and integrates well with its other financial services, making it a good fit if you’re looking for a one-stop shop for your financial needs. Public.com, however, shines with its user-friendly app and a more engaging interface, particularly if you enjoy a more interactive and social experience
- Evaluate available investment options: Both platforms offer access to a range of investment types, but with some differences. SoFi Active Investing includes access to IPO investing and fractional shares, which can be appealing if you want to invest in big companies without buying a full share. Public also offers fractional shares but has a broader range of themed investment bundles, which can be ideal if you’re looking to diversify easily.
- Look at the social features: Public is a social platform at its core. You can follow other investors, see their portfolios, and even ask questions. This is a huge plus if you’re a beginner or enjoy learning through community interaction. SoFi, on the other hand, doesn’t emphasize social features but offers robust educational resources and you benefit perks like career coaching and financial planning
- Consider fees and costs: Both platforms are popular for low-cost investing, but dig into the fine print. SoFi has no commission fees for trading stocks and ETFs, and it offers additional financial products like loans and banking services. Public.com also offers commission-free trading but has an optional tipping feature, where you can tip the platform instead of paying a fee. Decide which cost structure aligns with your comfort level.
Recap
SoFi is ideal if you want a straightforward, hands-on investing experience with additional financial services and no commissions on trades. On the other hand, Public.com offers a unique social investing experience, allowing you to follow and learn from other investors. Both platforms offer fractional shares and a range of investment options, but your decision has to hinge on whether you prefer the comprehensive tools and services of SoFi or the interactive, community-driven approach of Public.com.
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