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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. There are no Traditional IRA, ROTH IRA,
SEP, or SIMPLE retirement accounts provided on the Public app. For a $0 commission IRA provider, see
Charles Schwab Brokerage.
Visit Charles Schwab Website
Open Schwab Account
Visit Public Website
Open Public Account
Public.com $0 Stock Trades
One of the better known brokers to offer free commissions is Public.com. Stock and ETF transactions are always $0. Trading takes place on the broker's mobile app because it doesn't have much of a website. Charting on the app is fairly basic, with no drawing tools or technical studies.
Customer service is available only during market hours, and the company's phone number isn't toll-free. Public.com does not respond to e-mails in a timely fashion. Even worse, bonds and mutual funds cannot be traded with the broker.
Despite the disadvantages, the broker is trying to improve. It recently launched a unique margin account called Public.com Gold. It costs a flat $10 per month.
Overview of Commissions at Online Brokers
Most on-line discount stock brokers make the bulk of their income from commissions. These are the fees you pay when you buy or sell a stock or ETF. Traditional full-service brokerage houses sometimes charge commissions, too. As we shall see, large differences in commission schedules can be found from broker to broker.
When and Why Commissions are Charged
Brokerage houses have to make money somehow, and they do this primarily by charging fees for the purchase and sale of securities. These products include stocks, options, bonds, variable annuities, REIT’s, ADR’s, and ETF’s.
Charges for mutual fund transactions are usually called transaction fees, although they are essentially commissions. Keep in mind, however, that mutual fund loads are completely different. Loads are charged by the fund itself, not the broker, and they therefore are not commissions.
Besides buying and selling, exchanging one mutual fund for another sometimes incurs a charge and sometimes does not. Different brokers have different policies for this type of transaction. Exchanging is simply replacing one fund for another, usually within the same fund family. Fidelity does not charge for this service, while E*Trade clients pay $19.99 per exchange.
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