The rise of mobile investing apps has revolutionized the way people invest in the stock market. One such app that has gained popularity in recent years is Public, a commission-free investing platform that allows users to buy and sell stocks, ETFs, and cryptocurrencies. However, with the increasing number of investing apps, concerns about safety and security have become a top priority for investors. In this article, we will delve into the safety features of the Public investing app and explore whether it is a reliable platform for investors.
Overview of Public Investing App
Public is a mobile investing app that was launched in 2019 by a team of experienced entrepreneurs and investors. The app is designed to make investing accessible to everyone, regardless of their financial background or experience. Public offers a range of features, including commission-free trading, real-time market data, and a user-friendly interface. The app also allows users to invest in a variety of assets, including stocks, ETFs, and cryptocurrencies.
Regulatory Compliance
One of the key factors that determine the safety of an investing app is its regulatory compliance. Public is registered with the Securities and Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA). This means that the app is subject to strict regulations and guidelines that ensure the protection of investors’ funds.
In addition to its regulatory compliance, Public is also a member of the Securities Investor Protection Corporation (SIPC). The SIPC provides insurance coverage to investors in the event of a brokerage firm’s bankruptcy or insolvency. This means that investors’ funds are protected up to $500,000, including a $250,000 limit for cash claims.
Security Measures
Public takes the security of its users’ accounts very seriously. The app uses a range of security measures to protect users’ personal and financial information. These measures include:
- Two-factor authentication: Public requires users to enable two-factor authentication to access their accounts. This adds an extra layer of security to prevent unauthorized access.
- Encryption: Public uses encryption to protect users’ personal and financial information. This ensures that even if the app’s systems are breached, users’ information will remain secure.
- Secure servers: Public’s servers are located in secure data centers that are protected by robust security measures. This ensures that users’ information is safe from physical and cyber threats.
Account Protection
Public offers a range of account protection features to ensure that users’ funds are safe. These features include:
- Account monitoring: Public’s system continuously monitors users’ accounts for suspicious activity. If any suspicious activity is detected, the app will notify the user and take action to prevent further unauthorized access.
- Account freezing: Public allows users to freeze their accounts in the event of suspicious activity. This prevents any further transactions from taking place until the issue is resolved.
- Insurance coverage: As mentioned earlier, Public is a member of the SIPC, which provides insurance coverage to investors in the event of a brokerage firm’s bankruptcy or insolvency.
Investor Education
Public also offers a range of educational resources to help investors make informed decisions. These resources include:
- Market news and analysis: Public provides users with real-time market news and analysis to help them stay up-to-date with market trends.
- Investor guides: Public offers a range of investor guides that provide tips and advice on investing in the stock market.
- <strong/Webinars and workshops: Public hosts webinars and workshops to educate investors on various investing topics.
Customer Support
Public offers a range of customer support options to help users with any issues they may encounter. These options include:
- Email support: Public’s customer support team is available to answer users’ questions and concerns via email.
- <strong/Phone support: Public also offers phone support to users who need immediate assistance.
- <strong/In-app support: Public’s app also includes an in-app support feature that allows users to contact the customer support team directly from the app.
Reviews and Ratings
Public has received positive reviews from users and critics alike. The app has a rating of 4.8 out of 5 stars on the App Store and 4.9 out of 5 stars on Google Play. Users have praised the app’s user-friendly interface, commission-free trading, and excellent customer support.
| Rating Platform | Rating |
|---|---|
| App Store | 4.8/5 |
| Google Play | 4.9/5 |
Conclusion
In conclusion, the Public investing app is a safe and reliable platform for investors. The app’s regulatory compliance, security measures, and account protection features ensure that users’ funds are protected. Additionally, Public’s investor education resources and customer support options make it an excellent choice for both beginner and experienced investors. While no investing app is completely risk-free, Public’s safety features and positive reviews make it a great option for anyone looking to invest in the stock market.
Final Verdict
Based on our review, we highly recommend the Public investing app to anyone looking for a safe and reliable investing platform. With its commission-free trading, user-friendly interface, and excellent customer support, Public is an excellent choice for investors of all levels.
Disclaimer
Please note that investing in the stock market always carries some level of risk. While Public’s safety features and regulatory compliance can help minimize this risk, it is essential to do your own research and make informed decisions before investing.
Is the Public Investing App Regulated?
The Public Investing App is regulated by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). This means that the app is subject to strict guidelines and regulations that ensure the safety and security of its users’ investments. The SEC and FINRA regulate the app’s activities, including its trading practices, customer accounts, and financial reporting.
As a regulated app, Public Investing is required to maintain high standards of transparency, fairness, and accountability. The app must also comply with anti-money laundering (AML) and know-your-customer (KYC) regulations, which help to prevent financial crimes and protect users’ identities. By being regulated, Public Investing demonstrates its commitment to providing a safe and trustworthy investment platform for its users.
What Kind of Insurance Does Public Investing Offer?
Public Investing offers insurance coverage through the Securities Investor Protection Corporation (SIPC). The SIPC provides limited coverage of up to $500,000, including a $250,000 limit for cash claims. This means that if the app were to fail or experience financial difficulties, users’ investments would be protected up to the SIPC coverage limits.
It’s essential to note that SIPC insurance does not protect against investment losses or market fluctuations. Instead, it provides coverage in the event of the app’s insolvency or bankruptcy. Additionally, Public Investing also maintains excess SIPC coverage, which provides additional protection for users’ investments. This excess coverage is provided by Lloyd’s of London and other reputable insurance underwriters.
How Does Public Investing Protect User Data?
Public Investing takes the protection of user data seriously and employs robust security measures to safeguard sensitive information. The app uses 128-bit SSL encryption to secure data transmission and storage. This encryption technology ensures that user data, including personal and financial information, is protected from unauthorized access.
In addition to encryption, Public Investing also implements strict access controls and authentication protocols to prevent unauthorized access to user accounts. The app requires users to create strong passwords and enables two-factor authentication (2FA) to add an extra layer of security. Public Investing also regularly updates its security protocols and conducts penetration testing to identify and address potential vulnerabilities.
Can I Trust Public Investing with My Money?
Public Investing has established itself as a reputable and trustworthy investment platform. The app has a strong track record of providing a secure and reliable service, with a user-friendly interface and competitive features. Public Investing is also transparent about its fees, investment options, and risk management practices, which helps to build trust with its users.
However, as with any investment platform, there are risks involved. It’s essential to understand that investing in the stock market or other assets carries inherent risks, and there are no guarantees of returns. Nevertheless, Public Investing provides a range of tools and resources to help users manage their investments and make informed decisions.
How Does Public Investing Handle Customer Support?
Public Investing offers customer support through various channels, including email, phone, and in-app messaging. The app’s support team is available to assist users with account-related issues, investment questions, and technical problems. Public Investing also provides a comprehensive FAQ section and educational resources to help users navigate the app and make informed investment decisions.
In addition to its support channels, Public Investing also has a strong community of users who share knowledge, insights, and experiences. The app’s social features allow users to connect with others, share ideas, and learn from each other’s experiences. This community-driven approach helps to foster a sense of trust and camaraderie among users.
What Are the Fees Associated with Public Investing?
Public Investing offers a range of investment options with competitive fees. The app does not charge management fees, and users can invest in stocks, ETFs, and other assets without paying commissions. However, Public Investing does charge a small fee for certain services, such as wire transfers and account maintenance.
It’s essential to note that Public Investing’s fees are transparent and clearly disclosed on the app’s website and within the app itself. Users can easily access information about fees and charges, which helps to build trust and ensure that users are aware of any costs associated with their investments.
Is Public Investing Suitable for Beginners?
Public Investing is an excellent choice for beginners who want to start investing in the stock market or other assets. The app provides a user-friendly interface, educational resources, and a range of investment options that cater to different risk profiles and investment goals. Public Investing also offers a “fractional share” feature, which allows users to invest small amounts of money in high-priced stocks or ETFs.
In addition to its features and resources, Public Investing also provides a supportive community and customer support team that can help beginners navigate the app and make informed investment decisions. The app’s social features and discussion forums also provide a platform for beginners to connect with more experienced investors and learn from their experiences.