US-based multi-asset investing platform Public has gone live in the UK, its first market outside the US
US-based multi-asset investing platform Public has gone live in the UK, its first market outside the US. In one place, UK users of the Public app can create a portfolio comprising more than 5,000 equities listed in the US.
They also have the ability to utilise various features that offer extra data and context, including personalised company metrics, Morningstar research, recordings of earnings calls, and valuable insights from a vast community of investors. Members can access the app on a rolling basis on both iOS and Android devices. Key product features available at launch include: Over 5,000 stocks: Public has over 5,000 US-listed equities on its platform, providing UK investors with a broad range of options to build their portfolios, from large-cap tech to dividend stocks, to emerging markets stocks.
The platform aims to offer the widest range of US-listed equities available to UK investors; Commission-free trading and low FX fees: Public members can trade stocks commission-free during market hours. Unlike other brokerages, Public converts members’ currency from GBP to USD when they deposit funds rather than on every individual trade, which can result in fewer FX transactions and significantly lower fees; Advanced data and insights: Investors can access data and context that can help them make more informed investment decisions. UK members can access custom company metrics, Morningstar research, earnings reports, and breaking news, all in the same place they invest.
Investors can tune into daily live shows about the markets and a community of analysts, company executives, and creators to discuss the markets. Many of these features are available to all Public members, while some are part of Public Premium, the company’s paid subscription tier. Fundings and future plans Having accumulated more than USD 300 million in venture capital funding, Public operates with team members situated in New York, Copenhagen, London, and Amsterdam.
The company differentiates itself by not relying on Payment for Order Flow (PFOF) as a revenue source, rather, all orders are directly routed to exchanges and other execution venues. As of this annoucement, the US version of the product extends its offerings to include additional asset classes such as ETFs, Treasuries, cryptocurrencies, and alternatives. These asset classes may also become available in future releases for the UK market.
Furthermore, Public intends to introduce Investment Plans in the UK, enabling members to create personalised recurring investments. .
Jul 14, 2023 08:32
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