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TradeStation vs Public.com 2024

StockBrokers.com

Written by StockBrokers.com

October 30, 2024

In this head to head comparison of TradeStation vs Public.com, we will compare the trading platforms, mobile apps, investment options, costs, market research, and more. Let's dive in.

TradeStation
4/5 Stars Overall
  • Minimum Deposit: $0.00
  • Stock Trades: $0.00
  • Options (Per Contract): $0.60
Public.com
3.5/5 Stars Overall
  • Minimum Deposit: $20.00
  • Stock Trades: $0.00 info
  • Options (Per Contract): $0.00 info

Investment options

TradeStation and Public.com both provide a diverse array of investment options, catering to different types of investors with distinct needs. TradeStation is highly rated with 4.5 stars, and it stands out as the fifth-ranked platform for investment options according to StockBrokers.com, thanks to its broad range of offerings, including stock trading, margin trading, OTC stocks, mutual funds, options trading, futures trading, and IRA accounts. In contrast, Public.com, rated 3 stars and ranked 15th, offers stock trading, margin trading, fractional shares trading, OTC stocks, options trading, and an extensive lineup of cryptocurrency options, making it a compelling choice for those interested in modern, dynamic trading options.

For investors keen on traditional financial instruments, TradeStation provides a comprehensive selection, including mutual funds and futures trading, absent from Public.com's repertoire. While both platforms support stock and options trading, TradeStation's margin trading and extensive support for OTC stocks further enhance its appeal to active traders. Furthermore, TradeStation offers both traditional and Roth IRA accounts, broadening its allure for investors focused on retirement planning, an area where Public.com falls short by not providing IRA account services.

Meanwhile, Public.com distinguishes itself by embracing newer financial instruments, allowing investors to engage in fractional shares trading and offering a significant range of 22 cryptocurrencies, a stark contrast to TradeStation, which does not offer crypto trading. Public.com's strength in the realm of digital assets coupled with its user-friendly platform may be more attractive to newer investors or those looking to diversify into modern financial spaces. Although both brokers offer margin trading, Public.com’s appeal in cryptocurrency trading makes it a strong contender for tech-savvy investors.

Feature TradeStation logoTradeStation
Public.com logoPublic.com
Stock Trading info Yes Yes
Margin Trading Yes Yes
Fractional Shares info No Yes
OTC Stocks info Yes Yes
Mutual Funds info Yes No
Options Trading info Yes Yes
Futures Trading info Yes No
Crypto Trading info No Yes
Crypto Trading - Total Coins info 0 22
Investment Options 4.5/5 Stars 3/5 Stars

Dive deeper: Best Options Trading Platforms for 2024, Best Futures Trading Platforms for 2024

Trading platforms and tools

When comparing the trading platforms and tools of TradeStation and Public.com, it's clear that TradeStation offers a more comprehensive and advanced experience, earning it a 4.5-star rating and a #7 rank from StockBrokers.com. In contrast, Public.com receives a 2.5-star rating and ranks #17. TradeStation excels in providing more customizable features, advanced charting tools, and robust platform options, catering to both beginner and experienced traders who need versatile and detailed analytical tools.

TradeStation provides a Windows desktop downloadable trading platform, while Public.com does not offer any desktop platform for Windows or Mac. Both brokers feature browser-based trading platforms, ensuring some level of accessibility. However, TradeStation stands out by offering paper trading, an extensive array of 294 technical indicators, and 23 drawing tools for in-depth chart analysis. Public.com lacks paper trading and any integrated technical indicators or drawing tools, limiting the depth of chart analysis capabilities.

TradeStation continues to offer superior functionality with its ability to adjust open orders on charts, add notes and index overlays, and display historical trades and corporate events. Public.com, on the other hand, doesn't support these features, which might be a drawback for users requiring advanced chart management and customization. Moreover, TradeStation allows users to set custom date ranges, automate technical analysis, save multiple chart profiles, and create custom studies, providing greater flexibility and control over trading decisions when compared to Public.com's more limited offering.

Feature TradeStation logoTradeStation
Public.com logoPublic.com
Web Trading Platform info Yes Yes
Desktop Trading Platform info Yes No
Desktop Platform (Mac) info No No
Paper Trading info Yes No
Watch Lists - Total Fields info 341 3
Charting - Indicators / Studies info 294 0
Charting - Drawing Tools info 23 0
Platforms & Tools 4.5/5 Stars 2.5/5 Stars

Dive deeper: Best Stock Brokers & Trading Platforms for 2024, Best Paper Trading Platforms for 2024

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Beginners and education

When it comes to investor education and resources for beginners, TradeStation and Public.com both offer a range of educational materials but cater to different learning needs. TradeStation provides a comprehensive platform for stock and options education, supported by educational videos and webinars that help users immerse themselves in the trading world. Although TradeStation doesn’t offer specific education for ETFs or mutual funds, it excels in real-world learning through its paper trading feature, allowing beginners to practice trading in a risk-free environment. With a 3.5-star rating for education and a #11 rank out of 18 brokers by StockBrokers.com, TradeStation positions itself as a solid choice for those particularly interested in gaining a practical understanding through simulated trading.

Public.com, on the other hand, focuses on broadening investor knowledge with stock, ETF, and options education, also supplemented by educational videos and webinars. However, unlike TradeStation, Public.com does not provide paper trading, which may limit new investors from applying what they’ve learned without financial risk. Despite this, Public.com offers a slightly more diverse educational scope with its inclusion of ETF resources, aligning with beginner investors seeking more comprehensive asset-class exposure. Rated at 3 stars for education and ranked #15 by StockBrokers.com, Public.com provides a viable option for those prioritizing a wider array of educational content over hands-on practice.

Feature TradeStation logoTradeStation
Public.com logoPublic.com
Education (Stocks) info Yes Yes
Education (ETFs) info No Yes
Education (Options) info Yes Yes
Education (Mutual Funds) info No No
Education (Bonds) info No No
Paper Trading info Yes No
Videos info Yes Yes
Webinars info Yes Yes
Education 3.5/5 Stars 3/5 Stars

Dive deeper: Best Stock Trading Platforms for Beginners of 2024

Stock trading apps

When comparing the stock trading app capabilities of TradeStation and Public.com, it’s clear that TradeStation emerges as the more robust platform with a higher rating of 4.5 stars versus Public.com's 4 stars, and a superior rank of #8 out of 18 brokers, compared to Public.com's #14. TradeStation stands out with its comprehensive features, including mobile after-hours stock trading, mobile options trading, streaming quotes, and the ability to create custom watch lists and stock alerts. However, Public.com offers a unique feature not available on TradeStation, allowing users to display stock comparisons on charts via its mobile app.

Both TradeStation and Public.com provide essential app accessibility for iPhone and Android, but neither supports an Apple Watch app. They also align on not offering streaming live TV or videos on demand, which focuses their functionality primarily on trading and analysis tools. Public.com uniquely offers the ability to display stock comparisons directly on charts, which may appeal to users who value quick visual analysis. Meanwhile, TradeStation equips users with 45 technical studies for charting, offering more in-depth analytical capabilities that cater to more serious traders needing comprehensive data-driven insights.

TradeStation excels with its in-app features, including customizable watch list columns and after-hours charting, although it lacks the ability to display charts in landscape mode similar to Public.com. Conversely, while Public.com allows for displaying stock comparisons, it lags with zero technical studies for charting, limiting the depth of analysis possible on its platform. Ultimately, the choice between TradeStation and Public.com will depend on whether users prioritize advanced analytical features or straightforward stock comparison visuals within their mobile trading app.

Feature TradeStation logoTradeStation
Public.com logoPublic.com
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info No No
Stock Alerts info Yes No info
Charting - After-Hours info Yes No
Charting - Technical Studies info 45 0
Mobile Trading Apps 4.5/5 Stars 4/5 Stars

Dive deeper: Best Stock Trading Apps for 2024

Fees

When evaluating the cost structures of TradeStation and Public.com, it becomes evident that both platforms have unique advantages depending on the type of trader. TradeStation offers a zero minimum deposit, making it accessible for all levels of investors, while Public.com requires a $20 deposit. For regular stock trades, both brokers provide free trades, however, options traders might find Public.com more alluring due to their no-charge per contract model compared to TradeStation's $0.60 per contract charge. When it comes to margin trading, Public.com offers lower rates across the board, ranging from 6.75% to 8.75%, as opposed to TradeStation's higher rates between 12.5% and 13%.

Delving deeper into additional charges, TradeStation imposes an annual IRA fee of $35 and a closure fee of $50. In contrast, Public.com does not levy fees for IRA maintenance or closure, presenting a potential advantage for retirement account holders. Both platforms charge for account transfers, although Public.com's fees are notably lower, with both partial and full transfers costing $75 compared to TradeStation's $125. Investors interested in options will notice a significant discrepancy in exercise and assignment fees, as TradeStation charges $14.95 and $5.95, respectively, while Public.com offers these services without any fees.

Overall, TradeStation might appeal to traders who prioritize direct access tools and sophisticated trading features, but should be aware of the higher ancillary charges associated with trading on the platform. Conversely, Public.com is a strong contender for cost-conscious investors, particularly those engaged in options trading or margin trading, due to its lower fees and lack of IRA-related charges. Given these differences, potential users should consider their trade frequency, investment style, and need for additional services to determine which broker aligns best with their financial goals.

Feature TradeStation logoTradeStation
Public.com logoPublic.com
Minimum Deposit $0.00 $20.00
Stock Trades $0.00 $0.00 info
Options (Per Contract) $0.60 $0.00 info
Options Exercise Fee $14.95 $0.00
Options Assignment Fee $5.95 $0.00
IRA Annual Fee $35.00
IRA Closure Fee $50.00
Commissions & Fees 4.5/5 Stars 4.5/5 Stars

Dive deeper: Best Free Trading Platforms for 2024

Day Trading

When it comes to day trading capabilities, TradeStation emerges as a robust platform compared to Public.com. TradeStation offers a comprehensive suite of features essential for active traders, including streaming time and sales for stocks, direct market routing, and ladder trading, all of which are absent on Public.com. Additionally, TradeStation supports trading hotkeys for swift keyboard trade entries and provides access to Level 2 quotes, essential tools for traders who rely on swift market movements and in-depth market depth analysis.

TradeStation further distinguishes itself by offering both basic and advanced strategy backtesting, enabling traders to refine their strategies before executing them in the live market. Public.com, unfortunately, lacks any form of strategy backtesting. For those interested in shorting stocks, TradeStation provides a short locator tool, aiding in the real-time assessment of share availability for shorting, a feature not found on Public.com. Moreover, TradeStation's provision of order liquidity (maker/taker) rebates offers further incentives for high-frequency traders, highlighting its superiority over Public.com for those seeking a feature-rich environment conducive to day trading.

Feature TradeStation logoTradeStation
Public.com logoPublic.com
Streaming Time & Sales info Yes No
Streaming TV info No No
Direct Market Routing - Stocks info Yes No
Level 2 Quotes - Stocks info Yes No
Trade Ideas - Backtesting info Yes No
Trade Ideas - Backtesting Adv info Yes No
Short Locator info Yes No

Dive deeper: Best Day Trading Platforms for 2024

Market Research

When evaluating the market research capabilities of online brokers, TradeStation edges out Public.com in several key areas. With a 3-star rating and a #10 rank out of 18 brokers by StockBrokers.com, TradeStation offers a more comprehensive suite of research tools compared to Public.com’s 2-star rating and #17 ranking. Both platforms provide research for stocks, ETFs, and pink sheets/OTCBB, but lack capabilities in mutual funds and bonds. However, TradeStation distinguishes itself with the ability to view portfolio allocation by asset class and offers a stock screener for generating trade ideas, features that are absent from Public.com.

Both TradeStation and Public.com fall short in offering downloadable PDF research reports across various asset categories, including stocks, ETFs, and mutual funds. They also do not provide research using social media sentiment data or ESG (Environmental, Social, and Governance) insights, which could be considered limitations for investors seeking these functionalities. Despite these gaps, TradeStation’s ability to offer a stock screener is advantageous for those interested in exploring trade ideas, marking a notable difference between the two platforms.

In essence, while both TradeStation and Public.com offer basic market research capabilities, TradeStation provides a slightly more robust experience for traders, particularly in stock research and portfolio management. Investors prioritizing a platform with better research tools and screening capabilities may find TradeStation a more suitable option compared to Public.com, which lacks in certain areas crucial for in-depth market analysis.

Feature TradeStation logoTradeStation
Public.com logoPublic.com
Research - Stocks info Yes Yes
Screener - Stocks info Yes No
Research - ETFs info Yes Yes
Screener - ETFs info No No
Research - Mutual Funds info No No
Screener - Mutual Funds info No No
Research - Bonds info No No
Screener - Bonds info No No
Research 3/5 Stars 2/5 Stars

Banking

When evaluating the banking capabilities of online brokers TradeStation and Public.com, it's clear that both platforms focus strictly on investing services rather than traditional banking features. Neither TradeStation nor Public.com provides checking or savings accounts. Additionally, neither broker offers debit or credit card services, and they do not provide mortgage loans or Certificates of Deposit (CDs). Investors looking for comprehensive banking services alongside their trading platform might consider other options, as both TradeStation and Public.com lack offerings in these areas.

Feature TradeStation logoTradeStation
Public.com logoPublic.com
Checking Accounts info No No
Savings Accounts info No No
Debit Cards info No No
Credit Cards info No No
Mortgage Loans info No No
CDs info No No

Dive deeper: Best Bank Accounts for Trading Stocks for 2024

Winner

After opening live accounts and testing 18 of the best online brokers, our research and live account testing finds that TradeStation is better than Public.com. TradeStation finished with an overall score of 81.7%, while Public.com finished with a score of 72.9%.

TradeStation supports casual traders through its web-based platform and active traders through its desktop platform. We like the web-based platform and mobile app, but the flagship desktop platform could use a refresh.

FAQs

Can you trade cryptocurrency with TradeStation or Public.com?

TradeStation does not offer crypto trading, whereas Public.com allows users to trade 22 different cryptocurrencies, providing a diverse range of digital assets for investors.

Dive deeper: Best Online Brokers for Crypto Trading in 2024

Does TradeStation or Public.com offer IRAs?

TradeStation offers both traditional and Roth IRA accounts with an annual fee of $35.00 and a $50.00 closure fee, whereas Public.com does not provide IRA accounts and therefore charges no associated fees.

Dive deeper: Best IRA Accounts for 2024

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Compare

0 of 5
Overall Rating TradeStation Public.com
Overall 4/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 3/5 Stars
Platforms & Tools 4.5/5 Stars 2.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 4/5 Stars
Research 3/5 Stars 2/5 Stars
Customer Service 3.5/5 Stars N/A
Education 3.5/5 Stars 3/5 Stars
Ease Of Use 3.5/5 Stars 4/5 Stars
Winner check_circle
Review TradeStation Review Public.com Review
Broker Screenshots TradeStation Public.com
Trading Platform & Tools Gallery (click to expand)
Research Gallery (click to expand)
Mobile Trading Apps Gallery (click to expand)
Education Gallery (click to expand)
Trading Fees TradeStation Public.com
Minimum Deposit $0.00 $20.00
Stock Trades $0.00 $0.00 info
Penny Stock Fees (OTC) info $0.01 info $2.99
Mutual Fund Trade Fee $14.95 n/a
Options (Per Contract) $0.60 $0.00 info
Futures (Per Contract) $1.50 (Not offered)
Broker Assisted Trade Fee $25 n/a
Margin Rates TradeStation Public.com
Margin Rate Under $25,000 13.0% 8.75%
Margin Rate $25,000 to $49,999.99 13.0% 8.75%
Margin Rate $50,000 to $99,999.99 12.5% 6.75%
Margin Rate $100,000 to $249,999.99 12.0% 6.75%
Margin Rate $250,000 to $499,999.99 12.0% 5.75%
Margin Rate $500,000 to $999,999.99 7.5% info 5.75%
Margin Rate Above $1,000,000 7.5% info 5.75%
Account Fees TradeStation Public.com
IRA Annual Fee $35.00
IRA Closure Fee $50.00
Account Transfer Out (Partial) info $125.00 $75.00
Account Transfer Out (Full) info $125.00 $75.00
Options Exercise Fee $14.95 $0.00
Options Assignment Fee $5.95 $0.00
Investment Options TradeStation Public.com
Stock Trading info Yes Yes
Margin Trading Yes Yes
Fractional Shares info No Yes
OTC Stocks info Yes Yes
Options Trading info Yes Yes
Complex Options Max Legs info 4 0
Futures Trading info Yes No
Forex Trading info No No
Crypto Trading info No Yes
Crypto Trading - Total Coins info 0 22
Mutual Funds (No Load) info 800 0
Mutual Funds (Total) info 4000 0
Bonds (US Treasury) info Yes Yes
Bonds (Corporate) info Yes Yes
Bonds (Municipal) info Yes No
Traditional IRAs info Yes No
Roth IRAs info Yes No
Advisor Services info No No
International Countries (Stocks) info 0 0
Order Types TradeStation Public.com
Order Type - Market info Yes Yes
Order Type - Limit info Yes Yes
Order Type - After Hours info Yes Yes info
Order Type - Stop info Yes Yes
Order Type - Trailing Stop info Yes No
Order Type - OCO info Yes No
Order Type - OTO info Yes No
Order Type - Broker Assisted info Yes No
Beginners TradeStation Public.com
Education (Stocks) info Yes Yes
Education (ETFs) info No Yes
Education (Options) info Yes Yes
Education (Mutual Funds) info No No
Education (Bonds) info No No
Education (Retirement) info No Yes
Retirement Calculator info No No
Investor Dictionary info No Yes
Paper Trading info Yes No
Videos info Yes Yes
Webinars info Yes Yes
Webinars (Archived) info Yes Yes
Progress Tracking info No No
Interactive Learning - Quizzes info No No
Stock Trading Apps TradeStation Public.com
iPhone App info Yes Yes
Android App info Yes Yes
Apple Watch App info No No
Trading - Stocks info Yes Yes
Trading - After-Hours info Yes Yes
Trading - Simple Options info Yes Yes
Trading - Complex Options info Yes No
Order Ticket RT Quotes info Yes Yes
Order Ticket SRT Quotes info Yes No
Stock App Features TradeStation Public.com
Market Movers (Top Gainers) info Yes Yes
Stream Live TV info No No
Videos on Demand info No No
Stock Alerts info Yes No info
Option Chains Viewable info Yes Yes
Watch List (Real-time) info Yes Yes
Watch List (Streaming) info Yes No
Watch Lists - Create & Manage info Yes No
Watch Lists - Column Customization info Yes Yes
Stock App Charting TradeStation Public.com
Charting - After-Hours info Yes No
Charting - Can Turn Horizontally info No No
Charting - Multiple Time Frames info Yes Yes
Charting - Technical Studies info 45 0
Charting - Study Customizations info Yes No
Charting - Stock Comparisons info No Yes
Trading Platforms TradeStation Public.com
Active Trading Platform info TradeStation 10 n/a
Desktop Trading Platform info Yes No
Desktop Platform (Mac) info No No
Web Trading Platform info Yes Yes
Paper Trading info Yes No
Trade Journal info No No
Watch Lists - Total Fields info 341 3
Stock Chart Features TradeStation Public.com
Charting - Adjust Trades on Chart info Yes No
Charting - Indicators / Studies info 294 0
Charting - Drawing Tools info 23 0
Charting - Notes info Yes No
Charting - Index Overlays info Yes Yes
Charting - Historical Trades info Yes No
Charting - Corporate Events info Yes No
Charting - Custom Date Range info Yes No
Charting - Custom Time Bars info Yes No
Charting - Automated Analysis info Yes No
Charting - Save Profiles info Yes No
Trade Ideas - Technical Analysis info Yes No
Charting - Study Customizations info 12 0
Charting - Custom Studies info Yes No
Day Trading TradeStation Public.com
Streaming Time & Sales info Yes No
Streaming TV info No No
Direct Market Routing - Stocks info Yes No
Ladder Trading info Yes No
Trade Hotkeys info Yes No
Level 2 Quotes - Stocks info Yes No
Trade Ideas - Backtesting info Yes No
Trade Ideas - Backtesting Adv info Yes No
Short Locator info Yes No
Order Liquidity Rebates info Yes No
Research Overview TradeStation Public.com
Research - Stocks info Yes Yes
Research - ETFs info Yes Yes
Research - Mutual Funds info No No
Research - Pink Sheets / OTCBB info Yes Yes
Research - Bonds info No No
Screener - Stocks info Yes No
Screener - ETFs info No No
Screener - Mutual Funds info No No
Screener - Bonds info No No
Misc - Portfolio Allocation info Yes No info
Stock Research TradeStation Public.com
Stock Research - PDF Reports info 0 0 info
Stock Research - Earnings info No Yes
Stock Research - Insiders info No No
Stock Research - Social info No No
Stock Research - News info Yes Yes
Stock Research - ESG info No No
Stock Research - SEC Filings info No No
ETF Research TradeStation Public.com
ETFs - Strategy Overview info No Yes
ETF Fund Facts - Inception Date info No Yes
ETF Fund Facts - Expense Ratio info No Yes
ETF Fund Facts - Net Assets info No Yes
ETF Fund Facts - Total Holdings info No No
ETFs - Top 10 Holdings info No No
ETFs - Sector Exposure info No No
ETFs - Risk Analysis info No No
ETFs - Ratings info No No
ETFs - Morningstar StyleMap info No No
ETFs - PDF Reports info No No
Mutual Fund Research TradeStation Public.com
Mutual Funds - Strategy Overview info No No
Mutual Funds - Performance Chart info No No
Mutual Funds - Performance Analysis info No No
Mutual Funds - Prospectus info No No
Mutual Funds - 3rd Party Ratings info Yes No
Mutual Funds - Fees Breakdown info No No
Mutual Funds - Top 10 Holdings info No No
Mutual Funds - Asset Allocation info No No
Mutual Funds - Sector Allocation info No No
Mutual Funds - Country Allocation info No No
Mutual Funds - StyleMap info No No
Options Trading TradeStation Public.com
Option Chains - Basic View info Yes No
Option Chains - Strategy View info Yes No
Option Chains - Streaming info Yes No
Option Chains - Total Columns info 29 4
Option Chains - Greeks info 5 5
Option Chains - Quick Analysis info Yes Yes
Option Analysis - P&L Charts info Yes Yes
Option Probability Analysis info Yes No
Option Probability Analysis Adv info Yes No
Option Positions - Greeks info Yes Yes
Option Positions - Greeks Streaming info Yes No
Option Positions - Adv Analysis info Yes No
Option Positions - Rolling info Yes No
Option Positions - Grouping info Yes No
Banking TradeStation Public.com
Bank (Member FDIC) info No No
Checking Accounts info No No
Savings Accounts info No No
Credit Cards info No No
Debit Cards info No No
Mortgage Loans info No No
Customer Service TradeStation Public.com
Phone Support (Prospect Customers) info Yes No
Phone Support (Current Customers) info Yes No
Email Support info Yes Yes
Live Chat (Prospect Customers) info Yes Yes
Live Chat (Current Customers) info Yes Yes
24/7 Support info No No
Overall TradeStation Public.com
Overall 4/5 Stars 3.5/5 Stars
Commissions & Fees 4.5/5 Stars 4.5/5 Stars
Investment Options 4.5/5 Stars 3/5 Stars
Platforms & Tools 4.5/5 Stars 2.5/5 Stars
Mobile Trading Apps 4.5/5 Stars 4/5 Stars
Research 3/5 Stars 2/5 Stars
Education 3.5/5 Stars 3/5 Stars
Ease Of Use 3.5/5 Stars 4/5 Stars
Winner check_circle
Review TradeStation Review Public.com Review
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