How to Open a Public Brokerage Account – Step-by-Step Guide

Opening a brokerage account can feel intimidating if you’re new to investing. But with platforms like Public.com, the process is streamlined and beginner-friendly. In this comprehensive guide, we’ll walk you through each step needed to open a Public brokerage account, fund it, and start buying or selling stocks and ETFs.

Whether you’re an investing novice or someone looking for a simpler interface, Public.com offers a user-friendly experience designed to help you take control of your financial future.

Step 1: Start the Sign-Up Process

To open a Public brokerage account, begin by heading to Public.com and clicking on the “Get Started” button. You’ll be prompted to enter your email address, create a password, and provide your phone number.

Once submitted, a six-digit verification code will be sent to your phone. Enter the code to proceed.

Step 2: Enter Personal Information

Now it’s time to fill in your personal information. Public.com, like all regulated brokers, requires this data to comply with identity verification laws.

You’ll be asked to provide:

• Date of birth
• Citizenship status
• Employment status (if employed, include your employer’s name and job title)
• Marital status
• Number of dependents

Then, answer three compliance questions:

• Are you or any immediate family members 10% shareholders in a public company?
• Do you or your family work for a securities exchange, FINRA, or brokerage firm?
• Are you or your family politically exposed?

If none apply, simply select “None of these apply” and move on.

Step 3: Provide Contact and Tax Information

Enter your full name, residential address, and your Social Security Number (SSN).

This information is mandatory for tax reporting and identity verification purposes.

Step 4: Enable Crypto (Optional)

Public.com gives you the option to enable cryptocurrency trading. If you’re familiar with the crypto market, enabling it can offer additional investing flexibility. If not, you can skip this step and enable it later if you choose.

Step 5: Choose Your Account Type

You’ll need to decide between a Cash Account and a Margin Account:

Cash Account

• Use only the money you deposit
• No borrowing or leverage
• No risk of a margin call
• Ideal for beginners and long-term investors
• Can still trade options (Level 2 only)

Margin Account

• Allows borrowing funds to trade
• Increases both potential gains and risks
• Subject to interest charges
• May face margin calls if investments drop

If you’re just starting out, a cash account is the safer and simpler option.

Step 6: Agree to Terms and Conditions

Read through the terms and conditions. Once you agree, scroll to the bottom and click “I Agree.” This completes your application submission.

Step 7: Select Your Investment Goals

Now Public will ask about your investing goals, such as:

• Growth
• Income
• Preservation of capital
• Short-term trading

Choose the option that best fits your financial intentions. You’ll also be asked about:

• Annual income
• Estimated net worth
• Total cash available for investment

These details help tailor your experience and ensure you meet suitability requirements.

Step 8: Indicate Your Investment Interests

Here, you can select the asset classes you’re interested in:

• Stocks
• ETFs
• Options
• Bonds
• Treasury Bills
• Crypto
• High-Yield Cash

You can skip or select multiple categories. If unsure, don’t worry—you can update this information later.

Step 9: Add a Trusted Contact (Optional)

Public offers the option to add a trusted contact—someone the broker can contact in case of suspicious activity or emergencies. You can skip this and return to it later if needed.

Step 10: Fund Your Account

To open a Public brokerage account successfully, you need to fund it. Here’s how:

1. Enter the amount you want to deposit (e.g., $30).
2. Choose your funding method:
   • Instant Bank Link (recommended)
   • Wire Transfer

For instant linking, select your bank or type its name. Public uses Plaid, a secure service used by most brokers, to connect your bank.

Once connected:

• Confirm the account
• Enter the deposit amount again
• Review transfer terms
• Hit “Confirm”

Funds will now be available to trade.

Step 11: Buy Stocks and ETFs

Once your account is funded, you can begin trading. Here’s how to buy stocks or ETFs on Public:

1. Use the search bar to find the asset (e.g., SCD – Schwab U.S. Dividend Equity ETF).
2. Review key information:
   • Price chart
   • Dividend yield
   • Expense ratio
   • Top holdings
   • 52-week range
   • Average annual returns
3. Scroll back up to the trading panel.
4. Choose to buy in dollars (partial shares) or shares (whole units).
5. Enter the amount or number of shares.
6. Keep the market order type (default).
7. Click “Review Order”, then “Submit Order.”

Your order is now placed.

Step 12: Sell Assets

To sell an asset:

1. Go to your dashboard and click on the asset (e.g., SCD).
2. Click “Sell” in the top right corner.
3. Enter the amount to sell (dollars or entire share).
4. Click “Preview.”
5. Review the small fee (e.g., $0.02).
6. Click “Submit Order.”

Your sale will be executed and the proceeds will appear in your cash balance.

Final Thoughts

Learning how to open a Public brokerage account is your first real step into investing. Public.com makes the process intuitive and manageable, even if you’ve never invested before.

Key Takeaways:

• The account setup takes only a few minutes and requires standard identification info.
• A cash account is ideal for most beginners due to its lower risk.
• Crypto trading and other features can be enabled later if desired.
• The platform supports fractional shares, recurring investments, and access to various asset classes.

By following the steps outlined above, you’ve now learned how to open a Public brokerage account, fund it securely, and start investing in assets that match your goals.

Whether you’re investing for long-term growth or exploring new markets, Public.com offers a transparent and beginner-friendly platform to help you get started.