Posted by William Charles on November 14, 2019
Brokerage Bonuses

Published on November 14th, 2019 | by William Charles

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Public (Formerly Matador) App – 2.5% APY, Free Stock Trading & Up To $50 Referral Bonus (iOS & Android)

Update 11/13/19: Public is now offering a ‘slice’ of a stock up to $50. You get 9 stocks to choose from when signing up and then you’ll receive up to $50 of that stock. It’s difficult to tell if this or the previous $20 offer is better as they don’t share the break down of how likely each ‘slice’ is. They have also added an Android app and removed the referral limit.

Update 8/29/19: Matador is now going by the name Public. Name changes never inspire me with confidence.

Matador App is another stock trading platform that is currently only available via an iOS app. They also offer a cash management account that offers 2.5% APY on balances up to $10,000. Matador claims that this is protected by SIPC insurance, but we’ve seen issues with competitors like Robinhood.

Contents

Referral Bonus

If you use a referral link to sign up and deposit $20 you’ll also receive a $20 bonus. The person referring you will also receive a $20 bonus (can refer up to 25 people). Feel free to share your referrals in the comments.

Our Verdict

Personally I’m staying away from all of these smaller apps for now, Matador has received $6.5 million in funding from Accel & Greycroft but I don’t really see many if advantages over something like Robinhood. The 2.5% APY account is interesting, but I’m not that confident that the SIPC insurance will actually cover it with the issues Robinhood & Betterment have faced.

Matador’s main differentiation compared to those products seems to be the social side of seeing what your friends have purchased. Personally I have no interest in seeing what my friends purchased and wouldn’t really want them to be able to see that information from me either. In addition I find these app only offerings to be extremely limiting, why not just have a desktop solution as well so Android users aren’t completely excluded?



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Kishore
Kishore

Please use my referral code:

https://share.matadorapp.com/kishore

dayTradeIt
dayTradeIt

Used yours, thanks!

AndreRamirez
AndreRamirez
JAY T
JAY T

Used urs

AndreRamirez
AndreRamirez

Awesome, thank you so much 🙂

Dan - Legal Bank Robber
Dan - Legal Bank Robber
Truc
Truc

Used yours 🙂 here is mine https://share.matadorapp.com/marehkohen

Paul Vape
Paul Vape

Used Truc’s. Thanks! Here’s mine:
https://share.public.com/spradling

HelpyBoi
HelpyBoi

The username gives me some pause. Hopefully my money is safe.

HCL
HCL

Here is my referral link:
https://share.matadorapp.com/f128482000

Thanks for anyone using my link.

Intl. Churner
Intl. Churner
ranova
ranova

“Matador claims that this is protected by SIPC insurance, but we’ve seen issues with competitors like Robinhood & Betterment making this claim previously.”

Betterment savings is 1mil insured by FDIC, not SIPC

Betterment LLC clients may choose to participate in Betterment Everyday Savings (“Savings”), through which clients’ funds are deposited into one or more banks (“Program Banks”) where the funds earn a variable interest rate and are eligible for FDIC insurance. FDIC insurance is not available until deposits are received by the Program Banks. There are currently at least four Program Banks, which allows funds deposited into Savings to be eligible for up to $1,000,000.00 of FDIC insurance (up to $250,000 at each program bank)

Jojo
Jojo
Dr Frog
Dr Frog
Dr Frog
Dr Frog
FanOfDoc
FanOfDoc
Jojo
Jojo

Would be grateful if guys use my referral link:

https://share.matadorapp.com/jojozhou93

Thanks 🙂

Joe
Joe
Gabriel Martinez
Gabriel Martinez
Daniel Wu
Daniel Wu

It is simply too risky to put fun in a start up company

Anonymous166
Anonymous166

How do you even use a referral link? The link causes the app store to pull up, but there’s no indication that the refer link transfers too. Is it automatic? I don’t want to sign up to find that no refer bonus is included!

Also, I have read that there is a $75 withdrawal fee/minimum. Can someone explain this?

Jay
Jay

same here…doesn’t say anything about referral

Michael
Michael

It should tell you about the sign up bonus during/after the sign up process. All referral links should automatically take you to the App Store to download the app and sign up.

Matt
Matt

i didnt see anything…well, it’s worth it just for the referral to someone else.

Dominique
Dominique

If you use a referral link to sign up, you will see the $20 credit in your account within a couple of days of funding it. Program is definitely still active according to my app.

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