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.
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?
https://public.com/pisa
Managed to use PPK for 5k and used someone’s referral code here.
https://public.com/user-referral?referrer=Vader76
Use Davis’s here’s mine:
Code: deadpan7
https://share.public.com/deadpan7
Referral code: uncalled4
Referral code: davis001
public.com/neoaustin
Enter my referral code in the app: neoaustin
PPK and public not dead yet. Was able to fund $5k via the app today. Wasn’t able to link through their website the last 2 days.
https://share.public.com/shawn500
Enter my referral code in the app: shawn500
1. You will get a free stock of your pick valued $3 to $300.
2. The best value of this account is that it provides an excellent opportunity for MS if you have PPK. Add your PPK as a debit card to fund your account for up to $5000. It counts as online shopping for BoA Customized Cash Rewards card to earn 3% baseline cashback.
3. You can turn off Public Portfolio in Account Settings to prevent others from seeing your investment portfolio.
4. The referral promotion stacks with Swagbucks or MyPoints offer for you to get extra $35-$40 for opening the account.
My referral link: https://share.public.com/MSFreebie Thanks to whoever uses it!
https://share.public.com/sg77
enter this code in the app: sg77
It’s currently giving a free stock slice worth $3 to $500 (you pick the stock, and the amount it gives you is random).
I used scott’s link and got $3 AMZN.
Used your link and got $3 SPY
https://share.public.com/sreg
Each of us will receive a free stock in a company of our choosing.