Yeah, it’s definitely shady. They’re packaging junk bonds with a nice-sounding ‘locked in’ rate, but there’s a lot of risk and hidden fees. New investors might not realize how much of a gamble they’re actually taking. Just goes to show you need to read the fine print, especially when they make it sound too good to be true.
I pulled all my money from their platform a few months ago because of this. I found it really scummy.
Arlen said:
I pulled all my money from their platform a few months ago because of this. I found it really scummy.
Where did you move your money to? What else made you switch? Just curious about what attracts people to these fintech companies.
@Peyton
I already had accounts with Fidelity, Vanguard, Robinhood, Schwab, and M1. I’d rate them in that order. I pulled my money from Public because of their deceptive marketing around corporate bonds when they added them to the platform. I also tried their treasury bonds, but their buying/selling process was weird because they use a third party, which I didn’t like. Overall, Public was worse than all the platforms I listed, so I took everything out.