Yes - you can have a second Public account! At Public, we offer two account types for your brokerage account, where you can trade stocks, bonds, ETFs, and options: Cash or Margin. While you are limited to having only one Margin account, you can open a second account as a cash account! If you do not hold a margin account, you can also open two cash accounts.
How are the accounts managed and what are the limitations?
To hold two accounts, you will need to sign up for your second account using a different email. The two accounts will be completely separate. Additionally:
The positions in each account will only show when logged into that account and cannot be transferred between accounts.
Each account will receive separate statements and tax documents
You can open a High Yield Cash account on either or both accounts created. Please note this will generate separate documentation for each account.
Only one account may have a managed treasury account provided by Jiko Securities Inc., LLC, but you may directly invest in bonds in both accounts.
How do I open a Cash account?
When completing your brokerage account application, you will encounter the page on which you 'Accept Terms & Conditions'. On that page, there is a checkbox that says 'Open a margin account'. To open a Cash account, ensure that box is *not* checked.
If you have any questions regarding opening a second account or have unique circumstances that might require a third account, please reach out to our team via the in-app chat or our email at support@public.com.