Public.com Review: Options Rebates Meet Low Margins
Key Takeaways
- Public is the only US broker offering options trading rebates — $0.06 to $0.18 per stock or ETF contract based on monthly volume
- Margin rates have risen to 5.65% base but remain the lowest among major brokers, roughly half what Fidelity and Schwab charge
- Bond Account yields 5.5% and fractional bonds start at $100 — features no other broker matches
- AI tools (Alpha, Key Moments, Earnings Hub) and new trading features (Strategy Builder, Queue, Rolling Options) add research and execution value
- Limited account types (no joint, SEP IRA, 529, or custodial) mean it can't be your only brokerage for family or business needs
Public has evolved from a social-investing app into one of the most feature-rich multi-asset platforms in the US. The headline pitch hasn't changed: it's the only broker that pays you rebates on options trades, at $0.06–$0.18 per stock or ETF contract. But the platform keeps adding to the stack — bonds from $100, Treasuries, direct indexing, AI-powered research, and a programmatic trading API.
The fee picture has shifted since launch. Margin rates have climbed to a 5.65% base rate (up from 4.90% in late 2024), though Public still claims the lowest base rate among leading brokerages. The Bond Account now yields 5.5%, and the High-Yield Cash Account sits at 3.3% APY. Options rebates remain unchanged, and that's where Public's real value proposition lives.
Public is best suited for active options traders who want to minimize costs, yield-seekers who want bonds and Treasuries alongside stocks, and self-directed investors who value AI research tools. It's FINRA-registered and SIPC-protected, with a growing feature set that increasingly rivals the established players. Here's whether it deserves your money.
Fees
What You Can Trade
Platform and Tools
Who It's For
How It Compares
Conclusion
Public has matured from a social-investing novelty into a serious multi-asset platform. The options rebate program remains unique in the industry, and the margin rates — while higher than a year ago at 5.65% — still undercut every traditional broker by a wide margin. The Bond Account at 5.5% yield and fractional bonds from $100 add genuine fixed-income accessibility that most competitors can't match.
The platform's AI tools (Alpha, Key Moments, Earnings Hub) are more than marketing — they save real research time. And newer additions like the Strategy Builder, Queue, and Rolling Options show a broker that's iterating fast on its trading infrastructure.
The gaps are real: no joint accounts, no SEP IRAs, no mutual funds, and crypto fees that aren't transparent enough. If you need a one-stop-shop broker for your entire financial life, Fidelity or Schwab is still the better choice. But if you trade options actively, want cheap margin, or care about accessible bond investing, Public delivers more value per dollar than any competitor right now.
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Sources & References
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Disclaimer: This content is AI-generated for informational purposes only and does not constitute financial advice. Consult qualified professionals before making investment decisions.