Public review: Is it worth it in 2026?

By Nicolas StrautLast updated October 7, 20269 min read

Tweed is committed to editorial integritySome links on this page are referral or affiliate links, which means Tweed is paid when you open an account or sign up through them. That payment never changes what we write.

Payment never influences our evaluations: every fee, rate, and rule on this page comes from the provider's own terms, observed on the date shown under the headline, and our verdict would read the same without the link. Providers can change or end their offers without notice, and they do not review our pages before we publish.

Tweed's author receives $100 in a stock or ETF from Public when a friend opens an account through the link on this page and makes a first deposit of $1,000 or more.

The investing information provided on this page is for educational purposes only. Tweed does not offer advisory or brokerage services, and does not recommend or advise investors to buy or sell particular stocks, securities or other investments.

Key takeaways

Public holds a 4.7 out of 5 rating across roughly 85,000 App Store reviews, a stronger app-store reputation than most discount brokers see.
Public charges $0 commission on stocks, ETFs, options, and crypto trades, and its Bond Account offers direct Treasury and corporate-bond access that most competitors make harder to find.
Public is best for an investor who wants bonds, Treasuries, and fractional shares in one account, while Robinhood is the better fit for a trader who wants the largest brand and a cheaper paid tier.

In this article

Who is Public for?
Public pros and cons
Is Public safe and legitimate?
Public detailed review
Is Public Reserve worth it?
The verdict: Is Public worth using in 2026?
Public vs the alternatives
Model your own numbers before you open an account
Frequently asked questions about Public

Public built its name on commission-free trading and social features, then expanded into bonds, Treasuries, and a high-yield cash account. This review examines Public's current fee schedule, its new Public Reserve subscription, whether its cash and securities are protected, and what its bond access buys you that a typical discount broker doesn't. You'll learn how Public makes money without charging you a commission and whether that model changes what you should expect from Public.

Who is Public for?

Three groups get the most out of Public: investors who want bond access alongside stocks, beginners who want fractional shares across asset classes, and savers comparing Public's cash account with a bank.

Investors who want bond and Treasury access alongside stocks

Few commission-free apps offer individual bonds and Treasuries as directly as Public does. Bond and Treasury access is the one feature in our best brokerage accounts roundup that only Public offers.

Beginners who want fractional shares across asset classes

Fractional investing extends to bonds as well as stocks on Public, which is unusual even among the other brokers in our best brokerage accounts roundup. Fidelity vs Public compares Public's fractional investing with Fidelity's.

Savers weighing Public's cash account against a bank

Public's high-yield cash account is not a full checking product, so don't expect physical branches or check printing from it. Public vs SoFi compares Public's cash account with an app that pairs investing with a full bank account. The best high-yield savings accounts roundup compares Public's cash rate with five bank savings accounts.

Open an account

Public puts bonds and stocks in one account

Stocks, ETFs, options, and crypto all trade commission-free, and individual bonds and Treasuries sit in the same account with no separate monthly fee.

Open a Public account →

Public pros and cons

Feature	Pros	Cons
Trading costs	$0 commission on stocks, ETFs, options, and crypto, and $0 per options contract	Options trades aren't covered by the no-PFOF claim; Public runs a separate rebate program for those instead
Bonds and Treasuries	Direct access that most competitors make harder to find	Smaller fixed-income desk than a full-service broker like Schwab
Cash account	Up to $5 million in aggregate FDIC coverage across partner banks	APY floats with short-term rates and isn't locked in
Fractional shares	Available across stocks and bonds	Smaller overall brand and platform footprint than Schwab or Robinhood
Public Reserve	4% IRA contribution match and 3.75% APY on cash	$20 a month, and the 4% match covers that cost only above $8,000 a year in contributions
Leaving	No account minimum to keep	$100 to transfer an account out by ACAT

If the $20 Reserve price is the dealbreaker, Robinhood Gold pays a 3% IRA match for $5 a month (see our Robinhood review).

Is Public safe and legitimate?

Regulatory oversight and SIPC protection

Public's broker-dealer entity is Open to the Public Investing, Inc., an SEC- and FINRA-registered broker-dealer and SIPC member. SIPC covers securities up to $500,000, including $250,000 for cash claims. That is the standard SIPC limit, not extra coverage Public added.

Cash account FDIC insurance

Public's cash sweeps across a network of partner banks, each covered up to $250,000, for up to $5 million in aggregate FDIC coverage.

Crypto sits outside SIPC and FDIC

Public's crypto assets are held by third-party custodian Zero Hash LLC, not by Public itself. Neither crypto nor any prediction-market product carries SIPC or FDIC protection. Robinhood draws the same distinction for its own crypto offering.

Public detailed review

How Public makes money without charging commissions

Public doesn't accept payment for order flow on standard equity trades placed in its app or website, which sets Public apart from most commission-free brokers. That claim doesn't extend to options, where Public charges $0 per contract and instead pays traders a rebate of $0.06 to $0.18 per contract through its Options Rebate Program.¹The rest of Public's revenue comes from Public Reserve subscriptions and margin lending.

What you can trade on Public

Stocks, ETFs, options, crypto, bonds, and Treasuries, plus a high-yield cash account.

Public's bond and Treasury account

You can buy corporate bonds, municipal bonds, and US Treasuries directly, with low minimums. Those minimums let you buy bonds with a smaller portfolio than a typical bond desk requires. Public's fee schedule, updated September 23, 2026, lists no separate monthly fee for the bond account.¹

Public's IRA match

Public matches IRA contributions and, since September 14, 2026, IRA transfers and ACATS transfers into taxable accounts.²The contribution match has run since March 24, 2025, while the transfer match is new.³

Match	Rate	What it applies to	Hold
Contribution match, no subscription	1%	Annual traditional and Roth IRA contributions, capped at the annual limit	5 years
Transfer match	1%	IRA transfers and ACATS transfers into taxable Public accounts made on or after September 14, 2026; no cap stated	5 years
Contribution match with Public Reserve	4%	Annual IRA contributions, paid monthly over 12 months	5 years

As of October 6, 2026, Public calls the transfer offer an "uncapped 1% match" and states no end date. Matched funds must stay in the account for at least 5 years to avoid an early removal fee.

Is Public Reserve worth it?

Public Reserve is Public's paid tier, priced at $20 a month. Reserve replaced Public Premium, and the free tier is now called Public Core.⁴Reserve is worth paying for only if you max out an IRA at 50 or older or keep a large cash balance at Public. Below $8,000 in contributions, the 4% match alone doesn't cover the $240 annual fee.

Public Reserve feature	Terms as of October 6, 2026
Price	$20 a month ($240 a year)
Cash APY	3.75%, vs 3.30% without Reserve
IRA contribution match	4%, paid monthly over 12 months, 5-year hold
Asset matches	1% on Generated Assets and 0.5% on Direct Indexing or Treasury deposits, on up to $250,000, paid over 24 months
Support	Priority support

What the 4% match is worth after the fee

The extra 3 points of match over Public Core cover the $240 fee only at $8,000 a year in contributions. That threshold is above the $7,500 limit for savers under 50. At the full $8,600 catch-up limit, you'll gain $18 after the fee.

Annual IRA contribution	Public Core match (1%)	Public Reserve match (4%)	Extra match minus $240 fee
$7,500	$75	$300	−$15
$8,000	$80	$320	$0
$8,600	$86	$344	$18

The cash rate is the other half of the value. Reserve's 3.75% beats the 3.30% base rate by 0.45 points, An under-50 saver who maxes out the IRA needs about $3,333 in cash at Public to close the $15 gap. The cash rate alone covers the full $240 fee at about $53,333.

Public Reserve pays a 4% IRA match for $20 a month

Reserve is worth paying for only if you max out an IRA at 50 or older or keep a large cash balance at Public. Below $8,000 in contributions, the 4% match alone doesn't cover the $240 annual fee.

See Public Reserve →

The verdict: Is Public worth using in 2026?

Public holds a 4.7 out of 5 rating from roughly 85,000 App Store ratings, observed in August 2026.⁵Tens of thousands of raters describe a reliable daily-use experience. The fee schedule backs that up, with few charges outside the $100 transfer fee and the optional Reserve plan.

Public is worth using if you want bond access in the same account as stocks and value a clean interface. You can open a Public account with no minimum. Skip Public if you want the largest brand, a cheap paid tier for an IRA match, or the deepest research tools, because Robinhood or Schwab serve those needs better. For a fully automated, hands-off pick, SoFi fits better, as covered in our SoFi Active Investing review. Public vs Robinhood prices the two IRA matches side by side, and Webull vs Public compares Public's match with Webull's 3.5% Premium match.

Public vs the alternatives

Feature	Public	Charles Schwab	Interactive Brokers
Commission (stocks/ETFs)	$0	$0	$0
Bond/Treasury access	Direct, consumer-friendly	Available via Schwab's bond desk, less consumer-facing	Available for active and professional traders, steeper learning curve
Research and analysis tools	Moderate, retail-focused	Deep, industry-leading, 24/7 support	Professional-grade, overwhelms a first-time investor
Fractional shares	Stocks and bonds	Stocks only (Schwab Stock Slices)	Stocks
Premium/subscription tier	Public Reserve, $20/month	None	None

Public vs Charles Schwab

Schwab wins on research depth and its broader bond desk for anyone managing a bigger, more active portfolio. Public wins on simplicity and fractional access to the same asset classes for a smaller account. Full review: Charles Schwab review, and the head-to-head on fees and IRAs is Schwab vs Public.

Public vs Interactive Brokers

Interactive Brokers wins for an active or global trader who wants professional-grade tools and tiered margin rates. Interactive Brokers vs Webull compares Interactive Brokers with an app-first broker. Public wins for a beginner-to-intermediate investor who wants bond and Treasury access without the learning curve. Full review: Interactive Brokers review.

Model your own numbers before you open an account

Project how a lower-cost brokerage account compounds over 10, 20, and 30 years using the Tweed retirement calculator, then check the Public referral code guide for how the sign-up offer works. The Tweed Brokerage Account Bonus Calculator ranks Public's transfer match against the other current offers by what you keep. If Public fits, open a Public account.

Ready to decide

Public fits an investor who wants bonds in the same account

Use Public if you want to buy bonds and stocks in one account with a clean interface. Choose another broker for a larger brand, a cheap paid tier for an IRA match, or the deepest research tools.

Get started with Public →

Other free stock bonuses

Tweed is paid when you open an account through these links. Terms are each company's own, checked on the date shown.

Robinhood
The easiest to get, with no deposit, though most people get $5
Bonus
$5 to $200 in a stock you pick; about 99% get $5
Minimum deposit
None; link a bank or debit card
Ends
Ongoing; terms checked October 6, 2026
App Store 4.3 out of 5 from 4.9M ratings, read October 6, 2026. Full terms
Get the Robinhood bonus
SoFi Invest
A fixed $25 for a $25 deposit
Bonus
$25 in stock
Minimum deposit
$25
Ends
Ongoing; terms checked October 12, 2026
App Store 4.7 out of 5 from 385K ratings, read October 6, 2026. Full terms
Get the SoFi Invest bonus

Frequently asked questions about Public

Does Public.com charge commission fees?

No, Public does not charge commission on stock, ETF, options, or crypto trades, and stock and ETF options cost $0 per contract. Its optional Public Reserve plan costs $20 a month and adds a higher cash rate and a larger IRA match. Reserve doesn't change commission-free trading on the free tier.

What happened to Public Premium?

Public Premium no longer exists, and Public's site no longer mentions it. Public's old Premium page now redirects to the homepage, and Public sells a $20-a-month plan called Public Reserve in its place. The free tier is now called Public Core, and it keeps the 1% IRA contribution match and commission-free trading.

Can I transfer my Public account to another broker?

Yes, you can transfer your Public account to another broker, and Public charges $100 for an outgoing ACAT transfer. If any of the money earned a match in the past 5 years, moving it out can also trigger Public's early removal fee. Check the match dates on your account before you start the transfer.

Does Public have an inactivity fee?

Yes, Public charges a $3.99 monthly inactivity fee, but only on accounts holding under $70 with no activity in the past 6 months. Keeping at least $70 in the account, or placing a trade or deposit within any 6-month window, avoids the fee, according to the fee schedule Public updated on September 23, 2026.

Does Public offer a crypto IRA?

Yes, Public offers a crypto IRA, and it charges a custodial fee of 0.05% per month, which works out to 0.6% a year. That's a cost you won't pay in a stock and ETF IRA, which has no custody fee. Crypto inside the IRA still sits with a third-party custodian and carries no SIPC or FDIC protection.

What do Treasuries pay on Public?

Treasuries on Public showed a 4.31% yield on October 6, 2026, and that figure moves daily with the Treasury market. The yield you lock in depends on the maturity you buy and the day you buy it. Holding a Treasury to maturity returns its face value, whatever happens to rates in between.

Can I have a Roth IRA at both Public and Robinhood?

Yes, you can have a Roth IRA at both Public and Robinhood, since the IRS doesn't limit how many IRAs you open. Your contributions across every IRA still share one limit, $7,500 in 2026 or $8,600 at 50 or older, and each broker matches only the dollars you contribute to its own account.

Sources

https://public.com/disclosures/fee-schedule
https://public.com/ira
https://public.com/disclosures/matchprogram
https://public.com/reserve
https://apps.apple.com/us/app/public-invest-trade/id1204112719

Nicolas Straut

Personal finance writer, former Forbes contributor and This Week in Fintech writer. He isn't a financial advisor or a CPA.

nicstraut.com

All 37 reviews →