Public Review

Active investors who want options rebates and API access

SEC FINRA SIPC FDIC NYSDFS

Why investors choose this broker

$0 regular-hours US stock and ETF trades
Options rebates of $0.06-$0.18 per stock or ETF contract
Margin rates range from 4.90% to 4.25%
Public API supports programmatic trading

Review summary

Public is a US multi-asset investing platform offering stocks, ETFs, options, bonds, crypto, margin, AI tools, a trading API and cash products.

Pros

$0 regular-hours US stock and ETF trades
Options rebates of $0.06-$0.18 per stock or ETF contract
Margin rates range from 4.90% to 4.25%
Public API supports programmatic trading
High-Yield Cash Account pays 3.30% APY with no fees
Direct indexing starts with as little as $1,000
SIPC protection up to $500,000 for cash and securities
FDIC protection up to $5 million for High-Yield Cash Account

Cons

$2.99 extended-hours stock and ETF trades without Premium
OTC stock trades cost $2.99 without Premium
Inactivity fee is $3.99 every month
Outgoing ACAT transfers cost $100
Instant Withdrawals cost up to 3.5%, minimum $1
Crypto assets are not FDIC or SIPC insured
Fractional shares are not transferable outside Public
Premium costs $10 monthly or $96 annually unless waived

Company background

Public is a US-based multi-asset investing platform. It offers access to stocks, ETFs, options, bonds, Treasuries, crypto, margin, Investment Plans, direct indexing, Generated Assets, a High-Yield Cash Account and an API for programmatic trading. The company says Public is based in New York and provides US-based customer support.

The platform is aimed at investors who want a broad product range in one account, with extra emphasis on options rebates, bond access, AI-powered investing tools and automated or recurring investing features.

Fees and pricing

Public charges $0 for regular market-hours trades in US-listed stocks and ETFs in self-directed individual cash brokerage accounts. Non-Premium members pay $2.99 per extended-hours stock or ETF trade and $2.99 per OTC stock trade, while Premium members pay $0 for those trades.

Stock and ETF options are listed at $0. Index options cost $0.50 per contract for regular users and $0.35 per contract for Premium members. Public also offers options rebates of $0.06-$0.18 per stock or ETF contract, depending on trading volume and other conditions.

Other explicit fees include a $3.99 monthly inactivity fee, $25 domestic outgoing wires, $100 outgoing ACAT transfers, and Instant Withdrawals costing up to 3.5% with a $1 minimum. The foreign exchange transaction fee is 0.30% of total FX transaction volume.

Regulation and safety

Brokerage services for US-listed securities, options and bonds are provided by Open to the Public Investing, Inc., a registered broker-dealer and FINRA/SIPC member. Public Advisors LLC is an SEC-registered investment adviser. SIPC protects eligible cash and securities up to $500,000, and the High-Yield Cash Account has FDIC protection up to $5 million through partner banks.

Crypto services are provided by Zero Hash LLC. Crypto assets are not FDIC or SIPC insured, and Zero Hash is not a registered broker-dealer or FINRA member.

Platform experience

Public refers to trades placed through its mobile app or website as the Public Platform. It also offers an API that lets users access real-time market data and automate trading. The site highlights AI Agents, market briefings, earnings summaries, a research assistant, Generated Assets and options tools such as Options Hub and a customizable options chain.

Pros and cons

Public is strongest for investors who value $0 regular-hours stock and ETF trades, options rebates, API access, margin, bonds and crypto access in one platform. Its main drawbacks are specific account and transfer fees, non-Premium charges for OTC and extended-hours trades, and the lack of FDIC or SIPC protection for crypto assets.

Ready to open an account at Public?

Open an account directly with the broker. Confirm current fees and account eligibility on the broker's website before depositing.

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Your capital is at risk. Other fees apply.

Trading fees & commissions

Public charges $0 for regular market-hours trades in US-listed stocks and ETFs, while non-Premium users pay $2.99 for extended-hours stock and ETF trades and OTC stock trades. Stock and ETF options are $0, index options cost $0.50 per contract for regular users and $0.35 for Premium members, and margin rates range from 4.90% to 4.25% by debit balance.

Fees

Item	Fee
Bonds	Treasury Bonds $0.100-$0.250 per $100 of par value; Corporate Bonds $0.350-$0.5000 per $100 of par value
Crypto	$0.49-$3.29 for orders from $0.01-$250.00; 0.60%-0.10% by monthly crypto trading volume
Margin	4.90% up to $50,000; 4.75% $50,000 up to $100,000; 4.50% $100,000 up to $1 million; 4.25% $1 million up to $10 million
Account	$0
Custody	Crypto IRA Custodial Fee 0.05% per month based on the daily balance of your Crypto IRA
Deposit	Incoming ACH: $0; incoming wire: $0; incoming ACAT: $0
Options	$0 for stock and ETF options; index options $0.50 per contract; Premium member index options $0.35 per contract
Inactivity	$3.99 every month
Withdrawal	Outgoing ACH: $0; outgoing wire (domestic): $25; outgoing ACAT: $100; Instant Withdrawals up to 3.5% of the amount withdrawn, subject to a minimum of $1
Bond Account	Premium Members: $0; Non-Premium Members: $3.99 per month
Fx Conversion	0.30% of total volume of FX transaction
Investment Plans	1-3 symbols $0.49 per recurring purchase; 4-10 symbols $0.99 per recurring purchase; 11-20 symbols $1.99 per recurring purchase
Treasury Account	0.29%-0.09% annual management fee by portfolio value
Premium Subscription	$10 monthly and $96 annually; waived for accounts over $50,000

Trading platform & features

Platforms

Public Platform
API

Regulation and investor protection

US-listed securities, options and bonds are offered through Open to the Public Investing, Inc., a registered broker-dealer and FINRA/SIPC member. Public Advisors LLC is an SEC-registered investment adviser, while crypto services are provided by Zero Hash LLC and are not FDIC or SIPC insured.

Broker FAQs

Is Public safe?

Public offers securities brokerage through Open to the Public Investing, Inc., a registered broker-dealer and FINRA/SIPC member. Eligible cash and securities are protected by SIPC up to $500,000, while the High-Yield Cash Account has FDIC protection up to $5 million through partner banks.

Is Public a scam?

No. Public lists brokerage services through Open to the Public Investing, Inc., a registered broker-dealer and FINRA/SIPC member, and advisory services through Public Advisors LLC, an SEC-registered investment adviser.

Is Public regulated and by whom?

Public Investing is a registered broker-dealer and FINRA/SIPC member. Public Advisors LLC is an SEC-registered investment adviser, and crypto services are provided by Zero Hash LLC, which is licensed by the NYSDFS for virtual currency business activity and money transmission.

What happens to my money if Public goes bankrupt?

SIPC protects eligible cash and securities in a Public brokerage portfolio up to $500,000. The High-Yield Cash Account has FDIC protection up to $5 million through partner banks.

What does Public charge for stock trades?

Public charges $0 for US-listed stock and ETF trades during regular market hours. Non-Premium users pay $2.99 per extended-hours stock or ETF trade and $2.99 per OTC stock trade.

Does Public charge an inactivity fee?

Yes. Public lists an inactivity fee of $3.99 every month.

What is Public's currency conversion fee?

Public lists a foreign exchange transaction fee of 0.30% of the total volume of the FX transaction for non-USD deposits into USD or USD withdrawals into non-USD currency.

Is there a withdrawal fee at Public?

Outgoing ACH transfers are $0. Domestic outgoing wire transfers cost $25, outgoing ACAT transfers cost $100, and Instant Withdrawals cost up to 3.5% of the withdrawn amount with a $1 minimum.

What products does Public offer?

Public offers stocks, ETFs, options, bonds, Treasuries, crypto, margin, Investment Plans, direct indexing, Generated Assets, IRAs, a High-Yield Cash Account, a Bond Account and an API.

Does Public offer ETFs?

Yes. Public offers ETFs, with $0 regular market-hours trades for US-listed stocks and ETFs in self-directed individual cash brokerage accounts.

Does Public offer crypto?

Yes. Public offers crypto trading with 40+ assets, including Bitcoin, Ethereum and Dogecoin. Crypto services are provided by Zero Hash LLC, and crypto assets are not FDIC or SIPC insured.

Does Public offer options?

Yes. Public offers stock, ETF and index options. Stock and ETF options are listed at $0, while index options cost $0.50 per contract for regular users and $0.35 per contract for Premium members.

Does Public have a mobile app?

Yes. Public describes trades placed through its mobile app or website as the Public Platform.

Does Public offer margin?

Yes. Public offers margin investing through Public Investing. Listed margin rates range from 4.90% for balances up to $50,000 to 4.25% for balances from $1 million up to $10 million.

Does Public have an API?

Yes. Public offers an API for programmatic trading, real-time market data and automated trading.

What is Public's Premium subscription fee?

Public Premium costs $10 monthly or $96 annually. The Premium subscription fee is waived for accounts over $50,000.

Bottom line

Public suits active investors who want stocks, ETFs, options, bonds, crypto, margin and API access in one platform. It may be less suitable for users who want to avoid transfer fees, inactivity fees, or unprotected crypto exposure.

Public

Active investors who want options rebates and API access

Open Account

Your capital is at risk. Other fees apply.