Public
public.com
A commission-free US brokerage that pays a per-contract rebate on stock and ETF options, and also offers bonds, Treasuries, crypto, IRAs and a trading API.
What it is
Public is a US brokerage for stocks, ETFs, options, bonds, Treasuries and crypto, with taxable, margin and IRA accounts. Its distinguishing feature for options traders is the rebate: instead of charging per contract on stock and ETF options, Public pays you between $0.06 and $0.18 per contract depending on your monthly volume. Index options such as SPX, NDX and VIX are not rebated and carry a fee of $0.35 to $0.50 per contract.
The rebate tier is set by how many contracts you trade in a month: $0.06 below 1,000, $0.10 up to 4,999, $0.14 up to 9,999 and $0.18 from 10,000. Once reached, the rate holds for the rest of that month and the next. Rebates are lower on QQQ, SPY and IWM and on contracts placed through the API, where the rate is $0.06 up to 9,999 contracts and $0.10 above.
Beyond options, Public offers multi-leg strategies from covered calls to condors, a strategy builder, a queue for planning several orders and a rolling tool, plus AI-written market briefings and earnings summaries. Accounts are held by Open to the Public Investing, a FINRA and SIPC member, with Apex Clearing as the clearing firm. Crypto is custodied by Zero Hash rather than Public, is not SIPC-protected and may not be available in every state.
Key features
- Options rebates
- $0.06 to $0.18 per stock or ETF option contract by monthly volume; reduced on QQQ, SPY, IWM and API orders.
- Options tools
- Customisable chain, strategy builder for spreads, straddles, butterflies and condors, an order queue and a rolling tool.
- Bonds and Treasuries
- Individual corporate bonds and US Treasuries alongside stocks; Public earns a fee on bond trades.
- Trading API
- Programmatic trading with real-time market data; API options orders still earn a rebate at a lower rate.
- Crypto
- More than 60 crypto assets, custodied by Zero Hash and not covered by SIPC or FDIC.
- AI research tools
- AI-generated market briefings, earnings call summaries, explanations of price moves and a research assistant.
- Retirement accounts
- Traditional and Roth IRAs with a 1% match advertised, plus a crypto IRA.
Pricing
| Plan | Price | What you get |
|---|---|---|
| Stocks and ETFs | $0 | No commission |
| Stock and ETF options | $0 commission | Rebate of $0.06 to $0.18 per contract paid to you, by monthly volume |
| Index options | $0.35–$0.50/contract | NDX, SPX, VIX and similar; no rebate |
Public earns a fee on bond trades; see its fee schedule for bond, crypto and account fees. Margin was advertised from a 5.15% base rate when checked.
Free option: Opening an account and trading stocks, ETFs and stock or ETF options is commission-free; there is no subscription to buy.
Checked September 25, 2026 on public.com. Prices change; confirm on the provider's site before you subscribe.
Strengths
- Paid rebates on stock and ETF options rather than per-contract fees
- Bonds and Treasuries in the same account as stocks and options
- A trading API that keeps options rebates
- Multi-leg strategies and a rolling tool built into the app
Limitations
- Index options (SPX, NDX, VIX) cost $0.35 to $0.50 per contract and earn no rebate
- Rebates are reduced on QQQ, SPY and IWM, often the most traded option underlyings
- Crypto is held by Zero Hash, is not SIPC-protected and may not be available in every state
- No futures or forex trading
Good fit for
- Options traders on single stocks and ETFs who want rebates instead of fees
- Investors who want bonds and Treasuries next to stocks in one account
- Developers who want to trade options through an API
Look elsewhere if
- SPX and other index options traders, who pay fees and earn no rebate
- Futures traders
Compare
Alternatives to Public
Public questions
How does the Public options rebate work?
Public pays $0.06 to $0.18 per stock or ETF option contract, depending on your monthly volume. The rebate is lower on QQQ, SPY, IWM and API orders.
Does Public charge for SPX options?
Yes. Index options such as SPX, NDX and VIX cost $0.35 to $0.50 per contract and do not earn the rebate.
Is Public a real brokerage?
Yes. Brokerage accounts are with Open to the Public Investing, a registered broker-dealer and FINRA and SIPC member, with Apex Clearing as the clearing firm.
Does Public have an API?
Yes. The Public API supports programmatic trading with real-time data, and options traded through it earn a rebate of $0.06 to $0.10 per contract.
Written from Public's own website and documentation. All Trading Tools lists and compares tools; it does not recommend trades or give financial advice. Sources: public.com, public.com/options, public.com/crypto, public.com/disclosures/fee-schedule.