Are you trying to decide between Public and Robinhood for your investment portfolio? The choice of a brokerage platform can significantly impact your financial journey, affecting everything from the assets you can trade to the fees you pay. In this comparison of public vs robinhood, we analyze both platforms to help you determine which app best matches your investing style.
Both platforms pioneered commission-free trading for retail investors, but they have evolved in vastly different directions. Robinhood has doubled down on active trading, options, and retirement incentives, while Public has positioned itself as a multi-asset platform with a strong focus on community, educational content, and alternative investments. Whether you are a long-term investor looking for passive growth or an active trader seeking advanced tools, understanding the nuances of these two fintech giants is essential.
Core Platform Philosophies and Business Models
To understand the differences between these platforms, we must look at how each platform operates and generates revenue. Robinhood, launched in 2013, revolutionized the brokerage industry by introducing zero-commission stock trading. It relies heavily on Payment for Order Flow (PFOF) to generate revenue. In a PFOF model, a brokerage sends user orders to market makers rather than directly to public exchanges, receiving a small fee in return. This model has drawn regulatory scrutiny from the U.S. Securities and Exchange Commission but allows Robinhood to offer low-cost trading, high interest rates on cash, and robust margin trading features.
Public.com launched in 2019 with a different approach. In 2021, Public made a major structural shift by routing equities orders directly to exchanges rather than relying on PFOF for stock trades. Instead, Public introduced an optional tipping model for trades and later launched its Public Premium subscription. By rejecting PFOF for equities, Public aims to offer greater execution transparency. However, it is important to note that Public still utilizes revenue-sharing models for options trading and cryptocurrency transactions.
Asset Classes and Investment Options
When comparing the investment options of public vs robinhood, the platforms cater to distinct investor profiles. Robinhood focuses primarily on traditional liquid assets and derivatives, whereas Public has evolved into a multi-asset platform offering access to alternative investments.
Robinhood Asset Selection
Robinhood’s investment catalog is optimized for liquidity and active trading. Users can access:
- Stocks and ETFs: Over 5,000 US-listed equities with fractional share trading starting at $1.
- Options Trading: Robinhood is highly popular for commission-free options trading, offering clean interfaces for multi-leg strategies and zero contract fees.
- Cryptocurrency: Direct trading of major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) with competitive spreads.
- 24-Hour Market: Robinhood allows trading of select stocks and ETFs 24 hours a day, five days a week, providing flexibility for global market events.
Public.com Asset Selection
Public has built an ecosystem around asset diversification, allowing users to build a portfolio of traditional and alternative assets in one place:
- Stocks and ETFs: Full access to US-listed equities with fractional shares.
- US Treasury Bills: Investors can purchase T-bills directly through the app, offering yields backed by the US government with a low minimum entry point.
- Alternative Assets: Public allows fractional investment in alternative assets like fine art, rare collectibles, and music royalties (e.g., rights to royalties from major artists).
- Corporate and Municipal Bonds: Public allows users to buy fractional bonds, making fixed-income investing accessible with lower capital requirements.
- Cryptocurrency: Over 25 cryptocurrencies are available for trading, executed via partner infrastructure.
Retirement Accounts and Cash Management
The type of account you want to open is a major deciding factor when choosing a brokerage. Robinhood stands out significantly for retirement savers, while Public focuses on short-term yield generation.
Robinhood Retirement and Matching
Robinhood offers Individual Brokerage Accounts, Traditional IRAs, and Roth IRAs. What makes Robinhood particularly compelling for long-term savers is its IRA matching program:
- Standard Match: Robinhood offers a 1% match on eligible IRA contributions for standard users.
- Gold Match: Robinhood Gold subscribers receive a 3% match on IRA contributions (subject to keeping the subscription active and holding the assets for at least five years).
This matching program is unique in the retail brokerage space and can add hundreds of dollars annually to a user’s retirement portfolio.
Public.com Yield and Cash Management
Public does not offer specialized tax-advantaged retirement accounts with contribution matches. Instead, Public focuses on high-yield cash products:
- High-Yield Cash Account: Public offers a competitive yield on uninvested cash, fully integrated into the brokerage account.
- Treasury Accounts: Users can lock in yields by buying Treasury bills, which are state and local tax-exempt, providing an efficient cash-parking tool during high-interest-rate environments.
Fees, Subscriptions, and Premium Tiers
Robinhood Gold
For $5 per month (or $50 annually), Robinhood Gold unlocks several advanced features:
- Higher Interest on Cash: Up to 5.0% APY on uninvested cash (rates fluctuate based on Federal Reserve policy).
- 3% IRA Match: Increases the retirement contribution match from 1% to 3%.
- Professional Research: Access to Morningstar research reports and Level II market data.
- Larger Instant Deposits: Up to $50,000 instant access depending on account status.
- Margin Trading: Access to lower margin rates compared to standard accounts.
Public Premium
For $10 per month (or $96 annually), Public Premium provides tools focused on deep fundamental analysis:
- Advanced Portfolio Analysis: In-depth metrics, asset allocation breakdowns, and performance tracking.
- Morningstar Research: Institutional-grade equity research and fair value estimates.
- Extended Hours Trading: Access to pre-market and after-hours trading.
- Custom Investment Lists: Ability to organize and share custom watchlists and portfolios.
- Exclusive Content: Premium members receive priority access to educational events and market analysis.
User Experience, Mobile App, and Interface
The design philosophies of both apps reflect their target audiences. Robinhood’s interface is famously clean, minimalist, and designed for fast execution. It is highly optimized for mobile devices, making it easy to check prices and execute trades on the go. However, this simplicity has historically drawn criticism for “gamifying” investing. Robinhood has since added more educational resources, but the core experience remains highly focused on rapid, active trading.
Public offers a social-first experience. The home feed resembles a social network where users can share their portfolios (in percentages, not dollar amounts), write posts, and discuss market news. This community aspect makes Public highly appealing to beginners who want to learn from other investors. Public also features “Town Halls” where users can submit questions directly to executives of public companies, bridging the gap between retail investors and corporate leadership.
Public vs Robinhood: Feature Comparison Table
To help you visualize the core differences, here is a direct comparison of their main features:
| Feature | Robinhood | Public.com |
|---|---|---|
| Equities Commission | $0 | $0 (optional tipping) |
| Options Trading | Yes ($0 contract fees) | Yes (revenue share applies) |
| Alternative Assets | No | Yes (Art, Royalties, Collectibles) |
| Retirement Accounts (IRAs) | Yes (with 1% to 3% match) | No (primarily taxable brokerage) |
| Treasury Bills & Bonds | No (ETFs only) | Yes (direct T-Bill and Bond access) |
| Premium Subscription | $5/month (Robinhood Gold) | $10/month (Public Premium) |
| Social Community Feed | No | Yes (built-in social network) |
Security, Regulation, and Platform Safety
Both platforms are safe and highly regulated financial institutions. They are members of the Securities Investor Protection Corporation (SIPC), which protects customer accounts up to $500,000 (including $250,000 for cash claims) in the event of brokerage failure.
- Robinhood Financial LLC is a registered broker-dealer regulated by the SEC and FINRA.
- Public.com executes its trades through member clearing firms like Apex Clearing and is also fully regulated by the SEC and FINRA.
- Cryptocurrency held on either platform is not protected by SIPC insurance, which is standard across the industry as crypto assets are not covered under traditional brokerage protections. Users should evaluate the security of digital assets independently.
Conclusion and Final Recommendation
When deciding between public vs robinhood, the best platform depends entirely on your investment strategy and the assets you want to hold.
Choose Robinhood if:
- You want to maximize your retirement savings with an IRA match.
- You are an active trader looking for commission-free options trading and margin accounts.
- You want to earn a high yield on uninvested cash through an affordable premium subscription ($5/month).
Choose Public if:
- You want a diversified portfolio that includes alternative assets, music royalties, and Treasury bills alongside stocks.
- You enjoy a social, community-driven approach to investing where you can discuss ideas with other investors.
- You prefer a brokerage that rejects Payment for Order Flow (PFOF) on equities for greater execution transparency.
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Pros & Cons
Public.com
✅ Pros
- Access to alternative assets like music royalties and fine art
- Direct purchases of US Treasury bills and fractional bonds
- Social feed with verified investor holdings and executive Q&As
- Zero Payment for Order Flow (PFOF) on equities trades
❌ Cons
- No retirement accounts (IRAs) with contribution matches
- Higher premium tier cost at $10 per month
- Crypto trading executed via third-party partner Apex Crypto
Robinhood
✅ Pros
- Up to 3% match on IRA contributions with Robinhood Gold
- Robust, low-cost options trading platform with zero contract fees
- Highly competitive margin rates for active traders
- 24-Hour Market access for select stocks and ETFs
❌ Cons
- Relies heavily on Payment for Order Flow (PFOF) for revenue
- No direct access to bonds, Treasury bills, or alternative assets
- Historically criticized for gamified user interface elements
Pricing Comparison
Robinhood Standard
- Zero-commission stocks, ETFs, and options
- 1% IRA contribution match
- Standard cash sweep yield
Robinhood Gold
- 3% IRA contribution match
- Up to 5.0% APY on uninvested cash
- Professional Morningstar research and Level II data
Public Standard
- Zero-commission stocks and ETFs
- Access to alternative assets and Treasury bills
- Community social feed
Public Premium
- Advanced portfolio analysis and Morningstar research
- Extended hours trading
- Custom investment lists and exclusive content
Frequently Asked Questions
Is Public safer than Robinhood?
Both Public and Robinhood are safe, regulated brokerages. They are registered with the SEC and are members of the SIPC, protecting securities accounts up to $500,000. However, cryptocurrency holdings on both platforms are not covered by SIPC insurance.
Does Public use PFOF?
Public does not use Payment for Order Flow (PFOF) for equities (stocks and ETFs) and instead routes these trades directly to exchanges. However, Public still utilizes revenue-sharing models for options and cryptocurrency transactions.
Can you transfer from Robinhood to Public?
Yes, you can transfer your portfolio from Robinhood to Public using the Automated Customer Account Transfer Service (ACATS). Public often offers promotions to cover any outbound transfer fees charged by Robinhood.
Does Robinhood offer Treasury bills?
Robinhood does not offer direct purchases of US Treasury bills. However, Robinhood users can trade Treasury-focused ETFs. Public allows users to buy Treasury bills directly inside the app.