M1 Finance and Public.com have emerged as two of the most popular commission-free investing apps, each with unique features and generous referral programs. In 2026, both platforms continue to offer enticing bonuses for inviting friends, but which one gives you—and your friends—the better deal?
This comprehensive comparison breaks down every detail of the M1 Finance and Public.com referral programs: bonus amounts, requirements, payout timelines, fine print, and real-world earning potential. Whether you're an active investor looking to offset fees or a casual user wanting to earn extra stock, we'll help you decide which referral program deserves a spot in your strategy.
➡️ Read next (recommended)
📋 Table of Contents
- 1. M1 Finance vs Public.com: Quick Overview
- 2. Referral Bonus Details
- 3. Side-by-Side Comparison
- 4. Which Referral Program Fits You?
- 5. How to Claim M1 Finance Referral Bonus
- 6. How to Claim Public.com Referral Bonus
- 7. Can You Stack With Other Bonuses?
- 8. Real-World Earnings Potential
- 9. Frequently Asked Questions
M1 Finance vs Public.com: Quick Overview
M1 Finance
Hybrid Robo-AdvisorM1 Finance combines automated investing with full control. You create a portfolio of stocks and ETFs (called "Pies"), and M1 automatically invests deposits according to your target percentages. It's ideal for long-term, hands-off investors who want customization without active trading. M1 also offers checking accounts and borrowing features.
Public.com
Social InvestingPublic.com is a commission-free investing app with a social twist. You can see what others are buying, share investment ideas, and discuss stocks. Public offers fractional shares, thematic investing, and a unique "Treasury" account for high-yield cash. It's designed for community-minded investors who enjoy learning from others.
Referral Bonus Details
M1 Finance Referral Program (2026)
M1 Finance’s referral program rewards both the referrer and the new user. As of 2026, the standard offer is:
- Bonus for referrer: $50 after the friend funds their account with at least $500.
- Bonus for new user: $50 after funding with $500.
- Requirements: The new account must be opened via a referral link, fund within 30 days, and maintain the deposit for at least 90 days (to prevent churning).
- Payout timing: Typically within 7–10 business days after the holding period.
- Limits: No official cap on referrals, but M1 may review unusual activity.
M1 also occasionally runs promotions where the bonus increases to $75 or $100 for limited periods, often tied to specific deposit thresholds ($1,000+).
Public.com Referral Program (2026)
Public.com’s referral program focuses on free stock rewards. The current structure:
- Bonus for referrer: A free stock worth between $5 and $200 (randomly awarded) after the friend opens an account and funds it with at least $1.
- Bonus for new user: A free stock worth $5–$200 upon funding the account with $1.
- Requirements: Friend must use referral link, open account, and make a minimum deposit of $1 (funding can be via bank transfer). No holding period required, but the stock is usually credited within a few days.
- Stock value distribution: Most new users receive stock in the $5–$15 range; the $200 stock is rare (approx. 1% chance).
- Limits: Unlimited referrals; each successful referral yields a free stock for both parties.
Side-by-Side Comparison: M1 Finance vs Public.com Referral
| Feature | M1 Finance | Public.com |
|---|---|---|
| Referrer Bonus | $50 cash | Free stock ($5–$200) |
| Friend Bonus | $50 cash | Free stock ($5–$200) |
| Minimum Deposit | $500 | $1 |
| Holding Period | 90 days | None (stock credited immediately) |
| Bonus Value Certainty | Fixed $50 | Random (average ~$10–$15) |
| Account Type | Taxable or IRA | Taxable only |
| Referral Limits | Unlimited (reviewed) | Unlimited |
| Payout Speed | After 90-day hold | Within days of funding |
💰 Value Analysis: M1's Guarantee vs Public's Lottery
M1 Finance: You get a guaranteed $50 per referral, but the high deposit requirement ($500) and 90-day lock make it better for serious investors. If your referrals are friends who can afford to park $500 for three months, M1 is a solid earner.
Public.com: Low barrier ($1) and instant gratification, but the stock reward is usually $5–$15. It's great for casual users and mass sharing, but you'll need many more referrals to match M1's $50.
Which Referral Program Fits Your Style?
Choose M1 Finance if:
- You have friends/family who are serious about investing and can deposit $500+.
- You want a predictable, cash bonus that you can actually use (not a random stock you might not want).
- You're already an M1 user and appreciate its long-term investment tools.
- You prefer IRA options (M1 supports both taxable and retirement accounts).
Choose Public.com if:
- You want to share with a wide audience, including those with limited funds ($1 is accessible).
- You enjoy the excitement of a random stock reward (could be a high-value surprise).
- You're active on social media and can drive many small referrals.
- You value instant gratification over waiting 90 days.
How to Claim the M1 Finance Referral Bonus (Step-by-Step)
- Get your referral link: Log into your M1 account, go to Settings → Refer a Friend, and copy your unique link.
- Share the link: Send it to friends via text, email, or social media. Make sure they understand the $500 deposit requirement.
- Friend signs up: They click your link, create an M1 account, and complete identity verification.
- Fund the account: They must deposit at least $500 within 30 days of opening. The deposit can be via bank transfer (ACH) and can be in a taxable account or IRA.
- Hold period: The $500 must remain in the account (trading is allowed, but net deposit must stay ≥$500) for 90 days.
- Bonus credited: After 90 days, M1 automatically adds $50 to both your account and your friend's account. You'll receive an email notification.
💡 Pro Tip
Encourage your friend to fund with more than $500 to avoid accidental dips below the threshold due to market losses. They can also invest the money immediately; the requirement is just to maintain a $500 net deposit, not necessarily cash.
How to Claim the Public.com Referral Bonus (Step-by-Step)
- Get your referral link: Open the Public app, go to Profile → Refer Friends, and copy your link.
- Share your link: Post on social media, send to friends, or include in emails. Emphasize the low $1 entry barrier.
- Friend downloads Public: They install the app and sign up using your link. They'll need to provide basic info and verify identity.
- Fund with $1: They link a bank account and deposit at least $1. This can be done via ACH or debit card.
- Receive free stock: Within a few days, both you and your friend will receive a free slice of stock (random). You'll see it in your Public portfolio.
🎲 The Random Factor
The stock you receive could be anything from a $5 fraction of a popular company to a full share worth up to $200. According to 2026 data, the distribution is heavily weighted toward lower values, but some users do get the jackpot.
Can You Stack These Referrals With Other Bonuses?
M1 Finance: Occasionally M1 runs limited-time promotions for new accounts (e.g., $50 bonus for a $500 deposit). These can sometimes be combined with referrals, but read the terms carefully—they may be mutually exclusive. Also, M1's checking account may have separate cash bonuses that can be stacked with investing referral bonuses.
Public.com: Public sometimes offers boosted referral rewards during special events (e.g., double stock week). These promotions usually apply automatically when you share during the promo period. Also, Public has a "Treasury" account with high yield; that's not a referral bonus but can be used concurrently.
General stacking strategy: Both programs allow unlimited referrals, so you can keep earning as long as you bring in new users. There's no limit on total earnings.
Real-World Earnings Potential
Let's crunch some numbers based on realistic referral volumes.
🧮 Referral Earnings Calculator
*Public average based on $12 per referral (weighted average of stock values). Actual results vary.
M1 Finance example: If you refer 5 friends per month and each meets the $500 deposit requirement, you earn $250 per month, plus your friends get $250 total. Over a year, that's $3,000 for you alone.
Public.com example: 5 referrals at average $12 each = $60/month, plus your friends get similar. But with a lower barrier, you might refer 20 friends/month more easily, earning ~$240/month.
🚀 Scaling Tips
- For M1: Target audiences interested in long-term investing, like personal finance communities, FIRE groups, or retirement-focused forums.
- For Public: Use social media (TikTok, Instagram, Twitter) with short videos showing the free stock process. The low entry makes it viral-friendly.
Frequently Asked Questions
M1 Finance and Public.com are currently available only to US residents. Both require a US address and Social Security Number for account opening. Referral bonuses are only available for US users.
M1 Finance: Yes, the $500 deposit must stay in the account for 90 days. If you withdraw below $500 before the 90 days, the bonus may be forfeited.
Public.com: No holding period; once the stock is awarded, it's yours even if you withdraw the $1.
Yes, both cash and stock rewards are considered taxable income by the IRS. M1 will issue a 1099-MISC if you earn $600 or more in a year. Public.com also reports the fair market value of stock received. Consult a tax professional.
No, referrals only work for new users who have never opened an account with the platform before. Existing users cannot be referred again.
Both are beginner-friendly, but Public.com's social feed and lower funding requirement make it more approachable for absolute beginners. M1 is better for those ready to build a long-term portfolio with automation.
Sometimes yes, sometimes no. Check the terms of any current promotion. Generally, if the promotion is specifically for new accounts (like a deposit bonus), it may be separate from the referral program, but some are combinable. When in doubt, ask support.
Which Referral Program Wins in 2026?
The better choice depends on your network and goals. If you can attract friends willing to invest $500 and wait three months, M1 Finance delivers a reliable $50 per referral. For mass appeal with a low barrier, Public.com offers instant rewards and a fun lottery element, but at a lower average value.
Many savvy users participate in both programs, sharing different links depending on the audience. The key is to be transparent about the requirements so your friends don't feel misled. Whichever you choose, these referral programs are a simple way to earn extra cash or stock while introducing others to commission-free investing.