In 2026, choosing the right investment app can feel overwhelming. Two names dominate the conversation: Public and Robinhood. Both pioneered commission-free trading, but they've evolved in very different directions. Public leans into social investing and community, while Robinhood focuses on speed, gamification, and broad asset access. This comprehensive guide compares every angle—fees, features, social tools, payment for order flow, investment options, and safety—so you can decide which platform fits your 2026 goals.
Whether you're a beginner building your first portfolio or an experienced trader exploring new tools, this comparison will help you cut through the noise.
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📋 Table of Contents
- 1. Public vs Robinhood: Quick Overview
- 2. Social Trading Features Deep Dive
- 3. Payment for Order Flow (PFOF) Explained
- 4. Fees, Commissions & Hidden Costs
- 5. Investment Offerings: Stocks, Crypto, ETFs
- 6. User Experience & Mobile Apps
- 7. Account Types: Cash, Margin, IRA
- 8. Pros and Cons Comparison Table
- 9. Which Is Better for Your Investor Profile?
- 10. Safety, Regulation & Insurance
- 11. Top Alternatives (M1, Webull, etc.)
- 12. Frequently Asked Questions
1. Public vs Robinhood: Quick Overview
Robinhood launched in 2013 and disrupted the brokerage industry with zero-commission trades. It now offers stocks, ETFs, options, crypto, and even retirement accounts. Its interface is minimalist and gamified, appealing to active traders. However, it has faced scrutiny over payment for order flow (PFOF) and the GameStop saga.
Public emerged as a “social investing” platform, emphasizing community, education, and transparency. It also offers commission-free trading, but with a strong social feed where users share ideas and portfolios. Public famously rejects payment for order flow and instead relies on optional tipping and a premium subscription (Public Premium).
💡 Key Difference at a Glance
Public = social investing + no PFOF + community focus.
Robinhood = speed + gamification + broad asset access (including options and margin).
2. Social Trading Features Deep Dive
Public's flagship feature is its social feed. You can follow other investors, see their portfolios (if they choose to share), comment on trades, and discover ideas. It's like a hybrid of Twitter and a brokerage. In 2026, Public has refined this with themed communities (e.g., “Tech Investors”, “Dividend Growers”) and live audio rooms where experts discuss market moves.
Robinhood, on the other hand, has a more solitary experience. Its “Feed” shows news and updates from companies you follow, but not social interaction. Robinhood added a limited “Top Movers” and “Popular Stocks” list, but no true community features.
Public's Social Ecosystem
Community-DrivenPublic allows you to:
- Follow investors and view their portfolios (with privacy controls).
- Share your own trades and investment thesis.
- Join “rooms” for live discussions on sectors or themes.
- See aggregated sentiment data on stocks.
📊 Case Study: Community Learning
In 2025, Public users who engaged with the community were 3x more likely to hold diversified portfolios and reported higher confidence in their investment decisions, according to a Public survey.
Robinhood's News Feed
Information-FocusedRobinhood's feed is primarily news and updates:
- Real-time news from top sources.
- Earnings announcements and analyst ratings.
- “List” feature to track curated stocks.
- No direct interaction with other traders.
Robinhood's approach suits traders who want information, not conversation.
3. Payment for Order Flow (PFOF) Explained
Payment for order flow is the practice where brokers send your trades to market makers (like Citadel) and receive a small kickback. Robinhood relies heavily on PFOF, which allows them to offer zero commissions. However, critics argue it creates conflicts of interest: brokers may route orders to the highest bidder rather than getting you the best price.
Public publicly rejects PFOF. Instead, they use a different model: they accept optional tips from users and offer a paid subscription (Public Premium at $10/month) that unlocks features like larger instant deposits and Morningstar ratings. This makes Public one of the few brokers with no PFOF.
| Model | How It Works | Impact on You |
|---|---|---|
| Robinhood (PFOF) | Sends orders to market makers, earns rebates. | Zero commissions; potential for slight price slippage; conflict of interest concerns. |
| Public (No PFOF) | No order flow payments; revenue from tips & Premium. | Zero commissions; potentially better execution; transparent model. |
✅ Why Public's Model Matters in 2026
Regulators have increased scrutiny on PFOF. The SEC proposed rules that could limit or ban the practice. Public's model is future-proof, while Robinhood may need to adapt. For investors who prioritize ethical transparency, Public is the clear winner.
4. Fees, Commissions & Hidden Costs
Both apps offer $0 commissions on stocks and ETFs. Here's where they differ:
- Robinhood: No account fees, but charges Gold subscription ($5/month) for margin and larger instant deposits. Also charges regulatory fees (SEC, FINRA) on sell orders (tiny fractions). Options trades have contract fees ($0).
- Public: No commissions, no PFOF. Optional Public Premium ($10/month) includes Morningstar ratings, level II quotes, and bigger instant deposits. No regulatory fees passed to users (Public covers them).
Both offer free instant deposits up to certain limits (Robinhood $1,000, Public $1,000 without Premium).
5. Investment Offerings: Stocks, Crypto, ETFs
Robinhood offers a wider range: stocks, ETFs, options, and cryptocurrency (Bitcoin, Ethereum, Dogecoin, etc.). It also provides fractional shares (called “Fractional Shares”) and recurring investments.
Public offers stocks, ETFs, and fractional shares. It also has a growing selection of crypto (BTC, ETH, and several altcoins) but fewer than Robinhood. Public does not offer options trading, which may disappoint active traders.
| Asset Class | Robinhood | Public |
|---|---|---|
| Stocks/ETFs | ✅ | ✅ |
| Fractional Shares | ✅ | ✅ |
| Options | ✅ | ❌ |
| Crypto | ✅ (10+ coins) | ✅ (5-7 major coins) |
| Margin Trading | ✅ (Gold) | ❌ |
| IRAs | ✅ (Traditional & Roth) | ❌ (only taxable accounts) |
6. User Experience & Mobile Apps
Robinhood's app is famously clean and fast. It uses bright colors, simple charts, and a minimalist design. However, critics say it encourages impulsive trading (gamification). The app is available on iOS and Android with a decent web platform.
Public's app is also intuitive but with a distinct social tab. The design feels more educational, with explanations of terms and risk warnings. Public's web version is less developed but functional.
7. Account Types: Cash, Margin, IRA
Robinhood offers individual taxable accounts, Roth IRAs, and Traditional IRAs. With Robinhood Gold, you can trade on margin (borrow against your holdings).
Public currently only offers individual taxable accounts. No IRAs, no margin. This limits long-term retirement savers.
8. Pros and Cons Comparison Table
| Category | Robinhood | Public |
|---|---|---|
| Pros | Broad asset selection (options, crypto, IRAs) Fast, intuitive interface Margin available Recurring investments |
No PFOF (ethical model) Strong social community Educational vibe Covers regulatory fees |
| Cons | Relies on PFOF (conflict of interest) Gamification may encourage overtrading Limited customer support |
No options or IRAs Fewer crypto choices Social feed may be distracting for some Premium subscription relatively pricey |
9. Which Is Better for Your Investor Profile?
For Beginners & Long-Term Investors
Public wins for beginners. The social feed helps you learn from others, and the lack of PFOF aligns with a “buy and hold” philosophy. The absence of options and margin removes temptation for risky trades.
For Active Traders & Options Players
Robinhood is better if you trade frequently, use options, or want crypto variety. Its margin and faster execution cater to active strategies. Just be aware of PFOF and the gamified interface.
10. Safety, Regulation & Insurance
Both are regulated by the SEC and FINRA. Customer accounts are protected by SIPC up to $500,000 (including $250,000 cash). Neither is FDIC insured (but cash swept to partner banks may have FDIC).
Robinhood has faced regulatory fines (e.g., $70M from FINRA for outages and misleading info) and scrutiny during the GameStop frenzy. Public has maintained a cleaner regulatory record, partly due to its simpler product and transparency stance.
11. Top Alternatives (M1, Webull, etc.)
If neither fits, consider these:
- M1 Finance – Best for automated investing and pies. Also no PFOF.
- Webull – Advanced charting, options, and crypto. Uses PFOF.
- Acorns – Micro-investing and round-ups, great for passive savers.
- Coinbase – If crypto is your primary focus.
12. Frequently Asked Questions
Yes. Public generates revenue through Public Premium subscriptions and optional user tips. They also earn interest on cash balances and may have arrangements with banks for FDIC sweep programs. They publicly disclose they do not accept payment for order flow.
Robinhood is a regulated broker-dealer and member SIPC, so accounts are insured. However, they have paid significant fines for operational and disclosure failures. For most users, funds are safe, but you should be aware of the platform's history and consider your risk tolerance.
Yes, both support ACAT transfers. Public may reimburse transfer fees (typically $75) if you transfer a minimum amount. Check current promotions. Note that options positions cannot be transferred to Public because they don't support options.
Robinhood offers more coins (including Dogecoin, Shiba Inu) and has a simpler crypto trading experience. Public offers fewer coins but with educational content. For serious crypto traders, dedicated exchanges like Coinbase or Gemini may be better.
Yes! Public occasionally runs referral promotions where you and a friend can get a free stock slice (e.g., $5–$20) when they fund an account. Check the app for current offers. Robinhood also has a referral program (free stock).
Public vs Robinhood: Final Verdict for 2026
Choosing between Public and Robinhood ultimately depends on your investing style and values. If you value community, transparency, and education, and you're a long-term investor, Public is the clear winner. Its no-PFOF model aligns with your interests, and the social feed can help you learn.
If you're an active trader who needs options, margin, or a wide crypto selection, Robinhood's broader feature set is appealing—just be mindful of the PFOF trade-offs and gamified interface.
Both apps are free to start, so you can try them and see which feels right. And remember, you're not limited to one—many investors use multiple platforms for different purposes.