Public.com Review 2026: Is the 5%+ Bond Account Worth It?
Public.com started as a social investing app where you could watch what other people were buying. In 2026 it’s a very different product: a multi-asset brokerage built around yield. Stocks and ETFs trade for free, options actually pay you a rebate, and the app now leans hard on three income products — a high-yield cash account, a Treasury account, and a Bond Account targeting 5%+. This Public.com review 2026 walks through what the account really costs, where it beats the competition, and where it falls short.
Public is a member of FINRA and SIPC, so brokerage assets carry the standard $500,000 of SIPC protection. That matters when an app is pitching yield — you want to know the plumbing is regulated before you move money in.
What Is Public.com?
Public.com is a commission-free investing app for stocks, ETFs, options, bonds, Treasuries, and crypto, aimed at self-directed investors who care about fees and yield. It’s best for someone who wants a single account to hold long-term equity positions and park cash at a competitive rate, rather than juggling a brokerage plus a separate savings app. If you want hand-holding or a human advisor, a robo-advisor is a better fit — Public assumes you’re driving.
Key Features
Free stock and ETF trading with fractional shares
Stock and ETF trades are $0 commission, and Public supports fractional shares, so you can buy $5 of a $500 stock. That’s table stakes in 2026, but Public executes it cleanly and the interface is genuinely nice to use for building a diversified portfolio on a small budget.
Options that pay you to trade
Options trades are $0 per contract — no per-contract fee, which already beats most brokers that charge around $0.65 a contract. Public goes further with an Options Rebate Program that pays $0.06 to $0.18 back per contract when you enroll. It’s the only major broker structured to hand money back on options volume, which adds up fast if you trade frequently.
High-Yield Cash Account
The High-Yield Cash Account pays up to 3.3% APY as of June 11, 2026. There’s no subscription required, no minimum balance, and no fee to open or maintain it, and balances are eligible for up to $5 million in FDIC insurance through partner banks. Rates move with the Fed, so check the live number before you count on it, but the structure — no minimum, no lockup, sweep-style access — is one of the cleanest cash options attached to a brokerage right now.
Bond Account and Treasuries
The Bond Account has a $1,000 minimum and targets a 5%+ yield through a diversified mix of investment-grade and high-yield corporate bonds — a way to lock in a rate without hand-picking individual issues. Separately, the Treasury account lets you buy short-term T-Bills with as little as $100, and Treasury income is exempt from state and local tax. The Treasury account charges a flat 0.05% per month on the average daily balance, and Public says its Treasury commissions run less than half the industry average.
Retirement accounts with a match
Public offers IRAs with an ongoing 1% match on contributions — for example, max out the $7,500 2026 limit and you get an extra $75. A match on an IRA is rare outside of an employer 401(k). Public has also run a limited-time 1% match on IRA transfers and 401(k) rollovers (uncapped, so a $50,000 rollover would add $500), but that promo’s most recent published expiration was May 31, 2026, so check Public’s current offer page before assuming it still applies. Either match requires the funds to stay in the account for five years or the reward can be forfeited.
Direct indexing for tax-loss harvesting
Direct indexing lets you own the individual components of an index instead of a single fund, which makes automated tax-loss harvesting possible. Public’s version has a $1,000 minimum and a 0.19% annual management fee, and it scans your holdings for losers to harvest. It won’t matter in a tax-advantaged account, but in a taxable one it can quietly lower your bill.
Pricing
Most of Public is free to use. The costs to know about are the optional Premium tier and a handful of edge-case fees. Public Premium runs $10/mo (billed every 30 days) or $96/year, and it’s waived entirely if you keep a $50,000 balance. Premium adds Morningstar analyst reports, deeper company metrics and KPIs, extended-hours trading, and fee-free OTC trades.
| Item | Cost |
|---|---|
| Stock & ETF trades | $0 |
| Options per contract | $0 (up to $0.18 rebate) |
| High-Yield Cash Account | Free, up to 3.3% APY |
| Treasury account | 0.05%/mo on balance |
| Direct indexing | 0.19%/yr, $1,000 min |
| Bond Account maintenance | $3.99/mo (free with Premium) |
| Public Premium | $10/mo or $96/yr (free at $50k) |
| Instant withdrawal | 3.5% (min $1) |
| Inactivity fee | $3.99/mo (see terms) |
Two fees deserve a flag. Instant withdrawals cost 3.5% of the amount, minimum $1 — steep, so use the free standard transfer unless you truly need the cash today. And there’s a $3.99 monthly inactivity fee that applies to accounts with no activity for six months and a balance under $70. It won’t hit an active investor, but a dormant account with a few dollars in it can get nickel-and-dimed.
Pros and Cons
What We Like
- Free stock/ETF trades plus an options rebate that actually pays you
- Strong cash-yield stack: high-yield cash, Treasuries, and a 5%+ Bond Account
- 1% IRA match on contributions and transfers — rare for a brokerage
- Premium is genuinely free once you hold $50,000
- SIPC-protected and FDIC coverage on cash up to $5 million
What Could Be Better
- 3.5% instant-withdrawal fee is high versus peers
- $3.99 inactivity fee can bite small, dormant accounts
- Bond Account and direct indexing both require $1,000 to start, and the Bond Account carries its own $3.99/mo fee unless you have Premium
- No mutual funds, and no full-service advisory
- Cash APY moves with rates — the headline number won’t last forever
Who Should Use Public.com?
Public fits a few clear profiles. The yield-focused saver who wants brokerage cash earning 3%+ without opening a separate bank account gets a lot here. The active options trader benefits directly from the $0 contracts plus rebate — that’s a measurable edge over Robinhood or Fidelity on high volume. And the IRA consolidator moving an old 401(k) can pocket the ongoing 1% contribution match every year, plus the transfer match when Public is running it — few competitors offer either.
It’s a weaker fit if you want mutual funds, a managed portfolio, or a lot of research hand-holding without paying for Premium. If you’re brand new to investing and want automation, compare Public against the robo-advisors and beginner apps in our roundup of the best finance apps before you commit.
Public.com vs Robinhood
Robinhood is the obvious alternative, and the two overlap heavily. The short version: Robinhood has a slicker trading experience and a broader crypto lineup, while Public leans harder into fixed income and yield.
| Feature | Public.com | Robinhood |
|---|---|---|
| Stock/ETF trades | $0 | $0 |
| Options fee | $0 + rebate | $0 |
| Bond Account | Yes, 5%+ target | No |
| IRA match | 1% | 1-3% (Gold) |
| Premium tier | $10/mo (free at $50k) | $5/mo (Gold) |
Choose Public if fixed income and yield are central to your plan. Choose Robinhood if you want the smoothest pure-trading app and a cheaper always-on premium tier. For deeper side-by-sides across brokerages, browse the reviews on the Smart Money Picks homepage.
Our Verdict
Public has grown into one of the more complete free brokerages available, and the yield products are the reason to pay attention. The combination of $0 stock trades, an options rebate, a no-minimum high-yield cash account, and a 5%+ Bond Account is hard to match in a single app, and the 1% IRA match sweetens a rollover. The catches are real but avoidable: skip instant withdrawals, keep the account active, and treat the headline cash APY as a moving target.
If you want free trading plus a place to earn on idle cash without opening five accounts, Public earns a spot on your shortlist. If you’re still comparing options, our guide to the best finance apps of 2026 puts it head to head with the rest.
FAQ
Is Public.com legit and safe? Yes. Public is a FINRA member and SIPC insured, so eligible brokerage assets are protected up to $500,000, and cash-account balances carry FDIC coverage through partner banks up to $5 million.
Does Public.com charge fees? Core trading is free. The costs to watch are Public Premium ($10/mo or $96/yr, waived at a $50,000 balance), a 3.5% instant-withdrawal fee, a small Treasury account fee, and a $3.99 inactivity fee on dormant low-balance accounts.
What yield does the Public.com cash account pay? Up to 3.3% APY as of June 11, 2026, with no minimum and no subscription. The rate floats with the Fed, so confirm the live figure in the app.
Is the Public.com Bond Account worth it? If you want a diversified 5%+ target yield without picking individual bonds, it’s a reasonable option — just note the $1,000 minimum and that yields aren’t guaranteed.
Want to go deeper on the mechanics of bonds and index funds? A classic like The Simple Path to Wealth pairs well with a yield-focused account like Public’s.
Disclosure: Smart Money Picks may earn a commission from links on this page, including as an Amazon Associate, at no extra cost to you. This article is for informational purposes only and is not financial advice. Rates, fees, and features are current as of July 2026 and can change — verify details with Public.com before investing.
