Public vs. Robinhood: Which Broker Is Right for You?

Robinhood and Public both offer fractional share trading, have no account minimums, and charge no commissions for buying stocks or ETFs. So how can you decide between Public vs. Robinhood? Let's take a look at some of the key differences between what each of these brokerage firms offers so you can pick which is best for you.

Neither Public nor Robinhood charge commissions or fees for trading stocks or ETFs. However, while Robinhood does not impose a markup on cryptocurrency, Public does. The markup is between 1% and 2%. This ends up effectively reducing the amount of cryptocurrency you purchase with each transaction. The different approaches to crypto markups could make Robinhood Crypto a better choice for buying virtual coins.

Both brokers are some of the best options trading platforms. Neither charges commission fees, and Public recently started sharing options revenue with customers. That means customers can earn an estimated $0.18 rebate per commission-free trade. (Public doesn't charge fees for options trading, but regulators do.)

Both Robinhood and Public allow users to trade stocks and ETFs, as well as buy fractional shares. Recently, Public added bonds to the list, including federal and corporate. It also offers alternative investment options, including art and NFTs, for interested investors.

One unique feature Public offers that Robinhood doesn't is its social trading platform. You can follow the portfolio of fellow community members, monitor a news feed to see what others are trading and why, and participate in group chats and community discussions about trading opportunities. This can help those without a lot of investing experience to learn from their peers.

If you're looking for the best robo-advisors, though, neither Robinhood nor Public provides automated investing services so you'll have to look elsewhere.

Robinhood offers slightly more account types than Public. You can open a taxable brokerage account with either trading platform. But you can only open a traditional or Roth IRA on Robinhood -- in fact, it's one of the best brokers for IRAs. Neither broker offers custodial accounts or other IRAs. For those, you'll want to check out a full-service brokerage.

Both Public and Robinhood are focused heavily on their mobile apps. Their apps actually offer a better user interface and more features than their websites. This mobile-first focus has paid off in the form of user friendly, highly rated investing apps. In fact, Robinhood's app received a 4.2 out of 5-star rating on the iOS store, and Public's app received a 4.7-star rating.

Since Public is primarily a social investing platform, its app offers features that Robinhood's app doesn't. This includes a focus on community groups and the ability to follow other users' portfolios. However, neither Robinhood nor Public offer the type of advanced trading features many experienced investors would prefer, such as comprehensive charting tools.

Robinhood and Public are both top choices for those looking for a mobile trading experience or for apps that cater to beginner investors. Public stands apart due to the community aspect of its trading platform. If you want to invest socially, or trade bonds, or invest in collectibles, Public may be a better fit. If you'd like to trade crypto cheaply or open IRAs, Robinhood may be the right choice for you.

Both are discount brokers. Check out alternatives if neither Public nor Robinhood meets your needs. Some offer all-in-one options, including bank accounts and credit cards.