M1 Finance vs Public.com Comparison: Fees, Features, and More (2026)

M1 Finance and Public.com are two leading discount brokerages offering commission-free stock and ETF trading. Use this head-to-head comparison table to evaluate fees, features, trading tools, and account options to help you decide which broker is right for you in 2026.

Head-to-Head Comparison: M1 Finance vs Public.com (2026)
Feature M1 Finance Public.com
Website https://www.m1finance.com/ https://www.public.com/
Broker Type Self-directed discount brokerage Discount (self-directed online retail brokerage)
Trading: Stock & ETF? Yes Yes
ETF & Stock commission $0 commission; $3/mo platform fee if assets <$10k (waived at $10k+ or with loan) $0 regular hours (US-listed); $2.99 extended/OTC (waived for Premium)
Fractional Shares? Yes (to 1/100,000th of a share) Yes ($5 min outside plans; $1 in Investment Plans)
Percent Allocations? Yes (M1 Pies with custom target % allocations) Yes (Investment Plans: custom 1% allocations; Direct Indexing weighting)
Crypto Trading? Yes (Bakkt Crypto Account; BTC, ETH, LTC; US 18+) Yes (via zerohash; 60+ assets including BTC/ETH; 24/7; $1 min).
Crypto Fees Bakkt 1% (100 bps) on buys/sells (in exec. price); M1 $0 commission zerohash: $0.49–$6.29 (≤$500); 1.25% (>$500). Recurring plans 1.25%. API volume-tiered (0.10–0.60%).
Options Trading? No Yes (stock, ETF, and index options; multi-leg strategies).
Options Fee N/A $0 commission/per-contract for stock/ETF options plus $0.06–$0.18 rebate/contract. Index: $0.35–$0.50/contract. Regulatory fees apply.
Bond Trading Available? No Yes (fractional Treasury/corporate from $100; Bond Account; municipals coming soon).
Receives payment for order flow (PFOF)? Yes (receives PFOF ~$0.002/share) Yes (receives PFOF on options and wholesale equity routing).
Interface: Web trading? Yes (web m1.com and iOS/Android apps) Yes (full web platform plus iOS/Android apps).
Desktop trading? No No. Web platform and mobile apps only; no native downloadable desktop trading software.
API Trading? No Yes. Public Trading API (stocks, ETFs, options, crypto, bonds) available to all members; no approval required.
Mutual Funds: Offered? No No
Total Mutual Funds None None
NTF Mutual Funds None None
Non-NTF Fund Fee N/A N/A
Early Redemption Fee? N/A N/A
Redemption Hold (Days) N/A N/A
Early Redemption Fee N/A N/A
Accounts: Margin Accounts? Yes; Individual/Joint brokerage accounts include M1 Margin Loan by default ($2,000 min equity). Not for IRAs. Yes
IRAs Offered? Yes; Traditional, Roth, and SEP IRAs available ($500 minimum). Yes (Traditional and Roth); no SEP
HSAs Offered? No No
Money Market Sweep? Yes; High-Yield Cash Account has FDIC bank sweep. Invest-account cash does not auto-sweep (transfer required). Yes (High-Yield Cash Account bank sweep)
CDs Offered? No No
Robo-Advisor: Offered No (self-directed Pies/auto-invest; optional non-discretionary M1 Advisory) Yes, via Public Advisors LLC automated Direct Indexing, Generated Assets, and Treasury Accounts.
Robo-Advisor Service M1 Pies (self-directed); M1 Advisory / M1 Advisor (AI, non-discretionary) Public Advisors (Direct Indexing, Generated Assets, Treasury Accounts)
Robo-Advisor Fees $3/mo platform fee if <$10k assets (waived at $10k+ or Personal Loan); advisory currently 0% (up to 0.20%) Direct Indexing 0.19% AUM annual; Generated Assets 0.49%; Treasury Accounts tiered 0.09%-0.29%. Brokerage fees may apply.
Basics: Headquarters Chicago, IL New York, NY
Year Founded 2015 2019
Clearing Firm M1 Finance LLC (self-clearing Individual/Joint); Apex Clearing (IRA/Trust/Custodial) Apex Clearing Corporation
Local Branches? No No
New Account Minimum $100 (individual/joint taxable); $500 (IRAs) $0 (no account minimums; as little as $1 to start)

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