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

Public.com and M1 Finance 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: Public.com vs M1 Finance (2026)
Feature Public.com M1 Finance
Website https://www.public.com/ https://www.m1finance.com/
Broker Type Discount (self-directed online retail brokerage) Self-directed discount brokerage
Trading: Stock & ETF? Yes Yes
ETF & Stock commission $0 regular hours (US-listed); $2.99 extended/OTC (waived for Premium) $0 commission; $3/mo platform fee if assets <$10k (waived at $10k+ or with loan)
Fractional Shares? Yes ($5 min outside plans; $1 in Investment Plans) Yes (to 1/100,000th of a share)
Percent Allocations? Yes (Investment Plans: custom 1% allocations; Direct Indexing weighting) Yes (M1 Pies with custom target % allocations)
Crypto Trading? Yes (via zerohash; 60+ assets including BTC/ETH; 24/7; $1 min). Yes (Bakkt Crypto Account; BTC, ETH, LTC; US 18+)
Crypto Fees zerohash: $0.49–$6.29 (≤$500); 1.25% (>$500). Recurring plans 1.25%. API volume-tiered (0.10–0.60%). Bakkt 1% (100 bps) on buys/sells (in exec. price); M1 $0 commission
Options Trading? Yes (stock, ETF, and index options; multi-leg strategies). No
Options Fee $0 commission/per-contract for stock/ETF options plus $0.06–$0.18 rebate/contract. Index: $0.35–$0.50/contract. Regulatory fees apply. N/A
Bond Trading Available? Yes (fractional Treasury/corporate from $100; Bond Account; municipals coming soon). No
Receives payment for order flow (PFOF)? Yes (receives PFOF on options and wholesale equity routing). Yes (receives PFOF ~$0.002/share)
Interface: Web trading? Yes (full web platform plus iOS/Android apps). Yes (web m1.com and iOS/Android apps)
Desktop trading? No. Web platform and mobile apps only; no native downloadable desktop trading software. No
API Trading? Yes. Public Trading API (stocks, ETFs, options, crypto, bonds) available to all members; no approval required. No
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 Yes; Individual/Joint brokerage accounts include M1 Margin Loan by default ($2,000 min equity). Not for IRAs.
IRAs Offered? Yes (Traditional and Roth); no SEP Yes; Traditional, Roth, and SEP IRAs available ($500 minimum).
HSAs Offered? No No
Money Market Sweep? Yes (High-Yield Cash Account bank sweep) Yes; High-Yield Cash Account has FDIC bank sweep. Invest-account cash does not auto-sweep (transfer required).
CDs Offered? No No
Robo-Advisor: Offered Yes, via Public Advisors LLC automated Direct Indexing, Generated Assets, and Treasury Accounts. No (self-directed Pies/auto-invest; optional non-discretionary M1 Advisory)
Robo-Advisor Service Public Advisors (Direct Indexing, Generated Assets, Treasury Accounts) M1 Pies (self-directed); M1 Advisory / M1 Advisor (AI, non-discretionary)
Robo-Advisor Fees Direct Indexing 0.19% AUM annual; Generated Assets 0.49%; Treasury Accounts tiered 0.09%-0.29%. Brokerage fees may apply. $3/mo platform fee if <$10k assets (waived at $10k+ or Personal Loan); advisory currently 0% (up to 0.20%)
Basics: Headquarters New York, NY Chicago, IL
Year Founded 2019 2015
Clearing Firm Apex Clearing Corporation M1 Finance LLC (self-clearing Individual/Joint); Apex Clearing (IRA/Trust/Custodial)
Local Branches? No No
New Account Minimum $0 (no account minimums; as little as $1 to start) $100 (individual/joint taxable); $500 (IRAs)

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