Most zero-commission brokers stop at zero. Public.com goes one step further on options: it pays you a per-contract rebate every time you trade a stock or ETF option, on top of charging nothing to open or close the position. It’s the only broker in our comparison set that flips the fee model from “we charge you” to “we pay you,” and understanding exactly how that rebate works, and where it doesn’t apply, matters more than the headline.
- Public.com charges $0 commission and $0 per-contract fee on stock/ETF options, and pays a rebate of $0.06 to $0.18 per contract depending on your monthly volume.
- The top $0.18/contract rebate tier requires trading 10,000+ contracts a month, active-trader territory most retail traders will never reach.
- Index options (SPX, NDX, VIX, CBTX) are priced separately at $0.35 to $0.50 per contract and are NOT eligible for the rebate.
- Public’s charting and technical-analysis tools are noticeably thinner than Webull’s or thinkorswim’s, and it does not support futures.
- Data verified 2026-08-27 directly against public.com’s own fee page and cross-checked against a third-party broker review site; both agree on every figure below.
How the rebate actually works
On a standard $0-commission broker, a 10-contract options trade costs you nothing but also earns you nothing. On Public, that same 10-lot trade at the base tier pays you back $0.60 (10 contracts x $0.06), credited automatically, no separate claim process. Sell to close later and you get paid again on the closing leg. Trade options regularly and the rebates function like a standing discount that most brokers simply don’t offer.
The rebate applies to stock and ETF options specifically, the contracts most retail traders spend the bulk of their time in: SPY, QQQ, IWM, and single-name equity options. It does not apply to index options, which we’ll get to below.
Rebate tiers, and who actually reaches them
The rebate scales with your monthly contract volume (verified 2026-08-27 at public.com/invest/options-trading):
| Monthly contract volume | Rebate per contract | What it means for you |
|---|---|---|
| 0 to 999 | $0.06 | Base tier. Most casual and part-time traders land here. |
| 1,000 to 4,999 | $0.10 | Regular multi-leg trader, several trades a week. |
| 5,000 to 9,999 | $0.14 | Very active trader, near-daily options activity. |
| 10,000+ | $0.18 | Professional-volume territory. Most retail traders never get here. |
Be honest with yourself about where you’ll actually land. A trader placing five 10-contract trades a week is doing roughly 200 to 250 contracts a month, nowhere near the 1,000-contract second tier. That trader is earning the base $0.06/contract rebate, which is a genuine advantage over a broker charging $0.65/contract (illustrative figure, not any specific broker’s actual rate; always check a broker’s current fee schedule before comparing), but it isn’t the headline $0.18 figure that markets the product. The top tier is realistically only reached by traders running systematic, high-frequency options strategies, not someone managing a handful of positions.
Public also runs a separate, lower rebate schedule for API-traded contracts and for QQQ, SPY, and IWM specifically ($0.06 to $0.10 depending on tier), so don’t assume every symbol pays the full standard-tier rate.
The index-options carve-out
Here’s the catch that a lot of “Public pays you to trade options” summaries skip: index options are a different product with a different, non-rebated fee schedule. SPX, NDX, VIX, and CBTX options on Public cost $0.35 to $0.50 per contract, verified 2026-08-27. You are not earning anything back on these; you’re paying a per-contract fee like you would at most other brokers.
This matters because SPX and VIX options are exactly the instruments a lot of active options traders, especially anyone running 0DTE or index-hedging strategies, actually spend the most time in. If your trading is mostly index options rather than single-name equity or ETF options, Public’s rebate story barely applies to you, and you should compare the $0.35 to $0.50/contract index pricing directly against what you’d pay elsewhere rather than assuming the “gets paid to trade” pitch covers your whole book.
Where Public falls short
The fee structure is genuinely differentiated, but it’s not the whole picture. A few things worth knowing before you open an account for options specifically:
- No futures. If your strategy touches futures or futures options at all, Public isn’t an option, full stop.
- Thinner charting and technical tools. Independent broker comparisons consistently note that Public’s charting stack and indicator library are lighter than what you get on Webull or thinkorswim-style platforms. If you lean heavily on technical setups before entering an options trade, you may find yourself running charts elsewhere and executing on Public.
- The rebate rewards volume you may not have. As shown above, the meaningful upgrades in rebate rate require thousands of contracts a month. Casual traders get the real but modest base-tier rebate, not the advertised top number.
- No public options-tracking affiliate program at the time of this review (verified 2026-08-27), which doesn’t affect what you pay but is worth flagging for transparency: we link directly to Public’s own site below rather than through a tracked referral.
How Public compares to the other $0-commission brokers
Every broker below charges $0 commission and $0 base per-contract fee on standard equity/ETF options, per each broker’s own fee schedule as verified in the dates noted. The real differences are in the extras: rebates, index-options pricing, and platform depth.
| Broker | Stock/ETF options fee | Rebate? | Index options | Notable strength |
|---|---|---|---|---|
| Public.com | $0 + $0.06-$0.18/contract REBATE (paid to you) | Yes, volume-tiered | $0.35-$0.50/contract, not rebated | Only broker here that pays you to trade options |
| Webull (verified 2026-08-06) | $0 | No | $0.50/contract flat, plus $0.10/contract on orders above 500 contracts | Deeper charting and technical-indicator stack, paper trading |
| Firstrade (verified 2026-08-08) | $0 | No | check current terms | No inactivity fees, straightforward fee schedule |
| Robinhood (verified 2026-08-06) | $0 | No | check current terms | Simple mobile-first interface, Gold tier for added data |
| moomoo (verified 2026-08-08) | $0 (regulatory pass-through fees still apply, e.g. OCC $0.025/contract, standard across most $0-commission brokers) | No | check current terms | Free real-time Level 2 quotes, paper trading |
The practical read: if you trade mostly stock and ETF options at a volume anywhere above a handful of trades a month, Public’s rebate is real money you don’t get anywhere else on this list. If you trade mostly index options, lean on advanced charting, or need futures, the rebate story matters less and you should weigh the other columns instead.
A hypothetical volume comparison
Here’s an illustrative example, not a recommendation to trade any particular volume or instrument. A hypothetical trader placing 40 stock-option contracts a month, all at the base rebate tier, would earn back $2.40/month ($0.06 x 40) on Public, versus $0 back at a flat-zero broker with no rebate. Scale that hypothetical trader up to 1,200 contracts a month (tier two, $0.10/contract) and the rebate becomes $120/month. These are illustrative math exercises on the published rebate schedule, not projections of what any real trader will earn, since your actual volume, contract mix, and eligible-symbol breakdown will differ.
Who Public.com is actually for
Public fits a trader who does most of their options activity in stocks and ETFs (not index products), trades often enough that a few cents a contract adds up, and doesn’t need heavy charting or futures access on the same platform. It’s a weaker fit if you’re primarily an index-options trader, you rely on advanced technical analysis tools inside your broker’s platform, or futures are part of your strategy.
Ready to see the rebate in action? Open a Public.com account
Bottom Line
Public.com is the only broker in this comparison that pays you rather than charges you on standard stock and ETF options, and the rebate is real even at the modest base tier most traders will actually reach. Just don’t let the “get paid to trade” headline distract from the parts it doesn’t cover: index options are priced separately with no rebate, and the platform’s charting depth trails dedicated technical-analysis brokers.
FAQ
Q: Does Public.com really pay you to trade options?
A: Yes, on stock and ETF options specifically. You earn $0.06 to $0.18 per contract depending on your trailing monthly volume, credited automatically. Index options (SPX, NDX, VIX, CBTX) are priced separately at $0.35 to $0.50/contract and are not rebated (verified 2026-08-27).
Q: What volume do I need to hit the top $0.18/contract rebate tier?
A: 10,000 or more contracts in a month. That’s active-trader volume, not casual trading; most retail traders will sit at the base $0.06/contract tier (0-999 contracts/month) or the second tier ($0.10/contract, 1,000-4,999).
Q: Does Public.com charge extra fees for index options like SPX or VIX?
A: Yes. Index options run $0.35 to $0.50 per contract and are excluded from the rebate program, unlike stock and ETF options where you pay nothing and earn a rebate.
Q: How does Public.com’s options pricing compare to Webull?
A: Both charge $0 on standard stock/ETF options. Webull charges $0.50/contract flat on index options plus a $0.10/contract surcharge above 500 contracts in a single order; Public charges $0.35 to $0.50/contract on index options with no rebate either way. On equity/ETF options, Public’s rebate is the differentiator since Webull pays nothing back. Webull’s charting and indicator tools are deeper than Public’s.
Q: Is Public.com good for futures or index-heavy options trading?
A: No futures are offered at all. Index options are supported but priced separately with no rebate, so a trader whose activity is mostly SPX or VIX options won’t see much benefit from Public’s headline rebate pitch.