Public vs Charles Schwab

Public and Charles Schwab approach investing from opposite ends of the brokerage market. Schwab is a broad established institution combining brokerage, mutual funds, fixed income, retirement accounts, thinkorswim, futures, forex, automated investing and checking. Public is a newer multi-asset platform emphasising bonds, Treasuries, options, crypto, cash, AI-assisted research, advisory products and alternatives.

Every fact below is drawn from the two canonical ROIStreet review records. Where a fact is absent from a record, it is stated as not established rather than borrowed from the other platform.

Options pricing should be read exactly

Public charges $0 commission and $0 contract fee on stock and ETF options with disclosed rebates of $0.06 to $0.18 per contract, and index options at $0.50 standard or $0.35 with Premium.

Schwab charges a $0 base commission plus $0.65 per contract, with $0 exercise and assignment commissions and no contract fee on qualifying online buy-to-close orders priced at $0.05 or less. Broker-assisted options trades add $25 and automated phone trades add $5, each plus the per-contract fee.

The comparison is one of actual economics rather than a general claim that either platform is cheaper.

thinkorswim is Schwab's major active-trading capability

Schwab's active-trading environment is thinkorswim across desktop, web and mobile, with advanced charting, technical studies, market depth, Level II quotes, options analysis, streaming quotes and paperMoney simulated trading. Schwab also supports 24/5 trading on more than 1,300 eligible stocks and ETFs — not the whole U.S. listed universe.

Public is described through its own web and mobile apps, multi-leg options, an options strategy builder, profit and loss tools, a bond screener and analyst and institutional research. An equivalent professional workstation is not established.

Public has made bonds unusually visible

Public's fixed income is packaged as consumer products: corporate and municipal bonds, Treasuries, fractional bonds, a Bond Account and a Treasury Account with marginal tiers from 0.29% down to 0.09%.

Schwab's fixed income is priced as traditional brokerage access: $0 online Treasury auction and secondary trades, $1 per bond on secondary corporate, municipal, agency and applicable zero-coupon Treasury bonds with a $10 minimum and $250 maximum, $0 new-issue bond and CD transaction fees where applicable, and $25 extra for broker-assisted fixed income, with markup or markdown possible when Schwab acts as principal.

Mutual funds sit only on Schwab's side

Schwab lists thousands of no-load, no-transaction-fee funds at $0 online, Schwab funds at $0 where applicable, transaction-fee funds up to $49.95 or $74.95 depending on fund family, $0 Schwab transaction fee on sales under the current standard schedule and a $49.95 short-term redemption fee on applicable NTF funds held 90 days or less. Public's record states that mutual funds are not offered.

Direct crypto is currently a Public product in this pairing

Public's direct crypto is live, executed and custodied by Zero Hash LLC, priced in fixed tiers from $0.49 up to $6.29 by order size and 1.25% of the order amount above $500, with crypto IRAs at a 0.05% monthly custody fee, no staking and no transfers in New York. It is not SIPC protected and not FDIC insured.

Schwab Crypto is recorded as coming soon as of 2026-09-02, announced through Charles Schwab Premier Bank, SSB with Bitcoin and Ethereum, a 0.75% trading fee and zero stated spread. Schwab currently offers crypto ETPs and crypto-linked futures rather than direct spot crypto. That conclusion should not survive a Schwab Crypto launch without an update.

Retail forex belongs to Schwab

Schwab provides retail forex through Charles Schwab Futures and Forex LLC with 65+ currency pairs on thinkorswim, a $0 stated commission with cost reflected in the bid/ask spread, roughly 23 hours a day five days a week, and 24/5 forex specialist support. Public's record states spot forex is not supported.

Automated and advisory investing use different structures

Schwab Intelligent Portfolios has a $5,000 minimum, a $0 advisory fee, $0 commissions, automatic rebalancing, ETF portfolios, a required cash allocation held as an FDIC-insured deposit at Schwab Bank and tax-loss harvesting from $50,000 invested. Its Premium tier adds CFP access for a $300 initial planning fee and $30 per month at a $25,000 minimum. Schwab's own record notes that although there is no separately stated advisory fee, investors still bear underlying ETF expenses and the indirect economics of the required cash allocation.

Public Advisors LLC offers Generated Assets at 0.49% annually, Direct Indexing at 0.19% annually and the Treasury Account, which are not equivalent robo-advisor products.

Banking is a Schwab-only category here

Schwab Bank Investor Checking carries a $0 minimum balance, a $0 monthly service fee, unlimited eligible ATM cash-withdrawal fee rebates worldwide, $0 foreign transaction fees on eligible debit-card transactions, bill pay, mobile deposit and standard checks, and requires a linked Schwab One brokerage account. Public's High-Yield Cash Account is a cash subaccount, not a checking product.

Research identities differ

Public integrates AI into its research experience through Alpha AI research and AI Agents, with the record stating that Agents do not provide investment advice. Schwab's research runs through thinkorswim analytics, screeners, research and market data. AI branding is not evidence of better research outcomes.

Alternatives broaden Public in a different direction

Public's record includes royalties and Reg A securities through Dalmore Group, LLC with offering-specific fees, limited liquidity and a 2.5% secondary-market fee each side. Schwab's breadth runs instead through futures at $2.25 per contract per side, futures options, forex and a full banking relationship.

How to read the difference

Schwab is the broader institution; Public is the more distinctive product set. The right answer follows whether the account needs full-service infrastructure or packaged fixed income, cash and newer asset categories.