Public vs TradeStation

What each platform is

Public and TradeStation stop resembling each other almost immediately once a reader moves past basic stock and options trading.

Public emphasizes investment products. Its canonical record describes stocks, options, individual bonds, a Bond Account, a Treasury Account, direct crypto through Zero Hash, a high-yield cash account, AI-assisted research and alternative investments such as royalties.

TradeStation emphasizes trading systems. Its canonical record describes TITAN X, TradeStation Desktop, Web Trading, Mobile, OptionStation Pro, FuturesPlus, EasyLanguage, RadarScreen, Portfolio Maestro, the TradeStation Simulator and a REST and FIX API, alongside volume-tiered options and futures schedules.

The choice is largely portfolio construction against systematic trading.

Equity costs look similar and behave differently

Both records show $0 U.S. listed stock and ETF commissions. Public applies $2.99 to extended-hours and OTC trades unless Premium applies. TradeStation states plainly that a $0 headline commission does not mean zero cost, because clearing at $0.003 per share, direct routing at $0.0048 per share and exchange and regulatory charges can still apply, with rates declining at higher monthly share volume, and prices sub-dollar OTC at $0.005 per share with a $1 minimum and a $50 cap.

Fractional shares are supported at Public in real time and are not established in the TradeStation record.

Options serve different workflows

Public charges $0 commission and $0 per contract on stock and ETF options with a $0.06 to $0.18 per contract order-flow rebate, and $0.50 per index-option contract, or $0.35 with Premium.

TradeStation is volume tiered per contract, per side: single leg $0.80 at 0 to 500 contracts a month stepping to $0.60, $0.50 and $0 above 10,000 contracts a month, multi-leg $0.40 stepping to $0, and index options $1.00 down to $0.60. Direct-routed options add $1.00 per contract, per side. Assignment or exercise is $14.95 per position, and early exercise or assignment is $1.50 per contract with a $5.95 minimum, which matters for readers who are assigned often.

The OptionStation Pro environment adds scenario modeling, volatility surface tools, IV rank and percentile and beta-weighted delta. Public integrates options into a broader investing app instead.

Futures are a straightforward product difference

TradeStation documents futures across CME, CBOT, NYMEX, COMEX and CFE at $1.75, $1.00, $0.80 and $0.50 per contract, per side across volume tiers, micro futures from $0.50 to $0.25, a $0.10 clearing fee per side and futures options at $0.85 through FuturesPlus.

Public does not establish futures.

EasyLanguage is one of the largest differences

TradeStation allows traders to build custom indicators, scans, alerts, entry logic, exit logic and strategies natively, and to run them through RadarScreen and algorithmic order handling with direct market access.

Public does not establish an equivalent native strategy-development language. Its automation is contribution automation through Investment Plans and recurring investing, which is a different capability.

Backtesting makes the platforms structurally different

TradeStation documents strategy backtesting, Portfolio Maestro portfolio-level backtesting and the TradeStation Simulator with futures and options simulation. Public does not establish systematic backtesting.

Historical or simulated results describe past behavior under stated assumptions and should never be presented as evidence of future returns.

APIs reinforce the same split

TradeStation documents REST and FIX connectivity with a sandbox, streaming quotes, market depth, options chains, historical data and advanced order types across equities, options and futures.

Public documents a trading API covering stocks, options, multi-leg option quotes, short selling, crypto and historical market data, plus a command-line interface. Both exist; they are not equivalent in scope, and neither record supports inferring the other capability.

Direct crypto currently belongs to Public

Public offers live direct crypto through Zero Hash, which executes and custodies, with order-size tiers from $0.49 up to $6.29 and 1.25% above $500, a supported crypto IRA at a 0.05% monthly custody fee, and no staking. The assets are not SIPC or FDIC protected.

TradeStation terminated all U.S. crypto-related products and services on 22 February 2024. Its historical crypto pages do not represent a current product, and crypto-linked futures are regulated derivatives rather than direct ownership.

Fixed income and cash favor Public in packaging

Public presents individual bonds, fractional bonds, a Bond Account holding 10 bonds from $1,000 at $3.99 monthly or $0 with Premium, and a Treasury Account advised by Public Advisors LLC with marginal fees from 0.29% to 0.09%. It also documents a High-Yield Cash Account at a variable 3.30% APY as of 2026-08 with FDIC pass-through insurance through partner banks.

TradeStation supports bonds, municipal bonds and Treasuries with a $50 Treasury transaction fee and $14.95 plus $5 per bond or note on corporates and municipals, and establishes no cash-yield program. Its ongoing fees also run differently: a $10 monthly inactivity fee unless activity requirements are met, a $35 IRA annual administration fee and a $125 outgoing account transfer.

Two different ideas of research

Public frames research around Alpha and Agents, analyst insights and institutional research, while stating Agents do not provide investment advice.

TradeStation frames research around charts, technical studies, scanning, strategy construction and historical testing. These are distinct philosophies rather than different amounts of the same thing.

Practical distinction

Public may fit better for bonds, Treasuries, cash, direct crypto, AI-assisted research, Direct Indexing, Generated Assets and alternative investments.

TradeStation may fit better for EasyLanguage, futures, backtesting, RadarScreen, Portfolio Maestro, technical customization, APIs and systematic trading.

Both records were fact-checked 2026-09-02; confirm current pricing with each platform before funding an account.