Public.com vs flatex — which broker is better?

Pros

• Options Rebate Program pays USD 0.06–0.18 per stock or ETF contract, typically more than the roughly USD 0.05 per contract of regulatory fees — a net-negative transaction cost that no competitor here matches
• Cheapest margin of the three: 5.15% base (Fed Funds Target Rate + 1.15%, with FFTR at 4.00% as of 17 September 2026), tiering to 4.20% above USD 50 million
• A real bond desk — fractional corporate bonds at 0.35%–0.50% of par, Treasuries at 0.10%–0.25%, plus customisable Treasury ladders and a 6-month T-bill account from USD 100
• Genuinely multi-asset in one login: stocks, ETFs, options, bonds, Treasuries, 60+ crypto assets, IRAs, Crypto IRAs and a high-yield cash account quoted at 3.30% APY in mid-2026
• Free ACH in and out, free incoming wires and free incoming ACAT transfers, with no minimum deposit
• Transparent, well-maintained public fee schedule — the version used for this record was updated 17 September 2026 and states every line item including the awkward ones
• Index options at USD 0.35 per contract for every customer, plus the exchange fees Public passes on

Cons

• US residents only — no international entity, so European, UK or DACH investors cannot open an account
• USD 100 to transfer securities out, plus USD 115 per security for a DRS transfer; both are the highest in this comparison
• No futures, no spot forex, no mutual funds and no desktop application — active traders will find the charting and depth-of-market shallow next to Webull or moomoo
• The options rebate is funded by payment for order flow, so you are accepting a routing model in exchange for the payment; the free Wholesale route is the default, and choosing Smart Order or Lit-Exchange routing costs USD 0.003 per share
• A USD 3.99 monthly inactivity fee applies to accounts under USD 70 with no six-month activity, and there is no paper-trading environment to practise in

Pros

• EUR 5.90 flat commission on German, US, Canadian and other foreign orders with no percentage component up to EUR 40,000 — a EUR 10,000 trade costs the same as a EUR 1,000 trade
• All ETF and fund savings plans execute at EUR 0.00 commission with over 5,000 plans available and no cap on the savings rate
• No custody fee, no account fee, no inactivity fee, and free incoming and outgoing depot transfers
• Genuine spot crypto in around 25 coins at 0.6%–0.7% all-in, held inside the regulated German bank rather than as an ETN wrapper
• Full German banking licence under BaFin and Bundesbank supervision, with an MDAX-listed parent (flatexDEGIRO SE, ticker FTK) publishing audited accounts and over EUR 100 billion in customer securities under custody
• Tax-simple in both markets it serves: automatic German Abgeltungsteuer withholding and automatic Austrian KESt settlement at 27.5% on flatex.at
• Free foreign-currency sub-accounts, so USD or CHF proceeds can be held rather than converted back at a spread every time
• Fast onboarding — flatex advertises a five-minute fully digital account opening, and no minimum deposit applies

Cons

• 0.00% p.a. credit interest on cash balances. Competitors pay 1%–1.75% on the settlement or call account, so an investor holding EUR 20,000 in cash gives up EUR 200–350 a year that never shows up in any fee table
• Currency conversion costs an absolute margin of USD 0.0040 per euro — roughly 0.35% — which is worse than Consorsbank's published USD 0.0030 and far worse than a multi-currency specialist
• No Eurex or US options and futures trading at all. Certificates, knock-outs and Société Générale CFDs are the only leveraged instruments on offer
• Real-time quotes are metered: 25 free per month plus 10 per executed order, then EUR 0.01 per query, and the professional flatex trader 2.0 platform costs EUR 15–39 a month on top
• The EUR 5.90 floor makes flatex expensive for small orders — a EUR 300 purchase pays about 2% in commission before venue costs, where a EUR 1 neobroker charges 0.3%
• Direct foreign market access is narrow: US, Canada, Euronext, Vienna, Zurich and Milan (sell only). There is no direct London, Tokyo, Hong Kong or Nordic access, and stock savings plans cost 1.00% of the rate