Finance creators who switch from Robinhood's affiliate program to Public.com's, with the same content and audience, often triple their earnings per funded account. Not because they promoted more. Because the programs pay differently. Same viewer. Same action. Different check.

Most creators pick a brokerage affiliate based on name recognition and stick with it. That habit is expensive. The rate difference across investing platform affiliates is wide enough that choosing wrong by default costs real money every month.

Why Brokerage Affiliate Rates Vary This Much

Investing apps are in a customer acquisition race. They need funded accounts to grow, and affiliate programs are one way they get there. But what they're willing to pay per referral depends on where they are in that race.

A platform with 30 million users and massive brand recognition doesn't need to pay $100 per funded account. It already converts through name recognition alone. A platform trying to capture market share from quality audiences has more incentive to pay above standard.

That dynamic explains most of the rate variation. The rest comes from the conversion event itself. Some platforms count a signup. Others only pay on a funded account. An unfunded account is worth much less to the platform, so the payout reflects that. When comparing rates, make sure you're comparing the same trigger.

Cookie windows add another variable that most creators underestimate. A 30-day window pays you for conversions that happen weeks after a viewer clicks your link. A 7-day window doesn't. For financial products where viewers research before committing, that gap is meaningful.

Public.com: What It Pays and Why It Stands Out

Public.com is a multi-asset brokerage. Stocks, ETFs, bonds, crypto, and alternatives in one account. That breadth matters for affiliate conversion: viewers who open a Public.com account have more reasons to actually fund it compared to platforms limited to stocks and options.

The affiliate rate reflects the platform's approach to creator acquisition. The standard direct application rate runs in the $50 to $150 range per funded account, with higher tiers available for creators driving consistent volume. Those tiers aren't listed on the affiliate page and aren't accessible through a standard application.

The 30-day cookie window also works in your favor. A viewer who clicks your link, takes time to move money over, and funds two weeks later still counts as your referral.

Creators who access Public.com through Money Matchup earn above the standard portal rate. MM has negotiated volume agreements with the platform that individual creators can't replicate on their own. The programs know the creators applying through MM are vetted finance channels with engaged audiences. That's worth paying a premium for, and the rates reflect it.

Robinhood: The Default That Costs You

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Robinhood is the first affiliate program many finance creators join. It's understandable. The name converts with beginner audiences, approval is accessible, and the setup is fast.

The rate is the problem. Through most public affiliate networks, Robinhood pays in the $5 to $15 range per funded account. That's near the floor for brokerage programs. A creator generating 50 funded accounts per month earns $250 to $750. The same 50 funded accounts through Public.com's program generates $2,500 to $7,500 at the standard rate.

Robinhood still makes sense for specific audiences. If your viewers are genuinely new to investing and brand recognition closes the deal faster than any other factor, the higher conversion rate can offset the lower CPA. A program paying $150 per funded account that converts at 0.1% isn't automatically better than a program paying $15 at 2%.

But most finance creators who've promoted both platforms find the audience fit gap between Robinhood and Public.com is smaller than expected. The rate difference is not.

Webull and M1 Finance: Where They Fit

Webull pays more than Robinhood. The typical range runs $20 to $50 per funded account, with approval standards that are more selective than Robinhood's open network. It converts best with audiences interested in active trading, options analysis, or advanced charting. Beginner investing audiences don't convert on Webull the same way they do on platforms with a simpler pitch.

M1 Finance fills a different segment. It's built around automated investing and portfolio allocation, which resonates with viewers who already invest and want to put more of it on autopilot. The rate typically runs $30 to $75 per funded account. It fits audiences that are past the beginner stage but prefer passive management over active decision-making.

Acorns and Stash operate at the lower end of the rate scale, typically $10 to $20 per signup. They work with audiences who are just starting to save and haven't started investing yet. The per-conversion payout is lower, but so is the friction to convert. For beginner-focused content, they can still generate meaningful volume.

Here's a quick comparison across platforms:

Cookie Windows: A Silent Cost Most Creators Ignore

Investing isn't an impulse decision. Viewers download the app, explore the platform, think about it, and fund when they're ready. That process often takes more than a week.

Public.com's 30-day cookie window means you get credit for those delayed conversions. Shorter windows on competing platforms mean you don't. If you're generating 100 clicks and 10 funded accounts across 30 days but 6 of those funded accounts happen after day 7, a 7-day cookie just cost you 60% of the conversions your content actually generated.

The comparison isn't just about rate anymore. It's rate times cookie-adjusted conversion rate. Before committing to any brokerage program, ask about the window. Then look at your analytics to understand how quickly your audience converts on financial product content. For most investing audiences, 30 days is significantly better than 7.

Approval Requirements Across the Category

Robinhood runs through open affiliate networks with fast approval and few minimum requirements. It's the easiest to access, which is partly why so many creators default to it.

Webull and M1 Finance are more selective. Approval timelines of two to four weeks are common. Smaller channels sometimes don't hear back at all. There's rarely an explanation when that happens.

Public.com's direct approval process is the most restrictive. Most creators who get approved directly have established finance channels with audiences that actively invest. A subscriber count below 10,000 to 25,000 typically doesn't clear the bar for a direct application.

Applying through Money Matchup changes that. MM has direct relationships with Public.com and other investing platforms on its roster. The approval timeline compresses because MM vouches for the creators it sends. Most approved creators hear back within 48 hours. A dedicated agent also matches you to the programs that fit your specific audience, not just the highest-paying options across the platform.

Money Matchup has paid over $50M to creators on the platform. That volume gives MM negotiating leverage individual creators don't have, and the programs respond with rate tiers that don't appear on any public affiliate page.

Which Program Fits Your Channel

The decision comes down to audience fit and what you can actually access.

If your content targets first-time investors and brand recognition closes sales quickly, Robinhood converts reliably. You'll earn less per conversion, but conversion rate matters. Don't ignore it.

If your audience already invests or is actively comparing platforms for better product breadth, Public.com fits. The rate is higher, the cookie window is longer, and the product gives you more to explain in content without over-selling.

If your viewers are active traders focused on tools and execution, Webull is the better match. If they want hands-off automation, M1 Finance fits that audience more naturally.

Once you've identified the right platform, the rate you get depends on how you access it. The standard portal rate is the default. It's not the ceiling. Creators who access programs through Money Matchup earn above that rate because MM has the volume relationships that make higher tiers available.

The application takes a few minutes. Most creators hear back within 48 hours.