Finance creators promoting Robinhood earn, on average, $15 to $20 per qualified referral through the standard program. The public rate for Public.com sits around $50 per funded account. That's a $30 gap per conversion on paper. Which platform actually generates more income depends on factors most comparison articles skip entirely.
What These Two Programs Actually Are
Robinhood runs a referral program, not a traditional CPA affiliate structure. When someone signs up through your link and meets the minimum requirements (usually linking a bank account), you earn a fixed reward. The payout has shifted over the years. Currently, it runs in the $15 to $20 per qualified signup range through the public referral track.
The program is easy to access. There's no formal application with a traffic threshold review. Most creators who want the link can get it. That accessibility is also its limitation: because everyone can get it, brands don't negotiate above the floor for individual creators.
Public.com runs a more traditional affiliate program with a higher barrier to entry. The trigger is a funded account, not just a signup. Creators need to clear a minimum traffic threshold, and the application involves actual review time. The public floor for Public.com sits around $50 per funded account.
The funded-account trigger is meaningful. Viewers who click, sign up, and fund their account are genuinely activated users. That's a higher-intent action than a free signup, which is part of why the CPA is higher.
How Much Each Program Pays Finance Creators
On a per-conversion basis, Public.com wins by a wide margin at the public rate. $50 per funded account beats $15 to $20 per referral. The math isn't close.
But conversion rate changes the calculation. Robinhood is one of the most recognized investing brands in the US. Finance audiences who haven't started investing yet know the name. That name recognition drives higher click-to-signup rates, particularly for creators with audiences that skew younger or newer to investing.
Public.com converts better with audiences that already invest. Viewers who are actively looking to move money or open a second brokerage account are the ones who fund. First-time investors often sign up for free but don't fund immediately, which means the conversion doesn't trigger.
- Robinhood: $15 to $20 per referral, high volume potential with broad audiences
- Public.com: approximately $50 per funded account, higher per-conversion rate, lower raw volume for most channels
- Both have rate ceiling gaps: creators accessing either program through Money Matchup earn above the publicly listed floor
One thing most finance creators don't realize: the CPA listed on a program's affiliate page is the floor, not the ceiling. Platforms that aggregate creator volume negotiate above that floor because they represent consistent, high-quality traffic the programs want more of. The individual creator applying alone doesn't have that leverage. Creators who access these programs through Money Matchup earn above the public rate on both platforms because MM has negotiated volume tiers that aren't listed publicly.
Approval Requirements: What It Actually Takes
Robinhood's referral program has low barriers. Most creators can access it without a formal approval process. That's the good news. The bad news: no barriers means no negotiation leverage and no above-floor access.
Public.com's affiliate program is more selective. Applying directly typically requires:
- A finance-focused channel with consistent content about investing or personal finance
- A US-based primary audience (geographic restriction matters for funded account programs)
- A subscriber or traffic base that demonstrates meaningful conversion potential
- Two to four weeks for review, assuming a response comes at all
Through Money Matchup, the process is different. MM reviews every application within 48 hours. They don't have a hard published subscriber minimum, but they look at average views and consistency of promotion, not just raw subscriber count. A 40,000-subscriber channel with a dedicated investing audience can get approved faster than a 200,000-subscriber general creator.
Cookie Windows and Attribution
Cookie window length determines how long after a click you can still earn commission. Longer windows mean more of your organic traffic gets attributed properly.
Robinhood's referral program runs a short attribution window by design. The signup has to happen promptly after the click for the referral to register. Viewers who save the video and come back a week later often don't get attributed.
Public.com's affiliate cookie window is longer. Creators who drive high-intent traffic to Public.com capture more delayed conversions. For finance content that viewers research over multiple sessions before acting, longer cookies recover revenue that short windows lose.
This is a real difference. Most creators never check cookie window length when they pick a program. They add the link, mention it in videos, and assume the attribution is working. It often isn't capturing everything it should.
Which Program Fits Which Creator
The answer isn't universal. It depends on your audience's investing experience and your content format.
Robinhood fits better when:
- Your audience is newer to investing and looking for their first brokerage
- You cover personal finance broadly rather than deep investing strategy
- Your content targets viewers who haven't opened a brokerage account yet
- You want the simplest possible link with no approval gatekeeping
Public.com fits better when:
- Your audience already invests and is looking for a better platform or second account
- You cover multi-asset investing including stocks, ETFs, bonds, and alternatives
- Your viewers are willing to fund an account within your cookie window
- You want the higher per-conversion payout and can accept a more selective approval process
The creators earning the most from the investing niche typically don't choose one. They run both. Robinhood covers the newer-investor segment. Public.com handles the experienced-investor segment. The CTA changes depending on which viewer profile a specific video is targeting.
How to Maximize Earnings From Both
Running both programs at once requires thoughtful placement. You can't drop both links in the same video and expect either to convert well. The CTA has to be specific to the viewer's situation.
A video about opening your first brokerage account should prioritize Robinhood. The audience is exactly right. Mid-roll verbal CTA plus the first link in the description. Don't bury it.
A video about portfolio diversification or multi-asset investing should lead with Public.com. Your viewers are already invested. They're evaluating whether to add a second platform. That's Public.com's core pitch.
For videos covering general investing strategy where the audience mix is unclear, test one platform per video over a month. Check which generates more funded conversions for your specific audience. The data from your own channel is more useful than any general comparison guide.
A few mechanics matter regardless of which program you're promoting:
- Description links must start with
https://to be clickable. Plain domain links don't work in YouTube descriptions. - First verbal mention around the two-minute mark performs better than opening with the CTA
- Viewers who finish the video are the highest-intent segment. The outro is a high-conversion placement, not a throwaway
- Give viewers a specific reason to click: what they get, that it supports the channel, that they're accessing curated offers through your link
Money Matchup has paid over $50 million to creators across the platform. The investing platform category, including programs like Robinhood and Public.com, is one of the core niches inside MM. Finance creators who want access to both programs at above-floor rates can apply through MM and get a dedicated agent who handpicks the highest-value offers for their specific audience profile.