Are Wealthfront Cash accounts FDIC insured?

Asked 3 years ago

Hi, I want to open a cash account with Wealthfront brokerage to start trading. However, I first want to make sure that it is safe. Are they FDIC insured? What is the minimum deposit? Thanks!

Fdic insurance Wealthfront Cash account Personal finance app

Andrew Moran

Tuesday, September 21, 2021

Yes, Wealthfront Cash accounts do qualify for FDIC insurance. In the event of a failure of broker, clients will receive FDIC insurance coverage of up to $250,000 per account.
Your investments at Wealthfront also protected by SIPC insurance of up to $500,000.
That said, Wealthfront can offer you up to $1 million of FDIC insurance, which is much more than what the average financial institution will offer its customers. 