Wealthfront
Pros
- Zero commissions on stock and ETF trades
- $1 minimum for Stock Investing Account
- Cash Account has zero account fees
- Free 24/7 instant withdrawals to eligible accounts
- Up to $8M FDIC insurance through program banks
- S&P 500 Direct starts at $5,000 with a 0.09% fee
- Automated Bond Ladder waives advisory fee for 3 months
- Two out-of-network ATM reimbursements monthly, up to $7.50 each
Cons
- Automated Investing Account starts at $500
- S&P 500 Direct requires $5,000 to start
- Automated Bond Ladder has a 0.15% annual advisory fee
- 529 plan total fees are 0.39%-0.45%
- Cash APY can change before or after account opening
- APY Boost applies only up to a $150,000 balance
- FDIC coverage starts only after cash reaches program banks
- Stock Investing Account is not built for options or crypto trading