Vanguard brokerage company rating

Vanguard commissions structure for 2019. IRA, brokerage trading account fee schedule, margin rates. Vanguard annual, inactivity charges, cost of investing.


Vanguard Brokerage Account Schedule of Fees

Stocks and ETFs $7 for the first 25 trades, $20 for subsequent trades for account with less than $50,000.
$7 for account with $50,000–$500,000 invested in Vanguard products (Voyager Services®).
By phone trades $25.
$2 for account with $500,000–$1,000,000 invested in Vanguard products (Voyager Select Services®). By phone trades $2.
Free for first 25 trades, $2 for subsequent trades for account with $1 million-$10 million (Flagship Services™)
Free for first 500 trades, $2 for subsequent trades for account with over $10 million (Flagship Select Services™)
Vanguard ETFsFree*
Options Standard Service $20 + $1 per contract
Voyager Services $7 + $1 per contract
Voyager Select, Flagship, and Flagship Select Services $2 + $1 per contract
Mutual funds Vanguard mutual funds - free. All others: Standard - $35; Voyager® and Voyager Select® - $20; Flagship - $8
U.S. Treasury Free for new and existing issues.
U.S. government agency securities, corporate bonds, and CDs New issues free. Standard and Voyager $2 per $1,000 face amount ($250 maximum). Voyager Select, Flagship, and Flagship Select $1 per $1,000 face amount ($250 maximum)
Mortgage-backed securities & commercial papers $50 per transaction.
UITsSelling UITs $35 per transaction.

* - If you buy and sell the same Vanguard ETF in a Vanguard Brokerage Account more than 25 times in a 12-month period, you may be restricted from purchasing that Vanguard ETF through your Vanguard Brokerage Account for 60 days.


Vanguard Brokerage Services Fees

Loan balanceInterest rateEffective Rate (Interest rate plus 6.5% base rate)
Up to $19,9992.50%9.00%
$1 million or more–1.25%5.25%

Investors approved for margin accounts can trade most eligible securities on margin, including: Exchange-listed securities (excluding Vanguard ETFs®), over-the-counter (OTC) securities traded through Nasdaq or the National Market System, OTC securities approved by the Federal Reserve Board, government, municipal, and corporate bonds.


Vanguard Brokerage Services Fees

Fee TypeAmount
Annual Fee$20 annual fee applies to each of brokerage accounts.The fee is waived for Voyager, Voyager Select, Flagship, and Flagship Select clients, as well as for any client who elects to receive statements and other important information electronically.
VanguardAdvantage® AccountOffered to clients of Voyager Select ($30, charged annually), Flagship (free), and Flagship Select (free).

Insufficient funds: $20. Stop payment: $15. Checkbook reorder: Voyager Select, $9.95; Flagship, free; and Flagship Select, free. VanguardAdvantage Billpay® service: Voyager Select, $4.95 per month; Flagship, free; and Flagship Select, free. Possible fees at automated teller machines not affiliated with PNC Bank.

Foreign securities transactions$50 processing fee for non-DTC-eligible securities (not applicable to American Depositary Receipts) plus commission. If a trade executes over multiple days, the commission will be charged for each day on which an execution occurs. Additional fees may apply for trades executed directly on local markets.
American Depositary Receipt (ADR) feesBanks that custody ADRs are permitted to charge ADR holders certain fees, which are detailed in the ADR prospectuses. "Pass through" ADR fees are collected from Vanguard Brokerage Services by the Depository Trust Company (DTC) and will be automatically deducted from your brokerage account and shown on your account statement. Other fees, including dividend processing fees, may be withheld by the DTC from the amount paid by the issuer.
Wire transfersVanguard does not charge a fee to wire money to your bank. However, your bank may charge for receiving wires from your brokerage account or settlement fund.
Miscellaneous feesOther securities transaction or maintenance fees may apply. Call us for additional information.

You may receive a discount from standard commissions and fees if you're an enrolled client of Vanguard Voyager Services®, Vanguard Voyager Select Services®, Vanguard Flagship Services®, or Vanguard Flagship Select Services™. Other discounts and fee waivers from standard commissions may also be available.

Eligibility is based on total household assets held at Vanguard, with a minimum of $50,000 to qualify for Vanguard Voyager Services, $500,000 for Vanguard Voyager Select Services, $1 million for Vanguard Flagship Services, and $10 million for Vanguard Flagship Select Services. We determine eligibility by aggregating assets of all eligible accounts held by the investor and his or her immediate family members who reside at the same address, including investments in Vanguard mutual funds, Vanguard ETFs®, certain annuities through Vanguard, The Vanguard 529 Plan, and certain small-business accounts. Assets in employer-sponsored retirement plans for which Vanguard provides recordkeeping services may be included in determining eligibility if the investor also has a personal account holding Vanguard mutual funds. Vanguard ETFs and Vanguard mutual funds held in a Vanguard Brokerage Account are also included when determining a household’s eligibility; other assets held in a brokerage account are not.

For further information, call Vanguard Brokerage Services® at 800-992-8327 on business days from 8 a.m. to 10 p.m. or on Saturdays from 9 a.m. to 4 p.m., Eastern time.

Notes: A separate commission is charged for each security bought or sold. Orders that execute over multiple days are charged separate commissions. In addition, a separate commission is charged for each order placed for the same security on the same side of the market (buying or selling) on the same day. Orders that are changed by the client and executed in multiple trades on the same day are charged separate commissions. These commission and fee schedules are subject to change.

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