Vanguard Commissions

Vanguard Stock Trading Fees

Vanguard has a simple commission schedule. It applies to both retirement and non-retirement accounts. The broker's commissions cost $0 for online stock and ETF trades.

Retirement savers can simplify the investment process by trading NTF mutual funds with Vanguard. The broker manages its own suite of mutual funds. Vanguard offers access to more than 160 no-transaction-fee Vanguard mutual funds and more than 3,000 mutual funds from other companies. Transaction-fee mutual funds carry a $20 online charge for clients with less than $1 million in qualifying Vanguard assets. This fee applies to purchases, sales, and exchanges.

Vanguard manages its own set of target-date mutual funds. These products are designed for retirement investors. The portfolio of a target-date fund becomes less aggressive as the target date approaches. This is the date when retirement is supposed to begin. These funds are no-load, no-transaction-fee products. Vanguard’s Target Retirement Funds have an average expense ratio of 0.08%.

Vanguard Fees Comparison

Vanguard Margin Rates

See all margin interest rates »

Vanguard Brokerage Services Fees

Fee Type	Amount
Annual Fee	$25 annual account service fee applies to each brokerage account. For mutual fund-only accounts, a $25 annual account service fee may be charged for each account. The fee can be waived in several cases, including by signing up for e-delivery, having at least $5 million in qualifying Vanguard assets, or holding certain organization, trust, or Vanguard-affiliated advisory accounts.
Insufficient funds	$20
Stop payment	$15
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) fees	Banks 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 transfers	Vanguard charges a $10 wire fee unless you are a Flagship or Flagship Select client or are wiring money out of an IRA. Your bank may also charge a fee for each wire.
Miscellaneous fees	Other securities transaction or maintenance fees may apply. Call us for additional information.

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.