Vanguard Commissions

Vanguard Stock Trading Fees

Vanguard uses a straightforward commission schedule. It applies to both retirement and taxable brokerage accounts. The broker charges $0 for online stock and ETF trades.

Retirement investors can keep the investing process simple by using NTF mutual funds at Vanguard. The broker runs its own large lineup of mutual funds. Vanguard provides 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 have 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 group of target-date mutual funds. These funds are built for retirement investors. A target-date fund’s portfolio gradually becomes more conservative as the target date gets closer. That target date is the year when retirement is expected 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

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Investors who are approved for margin accounts can trade and borrow against eligible securities in a margin account, subject to Vanguard’s margin requirements and federal rules.

 

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 situations, including by enrolling in 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 is filled over more than one day, the commission will be charged for each day on which an execution takes place. Additional fees may apply for trades completed directly on local markets.
American Depositary Receipt (ADR) fees	Banks that custody ADRs are allowed to charge ADR holders certain fees, which are explained 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 charges, 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 are filled over multiple days are charged separate commissions. Also, 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 changed by the client and filled in multiple trades on the same day are charged separate commissions. These commission and fee schedules may change.