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Written by Sam Levine, CFA, CMT, Chris McKhann
Edited by Carolyn Kimball
Fact-checked by Steven Hatzakis
March 13, 2024
We love Vanguard’s funds, but we don’t have too many positive things to say about its brokerage. The website skimps on design, data and tools. Its mobile app is simply not competitive. Investors seeking to buy Vanguard funds should consider doing so at another broker.
Vanguard pros & cons
thumb_up_off_alt Pros
- Vanguard has a stellar reputation.
- The website has some tools and beginner education for long-term investing.
- It’s hard to find, but there’s thematic content for experienced and curious investors.
thumb_down_off_alt Cons
- There’s no stock research and detailed information is reserved for Vanguard products on the mobile app.
- Delayed stock quotes until you get to order entry.
- The mobile app has much worse functionality than the website.
Overall summary
| Feature |  |
|---|---|
| Overall |  |
| Investment Options |  |
| Commissions & Fees | |
| Mobile Trading Apps |  |
| Platforms & Tools |  |
| Research |  |
| Customer Service | |
| Education | |
| Ease Of Use |  |
Vanguard trading platform screenshots
Website:
Mobile app:
Customer service
To score Customer Service, StockBrokers.com partners with customer experience research firm Confero to conduct phone tests from locations throughout the United States. For this year's testing, 135 customer service tests were conducted over six weeks, with wait times logged for each call.
Customer service representatives were asked for assistance or details for prospective customers in several areas of broker services, including account opening, trading tools, apps, rollovers, active trading, and more. Here are the results for Vanguard.
- Average Connection Time: 2-3 minutes
- Average Net Promoter Score: 8.4 / 10
- Average Professionalism Score: 8.9 / 10
- Overall Score: 8.33 / 10
- Ranking: 6th of 13 brokers
What is a Vanguard brokerage account?
Vanguard is primarily known as a fund company, but it also operates a brokerage where you buy and sell stocks, bonds, mutual funds and ETFs with a self-directed account. Once you open and fund an account, you can enter orders via web browser or, depending on the product, via its mobile app.
Does Vanguard have a trading platform?
Vanguard has a website and mobile apps, but neither is trader-friendly. If you’re a trader or want to become one, have a look at the best in our Top Trading Platforms 2024 guide.
Is Vanguard good for beginners?
Vanguard is acceptable for beginners who want to invest in Vanguard funds. There’s good investor education on the website and investor jargon is kept to a minimum. That said, the best trading platforms for beginners will offer much more content to browse, such as at Fidelity and TD Ameritrade, who are leaders in this area.
What is so good about Vanguard?
Vanguard is the industry leader for low-cost passive investing. Many of Vanguard’s products are designed to mimic the performance of indices and keep investor charges low. Most actively managed funds underperform the S&P 500, and much of the underperformance is due to fees.
How much do you need to invest in Vanguard?
There is no minimum to open an account. Many of Vanguard’s funds require a minimum of $1,000 and some have minimums of $3,000. That's on the high side compared to industry leaders, especially in today’s environment of low or no fees and minimums. See low-fee leaders in our best brokers for free stock trading.
Is Vanguard a safe company to invest with?
Yes, Vanguard is a very reputable broker with a long track record, dating from 1975. It is overseen by the Securities and Exchange Commission and FINRA, both of which are independent regulatory agencies.
Does Vanguard charge account fees?
Yes, Vanguard does charge a $20 per account annual fee for its brokerage account. But this fee will be waived if you accept e-delivery of documents or keep a minimum account value of $1 million. If you're not rocking a mil at Vanguard yet, then go to My Accounts > Account information > Profile and account settings > Mail preferences and alerts > Delivery settings to set up e-delivery of documents.
Do you have to use Vanguard to buy Vanguard funds?
No. Though we like Vanguard’s mutual and exchange-traded funds, they can just as easily be bought at higher-rated brokers, including E*TRADE’s and Ally's no-fee mutual fund marketplaces.
About Vanguard
Vanguard was launched in 1975 by legendary investor Jack Bogle, whose goal was for the company to be a client-owned mutual fund firm with no outside owners. The company serves over 30 million clients and its assets under management have grown to over $7 trillion. Vanguard is headquartered in Valley Forge, Pennsylvania.
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StockBrokers.com Review Methodology
Our mission at StockBrokers.com is simple: provide thorough and unbiased reviews of online brokers, based on an extraordinary level of hands-on testing and data collection. Our ratings and awards are based on this data and our in-house experts’ deep authority in the field; brokers cannot pay for preferential treatment. Here’s more about trustworthiness at StockBrokers.com.
Our research team conducts thorough testing on a wide range of features, products, services, and tools for U.S. investors, collecting and validating thousands of data points in the process; this makes StockBrokers.com home to the largest independent database on the web covering the online broker industry. We test all available trading platforms for each broker and evaluate them based on a host of data-driven variables. All research, writing and data collection at StockBrokers.com is done by humans, for humans. Read our generative AI policy here.
As part of our process, all brokers had the annual opportunity to provide updates and key milestones and complete an in-depth data profile, which we hand-checked for accuracy. Brokers also were offered the opportunity to provide executive time for an annual update meeting.
Our rigorous data validation process yields an error rate of less than .001% each year, providing site visitors quality data they can trust. Learn more about how we test.
Vanguard fees and features data
The data collection efforts at StockBrokers.com are unmatched in the industry. The following tables show a deeper dive into the offerings available at this broker. You can also compare its offerings side-by-side with those of other brokers using our Comparison Tool.
In addition to meticulous annual data collection by our in-house analyst, every broker that participates in our review is afforded the opportunity to complete an in-depth data profile. We then audit each data point to ensure its accuracy.
Trading fees
| Feature | |
|---|---|
| Minimum Deposit | $0.00 |
| Stock Trades | $0.00 |
| Mutual Fund Trade Fee | Varies |
| Options (Base Fee) | $0.00 |
| Options (Per Contract) | $1.00 |
| Futures (Per Contract) | (Not offered) |
| Broker Assisted Trade Fee | $25 |
Account fees
| Feature | |
|---|---|
| IRA Annual Fee | $20.00 |
| IRA Closure Fee | $0.00 |
| Account Transfer Out (Partial)info | $0.00 |
| Account Transfer Out (Full)info | $0.00 |
| Options Exercise Fee | $0.00 |
| Options Assignment Fee | $0.00 |
Margin rates
| Feature | |
|---|---|
| Margin Rate Under $25,000 | 13.75% info |
| Margin Rate $25,000 to $49,999.99 | 13.25% |
| Margin Rate $50,000 to $99,999.99 | 12.75% |
| Margin Rate $100,000 to $249,999.99 | 12.25% |
| Margin Rate $250,000 to $499,999.99 | 11.75% |
| Margin Rate $500,000 to $999,999.99 | 10.5% |
| Margin Rate Above $1,000,000 | Varies info |
Investment options
| Feature | |
|---|---|
| Stock Tradinginfo | Yes |
| Margin Trading | Yes |
| Fractional Sharesinfo | No |
| OTC Stocksinfo | Yes |
| Options Tradinginfo | Yes |
| Complex Options Max Legsinfo | 4 |
| Futures Tradinginfo | No |
| Forex Tradinginfo | No |
| Crypto Tradinginfo | No |
| Crypto Trading - Total Coinsinfo | 0 |
| Mutual Funds (No Load)info | N/A |
| Mutual Funds (Total)info | N/A |
| Bonds (US Treasury)info | Yes |
| Bonds (Corporate)info | Yes |
| Bonds (Municipal)info | Yes |
| Advisor Servicesinfo | Yes |
| International Countries (Stocks)info | 0 |
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Order types
| Feature | |
|---|---|
| Order Type - Marketinfo | Yes |
| Order Type - Limitinfo | Yes |
| Order Type - After Hoursinfo | Yes |
| Order Type - Stopinfo | Yes |
| Order Type - Trailing Stopinfo | No |
| Order Type - OCOinfo | No |
| Order Type - OTOinfo | No |
| Order Type - Broker Assistedinfo | Yes |
Beginners
| Feature | |
|---|---|
| Education (Stocks)info | Yes |
| Education (ETFs)info | No |
| Education (Options)info | No |
| Education (Mutual Funds)info | No |
| Education (Bonds)info | No |
| Education (Retirement)info | Yes |
| Retirement Calculatorinfo | Yes |
| Investor Dictionaryinfo | No |
| Paper Tradinginfo | No |
| Videosinfo | Yes |
| Webinarsinfo | No |
| Webinars (Archived)info | No |
| Progress Trackinginfo | No |
| Interactive Learning - Quizzesinfo | No |
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Stock trading apps
| Feature | |
|---|---|
| iPhone Appinfo | Yes |
| Android Appinfo | Yes |
| Apple Watch Appinfo | No |
| Trading - Stocksinfo | Yes |
| Trading - After-Hoursinfo | No |
| Trading - Simple Optionsinfo | No |
| Trading - Complex Optionsinfo | No |
| Order Ticket RT Quotesinfo | Yes |
| Order Ticket SRT Quotesinfo | No |
Stock app features
| Feature | |
|---|---|
| Market Movers (Top Gainers)info | No |
| Stream Live TVinfo | No |
| Videos on Demandinfo | No |
| Stock Alertsinfo | No |
| Option Chains Viewableinfo | No |
| Watch List (Real-time)info | No |
| Watch List (Streaming)info | No |
| Watch Lists - Create & Manageinfo | No |
| Watch Lists - Column Customizationinfo | No |
| Watch Lists - Total Fieldsinfo | 9 |
Stock app charting
| Feature | |
|---|---|
| Charting - After-Hoursinfo | No |
| Charting - Can Turn Horizontallyinfo | No |
| Charting - Multiple Time Framesinfo | Yes |
| Charting - Technical Studiesinfo | 0 |
| Charting - Study Customizationsinfo | No |
| Charting - Stock Comparisonsinfo | No |
Trading platforms overview
| Feature | |
|---|---|
| Active Trading Platforminfo | N/A |
| Desktop Trading Platforminfo | No |
| Desktop Platform (Mac)info | No |
| Web Trading Platforminfo | Yes |
| Paper Tradinginfo | No |
| Trade Journalinfo | No |
| Watch Lists - Total Fieldsinfo | 9 |
Trading platform stock chart features
| Feature | |
|---|---|
| Charting - Adjust Trades on Chartinfo | No |
| Charting - Indicators / Studiesinfo | 9 |
| Charting - Drawing Toolsinfo | 0 |
| Charting - Notesinfo | No |
| Charting - Index Overlaysinfo | Yes |
| Charting - Historical Tradesinfo | No |
| Charting - Corporate Eventsinfo | Yes |
| Charting - Custom Date Rangeinfo | No |
| Charting - Custom Time Barsinfo | No |
| Charting - Automated Analysisinfo | No |
| Charting - Save Profilesinfo | No |
| Trade Ideas - Technical Analysisinfo | No |
| Charting - Study Customizationsinfo | 1 |
| Charting - Custom Studiesinfo | No |
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Day trading features
| Feature | |
|---|---|
| Streaming Time & Salesinfo | No |
| Streaming TVinfo | No |
| Direct Market Routing - Stocksinfo | No |
| Ladder Tradinginfo | No |
| Trade Hot Keysinfo | No |
| Level 2 Quotes - Stocksinfo | No |
| Trade Ideas - Backtestinginfo | No |
| Trade Ideas - Backtesting Advinfo | No |
| Short Locatorinfo | No |
| Order Liquidity Rebatesinfo | No |
Investment research overview
| Feature | |
|---|---|
| Research - Stocksinfo | Yes |
| Research - ETFsinfo | Yes |
| Research - Mutual Fundsinfo | Yes |
| Research - Pink Sheets / OTCBBinfo | Yes |
| Research - Bondsinfo | Yes |
| Screener - Stocksinfo | Yes |
| Screener - ETFsinfo | Yes |
| Screener - Mutual Fundsinfo | Yes |
| Screener - Bondsinfo | Yes |
| Misc - Portfolio Allocationinfo | Yes |
Stock research features
| Feature | |
|---|---|
| Stock Research - PDF Reportsinfo | 2 |
| Stock Research - Earningsinfo | Yes |
| Stock Research - Insidersinfo | No |
| Stock Research - Socialinfo | No |
| Stock Research - Newsinfo | Yes |
| Stock Research - ESGinfo | No |
| Stock Research - SEC Filingsinfo | No |
ETF research features
| Feature | |
|---|---|
| ETFs - Strategy Overviewinfo | No |
| ETF Fund Facts - Inception Dateinfo | No |
| ETF Fund Facts - Expense Ratioinfo | No |
| ETF Fund Facts - Net Assetsinfo | No |
| ETF Fund Facts - Total Holdingsinfo | No |
| ETFs - Top 10 Holdingsinfo | No |
| ETFs - Sector Exposureinfo | No |
| ETFs - Risk Analysisinfo | No |
| ETFs - Ratingsinfo | No |
| ETFs - Morningstar StyleMapinfo | No |
| ETFs - PDF Reportsinfo | No |
View More
Mutual fund research features
| Feature | |
|---|---|
| Mutual Funds - Strategy Overviewinfo | Yes |
| Mutual Funds - Performance Chartinfo | Yes |
| Mutual Funds - Performance Analysisinfo | Yes |
| Mutual Funds - Prospectusinfo | Yes |
| Mutual Funds - 3rd Party Ratingsinfo | No |
| Mutual Funds - Fees Breakdowninfo | Yes |
| Mutual Funds - Top 10 Holdingsinfo | Yes |
| Mutual Funds - Asset Allocationinfo | No |
| Mutual Funds - Sector Allocationinfo | Yes |
| Mutual Funds - Country Allocationinfo | No |
| Mutual Funds - StyleMapinfo | Yes |
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Options trading overview
| Feature | |
|---|---|
| Option Chains - Basic Viewinfo | Yes |
| Option Chains - Strategy Viewinfo | No |
| Option Chains - Streaminginfo | No |
| Option Chains - Total Columnsinfo | 9 |
| Option Chains - Greeksinfo | 0 |
| Option Chains - Quick Analysisinfo | No |
| Option Analysis - P&L Chartsinfo | No |
| Option Probability Analysisinfo | No |
| Option Probability Analysis Advinfo | No |
| Option Positions - Greeksinfo | No |
| Option Positions - Greeks Streaminginfo | No |
| Option Positions - Adv Analysisinfo | No |
| Option Positions - Rollinginfo | No |
| Option Positions - Groupinginfo | No |
View More
Banking features
| Feature | |
|---|---|
| Bank (Member FDIC)info | No |
| Checking Accountsinfo | No |
| Savings Accountsinfo | No |
| Credit Cardsinfo | No |
| Debit Cardsinfo | No |
| Mortgage Loansinfo | No |
Customer service options
| Feature | |
|---|---|
| Phone Support (Prospect Customers)info | Yes |
| Phone Support (Current Customers)info | Yes |
| Email Supportinfo | Yes |
| Live Chat (Prospect Customers)info | No |
| Live Chat (Current Customers)info | No |
| 24/7 Supportinfo | No |
Compare Vanguard
See how Vanguard stacks up against other brokers.
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About the Editorial Team
Sam Levine, CFA, CMT
Sam Levine has over 30 years of experience in the investing field as a portfolio manager, financial consultant, investment strategist and writer. He also taught investing as an adjunct professor of finance at Wayne State University. Sam holds the Chartered Financial Analyst and the Chartered Market Technician designations and is pursuing a master's in personal financial planning at the College for Financial Planning. Previously, he was a contributing editor at BetterInvesting Magazine and a contributor to The Penny Hoarder and other media outlets.
Chris McKhann
Chris McKhann has been in the industry for more than 20 years. He has worked for many of the top names in the online trading space, including TD Ameritrade and optionMONSTER, which later became part of E*TRADE. His work has been cited in the Wall Street Journal, Reuters, the Financial Times, Forbes, CNBC, Nasdaq.com and Nikkei. He has also been an advisor and outside trader for several hedge funds. He was one of the first traders to delve into the VIX tradable products and to write about them (back in 2006). Chris is also an educator who teaches high school statistics, finance and computer science.
Carolyn Kimball
Carolyn Kimball is managing editor for Reink Media and the lead editor for the StockBrokers.com Annual Review. Carolyn has more than 20 years of writing and editing experience at major media outlets including NerdWallet, the Los Angeles Times and the San Jose Mercury News. She specializes in coverage of personal financial products and services, wielding her editing skills to clarify complex (some might say befuddling) topics to help consumers make informed decisions about their money.
Steven Hatzakis
Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.
