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Vanguard Brokerage Services® commission & fee schedules

Enjoy competitive commissions on all your trades. Better yet, find out how often you'll pay no commission at all!

As of November 19, 2018

CDs & bonds

U.S. Treasury securities

Available commission-free, regardless of how much money you have in your Vanguard Brokerage Account or whether you trade online or by phone.

U.S. government agency securities, corporate bonds, and CDs (certificates of deposit)

New issues require a minimum $10,000 purchase. Existing issues are subject to other minimums. All sales of CDs before they mature are commission-free.


ASSETS INVESTED IN VANGUARD ETFs® & MUTUAL FUNDS
Less than $50,000
(Standard)
NEW ISSUES

$0

EXISTING ISSUES

$2 per $1,000 face amount
($250 maximum)


ASSETS INVESTED IN VANGUARD ETFs® & MUTUAL FUNDS
$50,000 to $500,000
(Voyager Services®)
NEW ISSUES

$0

EXISTING ISSUES

$2 per $1,000 face amount
($250 maximum)


ASSETS INVESTED IN VANGUARD ETFs® & MUTUAL FUNDS
$500,000 to $1 million
(Voyager Select Services®)
NEW ISSUES

$0

EXISTING ISSUES

$1 per $1,000 face amount
($250 maximum)


ASSETS INVESTED IN VANGUARD ETFs® & MUTUAL FUNDS
$1 million to $5 million
(Flagship Services®)
NEW ISSUES

$0

EXISTING ISSUES

$1 per $1,000 face amount
($250 maximum)


ASSETS INVESTED IN VANGUARD ETFs® & MUTUAL FUNDS
$5 million or more
(Flagship Select Services®)
NEW ISSUES

$0

EXISTING ISSUES

$1 per $1,000 face amount
($250 maximum)

Municipal bonds

All municipal bonds require a minimum $10,000 purchase, which is also subject to dealer minimums.


ASSETS INVESTED IN VANGUARD ETFs & MUTUAL FUNDS
Less than $50,000
(Standard)
NEW ISSUES

$50 if a fee concession isn't available

EXISTING ISSUES

$2 per $1,000 face amount
($250 maximum)


ASSETS INVESTED IN VANGUARD ETFs & MUTUAL FUNDS
$50,000 to $500,000
(Voyager Services)
NEW ISSUES

$50 if a fee concession isn't available

EXISTING ISSUES

$2 per $1,000 face amount
($250 maximum)


ASSETS INVESTED IN VANGUARD ETFs & MUTUAL FUNDS
$500,000 to $1 million
(Voyager Select Services)
NEW ISSUES

$50 if a fee concession isn't available

EXISTING ISSUES

$1 per $1,000 face amount
($250 maximum)


ASSETS INVESTED IN VANGUARD ETFs & MUTUAL FUNDS
$1 million to $5 million
(Flagship Services)
NEW ISSUES

$50 if a fee concession isn't available

EXISTING ISSUES

$1 per $1,000 face amount
($250 maximum)


ASSETS INVESTED IN VANGUARD ETFs & MUTUAL FUNDS
$5 million or more
(Flagship Select Services)
NEW ISSUES

$50 if a fee concession isn't available

EXISTING ISSUES

$1 per $1,000 face amount
($250 maximum)

Mortgage-backed securities and commercial paper

All are available at $50 per transaction.

Unit investment trusts (UITs)

You can sell existing UITs for $35 per transaction. (New issues aren't available.)