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Vanguard Brokerage Services® commission & fee schedules

Stay focused on your financial goals with confidence that you're not paying too much.

As of January 25, 2021

Fees for other services


AMOUNT

Vanguard Brokerage Services charges a $20 annual account service fee. We don't charge the fee to any of the following:

  • Clients who have an organization or a trust account registered under an employee identification number (EIN).
  • Clients who hold at least $10,000 in Vanguard ETFs® (exchange-traded funds) and mutual funds.
  • Clients who've elected e-delivery of statements; our annual privacy policy notice; and brokerage and mutual fund confirmations, reports, prospectuses, and proxy materials.
  • Clients with at least $50,000 in qualifying Vanguard assets.

FEE TYPE

American Depositary Receipts (ADRs)

AMOUNT

Banks that custody ADRs are permitted to charge ADR holders certain fees, as 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.


FEE TYPE

Foreign securities transactions

AMOUNT

$50 processing fee for non-DTC-eligible securities (not applicable to ADRs) 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.


FEE TYPE

Wire transfers

AMOUNT

Vanguard Brokerage charges a $10 wire fee for each holding you're redeeming. However, this fee is waived for clients who hold at least $1 million in qualifying Vanguard assets. While Vanguard doesn't charge a fee for electronic bank transfers or wire, your bank may charge you a fee.


FEE TYPE

Tax filing for Master Limited Partnerships (MLPs) in an IRA

AMOUNT

Vanguard Fiduciary Trust Company (VFTC), the custodian for IRAs held at Vanguard Brokerage Services, is responsible for IRS 990-T tax filings for MLPs. VFTC charges a fee of $300 per account for these filings.* Vanguard Brokerage will facilitate collection of the fee by deducting the fee amount from your brokerage account when a filing is required.


FEE TYPE

Miscellaneous

AMOUNT

Other securities transaction or maintenance fees may apply. Call us for additional information.

*The fee applies to tax filings for the tax year 2020 and thereafter. If you hold $1 million or more in Vanguard ETFs and Vanguard funds or you’re a Personal Advisor Services client, this fee will be waived.

REFERENCE CONTENT

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Other conditions & costs that may apply

Commission-free trading of Vanguard ETFs applies to trades placed both online and by phone. Commission-free trading of non-Vanguard ETFs applies only to trades placed online; most clients will pay a commission to buy or sell non-Vanguard ETFs by phone. It also excludes leveraged and inverse ETFs, which can't be purchased through Vanguard Brokerage but can be sold with a commission. Commission-free trading of non-Vanguard ETFs also excludes 401(k) participants using the Self-Directed Brokerage Option; see your plan's current commission schedule. Vanguard Brokerage reserves the right to change the non-Vanguard ETFs included in these offers at any time. All ETFs are subject to management fees and expenses; refer to each ETF's prospectus for more information. All ETF sales are subject to a securities transaction fee. Account service fees may also apply.