Vanguard Review
The pioneer of low-cost index fund investing. Independent Vanguard review: 4.5/5 for brokerage. Best for Long-term retirement savers.
By Michael Hewitt, Founder & Editor-in-Chief. Rates last checked September 7, 2026.
Our verdict
Fund costs are why long-term retirement savers pick Vanguard: its funds average a 0.07% expense ratio, and stocks, ETFs and Vanguard mutual funds trade for $0. The trade-offs are a dated web and mobile interface and a $1 options contract fee, which is what keeps it from ranking higher.
Skip it if you trade actively or trade options, or want a modern web and mobile interface.
About Vanguard
The pioneer of low-cost index fund investing. Vanguard is offered by The Vanguard Group. Our editorial rating is 4.5 out of 5.
Best for: Long-term retirement savers.
Editorial grade: A (composite score 90/100).
Highlights
- Industry-low 0.07% avg. expense ratio on Vanguard funds
- $0 commissions on stocks, ETFs, and Vanguard mutual funds
- Client-owned structure, with profits reinvested to lower fund fees
What we like
- Lowest average fund expense ratios in the industry
- Gold standard for IRAs, Roth IRAs, and 401(k) rollovers
- Admiral Shares classes for ultra-low-cost index funds
- Taxable, IRA, Roth IRA, SEP-IRA, 529, and trust accounts
Where it falls short
- Dated web and mobile interface vs. Fidelity/Schwab
- $1 options contract fee (above industry standard)
- Not built for active or options traders
Fees, minimums, and rates
Monthly fee: $0 trades. Minimum to open: $0. Rates and fees last checked on September 7, 2026.
How we reviewed it
This is a desk review: we have not opened an account with The Vanguard Group. It is built from The Vanguard Group's published rates, fee schedule and terms and from the public complaint record, and compared with the other products in the Brokerage shortlist. Our brokerage and robo-advisor reviews weight costs and fees (25%), platform and tools (20%), asset selection (15%), account types (10%), education and research (10%), customer support (10%), and trust and safety (10%). The rubric is the same for every brand.
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Read our full editorial methodology for how we review products.