We strive to give you the best price on trades with:
5.68%
Effective over quoted spread*
Effective over quoted spread (E/Q) is the industry measurement for trade quality. The lower the percentage, the better. We’re constantly working to give you the best price on trades, and those efforts are reflected in our low E/Q.
99%
Of Vanguard ETFs® traded at midpoint**
A trade at the midpoint of the quoted spread is generally considered the best price available. We provided midpoint pricing on over 99% of Vanguard ETF® trades.**
$2.67
Savings per 100-share order
Competitive trades add up to real savings. On average, investors would have saved $2.67 for a 100-share order compared to the National Best Bid and Offer (NBBO).** More shares mean more savings, with $26.76 for 1,000 shares.
View the quarterly reports for Vanguard Brokerage Services®†
4 ways Vanguard Brokerage Services puts you first
Give you information designed to help you stay the course.
We provide all investors a long-term perspective and trading strategies to advance their goals.
How this benefits you:
It helps you stay committed to the future you envisioned for your money.
Strive to get you the best price for your orders.
We route orders to the market centers that consistently execute at a price better than NBBO. We're never compensated for routing your orders to specific market centers.
How this benefits you:
We don’t have a financial incentive to encourage you to trade.
Offer world-class, carefully curated products and services.
We tie our product offerings to our mission. That's why we focus on high-quality, low-cost mutual funds, ETFs (exchange-traded funds), and more.
How this benefits you:
You’ll gain exposure to products that have enduring investment merit, not pushed toward the flashy trends.
Help you minimize trading costs and taxes on stocks and ETFs.
We offer $0 commission on stocks and ETFs traded online. To keep taxes low, you can easily trade within your IRA or use first-in, first-out accounting.
How this benefits you:
You enjoy low costs across the board—we don’t raise costs someplace else to make up the difference.
Not sure where to start? Try our investor quick-start tool to see what’s best for your investment journey.
1For the 10-year period ended December 31, 2025, 6 of 6 Vanguard money market funds, 72 of 104 Vanguard bond funds, 21 of 23 Vanguard balanced funds, and 176 of 193 Vanguard stock funds—for a total of 275 of 326 Vanguard funds—outperformed their Lipper peer-group averages. Results will vary for other time periods. Only mutual funds and ETFs (exchange-traded funds) with a minimum 10-year history were included in the comparison. Source: LSEG Lipper. The competitive performance data shown represent past performance, which is not a guarantee of future results. View fund performance.
For more information about Vanguard funds or ETFs, visit vanguard.com to obtain a prospectus or, if available, a summary prospectus. Investment objectives, risks, charges, expenses, and other important information about a fund are contained in the prospectus; read and consider it carefully before investing.
Vanguard ETF Shares are not redeemable with the issuing Fund other than in very large aggregations worth millions of dollars. Instead, investors must buy and sell Vanguard ETF Shares in the secondary market and hold those shares in a brokerage account. In doing so, the investor may incur brokerage commissions and may pay more than net asset value when buying and receive less than net asset value when selling.
All investing is subject to risk, including the possible loss of the money you invest.
Advice services are provided by Vanguard Advisers, Inc., a registered investment advisor, or by Vanguard National Trust Company, a federally chartered, limited-purpose trust company.
The services provided to clients will vary based upon the service selected, including management, fees, eligibility, and access to an advisor. Find VAI’s Form CRS and each program’s advisory brochure here for an overview.
VAI and VNTC are subsidiaries of the Vanguard Group Inc. and affiliates of Vanguard Marketing Corporation. Neither VAI, VNTC, nor its affiliates guarantee profits or protection from losses.
Research our firm with FINRA’s BrokerCheck.
Investment Adviser Form Client Relationship Summary (Form CRS) (PDF)
Broker-Dealer Form Client Relationship Summary (Form CRS) (PDF)