Best Reviewed
Online Brokers
- Best online broker overall Fidelity *Est. $7
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- Best for active traders ThinkOrSwim *Est. $9
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- Good customer service
- Large selection of low-cost mutual funds
- Low costs for buy-and-hold investors
- Higher costs for frequent traders
- No mobile apps
- Minimum investment $3,000
Few experts review Vanguard because its brokerage services mainly support its fund business -- the firm is known for its proprietary mutual funds with low expense ratios. Individual investors give Vanguard high marks, however. Vanguard offers a range of investment products, an easy-to-use website and good customer support. This online broker is most suitable for buy-and-hold investors. If you trade frequently and want advanced trading technology at a reasonable cost, experts recommend thinkorswim.
Vanguard is included in large customer satisfaction surveys conducted by ConsumerReports.org and J.D. Power and Associates. TopTenReviews.com and LearningMarkets.com have reviews.
Our Sources
1. ConsumerReports.orgDetails/Subscribe
ConsumerReports.org ranks 17 brokers firms based on a survey of 8,969 online respondents. The editors rate brokers on account service, website, phone service and in-person service. Vanguard is included in the ratings.
Review: Brokerage Service Ratings, Editors of ConsumerReports.org, May 2009
This annual survey asks more than 4,000 investors who make all of their investment decisions without an investment adviser to rate their brokerages. For 2010, Vanguard gets the best ratings and is ranked number one. According to a news release about the survey, Vanguard "performs particularly well in account offerings and account information."
Review: 2010 Self-Directed Investor Satisfaction Study, Editors of J.D. Power and Associates, Sept. 30, 2010
Vanguard is ranked 16th of the 18 brokers reviewed here. According to the review, "Vanguard can be pricey, especially for small time investors who trade often."
Review: Vanguard Review, Editors of TopTenReviews.com
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