Anyone have experience with Vanguard's brokerage services?

[disneysteve]

I learned in another thread that Vanguard charges only $7/trade for their stock purchases. I was under the impression that it was higher than that. That is the same price I pay at Scottrade and the only reason I have that account is because I wanted low commission costs. So I'm thinking about transferring that account into Vanguard, where the rest of my retirement money is already.

Have any of you used Vanguard's brokerage services? Any issues or complaints? I don't do much stock buying or trading but I do dabble here and there, maybe 4-6 transactions per year. As long as they provide at least average service, it should be fine for my needs. It would be convenient to have one less account to keep track of.

[GrimJack]

It looks to me like as long as you make 25 or fewer trades they are $7.00 - on the plus side, once you have over a million dollars with them, the first 25 trades are free.

[nck4857]

I've used it a little. Scottrade is designed for buying and selling stocks, so it's probably better if that's strictly what you want to do. Scottrade defiantly has an advantage when it comes to researching and buying/selling tools. You could, however, research everything using Scottrade and place your actual order through Vanguard. The main advantage to Vanguard, as I see it, is that you can purchase Vanguard ETF's transacation free.

Vanguard is basically built for the more long-term buy and hold type investor, instead of someone is more like a day-trader, which is more of what Scottrade is built for.

[kork13]

I use Vanguard's Brokerage, but only to buy monthly shares in one of their ETF's, which as stated is commission-free... But the system and interface is just fine, I think I'd generally call it "average". Honestly not sure what would be looked for in Brokerage services, but it's perfectly capable for regular trading.

[kv968]

I was planning on opening another Roth at Scottrade so I could trade some stocks but was thinking instead of Vanguard since I could get the same commission for up to 25 trades/yr plus access to their commission-free ETF's (which are WAY better than Scottrades). If I go this route I'll probably do what nck suggested and use Scottrade for the research and then Vanguard for the execution. My main concern was how well the orders were filled with Vanguard and how their interface stacked up. I guess it's all pretty good so maybe I'll open that account when I get the money.

[LMA]

I currently use Vanguard for both mutual funds and to trade stocks and can verify that the $7fee is true. Their website is awesome and they make it very easy for even me to figure out how to trade.

Like you mention I don't do a lot of trading either but I just want the flexibility to supplement my portfolio with single stock or ETF's from other companies which I can purchase through Vanguard.

[ecoadapt]

Vanguard is basically built for the more long-term buy and hold type investor

If this is what you want to achieve then, Vanguard would be good catch!

[GrimJack]

I was planning on opening another Roth at Scottrade so I could trade some stocks but was thinking instead of Vanguard since I could get the same commission for up to 25 trades/yr plus access to their commission-free ETF's (which are WAY better than Scottrades). If I go this route I'll probably do what nck suggested and use Scottrade for the research and then Vanguard for the execution. My main concern was how well the orders were filled with Vanguard and how their interface stacked up. I guess it's all pretty good so maybe I'll open that account when I get the money.

I switched from TDWaterhouse to Scottrade then found out they do not automatically Drip IRAs so I went back to TDW for the DRIPing.

[kv968]

I switched from TDWaterhouse to Scottrade then found out they do not automatically Drip IRAs so I went back to TDW for the DRIPing.

That's the other thing I don't like about Scottrade for longer term investing...no dividend reinvestment. I talked to them about that 4 years ago or so and they said they were working on it but evidentally it's not working out so well.

[Mr Nice Guy]

That's the other thing I don't like about Scottrade for longer term investing...no dividend reinvestment. I talked to them about that 4 years ago or so and they said they were working on it but evidentally it's not working out so well.

My dividends from mutual funds can be reinvested with my Scottrade IRA, stocks cannot.

[kv968]

My dividends from mutual funds can be reinvested with my Scottrade IRA, stocks cannot.

And that's the problem, I'd like the stock dividends to be reinvested