Fidelity vs. Vanguard
Both charge nothing for online stock and ETF trades. The gaps are in the smaller fees: options contracts, phone trades, leaving the firm, and Vanguard’s $25 account fee if you skip e-delivery.
Disclosure: links on this page currently go straight to each provider’s own site, and we don’t earn a commission from them. If we join a provider’s affiliate program later, that will never change which products we include or how we order them. How we make money.
How this page was made: it’s built from each provider’s own terms, rate and fee pages and from regulator sources, all listed at the bottom. We haven’t opened these accounts or products to test them, and we don’t give scores. Every rate shows the day we checked it. Our methodology.
Quick answer
Short answer: on Nov 10, 2026, Fidelity charged less for most extras: $0.65 per options contract vs. Vanguard’s $1, $0 to transfer assets out vs. Vanguard’s $100 account-closure fee, and no annual account fee. Vanguard charged less for non-Vanguard transaction-fee funds ($20 vs. $49.95). Online stock and ETF trades are $0 at both.
Last updated Rates checked Nov 10, 2026
Key facts at a glance
| Fidelity brokerage account | Vanguard Brokerage Account | |
|---|---|---|
| Online stock and ETF trades | $0 (online US stock and ETF trades) as of Nov 10, 2026 | $0 (online stock and ETF trades) as of Nov 10, 2026 |
| Options | $0.65 per contract (online options) as of Nov 10, 2026 | $1 per contract (online or broker-assisted, under $1 million in qualifying assets) as of Nov 10, 2026 |
| Phone (broker-assisted) stock trades | Not listed on the page we read | $25 per trade |
| Own-brand mutual funds | $0 for Fidelity funds | $0 online for Vanguard funds |
| Non-proprietary transaction-fee funds | $49.95 per purchase | $20 per trade online |
We read Fidelity’s commissions and fees page and Vanguard’s brokerage commission and fee schedule (which Vanguard says took effect July 10, 2026), plus each firm’s account pages, on Nov 10, 2026. Fees below are for clients with under $1 million at Vanguard; several Vanguard fees drop or disappear above that. We have no affiliate relationship with either firm.
Fidelity brokerage account vs Vanguard Brokerage Account: side-by-side
| Fidelity | Vanguard (under $1M in assets) | |
|---|---|---|
| Online stock and ETF trades | $0 (online US stock and ETF trades) as of Nov 10, 2026 | $0 (online stock and ETF trades) as of Nov 10, 2026 |
| Options | $0.65 per contract (online options) as of Nov 10, 2026 | $1 per contract (online or broker-assisted, under $1 million in qualifying assets) as of Nov 10, 2026 |
| Phone (broker-assisted) stock trades | Not listed on the page we read | $25 per trade |
| Own-brand mutual funds | $0 for Fidelity funds | $0 online for Vanguard funds |
| Non-proprietary transaction-fee funds | $49.95 per purchase | $20 per trade online |
| Short-term redemption of no-transaction-fee funds | $49.95 if held under 60 days | $50 if sold within 60 days of purchase |
| Annual account fee | None listed | $25 annual account service fee (waived with e-delivery or $1 million in qualifying assets) as of Nov 10, 2026 |
| Transferring assets out | $0 per transfer | $100 per account (account closure and full transfer to another firm; waived at $5 million+) as of Nov 10, 2026 |
| Domestic wires | $0 | $10 (waived for retirement accounts) |
| Account minimum | None | None (individual funds have their own minimums) |
| Fractional shares | US stocks and ETFs from $1 | Not covered on the pages we read |
What are the pros and cons?
Fidelity brokerage account: pros
- $0.65 options contracts
- No fee to transfer out
- No account fee or wire fee
- Fractional shares from $1
Fidelity brokerage account: cons
- $49.95 to buy transaction-fee funds from other companies
Vanguard Brokerage Account: pros
- $20 for transaction-fee funds
- Vanguard funds commission-free online
Vanguard Brokerage Account: cons
- $25 annual fee unless you choose e-delivery
- $100 to close and transfer an account
- $1 per options contract
- $25 for phone trades
Which should you choose: Fidelity brokerage account or Vanguard Brokerage Account?
For a buy-and-hold investor using index funds, both are inexpensive. Vanguard’s extra fees are mostly avoidable: choose e-delivery to skip the $25 account fee, trade online, and use ACH rather than wires. The fee that’s hard to avoid is the $100 charge to close and transfer an account. If you trade options or might move firms later, Fidelity costs less.
Choose Fidelity brokerage account if…
- You trade options
- You want fractional shares of individual stocks
- You want no fee if you move your account later
Choose Vanguard Brokerage Account if…
- You plan to hold Vanguard mutual funds long term
- You’ll buy other companies’ transaction-fee funds
- You’re comfortable with e-delivery
Who should skip this
- You want someone else to manage it. See robo-advisors.
- You need the money within a few years. A high-yield savings account doesn’t fluctuate.
Frequently asked questions
Is Fidelity or Vanguard cheaper?
How do I avoid Vanguard’s $25 account fee?
What are Vanguard fund minimums?
Are my investments protected?
Do you earn money from either?
Sources
Every source below was opened and read for this page (rates last checked Nov 10, 2026). Providers’ own pages are labeled with the provider’s name; regulator pages are labeled with the agency. Rates and terms change often, so confirm on the provider’s site before you apply.
- Fidelity: Commissions, margin rates and fees (fidelity.com, checked Nov 10, 2026)
- Fidelity: Fractional shares (fidelity.com, checked Nov 10, 2026)
- Vanguard: Brokerage commission and fee schedules (effective July 10, 2026) (investor.vanguard.com, checked Nov 10, 2026)
- Vanguard: Brokerage accounts (investor.vanguard.com, checked Nov 10, 2026)
- Vanguard: Fund and ETF list with expense ratios and minimums (investor.vanguard.com, checked Nov 10, 2026)
- SIPC: What SIPC protects (sipc.org, checked Nov 10, 2026)
Related
Best brokerage accounts for beginners
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comparisonFidelity vs. Schwab
On core costs, the two are nearly identical: $0 online stock and ETF trades, $0.65 per options contract and no account minimums. The differences show up in fractional share coverage, robo-advisor pricing and extras.