Vanguard finally joins the crowd by dropping stock commissions to zero
I was excited to get an email from Vanguard this morning. They have finally followed other peer brokers (TD, Robinhood, etc) in eliminating stock commissions entirely. This is huge news for investors as Vanguard has been one of the best brokerages in the game.
This move is expected for a company like Vanguard because they expands already had a pretty good commission-free platform, which has included mutual funds since 1977 and nearly every ETF in the industry since 2018.
Other discount brokerages like Robinhood should be worried as their competitors are moving into their territory. Vanguard and other larger brokerage firms can offer more research tools and trading functionality. I use multiple brokerages so this race to zero commissions has been great for me.
As this trend continues individuals should still be looking at expenses, fees or commissions for actively managed accounts as companies will need to make up the loss of income from traditional commissions.
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