Companies like Vanguard

Vanguard Competitors


Who are the biggest Vanguard competitors and alternatives? Companies like Vanguard (similar companies) in 2022.


Vanguard Competitors


Vanguard is a discount broker, offering its clients a variety of financial products and trading tools. But Vanguard has strong competitors in TD Ameritrade, Charles Schwab and E*Trade. So how does Vanguard's biggest rivals compare? Let's take a look.

Vanguard Competitors Pricing


Broker Fees Stock/ETF
Commission
Mutual Fund
Commission
Options
Commission
Maintenance
Fee
Annual IRA
Fee
TD Ameritrade $0 $49.99 ($0 to sell) $0 $0
Charles Schwab $0 $49.95 $0.65 per contract $0 $0
Etrade $0 $19.95 $0.65 per contract $0 $0


Vanguard Competitors Services


Broker Review Cost Investment Products Trading Tools Customer Service Research Overall Rating
TD Ameritrade
Charles Schwab
Etrade


Commissions and Account Requirements


Buying and selling equities at E*Trade, Schwab and TD Ameritrade incurs a $0 charge. Derivative traders at all three brokers pay $0.65 per option contract.

Using a living, breathing broker at TD Ameritrade and E*Trade to buy or sell is $25, while Schwab is at $33.95.

A brokerage account with any of the three brokers comes with no maintenance fees or inactivity fees. E*Trade has a 500 minimum initial deposit requirement while TD Ameritrade and Schwab have no minimum.


Vanguard Rivals


Mutual Funds and ETFs


Investors at Schwab can trade over 5,000 mutual funds. More than 3,500 of these are OneSource funds, which have neither load nor transaction fee. Mutual funds that have a transaction fee are an expensive $49.95 to purchase, but there is no charge to sell.

TD Ameritrade customers have access to over 13,000 mutual funds. Over 4,400 have no load and no transaction fee. A $49.99 commission is charged to buy a transaction-fee fund (selling is free).

E*Trade provides more than 8,000 mutual funds. Roughly 4,400 of these are available with no load and no transaction fee. A $19.99 charge is assigned for transaction-fee funds (both buying and selling).


Companies like Vanguard


Customer Service


Schwab offers customer service over the telephone 24/7. The broker also has representatives who speak Chinese. Furthermore, the company operates a nationwide network of branches with more than 300 locations currently.

E*Trade operates 30 branch locations. The broker has customer support over the phone 24 hours a day, 7 days a week.

TD Ameritrade also has customer service reps on the phone all hours of the day. The broker has a nationwide network of branches. Presently, there are over 450 locations.


Trading Tools


E*Trade's web site is nicely designed. Clients can use advanced trading platform, Etrade Pro, in either browser or desktop format. However, active trader requirements must be met.

Schwab's web site is not as attractive as E*Trade's, but is user friendly nevertheless. Traders can place orders using the web browser, or with StreetSmart Edge, an advanced trading system. The platform just requires a $1,000 account balance.

TD Ameritrade operates three platforms(!). The simplest is the web browser. Second in line is Trade Architect, which is Java-based. Last, but certainly not least, is Thinkorswim. This is a very advanced platform. TD Ameritrade has no active trader requirements for any product.


Companies similar to Vanguard


Mobile Platforms


Schwab offers an app that can be used on Kindle Fire, Android, iPad, iPhone, Apple Watch, and mobile web. The mobile platform is easy to learn. Several features are available, such as funds transfer, mobile check deposit, and live streaming of CNBC.

Live streaming of CNBC is also available on TD Ameritrade's app. The broker maintains three different apps. They can be used on Android, iPhone, iPad, and Apple Watch. The most basic app can be used on Windows 10. Users can perform many tasks, such as deposit a check, read market news, or watch business videos from CNBC and Reuters.

E*Trade has mobile applications for Windows phone, Android phone and tablet, iPad, iPhone, Apple Watch, Amazon Fire phone, and Kindle Fire HD. Features include charts, a video library, and mobile check deposit. Unfortunately, only active traders can access streaming of CNBC.





Cash Management


E*Trade clients can open a checking account that comes with checks and a debit card free of charge. The firm rebates ATM fees for accounts with balances above $5,000.

TD Ameritrade has a checking account with checks and a debit card. There is no charge for the account, and ATM fees are refunded. The account is insured by the FDIC up to $500,000.

A checking account is also available at Schwab. It comes with checks and a debit card free of charge. ATM fees are reimbursed, and FDIC insurance covers the first $250,000.





Recommendations


Thanks to more free services and top-notch trading technology, we strongly recommend TD Ameritrade to most customers, especially to beginners, stock, forex, futures, and penny stock traders. It is also excellent for long-term and do-it-yourself investors, mutual funds investing, IRA accounts, and clients new to investing.

Etrade is our recommendation for IRA accounts (Traditional, ROTH, SEP, 401(k), and Rollover) as well as bonds investing.

Charles Schwab is a very good broker for retirement accounts and for long-term investors.


Promotions


TD Ameritrade: $0 commissions + transfer fee reimbursement.

Open TD Ameritrade Account


Charles Schwab: Get commission-free online stock trades.

Open Schwab Account


Etrade: Get zero commission on stock and ETF trades.

Open Etrade Account


Updated on 4/30/2022.


About the Author
Chad Morris is a financial writer with more than 20 years experience as both an English teacher and an avid trader. When he isn’t writing expert content for Brokerage-Review.com, Chad can usually be found managing his portfolio or building a new home computer.