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Vanguard Referral Bonus: Refer a Friend Program
Vanguard friend referral bonus program offer promotion link for recommended friend to open new brokerage account in 2018
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You can recommend your family or friends to open an account with Vanguard using company's "Tell a Friend Tool". Information on how to do it is located
under this link.
Unfortunately, neither you nor your recommended friend will receive any bonus, promotion offer, free trades, or any other perks. For a great Refer-a-Friend
bonuses you'll have to use referral program from TD Ameritrade.
Read Vanguard Account Review »
Vanguard Complaints Introduction
Vanguard has received a lot of praise over the years for some of its policies, but the firm still receives complaints from a few clients. This article will explore these criticisms and see which brokers perform better.
Vanguard Complaints List
A frequent criticism of Vanguard is its complicated pricing schedule. Unlike
Ally Invest, which has a simple flat commission of $4.95 for most customers
($3.95 for active investors), Vanguard has a tiered schedule where clients are charged different commissions based on account size. For
example, an account with less than $50,000 in Vanguard assets pays $7 for the first 25 equity trades in a year, and then the commission
switches to $20. Accounts with more than a half million dollars always pay $2, while accounts over a million first receive 25 trades free of
charge. Some traders will prefer a simpler schedule.
Vanguard traders have complained about the broker's website. It is harder to navigate than the Merrill Edge site. Vanguard's menus produce pages that require further navigation. It's oftentimes difficult to find what you're looking for on the Vanguard site. A search field in the upper-right corner of the site does help locate information, although the firm's website definitely needs an overhaul.
Vanguard receives a lot of complaints about its customer service. First of all, it's not available 24/7. E*Trade, by comparison, has agents on the phone around the clock. Vanguard also doesn't offer on-line chat, nor does it have a network of local branches. Some Vanguard customers have simply given up and switched to Fidelity, where they feel they receive more competent service.
Vanguard customers have access only to securities. The firm does not offer trading in futures or forex, which TD Ameritrade does offer.
The major Vanguard complaint is trading tools at the broker are rather simple. A chart on the Vanguard site cannot be detached to form its own window. There are just a handful of technical studies available, and a graph also cannot be displayed the width of the screen. E*Trade provides much better charting capability. There is also no trade bar on Vanguard's site, and the broker fails to offer a desktop platform.
The Vanguard mobile app has several deficiencies compared to some of its rivals' apps. For example, the Vanguard platform does not offer live streaming of financial news, which Schwab does offer. There is no funds transfer capability, nor can users pay bills. Surprisingly, there is no charting for securities on the mobile app.
The Vanguard site doesn't have a community forum where traders can talk about investment ideas and seek help from a company representative. Such a forum does exist on the Ally Invest website, by contrast.
Although Vanguard does offer checks and a debit card, they come with very steep account requirements. Specifically, accounts must have half a million dollars to qualify for cash management features. Even then, the broker still charges a $30 annual fee. Clients with more than a $1,000,000 in assets don't have to pay the fee. Accounts with less than this amount must pay for check re-orders and bill pay. Schwab checking has none of these drawbacks.
Vanguard's commission schedule for options is quite a bit higher than the fees charged by other firms. Option contracts at Vanguard cost $1
plus a base charge of $2, $7, or $20. Small accounts (defined as having less than $50,000 in Vanguard funds) pay the $20 base charge. This
pricing schedule is much higher than Ally Invest, where options cost 65ยข plus a $4.95 base.
Vanguard only offers market, limit, stop, and stop limit orders. Trailing stop and other advanced order types are not available.
TD Ameritrade, by contrast, has no less than 16 order types.
Recap
Complaints have been raised by Vanguard clients, but those who can invest at least $50,000 in Vanguard funds will receive
competitive rates most of the time. Bargain seekers will be pleased with Ally Invest.
Vanguard Friend Refer Program Disclaimer
Vanguard referral bonus terms can change at any time without notice. For the most recent information on Vanguard
friend refer program offer to open account visit their website.
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