The firm appears uninterested in competing with shiny, modern brokerages designed to provide a full gamut of tools needed for frequent trading.
Meanwhile, the platform isn’t at all optimized to enable rapid, fluid trading-given Vanguard’s attitude, that’s no accident. Consider the slow process to get an account: You can complete the application online in minutes, but it takes up to five days for Vanguard to review it before you can open your account. If all you’re looking for in an online brokerage platform is a way to supplement your workplace 401(k) plan by investing in an individual retirement account ( IRA) or growing your funds in a taxable brokerage account-and you have no desire to pay close attention to day-to-day changes in the market-Vanguard could be a great choice.īut even for buy-and-hold investors, there are some aspects of Vanguard that may feel a bit behind the times. Bogle: Active trading is a mug’s game, fees should be cut to the bone and new investors need plenty of guidance. Vanguard’s approach embodies the investing principles of founder John C. Vanguard’s online brokerage platform caters to buy-and-hold investors pursuing long-term goals.
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