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U.S. long-term investors · retirement investors · index-fund and ETF investors

Evidence supports Fidelity as a U.S.-focused, highly regulated multi-asset broker for stocks, ETFs, mutual funds, bonds/CDs, options, cash management, managed portfolios, and sepa…

Vanguard Marketing Corporation / Vanguard Brokerage Services is a FINRA-regulated broker-dealer and SIPC member; SEC number appears in FINRA BrokerCheck.

Fidelity Brokerage Services LLC is SEC registered and regulated by FINRA; FBS and NFS are members of NYSE and SIPC.

CRD#: 7452; SEC#: 8-21570

FBS CRD# 7784 / SEC# 8-23292; NFS CRD# 13041 / SEC# 801-50706, 8-26740.

Brokerage assets are held through Vanguard Brokerage Services, a division of Vanguard Marketing Corporation, member FINRA and SIPC. Advice services are provided by Vanguard Advisers, Inc., a registered investment advisor, or by Vanguard National Trust Company, a federally chartered, limited-purpose trust company.

Primary securities brokerage entities are Fidelity Brokerage Services LLC (FBS) and National Financial Services LLC (NFS), each member NYSE/SIPC; advisory and crypto entities differ by product.

No CFD/forex negative balance protection found; Vanguard margin disclosure says clients can lose more than deposited and are responsible for any shortfall after forced liquidation.

Not applicable/not disclosed as a CFD-style negative balance protection policy; margin trading can create debt/interest obligations.

SIPC coverage up to $500,000 including $250,000 cash; certain bank sweep deposits are FDIC insured subject to limits.

SIPC coverage up to $500,000/$250,000 cash plus Fidelity excess SIPC; FDIC sweep coverage may apply to eligible cash programs; important exclusions apply.

$0 to open a Vanguard Brokerage Account; mutual funds vary by fund; Vanguard ETFs $1 per share; Digital Advisor requires $100 per brokerage account.

$0 to open a retail brokerage account; Fidelity states no account minimum and ability to invest with as little as $1; exceptions apply by account/product.

Not applicable as a forex/CFD spread field; Vanguard is not presented as a forex/CFD broker. ETF shares trade on the secondary market at market prices that may be above or below NAV.

Not applicable to Fidelity's core U.S. stock/ETF brokerage model; securities trade by exchange/market prices rather than quoted CFD/FX spreads.

$0 online stocks, ETFs and Vanguard mutual fund trades; options $0 + $1 per contract; broker-assisted commission may apply.

$0 online U.S. stock and ETF trades; $0 online options commission plus $0.65/contract; other product/service fees apply.

Vanguard does not charge for Electronic Bank Transfers; wire transfers are $10 where applicable; physical certificate deposits can cost $100 per CUSIP.

$0 Fidelity fee for EFT and Fidelity does not charge wire fees; external banks may charge.

ACH/electronic bank transfers are not charged by Vanguard; wires are $10 where applicable; full account closure/transfer-out may be $100.

$0 Fidelity fee for EFT and domestic bank wire withdrawals; foreign exchange wire up to 3% of principal; receiving bank may charge.

No distinct inactivity fee found in official fee schedule; annual account service fee may apply instead.

No explicit inactivity-fee line found in official fee schedule; official account pages state no retail brokerage account fees/no account or subscription fees. Treat as needs manual confirmation before publishing as '$0 inactivity fee'.

Vanguard Brokerage Account can hold mutual funds, ETFs, stocks, bonds, options, CDs and cash/money market products.

Stocks, ETFs, mutual funds, options, crypto, fixed income, bonds and CDs; Fidelity says stocks include domestic and international.

Vanguard supports online brokerage trading through its website and mobile app for account management, deposits/withdrawals and buying/selling investments.

Fidelity.com, Fidelity mobile app, Fidelity Trader+ Web/Desktop/Mobile mode, and legacy Active Trader Pro Classic.

Vanguard supports individual/joint brokerage accounts, IRAs, custodial accounts, 529 plans, cash management and advice/robo-advisor services.

Broad account menu including taxable brokerage, retirement/IRA, cash management, HSA, custodial/youth, education, trust/business, managed and crypto accounts.

Funding methods include bank transfer, check/mobile check deposit, and asset transfers/rollovers.

EFT/ACH, bank wire, check/mobile check, direct deposit, recurring deposit, Fidelity-to-Fidelity/account transfer, transfer of assets, and eligible payment apps.

Withdrawals/transfers can be initiated from settlement fund; fee schedule covers electronic bank transfers/ACH and wire transfers.

EFT/ACH, bank wire, paper check, Fidelity-to-Fidelity transfers, third-party/person-to-person transfers and eligible debit card/ATM access.

Securities settle T+1 before proceeds can be withdrawn; electronic bank transfer/check funding may have a 7-calendar-day hold; incoming digital asset transfers may take as little as 5–7 days.

EFT withdrawals 1-3 business days; bank wire same day if submitted by 4 p.m. ET; paper check about 5-6 days.