Client support  »  Account guide  »  FAQs: Brokerage

Brokerage FAQs—General information

During what hours can stocks and bonds be traded?

Why is there a debit or credit in my account? Why hasn't Vanguard taken money from, or moved money into, my money market fund?

How are dividends and interest credited to my account?

What can I do with a security that is considered worthless?

How do I close my brokerage account, and are there any fees for doing so?

During what hours can stocks and bonds be traded?

At Vanguard Brokerage Services, you can trade stocks from 9:30 a.m. to 4 p.m., Eastern time. You can trade bonds through our Fixed Income Trade Desk from 8 a.m. to 5 p.m., Eastern time.

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Why is there a debit or credit in my account?  Why hasn't Vanguard taken money from, or moved money into, my money market account?

When your trades are executed, the proceeds from a sale or the money you owe for a purchase of a security will be reflected as a net credit (for a sale) or net debit (for a buy) until the close of business on the settlement date of your trade.

On the settlement date, Vanguard Brokerage Services will automatically withdraw/sweep money from or deposit/sweep money into your money market settlement fund to settle your trade.

Most equity trades settle within three business days; however, we advise you to verify any trade settlement procedure prior to making trades. For mutual funds from other companies that are offered through FundAccess®, settlement varies depending on the fund family. In the case of late reporting from the fund family, settlement may be delayed.

How are dividends and interest credited to my account?

If your securities are maintained by Vanguard Brokerage Services, all dividends and interest earned are credited to your brokerage account. Earnings will automatically be transferred to your money market settlement fund the following business day.

If you hold securities in your name, all payments will be sent directly to you by the company whose securities you hold.

Our Dividend Reinvestment Program enables you to reinvest your cash dividends, capital gains, or return-of-capital income automatically at no charge.

What can I do with a security that is considered worthless?

You can abandon a worthless security in accordance with IRS guidelines. If you'd like to abandon a security, which will permanently remove it from your account, call us at 800-992-8327 for more information and to provide authorization. Please note that you will be responsible for any necessary tax reporting.

How do I close my brokerage account, and are there any fees for doing so?

Call us at 800-992-8327 to close your account. There are no fees for closing an account.

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All investments are subject to risk.

A money market mutual fund investment is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although a money market mutual fund seeks to preserve the value of your investment at $1 per share, it is possible to lose money by investing in such a fund.

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