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Vanguard vs Zacks Trade
The same facts side by side. Swap a broker from the menu under its logo; the best value in each row is marked.
- Vanguard leads
- 0
- Zacks Trade leads
- 2
- Level
- 4
Of 6 scored facts, Vanguard leads on 0, Zacks Trade on 2, and 4 are level. Countries and the offer are not scored.
Head-to-head
The best value in each row is marked; rows where every broker matches carry no mark.| Fact |  Vanguard |  Zacks Trade |
|---|---|---|
| Fee per contract | $1 per contract | $1 first / $0.75 additional |
| Vanguard, Eligible higher-balance accounts receive waivers | Zacks Trade, U.S. options, USD | |
| Exercise and assignment | Free | Free |
| Approval | Naked puts | Not published |
| Vanguard, Up to naked short options | ||
| 0DTE | Not published | Not published |
| Index options (SPX) | Yes | Not published |
| Options on futures | Not published | Not published |
| Spreads in an IRA | No | Not published |
| Portfolio margin | Not published | Yes |
| Margin rate | 11.25% | 8.83%Best |
| Platforms | Web, Mobile | Web, Desktop, MobileBest |
| Paper trading | Not published | Not published |
| 24/7 support | No | No |
| Countries | US citizens or permanent residents with a US mailing address | Not published |
| QuantWheel | Not connected | Not connected |
| Offer |
Facts from each broker's fee schedule and options agreement, checked 8 October 2026. Best marks the lowest cost or the widest allowance in a row.
The two brokers
One paragraph each.Vanguard$1 per contract · free exercise · naked puts
Vanguard opens options accounts for residents of the United States, among the 9 countries this directory covers. It charges $1 per contract (Eligible higher-balance accounts receive waivers). Exercise and assignment are free. It approves up to naked short puts, not naked calls. It trades on Web, Mobile. It is not connected to QuantWheel.
Zacks Trade$1 first / $0.75 additional · free exercise · not published
Zacks Trade opens options accounts for residents of the United States, among the 9 countries this directory covers. It charges $1 first / $0.75 additional (U.S. options, USD). Exercise and assignment are free. It does not publish its highest options level. It trades on Web, Desktop, Mobile. It is not connected to QuantWheel.
What each costs for the way you trade
A year of fees from each broker's published prices, checked 7 and 8 October 2026.
- Vanguard$1.40 a trade, 1.2% of your premium, fee not published
- $134 a year
- Zacks Trade$1.40 a trade, 1.2% of your premium, fee not published
- $134 a year
Vanguard is $0.00 a year lower on the fees it publishes, and it does not publish every fee this strategy needs
Not counted because Vanguard does not publish them: clearing fee, options regulatory fee, SEC fee, FINRA trading activity fee, live options quote price, platform fee, inactivity fee. Not counted because Zacks Trade does not publish them: clearing fee, options regulatory fee, SEC fee, FINRA trading activity fee, live options quote price.
Estimates from published fees. Your broker statement can differ, and brokers change fees. A fee a broker does not publish is never counted as $0.
Questions people ask
Vanguard vs Zacks Trade