2 really stupid quick questions about Roth IRAs

Hey all,
Since my last thread was such a hit I thought I'd pick your brains once more.

2 really simple questions:

1.I want to start my Roth IRA with Vanguard, what would be the best avenue to open this account? Directly from Vanguard or through a brokerage or does it matter?

2. After I open this am I restricted to only Vanguard funds in my Vanguard Roth IRA, or can I use other companies like Fidelity's, I think I read on Vanguard's website that I could use other funds but I wasn't sure.

Thanks!

Depends on the fees. Open directly with Vanguard if you only plan on holding Vanguard funds.

There is a transaction fee to buy most other funds from other companies, as you can see in their fee schedule.

If you plan on the occassional high commission stock trade at Vanguard, you have to open up a brokerage portion for your Vanguard Roth IRA. I found this out the hard way when I went to make a trade 3 weeks ago and my account was only enabled to buy & sell Vanguard funds. They said it would take 4-6 business days for the brokerage portion to open. The stock I planned on buying is up 20% from where I was about to take the plunge.

My opinion is they're a great company, but only for Vanguard funds and no-transaction fee funds. Everything else they overcharge for fee wise.

Call Vanguard with your questions and ask if there's a fee associated with whatever you're asking about after each question.