Yes. To give you more investing flexibility, we offer access to hundreds of no-load funds—many available with no transaction fee—through our Mutual Fund GatewaySM service. We also offer thousands of load funds available through representative-assisted trading.
You can trade online for as little as $9.95.* Overall, our commission rates for many trades are below those of some other well-known brokerage firms. With T. Rowe Price Brokerage, you can save money on many services some other brokers may charge for.
|Advanced Online Stock Screener||Free|
|Duplicate Statements and Confirmations||Free|
|Research Account Information (on request)||Free|
|Mandatory and Voluntary Reorganizations||Free|
|Change of Account Ownership||Free|
|Margin Extensions (if available)||Free|
No, this feature is not available for securities purchases. Automatic Asset Builder can be used to purchase both T. Rowe Price and non-T. Rowe Price funds. Please note that initial investment minimums must be met on non-T. Rowe Price funds before Automatic Asset Builder can be established.
Yes. For more information on options trading, please see our Brokerage Insights report, What You Should Know About Options.
T. Rowe Price Brokerage is a member of the Securities Investor Protection Corporation (SIPC), which provides our clients with up to $500,000 worth of protection ($250,000 for cash claims) against failure of the firm.
Additional coverage is provided by Pershing (our clearing broker) through Lloyd's of London to an overall aggregate level of $1 billion for assets in custody at Pershing and its London affiliate, Pershing Securities Limited, including $1.9 million in cash.
For more information regarding SIPC, including a SIPC brochure, visit www.sipc.org or call 202-371-8300.
SIPC coverage does not protect against losses arising from changes in the market value of investments.
*$9.95 per trade for online stock trades. Customers who do not qualify are eligible for our current rate of $19.95 per trade for online stock trades.
You can easily open a T. Rowe Price Brokerage account in one of four convenient ways:
- Online using our secure system
- By phone at 1-800-638-5660
- By mail: Download a PDF from our Web site or call 1-800-638-5660 to request information and a new account form
- In person at one of our Investor Center locations
There is no initial setup fee charged to open a Brokerage account. Annual fees may apply if certain requirements are not met. See our complete commission and fee schedule.
T. Rowe Price offers three main types of Brokerage accounts:
- Brokerage: $2,500 minimum investment
- Brokerage Advantage: a premium relationship account with a $10,000 minimum investment and offering a secured credit line and Visa Gold ATM and Debit/Check Card
- Brokerage IRA: available with a low $1,000 minimum investment.
Compare accounts to find which one is right for you. T. Rowe Price Brokerage offers registrations for individuals, corporations, trusts, Keoghs, SEPs, prototype money purchase pensions plan, profit sharing plan, UGMA/UTMA, and Individual 401(k) accounts
A sweep account links your Brokerage account to a T. Rowe Price money market fund. You can open a sweep account to ensure that your money will earn interest for you when it's not invested in securities or mutual funds. Simply designate a T. Rowe Price money market fund, and we'll link it to your Brokerage account. Then any money in your Brokerage account from securities or mutual fund sales and dividend payments will be transferred to your sweep account to earn competitive rates. If you want to make a Brokerage purchase, the money in your sweep account can be used whenever you like. You may also write checks from your sweep account ($500 minimum for Brokerage accounts, no minimum for Brokerage Advantage accounts). Please note that proceeds from any sale will not be reflected in your sweep account balance until the trade has settled.
Yes. We require 100% of the transaction value to be in your money market fund before we accept a trade through the automated system (or adequate buying power if you have a margin account). Also, your account must be activated for Internet trading privileges one business day before you place an order.
Yes, you can buy shares in amounts other than standard 100 share "round lot" increments. For example, you may buy 50 or 150 shares, usually at no extra cost. Note: There is a limited number of stocks that may allow only "round lot" orders.
Our online trading system is intuitive and easy to use. You can look at your total balance, current positions, order status, and available cash—and get real-time quotes before you submit a trade, all from the same page. In addition, we offer stock screener, portfolio tracking, interactive charting, and analyst research.
You can enter a stock, ETF, option, or no-load mutual fund order 24 hours a day through our online Account Access-Brokerage service or Tele-Trader system, featuring voice recognition. You may enter a bond, CD, precious metal, or any other order with any of our Brokerage representatives during business hours (8 a.m. through 8 p.m. ET Monday through Friday). Orders are only executed during regular market hours.
For an overview on how to trade online in your Brokerage account, view this short video.
Yes. There is a commission charged for stock or option trades, but no commission is charged when you buy or sell a no-transaction-fee, no-load mutual fund. Please be advised, however, that fund redemptions may be subject to a short-term trading fee. Access our Mutual Fund GatewaySM for a list of available no-load funds, or view our commission and fee schedule.
No. There is no additional handling fee for limit and stop orders for stocks.
Yes. You can buy or sell most ETFs traded on a domestic exchange. Please review our section on Exchange Traded Funds for more information.
Yes. Please consult the commission and fee schedule for commission information or the Brokerage Welcome Handbook for more information.
T. Rowe Price Brokerage cannot facilitate the purchase of an Initial Public Offering (IPO) of stock prior to its public opening on the secondary market. Some online brokerage providers offer limited access to certain IPOs through arrangements with underwriters. These services typically do not provide access to every IPO; however, only those for which the firm they've contracted is considered a "market maker." You may purchase any new issue the day it goes public online via Account Access or through a representative, once the issue starts trading. IPOs are typically characterized by high volatility, and potential buyers should exercise caution. Strong consideration should be given to entering a limit order rather than a market order for a new issue. Please call T. Rowe Price Brokerage at 1-800-225-7720 for additional information.
Assuming sufficient funds or shares are available in the account, market orders placed between 9:30 a.m. and 4 p.m. ET are executed immediately, unless there is an extenuating circumstance and trading is halted for a particular security. Details of all trade executions are posted on Order Status and History within 30 seconds after execution.
All stock trades settle in three business days, in or out of the accompanying money market sweep account. Option trades and many mutual fund trades settle on the following business day. Prior to settlement, pending debit or credit balances are represented on Account Details in the Key Values table as Trade Date Balance.
The bid price represents the price potential buyers are willing to pay for a security, while the ask price is the price at which a security is offered for sale. In a stock quote, for example, there is a bid/ask spread, which conveys the difference between what buyers are willing to pay and what sellers are asking. The rule of thumb is that if you are selling a stock, you will generally receive the current bid price. If you are buying, you must pay the current ask, or offer, price. For additional information regarding the bid/ask spread, contact a Brokerage representative at 1-800-225-7720.
Stocks, ETFs, options and no transaction fee funds can be traded online or through our Tele-Trader service. Bonds, CDs, and all of the above securities and can be traded through our representatives.
While T. Rowe Price Brokerage provides trading capabilities for many mutual funds, mutual funds subject to a front-end or back-end load (sales charge) cannot currently be traded online.
To purchase additional shares of a non T. Rowe Price fund held in your account, or to request a redemption or exchange, please contact a representative at 1-800-225-7720. There is no additional charge to place a mutual fund transaction with a representative.
To identify a specific lot, or the purchase date, of shares you are selling through the Account Access system, choose the Edit Tax Lot link on the initial Stock Order screen. This will redirect to a new page from which you may choose among lots held in that specific account.
To perform a symbol search, select Look up Symbol in the Research & Analysis section of the Market Summary box which appears on every Brokerage page. For stock symbols, enter the name of the company whose symbol you wish to locate and select Lookup to view a page with a master list of related symbols and corporate names. Simply move your mouse over the symbol and select the function you are interested in performing relative to the symbol or click Trade / Stock to place an order.
The T. Rowe Price Mutual Fund Gateway provides a dependable way to invest with more than 100 prominent no-load fund families. You can use the Gateway fund search tool to evaluate most of the no-load funds made available through T. Rowe Price Brokerage. Conduct searches by fund name, family, ticker symbol, or MorningstarTM category. You can also compare funds using a variety of factors including performance, Morningstar rating, and Morningstar category. The Mutual Fund Gateway search tool provides a listing of no-load funds that can be purchased online. In addition to the list online, you can also speak with a representative at 1-800-225-7720 about the more than 7,000 load funds we offer from well-known firms such as AIM, Alliance, American Funds, Fidelity and more.
The subscriber agreement is a combined document that encompasses requirements of four separate market data providers:
- NASDAQ (National Association of Securities Dealers Automated Quotation Systems)
- NYSE (New York Stock Exchange)
- AMEX (American Stock Exchange)
- OPRA (Options Price Reporting Authority)
Eligible customers who identify themselves as securities industry professionals during the Exchange Agreement consent process are not allowed to access Streaming Quotes or real-time AMEX quotes through the online Brokerage system. Streaming Quotes are displayed through a customizable streaming-ticker applet and provided only to select customers who meet specific eligibility criteria (40 or more executed trades, Brokerage balance of $250,000). In the event you incorrectly identify yourself as a professional a Brokerage representative can have the agreement reset, allowing you to revisit and change your status to nonprofessional.
The Account History screen provides a default view of all transactions that occurred in the specific account within the previous seven days. To filter your view and access records of all trades executed in the current calendar year, select All in the Transaction Type drop-down menu, for the Time Period of Current Year and click update.
Brokerage account history as of the previous day is available in the Accounts & Activity/Activity section of Account Access. From the Transaction History section of this page, you may select View All Transaction History to retrieve a consolidated history for all of your T. Rowe Price Mutual Fund and Brokerage accounts.
Intra-day brokerage activity is available via Brokerage Order Status and History pages. To access intraday history or account activity, click the desired account number from Accounts & Activity/Summary or Balance Details.
A new navigation bar will appear including a link to both Order Status and History pages. These functions offer a real-time view of intra-day open and/or pending orders, and transactions that occurred in the Brokerage account. The default view for History is all activity for the previous seven days, which includes transactions posted to the account intra-day. You may use search criteria filters to expand or narrow your search and view activity by symbol, time period, or a custom date range. History for the current and prior year is available online, and details of orders already executed the same trading day also appear in Order Status. If you have multiple Brokerage accounts, use the Select Another Account drop-down located at the top left of each page to navigate between accounts and view specific information.
For detailed instructions including tutorials and definitions of terms, refer to Help, available via the icon at the top right of each page.
To subscribe to paperless delivery of statements and confirmations, select Profile & Preferences in the top navigation bar, and access the My Communication Preferences section. Your current subscription profile is displayed along with a list of all e-delivery programs. Select Update E-Mail Delivery to enroll. You may also subscribe to Brokerage Alerts or eProxy Notification services through links in that section.
The account balance found on the Accounts & Activity/Summary or Balance Details pages represents Total Equity in your Brokerage account(s). The equity balance is calculated by factoring any pending debit or credit balance from the previous business day's closing portfolio value (portfolio value - /+ debit/credit balance). The pending debit or credit balance represents the total of all recent unsettled purchases.
A negative figure may appear if the total dollar amount of trades pending settlement exceeds the previous business day's closing market value in the Brokerage account(s).
Please review our Brokerage Insights report, What You Should Know About Options, for background information about options trading.
To have your Brokerage account enabled for option trading, access, complete and submit an Option Application and Agreement. Once the account has been approved for option trading, you will be able to place option orders, either online or through a representative. For additional information, call a representative at 1-800-225-7720. Options are not suitable for all investors.
A margin account allows for the purchase of securities with money borrowed through T. Rowe Price, and provides the capability to borrow against marginable securities held in the account. The purchase of a security on margin establishes a debit balance on which interest is due monthly. Margin approval is required to open a margin account or add margin capabilities to an already established non-retirement Brokerage account. Retirement accounts are not eligible for margin trading. To request a Margin Agreement by mail call a representative at 1-800-225-7720. To access and download the form, click the following link:
T. Rowe Price Brokerage margin specialists will notify margin customers by phone and e-mail if their accounts have outstanding margin calls. In addition, on the Account Details page the Key Values/Margin Account section include fields for House Call Surplus, NYSE Surplus, and Total Fed Call. If there is an outstanding margin call, the amount will be indicated in one or more fields. If your account becomes subject to a margin call but subsequently improves, margin call designations may temporarily indicate there is no call as a result of a change in market conditions. The original call may still be in place however, due on the original date, and valid if your account value again drops below the required equity level.