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How Do I Open an Account?

You can easily open a T. Rowe Price Brokerage account in one of four convenient ways:

  1. Online using our secure system
  2. By phone at 1-800-638-5660
  3. By mail: Download a PDF from our Web site or call 1-800-638-5660 to request information and a new account form
  4. In person at one of our Investor Center locations
Is There a Fee to Open Up A New Account Through T. Rowe Price Brokerage?

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.

What Types of Accounts Can I Open?

T. Rowe Price offers three main types of Brokerage accounts:

  1. Brokerage: $2,500 minimum investment
  2. 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
  3. 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
What is a Sweep Account?

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.

Do I Need Cash in the Account Before I Make a Trade Through the Online Account Access System or Touch-Tone Telephone Service?

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.

Can I Buy Odd Lots?

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.

What Features Does Your Online Trading System Offer?

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.

What Methods Can I Use to Place an Order?

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.

Do I Have to Pay Commissions for a Buy Order and a Sell Order for Securities? (Stocks, Bonds, Options, Etc.)

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.

Will I Be Charged an Extra Fee for Placing a Limit Order?

No. There is no additional handling fee for limit and stop orders for stocks.

What Is Options Trading?

Please review our Brokerage Insights report, What You Should Know About Options, for background information about options trading.

Can I Buy and Sell Exchange-Traded Funds (ETFs) Through T. Rowe Price Brokerage?

Yes. You can buy or sell most ETFs traded on a domestic exchange. Please review our Brokerage Insights report, The ABCs of ETFs, for more information.

Can I Buy and Sell Gold, Silver, Certificates of Deposit (CDs), and Commercial Paper Through T. Rowe Price Brokerage?

Yes. Please consult the commission and fee schedule for commission information or the Brokerage Welcome Handbook for more information.

Can I Buy Other Companies' Mutual Funds Through T. Rowe Price?

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.

How Do Your Commissions Compare With Other Brokerage Houses?

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.

Service Your Cost
E-mail Alerts Free
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
Dividend Reinvestment Free
Can I Use T. Rowe Price’s Automatic Asset Builder to Purchase Securities in My Account?

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.

Do You Offer Margin and Options Trading or Short Selling?

Yes. For more information on options trading, please see our Brokerage Insights report, What You Should Know About Options.

*$9.95 for online stock trades. Customers who do not qualify are eligible for our current rate of $19.95 for online stock trades.

T. Rowe Price Brokerage is a division of T. Rowe Price Investment Services, Inc., member FINRA/SIPC. Brokerage accounts are carried by Pershing LLC, a BNY Mellon company, member NYSE/FINRA/SIPC.