Brokerage Services: Trading Mutual Funds - T. Rowe Price
Hundreds of No-Load Mutual Funds

T. Rowe Price Brokerage customers can use our Mutual Fund Screener to research and invest in hundreds of no-load funds—many available without a transaction fee—from prominent fund families such as T. Rowe Price, Fidelity, Vanguard, American Century, and Dreyfus. This is an efficient way for you to buy mutual funds—you can move money between funds in different families without waiting for checks to clear or filling out applications each time you buy a new fund.

Thousands of Load Mutual Funds

You can also speak with our registered representatives about the thousands of load funds we offer from well-known firms such as American Funds, AIM, Franklin Templeton, MFS, and Putnam.

Mutual Fund Trading Commissions and Fees
Mutual Fund Requirements
  T. Rowe Price Funds Non-T. Rowe Price Funds
Minimum Initial Investment*    
Brokerage Account N/A $5,000
Brokerage IRA Account N/A $1,000
Brokerage Advantage Account $2,500 $5,000
Minimum Subsequent Investments    
Brokerage Account N/A $1,000
Brokerage IRA Account N/A $500
Brokerage Advantage Account $100 $1,000
Systematic Investments** $100 $100
Minimum Redemptions    
On Request $0*** $1,000 (Or Entire Balance If Less)
Systematic Redemptions $50 $100
Transaction Fees
No-Transaction-Fee (NTF) Funds No Charge****
Transaction-Fee Funds $35 Per Transaction
Load Funds Stated Load Only*****
T. Rowe Price Brokerage charges a short-term trading fee equal to the greater of $50 or 1%, not to exceed $250, for all no-load, and certain load, no-transaction-fee (NTF) fund shares held less than 6 months. A short-term trading fee of $5 applies to shares purchased systematically and held less than 6 months. These fees are in addition to any redemption fee that a particular fund may charge. Short-term trading fees do not apply to T. Rowe Price funds; however, investors violating the T. Rowe Price fund excessive trading policy may be restricted from future purchases, as disclosed in the fund's prospectus.

Please note that T. Rowe Price funds can only be held in Brokerage Advantage accounts. We no longer open Brokerage Advantage accounts. Mutual Fund Requirements apply to existing Brokerage Advantage accounts. T. Rowe Price funds cannot be held in a Brokerage or Brokerage IRA account.

*A small number of funds (including T. Rowe Price Summit Funds) have higher minimum initial and subsequent investment requirements than this chart indicates. Visit our website or call a representative for more details.

**Per account per transaction after opening minimum is satisfied.

***$100 minimum for ACH redemptions.

****T. Rowe Price Investment Services, Inc., may receive administrative fees of up to 0.40% from these no-transaction-fee funds for providing recordkeeping and shareholder services. T. Rowe Price reserves the right to change the funds available with no transaction fees and reinstate the fees on any funds as well as the right to charge a transaction fee if your short-term trading becomes excessive. If you purchased a fund and paid a transaction fee, one will be charged upon its sale even if it becomes a non-transaction-fee fund after your purchase.

*****Certain Fidelity load fund transactions are also charged a $35 transaction fee.

Contact T. Rowe Price Brokerage to request a prospectus or summary prospectus; each includes investment objectives, risks, fees, expenses, and other information that you should read and consider carefully before investing.

To request a prospectus for an exchange-traded fund or non-T. Rowe Price fund, please call 1-800-225-7720.

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.