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

T. Rowe Price Brokerage customers can use our Mutual Fund Search to research and invest in thousands of no-load funds—many available without a transaction fee—from prominent fund families. 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.

Hundreds of Load Mutual Funds

You also can speak with our registered representatives about the hundreds of load funds we offer from well-known firms.

Mutual Fund Trading Commissions and Fees
Mutual Fund Requirements
  T. Rowe Price Funds Non-T. Rowe Price Funds
Minimum Initial Investment1    
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 Investments2 $100 $100
Minimum Redemptions    
On Request $03 $1,000 (Or Entire Balance If Less)
Systematic Redemptions $50 $100
Transaction Fees
No-Transaction-Fee (NTF) Funds No Charge4
Transaction-Fee Funds $35 Per Transaction
Load Funds Stated Load Only5

Each fund family may have different share classes and costs of the same fund. Please review each prospectus carefully to ensure that you select the share class most appropriate for you.

1 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.

2 Per account per transaction after opening minimum is satisfied.

3 $100 minimum for ACH redemptions.

4 T. Rowe Price Investment Services, Inc., may receive fees in connection with no-transaction-fee mutual funds for activities such as 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. Please review each prospectus carefully, as each fund family may have different share classes and costs to ensure that you select the share class most appropriate for you.

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

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.

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. Visit troweprice.com/prospectus or call 1-800-225-7720.

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

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