Explore the commissions and service fees for T. Rowe Price Brokerage, including $0 commissions and $0 transaction fees for T. Rowe Price products, including our mutual funds, exchange-traded funds (ETFs), and certain other investment products—online or by phone.
You’ll also find competitive pricing on many other investments and transactions, all organized by investment product and transaction type so you can quickly find what you need.
How you trade affects what you pay
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Online trades |
Representative-assisted trades |
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|---|---|---|---|---|---|
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You pay the standard commission for each trade—no additional fees. |
You may pay the standard commission for each trade plus a service charge that varies by client type and product type.
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Fees by investment product
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Product |
Online commission |
Representative-assisted fees: Select Services or higher-tier clients |
Representative-assisted fees: General Services and non-Summit eligible clients |
|---|---|---|---|
|
T. Rowe Price investment products |
$0 |
$0 |
$0 |
|
Stocks2 |
$0 |
$0 + $9.95 service charge |
$0 + $25 service charge |
|
ETFs2 |
$0 |
$0 + $9.95 service charge |
$0 + $25 service charge |
|
Options |
$0.65/contract |
$0.65/contract + $9.95 service charge |
$0.65/contract + $25 service charge |
|
No-transaction-fee mutual funds3,4,5 |
$0 |
$0 |
$0 |
|
Transaction-fee mutual funds3,4,5 |
$75 per purchase |
$75 per purchase + $9.95 service charge |
$75 per purchase + $25 service charge |
|
Load mutual funds and UITs4,6 |
Sales charge included |
Sales charge included |
Sales charge included |
|
Treasuries (new issue and secondary) |
$0 |
$0 + $9.95 service charge |
$0 + $25 service charge |
|
Bonds and fixed income securities:
|
$1/bond7 |
$1/bond7 + $9.95 service charge |
$1/bond7 + $25 service charge |
|
Certificates of deposit (CDs) |
Sales charge included |
Sales charge included |
Sales charge included |
Orders partially executed across multiple trading days are subject to a separate commission charge for each day the order partially executes.
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Miscellaneouse fees |
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Reverse split corporate action8 $25 fee |
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Options-assisted closeout fee9 A $25 fee may apply if we close an option position before expiration due to insufficient cash or shares to cover a potential exercise or assignment, in addition to any applicable product commissions |
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Margin liquidation fee10 A $25 fee may apply if we liquidate positions in your account to meet margin requirements, in addition to any applicable product commissions |
Fees for T. Rowe Price brokerage services
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Annual account maintenance fee |
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$30 fee The $30 fee is waived for:
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Miscellaneous fees |
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Account transfer out or termination $50 |
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Returned deposit checks $20 |
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Wire transfer out of Brokerage account11 $15 |
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Wire transfer from your linked money market account11 $5,000 or more = no fee |
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Certificates and direct registration services (register and ship) $15 (only available on a limited number of securities) |
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Overnight courierper-item delivery fee12 Standard = $12 |
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IRS Form 990-T Filing (for RICs, REITs, limited partnerships)12 $200 |
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Physical securities processing Transfer agent processing fees for deposit, issuance, transfer, or cancellation of physical certificates. Fees vary by transfer agent and are not eligible for waiver consideration. |
Additional fees for Brokerage Advantage account clients13
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Cash management service fee |
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$40 fee The $40 fee will be charged:
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VISA® Gold ATM/debit/check card |
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ATM withdrawal fee14 None |
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Daily maximum ATM withdrawal The lesser of $500 or your available balance15 |
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Daily maximum for VISA® Gold Card transactions The lesser of $10,000 or your available balance |
VISA is a registered trademark of VISA U.S.A., Inc.
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Checking |
|---|
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Minimum check amount None |
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Check reorder fee No charge for first 40 checks; $10 per 150 checks thereafter |
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Copies of ATM, sales, or cash advance receipts $2.50 |
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Stop payments $10 |
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Returned checks $15 |
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Check copies $2.50 |
Precious metals (sale transactions only)
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Product |
Quantity |
Commission16 |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|
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Gold, silver, palladium, and platinum |
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Miscellaneous fees |
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Precious metals storage fee 0.75% of market value per annum, billed in arrears. Minimum of $5 per quarter |
Precious metals can only be traded by phone. Call 1-800-225-7720 to place a trade.
Foreign securities
|
Miscellaneous fees |
|---|
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Foreign securities orders17 Fee based on rate for country of origin. Ranges from $21–$121 per purchase or sale, in addition to the applicable commission. |
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Foreign securities transfers Fee based on rate for country of origin. Up to $75 for each foreign security transferred to or from T. Rowe Price Brokerage. |
Special products
|
Miscellaneous fees |
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Annual custody fee for special products (limited partnerships and direct participation programs) $35 per position |
Investors who qualify for the Select Services tier or above in the T. Rowe Price Summit Program enjoy access to preferred Brokerage pricing, including lower costs on representative-assisted transactions.
Qualifying investors can also enjoy waived fees on select account services, delivery options, and Brokerage maintenance—providing even more value as your relationship with T. Rowe Price grows
Fewer investment accounts may mean fewer fees. Consolidating investments at different companies with T. Rowe Price Brokerage may help you save time and money when it comes to managing your portfolio.
Plus, you’ll gain access to a broad range of investment choices to help complement and diversify your asset mix.
1 Summit Program client: The Summit Program is a tiered benefits program offered by T. Rowe Price®. A household’s qualifying assets determine its Summit Balance and Summit tier. The tiers are General Services (less than $250,000 Summit Balance), Select Services ($250,000 Summit Balance or more), Personal Services ($500,000 Summit Balance or more), and Enhanced Personal Services ($1 million Summit Balance or more). Learn more about qualifying accounts and what the Summit Program offers.
2 Security markets have their own set of additional fees and/or taxes assessed by local governments and exchanges. These assessments are imposed on the financial services industry to cover the regulatory costs, and in all cases, the fees/taxes collected are passed on to the appropriate regulatory body or government agency. In addition, agent servicing fees may be imposed for American Depositary Receipts (ADRs).
3 If fund minimums are not met, certain fees may apply. If you hold no-transaction-fee fund positions along with transaction-fee fund positions, the no-transaction-fee fund positions will liquidate first.
4 Short-term trading fee: T. Rowe Price Brokerage charges a short-term trading fee equal to the greater of $50 or 1%, not to exceed $250, for no-load, and certain load, no-transaction-fee fund shares held for less than six months. A short-term trading fee of $5 applies to those shares purchased systematically and held for less than six 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.
5 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. Please review each prospectus carefully to ensure that you select the share class most appropriate for you, as each fund family may have different share classes and costs.
6 Effective January 1, 2018—T. Rowe Price will not accept new UIT purchases. Redemptions of UITs are permitted. Subsequent purchases of Load Funds already held will be permitted for breakpoint considerations.
7 Bond commissions are subject to a $250 maximum. (Effective January 1, 2018—T. Rowe Price will not accept new CMO purchases). GNMAs and CMOs are not available for online trading.
8 A reverse stock split combines multiple shares into fewer shares at a proportionately higher price per share. Notice of the corporate action will be provided directly by the issuer.
9 If your account does not have sufficient funds or securities to support the exercise, assignment, or settlement of an option position, including at expiration, T. Rowe Price may, but is not obligated to, close, liquidate, or otherwise offset the position, in whole or in part, without prior notice to you. A closeout fee may be charged if an exercise or assignment cannot be covered by the cash in your account.
10 A margin liquidation fee may be charged when positions are liquidated to meet a margin call or other applicable margin requirements.
11 For customers who qualify for the Select Services tier and above of the Summit Program, fees related to outgoing wire transfers and overnight courier from your T. Rowe Price Brokerage account are waived. Learn more about the Summit Program.
12 Pershing applies a filing fee to the applicable tax-deferred account for each tax return prepared and filed. This filing fee is not dependent on whether a tax is owed.
13 We no longer open Brokerage Advantage accounts. Fees are applicable to existing Brokerage Advantage accounts.
14 Third-party ATM surcharges may apply to transactions performed at certain ATMs.
15 Available balance includes a secured credit line backed by the value of the securities held in the margin account (provided the account is approved for margin privileges).
16 Effective January 1, 2018—T. Rowe Price will not accept new purchases or incoming precious metals transfers. Commissions apply to sale transactions and are subject to a minimum commission of $35.
17 Orders for foreign stocks that trade as an equivalent on U.S. OTC Bulletin Board or Pink Sheet Markets.
T. Rowe Price Brokerage is a division of T. Rowe Price Investment Services, Inc., member FINRA/SIPC. Brokerage accounts are carried by Pershing LLC, member NYSE/FINRA/SIPC, a BNY company.
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