Brokerage Commissions and Fee Schedule

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Clients with invested assets of $250,000 or more are entitled to a commission rate of $9.95 for non-T. Rowe Price ETF and equity trades, whether trading online or through a representative. The Select Client Services program also waives account service and brokerage maintenance fees for eligible investors, while providing access to experienced client managers who can help with more complex financial transactions.

All clients are entitled to a zero commission rate on trades for T. Rowe Price ETFs.

Learn more about Select Client Services1

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Investment Products

Trade a wide range of investments, including stocks, ETFs (including ETFs from T. Rowe Price and other providers), bonds, and mutual funds from other fund families.

FAQs

Learn more about T. Rowe Price Brokerage from opening and managing your online account, to keeping it secure.

1Qualifying investments consist of T. Rowe Price mutual funds, brokerage, T. Rowe Price® ActivePlus Portfolios, T. Rowe Price College Savings Plan, Maryland College Investment Plan, or Alaska 529 accounts that are directly owned; trust accounts for which you are a trustee; or UGMA/UTMA, T. Rowe Price College Savings Plan, Maryland College Investment Plan, or Alaska 529, or Education Savings Accounts for which you are a custodian. Assets held in estate or corporate accounts are excluded. Your qualifying investment assets may be recognized with those of other eligible members of your household toward collective qualification for Select Client Services programs. If your assets fall below the minimum threshold needed to qualify for your current Select Client Services program, you may be notified that you will be reassigned into a lower program or removed from the Select Client Services programs.

2Security 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 Depository Receipts (ADRs).

3FundVest® ETF is a no-transaction-fee (NTF) exchange-traded fund platform offered through Pershing LLC, member NYSE/FINRA/SIPC, a BNY Mellon Company. NTF shares purchased are subject to Section 11 of the Exchange Act. Purchasing on margin is prohibited within the FundVest® ETF platform, and all NTF-ETF shares must be held fully paid in the case account for 30 days from settlement before being considered margin eligible. ETF shares purchased prior to joining the platform will not be eligible for FundVest® ETF. Any shares held in an account that may have existed in a participating fund prior to the fund being on the platform will not be considered NTF; however, as long as an account holds at least one NTF share, any subsequent redemption of that fund will not incur a transaction fee.

4Some fund families may require a higher minimum investment. 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.

5T. 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 no-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.

6Effective January 1, 2018—T. Rowe Price will not accept new load fund or UIT purchases. Subsequent purchases of load funds already held will be permitted for breakpoint considerations, as well as redemptions of both Load Funds and UITs are permitted. Certain Fidelity Funds are also charged a $35 transaction fee.

7Certificates of deposit are bank products that are FDIC-insured. Non-bank products are NOT FDIC-insured, NOT bank guaranteed and MAY lose value.

8Effective 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.

9Orders for foreign stocks that trade as an equivalent on U.S OTC Bulletin Board or Pink Sheet Markets.

10Pershing’s base lending rate, set with reference to commercially recognized interest rates and general credit market conditions, may change without notice. Contact T. Rowe Price Brokerage at 1-800-225-7720 for current rates.

11Third-party ATM surcharges may apply to transactions performed at certain ATMs.

12Available balance includes a secured credit line backed by the value of the securities held in the margin account (provided account is approved for margin privileges).

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.

All investments are subject to market risk, including the possible loss of principal; they are subject to management fees and expenses.