Brown and Co., JP Morgan Chase’s discount brokerage unit, announced today that it has lowered its mutual fund transaction fee from $19 to $5 for orders placed online.

The transaction fees are in addition to normal fund fees and expenses for all no-load fund transactions and load funds sold or exchanged online. Buy orders for load funds, however, remain free.

The $5 mutual fund transaction fee matches Brown & Co’s $5 fee for equity market and options market orders, according to the firm. The Boston-based company offers more than 6,500 load and no-load funds online from more than 200 fund families, and is the seventh largest online brokerage firm in the country.

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