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Some brokers may have plans specifically designed for dollar cost averaging, so its difficult to generalize. If you were buying stocks, yes, you would pay commissions each time you had a transaction. So you would hold your monthly contributions in money markets in the brokerage IRA account (usually thats automatic for any uninvested funds in a brokerage account). Then you would decide how often to invest so the commissions are not too large a percentage (vs the gains you expect to get in the time delay).

With mutual funds, most brokerages do not charge fees. If they get loads, they are the same % regardless of the size of the investment in all cases I know of. If your brokerage account charges transaction fees for mutual fund purchases, it could matter. Otherwise it won't.
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