Robinhood Legend is a free, web-based advanced trading platform that enables you to build custom layouts and enter trades in seconds from your watchlist, chart, or options chain.

Robinhood UK customers are able to trade equities and options on Robinhood Legend.

As the Robinhood Legend trading platform is available in multiple jurisdictions, there may be Robinhood products shown on the platform that are not available to customers in the UK. Price data for these non-tradeable products is made available for information purposes only and is not an offer, recommendation, inducement, or invitation to buy, sell, or hold any securities or other investments, or to engage in any investment activity or strategy.

Many of the capabilities of Robinhood Legend may be different than what is offered via the Robinhood mobile app or web classic (i.e. the traditional web product available via logging into robinhood.com). Some securities details that are usually visible on its detail page via the mobile app or web classic are not available in Robinhood Legend. This includes various product details, such as key statistics, full order history, company earnings, and analyst ratings. You can view this information on the mobile app or on web classic.

The average cost shown in Robinhood Legend may not always include fees, adjustments resulting from wash sales, corporate actions, and transfers through the Automated Customer Account Transfer Service (ACATS). Therefore, this calculation may not match your tax forms, if applicable. Average cost should not be used to determine your realised gain or loss for tax reporting purposes.

You should review Robinhood UK’s Fee Schedule for information regarding any fees associated with trading products through Robinhood UK.

Your trade confirmations and statements will be accessible via the mobile app and web classic platforms, but not on the Robinhood Legend platform.

Robinhood Legend will generally have the following prepopulated fields in the order form, unless other contextual customer-selected information overrides these fields. The prepopulated fields may change, are purely for illustrative purposes, and should not be considered a recommendation or investment advice. The following are some key details about the different assets offered on Legend.

Equities

• The default order type could be a limit order or a market order.
• The default time in force will be a good-for-day (GFD) order.
• The default quantity will be 1 share.
• The default limit price on the limit order form will be the natural price (bid for sell and ask for buy) at the time the form is opened.
• The default limit price on the stop limit order form will be set to the stop price value on the order form and will move in conjunction with the stop price, until it is changed by the user. The stop price value on the order form will be defaulted to 1% below the bid for sells (or rounded down to the next available tick increment) and 1% above the ask for buys (or rounded up to the next available tick increment) at the time the order form is opened.
• The default trail type for trailing stop orders will be percentage and the default trail percentage will be 1%. If you select an amount trail type, then the default trail amount will be $1.
• The default session for limit orders will be market hours between 9:30 AM and 4:00 PM ET, extended hours between 7:00 AM and 9:30 AM ET and 4:00 PM and 8:00 PM ET, and market hours otherwise.

Options

• The default order type will be limit.
• The default time in force will be a good-for-day (GFD) order.
• The default quantity will be 1 contract.
• The default limit price on the limit order form will be the natural price (bid for sell and ask for buy) at the time the form is opened. For multi-leg orders, the default limit price will be the mark price (i.e., generally the midpoint of all options that make up the legs of the multi-leg spread) at the time the form is opened.
• The default limit price on the stop limit order form will be set to the stop price value on the order form and will move in conjunction with the stop price, until it is changed by the user. The stop price value on the order form will be defaulted to 1% below the bid for sells (or rounded down to the next available tick increment) and 1% above the ask for buys (or rounded up to the next available tick increment) at the time the order form is opened. Stop orders for multi-leg orders are not supported.
• When closing an options position, particularly a multi-leg position, Robinhood Legend will name the order solely based on the contracts in the order and not on the position or strategy being acted upon. This is different from the experience in the mobile app or on web classic, where the order's name reflects the position being acted upon.

Stop market orders carry additional risk, especially during volatile market conditions.

• Stop prices are not guaranteed execution prices. A stop order becomes a market order when the stop price is reached. Because the market may move, the price at which a stop order ultimately is executed may be very different from the stop price.
• Stop orders are only triggered during regular market hours.
• Stop orders may be triggered by a short-lived, dramatic price change. During periods of volatile market conditions, the price of an instrument (e.g., the price of a stock or an option) can move significantly in a short period of time and trigger an execution of a stop order (and the instrument may later resume trading at its prior price level). Customers should understand that if their stop order is triggered under these circumstances, they may trade at an undesirable price even though the price of the instrument may stabilise during the same trading day.
• Sell stop orders may exacerbate price declines during times of extreme volatility. The activation of sell stop orders may add downward price pressure on an instrument. If triggered during a precipitous price decline, a sell stop order is more likely to result in an execution well below the stop price.
• Placing a limit price on a stop order may help manage some of these risks. A stop order with a limit price (a stop limit order) becomes a limit order when the instrument reaches the stop price. A limit order is an order to buy or sell an instrument for an amount no worse than a specific price (i.e., the limit price). By using a stop limit order instead of a regular stop order, a customer will receive additional certainty with respect to the price at which the customer transacts. Be aware that because brokers cannot sell for a price that is lower (or buy for a price that is higher) than the limit price selected, there is a possibility that the order will not be executed at all. Consider using limit orders when a target price is more important than execution.

The tools (e.g., widgets) may prepopulate a single stock when you first use Robinhood Legend or if the tools are unable to load your previous settings. In addition, when using the search function, the tools may prepopulate popular stocks. Note that the prepopulation of such stock is purely for informational purposes and is not investment advice or a recommendation to buy, hold, or sell any security. The methodology according to which a single stock will be prepopulated is based on the following considerations: i) the most commonly held US listed single stocks held by Robinhood customers (i.e., not an ETP); ii) the exclusion of Robinhood Markets, Inc. stock (NASDAQ: HOOD); iii) the existence of an underlying options market (i.e., stocks without an options market will be excluded); and iv) a start of day market capitalisation of greater than $1 billion. Once you have used the tools on Robinhood Legend, the tools may prepopulate to an instrument that you searched using the tools or an instrument otherwise referenced on a tool you used.

Robinhood lists are provided for informational purposes only by Robinhood Markets, Inc., and are not investment advice or a recommendation to buy, hold, or sell any security or other investment. The lists are generated using Robinhood data, not overall market data. They are not personalised recommendations, and the securities listed may not be suitable for you. You should not buy or sell anything on the list without first determining it is appropriate for your portfolio, financial situation, or investment strategy.

My First List may be prepopulated with sample stocks to demonstrate the functionality of Robinhood Legend. The stocks included in your prepopulated list are a combination of the most traded stocks on Robinhood within 30 days of joining and the most commonly added stocks to a Robinhood watchlist within 30 days of joining, exclusive of stocks shown in the first list. These lists are generated using Robinhood data, not overall market data, and reflect the behavior of customers who joined between September 2021 and February 2022. You can remove these stock symbols from your list and add any others of your choosing. The inclusion of prepopulated symbols in your list is not a recommendation or solicitation to buy, hold, or sell any security in your Robinhood account.

While there is no additional cost to use Legend, there are other fees associated with your individual investing account. Review Robinhood UK’s Fee Schedule for details. Robinhood Legend is only available to Robinhood investing customers.

Options are complex products, involve significant risk and are not suitable for all investors. You could lose more than your initial invested capital. You should only invest in financial products that match your knowledge and experience. Review Characteristics and Risks of Standardized Options prior to engaging in options trading.

As the Robinhood Legend trading platform is available in multiple jurisdictions, there may be Robinhood products shown on the platform that are not available to customers in the UK. Price data for such non-tradeable products is made available for information purposes only, and is not an offer, recommendation, inducement, or invitation to buy, sell, or hold any securities or other investments, or to engage in any investment activity or strategy.

Robinhood doesn’t endorse or adopt any particular investment strategy or approach to evaluating individual securities or assets. Robinhood Legend use is for informational purposes only and is not an offer, recommendation, inducement, or invitation to buy, sell, or hold any securities or other investments, or to engage in any investment activity or strategy. Some of the capabilities of Robinhood Legend may be different or absent from what is offered via the Robinhood mobile app or web classic. Be sure to understand these differences and what might work best for you.

All investing involves risk and loss of principal is possible.