Trading with Robinhood Legend
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. You can trade equities and options on Robinhood Legend.
You can enter trades in seconds from your watchlist, chart, options chain, or positions widget. Just double check that you’re trading in the intended account. You can switch between accounts by selecting the Account (person) icon.
Depending on how you open an order form, it may contain preset order details. You can always edit your order before submitting a trade.
Preset order details are not a trading recommendation.
Trading equities
You can place an equities order from the following widgets in your layout.
Hover over a row and select Trade to place a limit order. You can also right-click the row to select Trade.
Hover over an options position and select trade. You can also right-click a position to enter the order form.
- Select Close to place a market order to sell
- Select the 3 vertical dots → Set stop to place a stop market order. Set stop will also appear if the widget is wide enough.
- Select the 3 vertical dots then Set limit to place a limit order
- Select the 3 vertical dots → Increase position to place a market order to buy
To trade from a chart widget, check out Trading from the chart widget.
Depending on the scenario, the form will be set as either a limit, market, or stop market order (stop order for futures). From there, you can choose another order type, decide whether you want to buy or sell, and edit the rest of your order details.
To cancel an open or partially filled order, hover over an order row in your recent orders widget and select Cancel. You can also right-click a position to find this option.
To trade from a chart widget, check out Trading from the chart widget.
Depending on the scenario, the form will be set as either a limit, market, or stop market order. From there, you can choose another order type, decide whether you want to buy or sell, and edit the rest of your order details.
To cancel an open or partially filled order, hover over an order row in your recent orders widget and select Cancel. You can also right-click a position to find this option.
Trading options
You can place an options order from the following widgets.
Select a bid or ask price for the contract you want to trade. To add more legs, just select the bid or ask on another contract and it will automatically be added to your order form. Note that:
- Selecting a bid sets the order form to sell.
- Selecting an ask sets the order form to buy.
- You can add up to 4 legs to a single order.
Hover over an options position and select trade. You can also right-click a position to enter the order form.
- Select Close to place an order to close your position
- Select the 3 vertical dots → Set stop to place a stop market order. This option will also appear if the widget is wide enough.
- Select the 3 vertical dots → Set limit to place a limit order
- Select the 3 vertical dots → Increase position to place an order that will add to your current position
- Select the 3 vertical dots → Roll position to close an options position and open a new one
- Select the 3 vertical dots → Exercise to exercise your option. Note: Index options cannot be exercised or assigned early
Once an order form opens, you can select your order type, decide whether you want to buy or sell, and edit the rest of your order details. For multi-leg trades, you can also see the current mark price for each of your legs, and edit your legs ratio.
Trading from the chart widget
You can trade stocks in a few different ways directly from your chart widget:
- Select Buy or Sell (if you have a position) in the upper-left corner
- Select the + icon on the right side of the chart
- If above the current price, select Buy stop to place a buy stop market order (stop limit order for options)
- If above the current price, select Sell limit to place a sell limit order
- If below the current price, select Buy limit to place a buy limit order
- If below the current price, select Sell stop to place a sell stop market order (stop limit order for options)
- Right-click any point in the chart
- If above the current price, select Buy stop to place a buy stop market order (stop limit order for options)
- If above the current price, select Sell limit to place a sell limit order
- If below the current price, select Buy limit to place a buy limit order
- If below the current price, select Sell stop to place a sell stop market order (stop limit order for options)
- If you have an open order, you can cancel that order right from the chart.
- Select the X to cancel the order
- If you have a position in an asset, it’ll show a pill with your open quantity and P&L plotted with its average cost.
- Select and drag Stop down to select the price you’d like to place a stop market order at (stop limit order for options)
- Select and drag Limit up to select the price you’d like to place a limit order at
- Select the X to start a closing order for your position
The order form will default to the price you selected, but you can edit this before submitting the trade.
Trading from the ladder widget
You can also trade assets from your ladder widget.
On the ladder widget, buy actions are on the left and sell actions are on the right.
The Buy MKT and Sell MKT buttons at the bottom of the page allow for quickly placing market orders, while limit (LMT) and stop (STP) order options will show when you select a specific contract price in the middle column.
Selecting the LMT or STP buttons shown along the y-axis will initiate limit and stop orders respectively.
You can turn Auto-send (lightning bolt icon at top right of the chart) On or Off for placing equities orders.
When placing orders with auto-send turned on, you’ll skip the order confirmations typically shown for an order. This increases the chance of accidental trades, so make sure it’s the right fit for your trading style before turning it on.
With auto-send turned on, you can’t view applicable fees or commissions before placing an order, which are automatically applied to the order. For details, check out the Equities section in Legend default order behaviors and settings.
To change the price of a pending order, select and drag the LMT or STP buttons up or down to your desired price. This cancels the existing order and replaces it with a new order with the updated price you selected.
You can’t switch order types by dragging an order. If you drag an order past the market price, it won’t switch the order type from a limit to stop order or vice versa. Instead, the order may become marketable and execute at the next available price, or may be rejected by the exchange.
Use the Exit and Cancel all buttons (circle with a line through it in the upper right) to close all open positions and cancel all pending orders in the selected symbol. When the button is selected, a market order is placed to close any open positions. Simultaneously, any pending orders are canceled.
If auto-send (lightning bolt icon) is turned on, you’ll skip the order confirmations typically shown for an order.
Buying power
You can review your available buying power for trading by selecting Account (person icon). For more details, check out Settlement and buying power. For details about your futures-specific buying power, check out Get started with a futures account.
Disclosures
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 Robinhood classic. Be sure to understand these differences and what might work best for you.
Futures trading is offered through Robinhood U.K. Ltd. and Robinhood Derivatives, LLC, a US registered futures commission merchant with the Commodity Futures Trading Commission (‘CFTC’) and a member of the National Futures Association (‘NFA’) (NFA ID 0424278).
Futures are complex products with a high risk of losing money rapidly due to leverage. They’re not suitable for all investors. Before you invest, you should make sure you understand how futures work, what the risks are of trading futures and whether you can afford to lose more than your original investment. Review the Futures Risk Disclosure Statement prior to engaging in futures trading.
Futures contracts and cash in futures accounts that you deposit with Robinhood Derivatives, LLC to margin futures contracts traded on the CME are held in a customer segregated funds account pursuant to regulatory requirements. Futures accounts are not protected by the Securities Investor Protection Corporation (‘SIPC’) or the UK's Financial Services Compensation Scheme (‘FSCS’).
Robinhood U.K. Ltd and Robinhood Derivatives, LLC are subsidiaries of Robinhood Markets, Inc.
Robinhood Derivatives, LLC retains the right to cancel orders and liquidate your positions at any time, without prior notice. Review the Futures Client Agreement for more details.