Our execution quality
Every time you place a trade, your trust is in our hands—and we're committed to seeking a quality execution on every order.
Execution quality statistics are provided by S3 Matching Technologies, which is not affiliated with Robinhood.
These statistics reflect Q1 2021 market and marketable limit orders in exchange-listed stocks of <=1999 shares.
Price improvement occurs when an order is executed at a price lower than the best offer for a buy order and higher than the best bid for a sell order (i.e., better than the NBBO).
We have relationships with several market makers, and our routing system is designed to automatically prioritize sending your order to a market maker that’s likely to give you the best execution, based on historical performance. We don’t route orders based on any rebates we receive.
To learn more about how stock orders are routed on Robinhood, check out this Help Center article.
Most orders placed on Robinhood are executed at the nationally published quote—also known as at NBBO, or better. This means the vast majority of our customers are receiving, at a minimum, the best available bid or ask price.
We know our execution quality is only as good as our last, so we keep up with the quality you receive by performing thorough reviews on a daily, monthly, and quarterly basis. When we review, we evaluate critical factors that go into receiving a quality execution, like execution price, speed, and price improvement, as well as market conditions.