Free stock trading- Robinhood on Android

[feynmanresearch]

https://play.google.com/store/apps/details?id=com.robinhood.android

 

Pay no more commission for trades!

[boilermaker75]

What about the execution price? You might be better off trading at IB and paying a commission because you more than make up for it with better pricing.

[rb]

Well you're pretty sure that the execution is going to be crap, order flow is going to be directed to the highest bidder. Quite certain that settlement and custody are gonna be full of problems

[SmallCap]

does it allow limit orders because if so would it really matter where it executes the orders?

[sampr01]

I have account with them. Yes. They do have limit orders. Beware of spin offs or tracking stock. They will be in your account, but can't reflect on their APP to trade (only see LILA shares in my statement). Its actually good if you are a long term holder, but can't sell on impulse. :)

[ItsAValueTrap]

does it allow limit orders because if so would it really matter where it executes the orders?

 

Yes.  There are various NBBO exceptions that can be exploited.  Etrade is the worst.  I have zero experience with Robin Hood, but they may be selling order flow to the same assholes as Etrade.  (There's like 30-40+ different companies competing over retail order flow.)

[TwoCitiesCapital]

does it allow limit orders because if so would it really matter where it executes the orders?

 

If you're limit orders don't execute despite the stock trading at those levels, then yes it matters.

 

That was my main issue with Scottrade - for less liquid names I'd be using limit orders and watch the stock hit the limit price multiple times throughout the day without my order ever filling. Likely because Scottrade sold the order flow and I was in a long, long line of names waiting to get the same stock. It took me over 4 days to fill an order for Eurobank despite the stock hitting my limit price multiple times in that period. I've never had that issue with IB.