​How to place a limit buy order on Robinhood

This article provides step by step instructions on how to place a limit buy order on Robinhood.
​
  • ​Open the Robinhood app on your iPhone.
  • At the very bottom, you will see several icons.
  • You will see a search icon which looks like a magnifying glass.
  • Click on the search icon.
  • Search for the company you would like to purchase.
  • You could either search for the Ticker Symbol or you could just type in the name of the company in the search field.
  • In this example, I am going to purchase one share of GE (General Electric).
  • I typed in GE in the search field.
  • I was able to see GE under Stocks and ETFs.
  • Once you are able to see the name of the company, tap on the company name.
  • You should now be able to see the current market price.
  • At the bottom right, you should be able to see a Trade button in green color.
  • Tap Trade.
  • Now you should be able to see two options – Trade Options and Buy.
  • Tap Buy.
  • In this particular example, we are going to buy one share of GE.
  • At the time of writing this article, GE is trading at $11.69.
  • I would like to buy one share of GE at limit price of $11.50 which means I am only interested in buying this stock if the price comes down to $11.50.
  • At the very top right corner of the screen, you will see a drop-down. Click on the drop-down.
  • When you click on the drop-down, you will see 2 options – Market Order and Conditional Orders.
  • Under Conditional Orders, you will see 5 choices – Recurring Investment, Limit Order, Trailing Stop Order, Stop Order, Stop Limit Order.
  • Tap Limit Order.
  • On this screen, you will be able to set your limit price which is the maximum price you are willing to pay buy that stock.
  • Enter your Limit Price using your phone keyboard.
  • In this example, I am going to enter $11.50.
  • Once you enter the Limit Price, tap Continue.
  • ​On the next screen, you will be able to set your trading hours.
  • You could either select Market Hours which is from 9:30AM to 4:00PM Eastern Standard Time or Extended Hours which is from 9:00AM to 6:00PM.
  • In this example, I am going to select Market Hours.
  • Once you select the trading hours, tap Continue at the very bottom.
  • On the next screen, you could set the time in force. You could either select Good till Market Close and or Good till Cancelled (up to 90 days).
  • If you select Good till market close, it will expire by 4:00PM.
  • If you select Good till cancelled, the order will stay open for 90 days and will only expire after 90 days. Let’s say if the price of GE stock goes up today, the order will not get executed today but if the price of GE stock falls tomorrow and if it comes down to $11.50, then the order will get executed tomorrow.
  • You will see a green Continue button at the very bottom.
  • Tap Continue.
  • Enter the number of shares you would like to purchase.
  • Once you enter the number of shares, tap Review at the bottom.
  • On the next screen, you will see an order summary.
  • Since I am placing a limit buy order for one share of GE at $11.50, it reads like this – You are placing a good for day limit order to buy 1 share of GE. Your pending order, if executed, will execute at $11.50 per share or better.
  • At the very bottom, you will see an option – Swipe up to submit.
  • Swipe up to submit the order. 


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