Robinhood Launches Desktop Trading Platform Legend, Expands Services With Major Crypto Assets

The California-based trading and investment platform Robinhood has launched a desktop trading tool called Rohinhood Legend. This new platform offers users access to future and index options.

Legend is fully customizable and will be available to Robinhood's active traders at no extra cost. The company promised to include Bitcoin and Ethereum futures trading in the coming months. Its expansion move will also include index options for its mobile users.

Rohinhood Unveils its Desktop Trading Platform Legend

At the start of its HOOD Summit, Robinhood unveiled its newest innovation, Legend, a desktop trading platform. The firm noted that Legend is fully customizable and available to active users with a Robinhood account at no additional cost.

According to the firm, Legend aims to address users' frustration with legacy offerings as they switch between apps and charting platforms.

Legend allows users to operate up to 8 charts in a single window with several chart settings. Customers can add technical indicators like moving averages, Bollinger Bands, and more to the window.

Moreover, users can access deeper market analysis, allowing them to monitor and analyze tokens in their watchlists easily. Legend lets users observe the market with real-time data updating at sub-second intervals.

Vlad Tenev, Chairman and CEO of Robinhood, highlighted the benefits of Legend and other products to clients. He said Robinhood customers now have the resources and tools to control their financial future.

Following the launch of Legend, Robinhood's stock, HOOD, reacted positively. It recorded almost a 2.49% increase in the after-market hours on Wednesday.

Robinhood Announces Bitcoin And Ethereum Futures in The Coming Months

Also, during the HOOD Summit, Robinhood announced its plan to introduce Bitcoin and Ether futures on its platform. This move is part of the firm's expansion strategy into crypto derivatives trading.

Further, the prominent investment company noted that customer demand remains a driving force behind its innovative moves.

Robinhood stated: You asked, and we delivered. We're launching futures trading directly in the Robinhood app."

The firm also noted that the platform will launch soon, allowing users to trade the S&P 500, oil, Bitcoin, and more. Its proposed offerings include Bitcoin contracts, Bitcoin Friday futures, micro Bitcoin futures, Ethereum futures, and micro Ethereum futures.

For emphasis, micro futures are smaller contracts developed to make futures trading more accessible to retail and small-scale investors. Again, Robinhood revealed the launch of mobile futures trading and index options.

JB Mackenzie, VP and GM of Futures and International at Robinhood spoke more about crypto futures during the summit.

Mackenzie said: We're doing futures the Robinhood way. With some of the lowest fees in the industry and an elegant mobile user interface that allows customers to trade simply, quickly, and efficiently, there will be no reason to trade futures anywhere else."

Robinhood's crypto derivatives expansion aligns with its vision and efforts to spike its crypto operations.

On October 1, the firm launched crypto transfers for its European customers. This move allows users to deposit and withdraw over 20 crypto assets and a 1% yield on deposits.

The post Robinhood Launches Desktop Trading Platform Legend, Expands Services With Major Crypto Assets appeared first on Techreport.