Robinhood Launches Desktop Platform, Adds Features and Index Options Trading

An anonymous reader quotes a report from Reuters: Robinhood launched its long-awaited desktop platform and added futures and index options trading features to its mobile app on Wednesday, as the fintech firm aims to take market share from traditional brokerages. The 11-year-old commission-free trading app, which became synonymous with mom-and-pop investors in 2021, is now seeking to mature into a full-fledged financial services provider and compete with established brokerages that serve institutional investors. The Menlo Park, California-based company said its desktop trading platform, dubbed 'Robinhood Legend,' will focus on active traders.

The platform, available at no additional cost, will offer advanced trading tools, real-time data, as well as custom and preset layouts.
Meanwhile, the app will allow users to trade futures on the benchmark S&P 500 index, oil and bitcoin, among others. Customers can also trade index options. Subscribers to Robinhood's premium Gold tier will be able to trade futures for as low as 50 cents per contract, while non-Gold users will need to pay a commission of 75 cents. You can tune in to the company's live product announcement on YouTube.

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