Robinhood Unveils Desktop Platform for Active Traders

Online broker Robinhood has launched a desktop version named Robinhood Legend, targeting active traders, reports Reuters.

The platform features advanced trading tools, real-time data, and both custom and preset templates.

Developers have also added futures and index options to the list of products available in the mobile app.

Such instruments are typically used by banks, hedge funds, and asset managers due to higher margin requirements and increased volatility.

Robinhood charges trading fees for these products, marking a departure from its “commission-free” model, though the fees are lower than industry counterparts.

In April through June, the company reported revenue from cryptocurrency client operations of $81 million, doubling the figure related to stocks ($40 million).

In July, the online broker announced the acquisition of the investment and research AI platform Pluto Capital to enhance its capabilities with artificial intelligence.

A month earlier, the company agreed to acquire the oldest European bitcoin exchange Bitstamp for $200 million.