Online broker Robinhood has introduced a desktop version called Robinhood Legend, aimed at active traders, reports Reuters.
The new platform offers advanced trading tools, real-time data, as well as customizable and preset templates.
Additionally, the mobile app now includes new products such as futures and index options.
These types of 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, which marks a shift from their traditional “commission-free” model, but the fees are lower than industry standards.
It’s worth noting that in April-June, the company earned $81 million from cryptocurrency trading, double the income from stock trading ($40 million).
In July, Robinhood announced the acquisition of Pluto Capital, an investment and research platform using AI, to enhance its features.
Earlier, in June, the company completed a $200 million deal to acquire Europe’s oldest Bitcoin exchange, Bitstamp.
