Fintech company Robinhood has officially launched its long-anticipated desktop trading platform, dubbed “Robinhood Legend,“ on Wednesday. It also announced incoming features for app users, including futures and index options trading.
Launched in 2013, Robinhood was credited for providing a wide range of users access to financial markets through its mobile app. It initially offered commission-free stock trading before introducing exchange-traded funds and cryptocurrency to its portfolio. The platform particularly became popular during the pandemic.
With the introduction of a desktop platform, which will offer advanced tools and new trading options, Robinhood now hopes to make a definite leap from serving casual traders to attracting serious investors.
“We’ve matured alongside our customers and have heard loud and clear that they want access to more advanced products and more active trading tools,” Robinhood’s Chief Brokerage Officer Steve Quirk said. “Our long-term goal is for Robinhood to be the primary financial services company that meets all of customers’ needs.”
Robinhood’s desktop platform is now available to all app users at no additional costs. The new trading options, which will include the ability to trade futures on S&P 500, oil, and Bitcoin, among others, are expected to launch “soon.”
Robinhood’s stock closed at $26.93 per share on Wednesday, being 117.70% up year-to-date. The company’s shares have jumped more than 2% in post-market trading.