Companies
Robinhood launch free desktop platform after a decade
What happen On Wednesday, Robinhood (HOOD.O) released its long-awaited desktop platform and added futures and index options trading functionality to its mobile app, as the fintech business attempts to take market share away from traditional brokerage firms.Robinhood aims to become a full-fledged fin…
Headline
What happen On Wednesday, Robinhood (HOOD.O) released its long-awaited desktop platform and added futures and index options trading functionality to its mobile app, as the fintech business attempts to take market share away from traditional brokerage firms.Robinhood aims to…
Context
On Wednesday, Robinhood (HOOD.O) released its long-awaited desktop platform and added futures and index options trading functionality to its mobile app, as the fintech business attempts to take market share away from traditional brokerage firms. Robinhood aims to become a full-fledged financial services provider, competing with traditional brokerages that serve institutional clients. The commission-free desktop application will provide extensive trading tools, real-time data, and configurable and preset layouts. Meanwhile, the app will allow users to trade futures on the benchmark S&P 500 (.SPX), open new tab index, oil, and bitcoin, among other things. Customers can also trade index options from their mobile devices.
Evidence
Pending intelligence enrichment.
Analysis
Also read: Robinhood results top estimates on meme-stock, crypto-trading boom Also read: Robinhood reaches $3.9M settlement over blocked crypto withdrawals Robinhood has been a trading platform with no additional cost for over a deade. The company provides free advanced products and active trading tools to meet all customers’ needs. Robinhood is expanding to cater to more professional traders and more seasoned investors to broaden the customer base. Trading in futures and options has typically been the domain of large banks, hedge funds and asset managers, due to higher margin requirements, increased volatility, complexity and commissions. Offering desktop platform will increase user experience with advancing tools and multitasking capabilities. It also makes Robinhood competitive along with its unique mobile-first approach to gain the customer loyalty to the traditional brokers in market.
Key Points
- Robinhood debut their free desktop platform.
- Futures and index options trading features are added to the moblie.
Actions
Pending intelligence enrichment.
