Robinhood, a platform that offers commission-free stock trading and investment, has announced the introduction of trading for Bitcoin and Ethereum futures.
The new feature will be called Robinhood Legend and will be a desktop trading platform designed with active traders in mind. This innovation is a big step toward increasing the accessibility of cryptocurrency trading for a larger group of people.
Robinhood To Introduce Mobile Index Application
Robinhood is also in the process of introducing mobile index options and futures trading. The main idea behind the new features will be to provide clients with access to sophisticated, cutting-edge trading tools made for active traders who think that “well-designed, user-friendly goods can be a significant benefit while trading”.
Vlad Tenev, Chairman and CEO of Robinhood, stated, “With Robinhood Legend, futures, and index options, we’re helping customers harness the full power of the markets so they can take control of their financial future.”
Robinhood Legend: What New Features Does It Have?
The new Robinhood application will have multiple heavy trading options. Consumers will have access to numerous chart types, such as candle, line, Heikin Ashi, and more, and can view up to eight charts in a single window with dozens of chart parameters.
They can also use drawing tools like trend lines, horizontal lines, and Fibonacci tools, among others, or add a variety of technical indicators including moving averages, Bollinger Bands, Ichimoku Cloud, VWAP, and more.
Additionally, with hundreds of metrics at their disposal, traders may monitor and examine assets on their watchlist, open orders, positions, and option contracts on an option chain using Robinhood Legend’s deeper research capabilities.
Robinhood has also provided real-time data updated at sub-second intervals, so customers can maintain a pulse on the market. Using a variety of layout templates or their unique layout, customers may quickly and easily set up their perfect trading platform.
Customers may easily initiate trades once they are set up and prepared since they can produce order forms directly from a watchlist, their positions, or an option chain with just one click. On a chart, they can trade straight as well.
Additionally, users may instantaneously update symbols across layouts, tabs, and even different displays by connecting widgets to create synchronized groups.
Robinhood Prioritizes Customer Safety
Robinhood prioritizes client safety, which is why approval is required before allowing a customer to trade futures. In order to assist clients in making wise decisions, the company will also provide a variety of educational tools.
This includes YouTube films that will be released over the next few months and offer more details on futures, including what they are, how to trade them, and other topics. Futures articles on Robinhood Learn are also accessible through the app or website.