With Robinhood Legend, the company seeks to serve the needs of active traders, making it available at no additional cost for every user with a Robinhood account. The solution aims to provide UK investors with efficiency, precision, and customisation, equipping them with an intuitive, user-friendly platform.
As part of its research, Robinhood revealed that trading from a laptop or desktop computer is slightly less common than trading on a mobile device in the UK. The company’s data also underlined that only a third of desktop traders are satisfied with their existing trading platform, citing the lack of customisation and the complex navigation as their biggest issues. Based on this information, Robinhood decided to roll out Robinhood Legend, seeking to address these challenges.
With the browser-based desktop trading platform, Robinhood aims to allow customers to personalise their setup and begin trading immediately. The company equips users in the UK with:
A customised trading setup, with customers being able to organise their screen with the tools they need to trade their strategy;
Access at no additional cost, enabling users to trade US stocks with no commissions or FX fees, trade options for USD 0.50 per contract, and benefit from optimal margin rates. However, other costs apply;
Ability to trade from anywhere, allowing customers to generate order forms efficiently, trade directly from a watchlist or chart, and close or increase positions from their positions widget, among others;
Improved charting, with users being able to find bullish and bearish signals with access to 10 chart types, including candle, line, and Heikin Ashi, while also having up to eight charts in a single window. Also, they can reveal patterns and identify opportunities by utilising over 80 technical indicators moving averages, Bollinger Bands, Ichimoku Cloud, VWAP, and Volume Profile, among others, or leveraging drawing tools, including horizontal lines, trend lines, and Fibonacci tools;
Real-time data and custom intervals, enabling users to analyse the market with real-time data updating at sub-second intervals, custom ones by the day, hour, minute, and second;
Advanced analysis, with the platform facilitating multiple metrics that traders can utilise to monitor and check assets in their watchlists, orders, positions, and options chain.
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