Finance

Robinhood debuts Legend for active traders, claims futures markets are actually happening soon

.In this picture image, the Robinhood Markets, Inc. logo is featured on a mobile phone screen.Rafael Henrique|Sopa Images|Lightrocket|Getty ImagesRetail broker agent company Robinhood is actually releasing a new device for even more innovative investors as it seeks additional pathways for growth.The company presented Robinhood Legend, a desktop-based platform for energetic traders. The offering includes enhanced laying out devices for users that intend to perform detailed review of sells." In considering the landscape of exchanging tools and also by speaking along with active traders, our team discovered there is stress with tradition offerings," Steve Peculiarity, chief stock broker officer at Robinhood, stated in a press release." Exclusively, moving back and forth in between applications or even charting platforms can be awkward as well as opportunity consuming. So our team laid out to reimagine what a modern-day, intuitively made active trading platform must seem like, and also constructed Robinhood Legend from the ground up therefore investors may do what they need in one place," Quirk said.Beyond the launch of Legend, Robinhood also said it will certainly quickly include futures trading and index alternatives to its own mobile phone system. Consumers need to be actually provided authorization to trade futures deals, depending on to journalism launch, and also futures and also mark options will eventually be added to Legend as well.The brand-new add-ons for Robinhood are yet another example of the firm aiming to grow beyond its own origins as a handy system for small-dollar traders. The firm's surge accompanied the "meme assets" sensation in early 2021 as retail trading flourished in the upshot of the Covid-19 pandemic.Stock Graph IconStock chart iconRobinhood allotments, all-timeSince then, Robinhood has actually been steadily adding brand-new offerings, consisting of a credit card for Robinhood Gold users and also a digital pocketbook to store cryptocurrencies." Our team have actually carried out quite possibly on mobile phone in the past one of much younger folks as well as individuals that mainly invest as well as trade on mobile phone. However concerning one-half of the market place is on personal computer internet, where you possess more real property on the screen, you may do extra advanced points like have charts as well as information in the same interface. And so our team weren't definitely a gamer in that area," Robinhood chief executive officer and also co-founder Vlad Tenev claimed on CNBC's "Squawk Carton." Robinhood said that it possessed $139.7 billion in assets under wardship by the end of the second quarter, alongside 11.8 thousand monthly energetic customers. For the comparable quarter in 2021, near the elevation of the GameStop mania, Robinhood stated $102 billion in possessions however 21.3 thousand monthly energetic users. The company's next incomes document is actually scheduled for Oct. 30. Allotments of Robinhood are up much more than 100% so far this year.The statements on Thursday became part of bonnet Summit, a conference for Robinhood's clients.