October 16, 2024 – 8:49 PM PDT
(Reuters) – Robinhood (HOOD.O) launched its long-awaited desktop platform and added futures and index options trading features to its mobile app on Wednesday, as the fintech firm aims to take market share from traditional brokerages.
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The 11-year-old commission-free trading app, which became synonymous with mom-and-pop investors in 2021, is now seeking to mature into a full-fledged financial services provider and compete with established brokerages that serve institutional investors.
The Menlo Park, California-based company said its desktop trading platform, dubbed ‘Robinhood Legend,’ will focus on active traders.
“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,” Chief Brokerage Officer Steve…
