Robinhood Introduces A New Way To Trade On Desktop Through Robinhood Legend

Investors looking for an edge in the market may want to pay extra close attention to Robinhood, as they have unveiled the latest addition to its iconic trading platform.

Named Robinhood Legend, this desktop-focused interface is designed from the ground up to accommodate active traders. While mobile-app trading certainly offers significant benefits, the smaller screens can represent a challenge in deciphering multiple datapoints. With a desktop setup, traders can analyze multiple charts and technical indicators simultaneously, facilitating information management and effective decision-making.

Even better, Legend is available at no extra charge for all Robinhood account holders. Plus, the core attributes offered to a customer – no equity options contract fees (though certain charges may apply), low margin rates and commission-free stock and exchange-traded fund (ETF) trading – remain the same.

What Distinguishes Robinhood Legend From the Pack

Robinhood reports that Legend isn't just another run-of-the-mill trading platform with some extra bells and whistles attached. Indeed, there are many generic products in the retail investing ecosystem. Instead, Legend represents a carefully tailored toolset for traders who require speed, precision and customization. Consider the following features:

• Customizable layout for personalized trading: With Robinhood Legend, you can personalize your trading setup in just a few clicks. Through the use of organizational widgets, market participants can adjust chart schematics to suit their strategies – whether that involves targeting technical indicators, market trends or price movements. Also, users can choose from pre-designed layouts, minimizing delays.
• Advanced charting tools for in-depth analysis: Investors increasingly rely on multiple disciplines, including technical analysis, to gain an edge. Robinhood Legend addresses the growing concern of companies paywalling their technical solutions with access to advanced charting analytics. Whether you're tracking moving averages, Bollinger bands or Fibonacci retracements, Legend provides the tools necessary for consistent success.
• One-click trading for quicker execution: When it comes to trading, timing could be the difference between securing a profit or incurring a loss. Here, Robinhood Legend brings to the table a seamless solution, allowing traders to execute transactions directly from charts with a single click. Moreover, members have the ability to trade from a watchlist, an options chain or a position window.

Essentially, traders can maintain situational awareness at all times, entering or exiting positions seamlessly without taking eyes off the live-feed analytics.

A Must-Have For Active Traders

Thanks to the underlying no extra cost framework for anybody with a Robinhood account, Legend's product offering seems purely accretive. Many advanced traders will likely be willing to pay big bucks for access to the analytics alone, which can help identify profitable setups and opportunities.

Most importantly, Legend's focus on desktop functionality ensures that traders who need real-time data across multiple sources will benefit from a more comprehensive experience than what's possible on mobile platforms. With sub-second data updates, users will always be cognizant of market movements, allowing for sharper, more responsive trading.

With the doors open, now's the perfect time to unlock the full potential of your trading experience with Robinhood Legend.

Featured photo by Pexels on Pixabay.

This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice.

Disclosure:

While there is no additional cost to use Legend, there are other fees associated with your individual investing account. Review our fee schedule for more information. 

Robinhood doesn't endorse or adopt any particular investment strategy or approach to evaluating individual securities or assets. Robinhood Legend use is for informational purposes only and is not a recommendation of any security, investing or trading strategy. Some of the capabilities of Robinhood Legend may be different or absent from what is offered via the Robinhood mobile app or Robinhood classic.  Please be sure to understand these differences and what might work best for you. Brokerage services offered through Robinhood Financial LLC (member SIPC), a registered broker dealer.