US broker Robinhood announced on Wednesday that it has launched its desktop trading platform – ‘Robinhood Legend’ – for clients in the UK.
The platform is a more advanced offering that provides users with different features, like technical analysis tools, a customisable dashboard, and various charting options.
Users can also access separate parts of the platform for investing in stocks or trading options.
The platform is free to access for anyone with a Robinhood account and also offers users real time data in the markets available to the broker’s UK customers.
“The goal is for Robinhood to be the number one platform for active investors globally,” said Jordan Sinclair, President of Robinhood UK.
“Robinhood Legend gives UK investors the speed, precision, and customisation they need to stay ahead of the curve — with a platform that’s powerful, intuitive, beautifully designed, and free. It’s the new standard for modern trading in the UK, and still only the beginning of what we’re building here.”
Robinhood options cross sell
A key part of the platform’s UX is a clear delineation between options and stocks trading.
Although there are clear usability reasons for that – options analysis is very different from looking at a stock chart – it’s also another way of cross selling users into options.
Robinhood’s business model has always been to attract clients with equities and then switch them into higher revenue crypto and options trading.
Ultimately the goal of the product has to reflect that but also balance against the fact that many providers only want to use the platform to invest in equities.
