The Legend Awakens: Introducing Robinhood Legend, Futures Trading, and Index Options

Robinhood is rolling out a suite of new advanced trading tools built from the ground up for active traders

Today, to kick off HOOD Summit–our first-ever customer-focused conference geared towards active traders–we announced Robinhood Legend, a powerful, sleek desktop trading platform built specifically for active traders. We’re also launching futures trading and index options on mobile. We’re giving customers access to sophisticated advanced trading tools designed for active traders who believe that intuitive, beautiful products can be a powerful advantage while trading. 

“With Robinhood Legend, futures, and index options, we’re helping customers harness the full power of the markets so they can take control of their financial future,” said Vlad Tenev, Chairman and CEO of Robinhood.

Robinhood Legend

We’re excited to introduce Robinhood Legend, a new powerful, sleek browser-based desktop trading platform built specifically for active traders that is fully customizable and available at no additional cost to anyone with a Robinhood account. 

“In looking at the landscape of trading tools and by talking with active traders, we realized there is frustration with legacy offerings,” said Steve Quirk, Chief Brokerage Officer at Robinhood. “Specifically, moving back and forth between apps or charting platforms can be cumbersome and time consuming. So we set out to reimagine what a modern, intuitively designed active trading platform should look like, and built Robinhood Legend from the ground up so traders can do what they need in one place.”

This is the next big evolution for Robinhood, giving active traders:  

• Advanced trading tools: Customers can have up to 8 charts in a single window, with dozens of chart settings and access to several chart types, including candle, line, Heikin Ashi, and more. They can also add a number of technical indicators including moving averages, Bollinger Bands, Ichimoku Cloud, VWAP, and more, or leverage drawing tools including horizontal lines, trend lines, and Fibonacci tools, among others. Customers can also view data in custom intervals down to the tick. 
• Deeper Analysis: Outside of charts, Robinhood Legend also offers deeper analysis capability, with dozens of metrics that traders can use to monitor and analyze assets in their watchlist, open orders, positions, and option contracts on an option chain.
• Real-time data: Customers can keep a pulse on the market with real time data updating at sub-second intervals. 
• Custom and preset layouts: Customers can set up their ideal trading platform in seconds using their own custom layout or by choosing from a group of layout templates.
• Make trades with ease: Once they’re set up and ready, it’s easy for customers to initiate trades–they can generate order forms with one click directly from a watchlist, their positions or an option chain. They can also trade directly on a chart. 
• Dynamic linking: Customers can link widgets to create synced groups, and can instantly update symbols across layouts and tabs, even across multiple monitors. 

Futures at Robinhood

You asked and we delivered. We’re launching futures trading directly in the Robinhood app, letting customers trade the S&P 500, oil, Bitcoin, and more. 

“We’re doing futures the Robinhood way,” said JB Mackenzie, VP and GM of Futures and International at Robinhood. “With some of the lowest fees in the industry and an elegant mobile user interface that allows customers to trade simply, quickly, and efficiently, there will be no reason to trade futures anywhere else.”

With futures trading at Robinhood customers will be able to: 

• Trade with one tap and no PDT rules: Trade simply and efficiently at the speed of a tap with our sleek new trading ladder. Plus, with futures there are no pattern day trading rules, greeks, or time decay.  
• Enjoy low commissions: Access commissions as low as $0.50 with Robinhood Gold ($0.75 for non-Gold members), along with free, real-time market data. 
• Get 60/40 tax treatment: Take advantage of futures’ 60/40 tax rule with 60% of gains taxed as long-term capital gains. 
• Trade nearly 24 hours a day: Trade the news as it breaks with futures’ nearly 24 hour trading window.

Customer safety is paramount to us at Robinhood which is why customers must be approved to trade futures at Robinhood. We also offer a number of educational resources to help customers make informed decisions. This includes futures articles on Robinhood Learn, which are available directly in the app or on our website, as well as a series of YouTube videos that will roll out over the coming months and provide additional information on what futures are, how to trade them, and more. 

Index Options

In addition to launching futures, we’re adding support for another asset class that our experienced traders have been asking for: index options. Like futures, index options offer tax advantages as they are subject to the 60/40 tax rule with 60% of gains taxed as long-term capital gains. Since they are cash-settled and European-style, index options also have no early assignment risk and can be traded any time right up to expiration. 

Not only will customers be able to trade index options on the Robinhood App using our easy and intuitive mobile interface, but the contract fee will also be among the lowest in the industry at just $0.35 per contract for Gold members ($0.50 cents for non-Gold members), excluding regulatory and exchange fees. 

Availability

Robinhood Legend started rolling out today and will become available to all eligible customers over the coming months. Futures and index options will begin rolling out to customers in the coming months. At launch, futures and index options will only be available on the Robinhood mobile app–support on Robinhood Legend will follow.  

But we’re not stopping there. We’ve heard loud and clear that our active traders want even more ways to help them stay on top of their portfolio’s performance–both past and present. That’s why starting next week we are rolling out a new tool that allows customers to see realized profit and loss information on all trades since January 1, 2024. Customers can use the new P&L tool to analyze, sort, or review trades by date, time, symbol, or profit and loss amount. This is just another way we’re giving active traders the knowledge they need to make better decisions as they plan for the future. 

To celebrate these new products and officially kick off the start of HOOD Summit, we’re launching a suite of uncapped bonuses for customers who transfer stocks, cash, options, margin balances, IRAs, and more into Robinhood between now and October 27. Eligible customers who start a transfer to Robinhood by October 27 can earn: 

• 1% on brokerage account transfers
• 2% on account transfers with at least $10k in margin balance
• 3% on IRA transfers for Robinhood Gold subscribers

For more information about Robinhood and these bonuses please visit robinhood.com/hoodweek. For more information about HOOD Summit visit go.robinhood.com/events. 

Disclosures:

Investing involves risks, including the loss of principal. Robinhood Financial LLC and Robinhood Securities, LLC do not guarantee any returns or outcomes, and past performance is no guarantee of future results.

HOOD Summit 2024 is sponsored by Robinhood Financial LLC. Sherwood Media, LLC hosts certain event sessions, and generally produces fresh and unique perspectives on topical financial news.

Futures trading involves significant risk and is not appropriate for every investor. There is a possibility that you may lose all of your initial investment. Customers must be approved for futures trading and meet certain requirements.

Commission-free trading of stocks, ETFs and equity options refers to $0 commissions for Robinhood Financial self-directed brokerage accounts that trade U.S. listed securities and certain OTC securities electronically. Index options are subject to a $0.50 per contract fee for non-Gold customers. Keep in mind, other fees such as trading (regulatory/exchange) fees, wire transfer fees, and paper statement fees may apply to your brokerage account. Please see Robinhood Financial’s Fee Schedule to learn more regarding brokerage transactions. Please see Robinhood Derivatives’ Fee Schedule to learn more about commissions on futures transactions.

Unlike equity and ETF options, index options have some unique features that should be understood before investing in them. This includes, but is not limited to, settlement, exercise, expiration, tax, and cost characteristics.

Options trading entails significant risk and is not appropriate for all customers. Customers must read and understand the Characteristics and Risks of Standardized Options before engaging in any options trading strategies. Options transactions are often complex and may involve the potential of losing the entire investment in a relatively short period of time. Certain complex options strategies carry additional risk, including the potential for losses that may exceed the original investment amount.

Tax treatments mentioned in this article are based on U.S. federal tax laws and are subject to change. Individual tax situations may vary, and customers should consult their tax advisor.

Eligible customers who transfer assets into Robinhood accounts by October 27 can earn bonuses. Uncapped bonus amounts are subject to the value of assets transferred and specific eligibility criteria.  Terms and conditions apply. Please visit https://robinhood.com/us/en/support/articles/hood-week/ for full details.

Robinhood Financial LLC (member SIPC), is a registered broker dealer. Robinhood Securities, LLC (member SIPC), is a registered broker dealer and provides brokerage clearing services. Cryptocurrency services are offered through an account with Robinhood Crypto, LLC. Robinhood Derivatives, LLC, is a registered futures commission merchant with the Commodity Futures Trading Commission (CFTC) and Member of National Futures Association (NFA). Robinhood Gold is a subscription–based membership program of premium services offered through Robinhood Gold, LLC.

All are subsidiaries of Robinhood Markets, Inc. (‘Robinhood’).

Cautionary Note Regarding Forward-Looking Statements

This blog post contains forward-looking statements, including with respect to the launches of several new products and features by Robinhood Markets, Inc. and its consolidated subsidiaries (“we,” “our,” “Robinhood,” or the “Company”) and our strategic and operational plans, including (among others) statements regarding that we are launching futures trading and index options on mobile; that we’re giving customers access to sophisticated advanced trading tools designed for active traders who believe that intuitive, beautiful products can be a powerful advantage while trading; that with Robinhood Legend, futures, and index options, we’re helping customers harness the full power of the markets so they can take control of their financial future; that we’re excited to introduce Robinhood Legend, a new powerful, sleek browser-based desktop trading platform built specifically for active traders that is fully customizable and available at no additional cost to anyone with a Robinhood account; that we’re launching futures directly in the Robinhood app; that with trading futures at Robinhood customers will be able to trade with one tap and no PDT rules, enjoy low commissions (as low as $0.50 with Robinhood Gold and $0.75 for non-Gold members), get 60/40 tax treatment, and trade nearly 24 hours a day; that in addition to launching futures, we’re adding support for another asset class that our experienced traders have been asking for: index options; that not only will customers be able to trade index options on the Robinhood App using our easy and intuitive mobile interface, but the contract fee will be among the lowest in the industry  at just 35 cents per contract for Gold members ($0.50 cents for non-Gold members), excluding regulatory and exchange fees; that Robinhood Legend started rolling out today, and will become available to all eligible customers over the coming months; that futures and index options will begin rolling out to customers in the coming months; that at launch futures and index options will only be available on the Robinhood mobile app and that support on Robinhood Legend will follow; that starting next week we are rolling out a new tool that allows customers to see realized profit and loss information on all trades since January 1, 2024; and that we’re launching a suite of uncapped bonuses for customers who transfer stocks, cash, options, margin balances, IRAs, and more into Robinhood between now and October 27. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as “believe,” “may,” “will” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “estimate,” “predict,” “potential,” or “continue,” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Our forward-looking statements are subject to a number of known and unknown risks, uncertainties, assumptions, and other factors that may cause our actual future results, performance, or achievements to differ materially from any future results expressed or implied in this blog post. Factors that contribute to the uncertain nature of our forward-looking statements include, among others: our limited operating experience at our current scale; the difficulty of managing our business effectively, including the size of our workforce; the risk that changes in business, economic, or political conditions that impact the global financial markets, or a systemic market event, might harm our business; the difficulty of complying with an extensive, complex, and changing regulatory environment and the need to adjust our business model in response to new or modified laws and regulations; the possibility of adverse developments in pending litigation and regulatory investigations; the effects of competition; our need to innovate and invest in new products, services, technologies, and geographies in order to attract and retain customers and deepen their engagement with us in order to maintain growth; our reliance on third parties to perform some key functions and the risk that processing, operational or technological failures could impair the availability or stability of our platforms; and our need as a regulated financial services company to develop and maintain effective compliance and risk management infrastructures. Because some of these risks and uncertainties cannot be predicted or quantified and some are beyond our control, you should not rely on our forward-looking statements as predictions of future events. More information about potential risks and uncertainties that could affect our business and financial results can be found in Part II, Item 1A of our Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, as well as in our other filings with the SEC, all of which are available on the SEC’s web site at www.sec.gov. Moreover, we operate in a very competitive and rapidly changing environment; new risks and uncertainties may emerge from time to time, and it is not possible for us to predict all risks nor identify all uncertainties. The events and circumstances reflected in our forward-looking statements might not be achieved and actual results could differ materially from those projected in the forward-looking statements. Except as otherwise noted, all forward-looking statements are made as of the date of this blog post, October 16, 2024 and are based on information and estimates available to us at this time. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we cannot guarantee future results, performance, or achievements. Except as required by law, Robinhood assumes no obligation to update any of the statements in this blog post whether as a result of any new information, future events, changed circumstances, or otherwise. You should read this blog post with the understanding that our actual future results, performance, events, and circumstances might be materially different from what we expect.

3936415