Robinhood is enhancing its services to appeal to more experienced traders, introducing Bitcoin and Ethereum futures alongside traditional commodities like oil and the S&P 500. This move is part of the platform’s broader strategy to attract a wider range of investors, especially those seeking more advanced trading opportunities.
New Futures Trading Options Coming Soon
A spokesperson from Robinhood confirmed that Bitcoin and Ethereum futures, as well as micro contracts for both, will be available in the coming months. These additions are intended to provide more sophisticated trading tools within the app, making futures trading more accessible to a broader audience.
Introducing Robinhood Legend: A Platform for Active Traders
Robinhood made the announcement during its first-ever HOOD Summit, a customer conference where it also revealed its latest desktop platform, Robinhood Legend. This new platform is designed for active traders, offering advanced tools, real-time data, and the ability to trade futures and index options all within one app.
By entering the derivatives market, Robinhood is positioning itself as a competitor to established brokers like Charles Schwab and E*TRADE, both of which already offer cryptocurrency futures. As Bitcoin prices near record highs, Robinhood’s move to offer futures trading comes at a time of increasing interest in digital assets.
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Cost-Effective Futures Trading for All
Robinhood’s focus on providing cost-effective solutions is clear, with Gold subscribers able to trade futures contracts for as little as $0.50 per contract, while non-Gold users will pay $0.75, making it one of the most affordable platforms compared to traditional brokerages.
The launch of Robinhood Legend, combined with low-cost futures trading, is expected to attract cryptocurrency traders looking for diversified exposure to assets like Bitcoin. The platform includes features such as advanced charting tools, customizable layouts, and real-time data, providing traders with everything they need for informed decision-making within a single platform.
Robinhood plans to roll out support for futures and index options gradually, with a full launch expected by 2024.
Disclaimer: Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.
