US brokerage fintech Robinhood is bringing its specialist desktop trading platform to the UK, as it looks to drive up active trader numbers.
Robinhood, famed for bringing commission-free trading to the market, launched in the UK in March last year offering investors commission–free trading in thousands of US-listed stocks including Tesla, Amazon and Apple.
It has since beefed up its offering by bringing more US products to the UK, such as options trading and margin trading.
As well as bringing its US products to the UK, it is also launching UK-specific products, such as a soon-to-launch fee-free stocks and shares ISA.
Its latest US import to the UK is Robinhood Legend, a specialist desktop trading platform, with advanced trading tools, primarily aimed at active, not casual, traders.
Tech.eu revealed in February this year that Robinhood Legend was likely to be its next UK product.
Robinhood Legend offers traders in-depth features, including a personalised setup for traders, deep analytic tools and real-time data.
Vlad Tenev, Robinhood CEO and co-founder, previously told CNBC: “We have done very well on mobile historically among younger people.
“But about half the market is on desktop web, where you have more real estate on the screen, you can do more sophisticated things like have charts and data and the trading in the same interface. We weren’t really a player in that space.”
Jordan Sinclair, president, Robinhood, UK, said: “While mobile experience is really important, desktop is still top of mind, it is a big share of wallet for customers, it is important for active traders.”
Sinclair added: “Robinhood Legend is designed for those who believe that sophisticated yet intuitive, beautiful products can be a powerful advantage while trading.”
Robinhood Legend is free for those with a Robinhood account.
Robinhood says that its data shows that only one-third of desktop traders are content with their existing trading platform, with a lack of customisation and challenging navigation as the biggest pain points among those who aren’t satisfied.
Robinhood recently revealed that it has more than 150,000 customers in the UK and the EU.
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