Robinhood Expands Trading Services with Futures and Index Options

Robinhood has unveiled a significant expansion of its trading offerings, introducing index options and futures trading alongside the launch of its new desktop platform, Robinhood Legend.

These new tools, announced at the HOOD Summit in Miami, are aimed at catering to more advanced retail investors looking for diverse and sophisticated trading capabilities.

Thanks to a partnership with Cboe Global Markets, Robinhood users will soon have access to popular index options like the S&P 500, VIX, and Russell 2000. Additionally, futures trading on assets such as Bitcoin, oil, and the S&P 500 will soon be available through Robinhood’s mobile app, providing traders with even more ways to tap into global markets.

The launch of Robinhood Legend, a desktop platform featuring advanced charting tools and customizable layouts, is designed to meet the needs of more active traders. "With Robinhood Legend, futures, and index options, we're empowering our customers to fully leverage the markets," said Vlad Tenev, Robinhood’s CEO.

This expansion arrives as demand for options trading continues to rise. In Q2 2024, Robinhood’s options trading revenue surged by 43% year-over-year, generating $812 million for the company.

By offering these new features, Robinhood is positioning itself to meet the evolving needs of a growing community of retail traders seeking more sophisticated trading tools and access to a broader range of assets.