Introducing Robinhood Legend, a New Frontier for Active Traders

There’s a powerful new trading platform for active traders looking to take their trading to the next level. Leading the charge is Robinhood’s trading platform, Legend, which launched in October and is free to anyone with a Robinhood account. The browser-based trading platform is built specifically for active traders and features a fully customizable platform allowing users to analyze, build, and execute trading strategies. The platform can be accessed from any device, appealing to active individuals who split their time in multiple locations or travel often.

“We’re helping customers harness the full power of the markets so they can take control of their financial future,” says Vlad Tenev, chairman and CEO of Robinhood.

Advanced trading platforms are essential for active traders, providing speed, flexibility, and depth of analysis needed to identify opportunities and execute trades efficiently. Robinhood Legend combines a highly customizable interface, institutional-grade charting, technical analysis features, and seamless execution.

Customizable Templates

Toggling between apps or charting platforms can be cumbersome and time-consuming. Robinhood’s platform is designed so everything is in one place. Traders can build their ideal setup using preset templates and customizable layouts.

“In looking at the landscape of trading tools and by talking with active traders, we realized there is frustration with legacy offerings,” says Steve Quirk, chief brokerage officer at Robinhood.

“We set out to reimagine what a modern, intuitively designed active trading platform should look like,” he adds.

Widgets can be resized, repositioned, and linked, ensuring the most critical information is always front and center​. Features like widget linking allow users to create synced groups and get instant update symbols across layouts and tabs.

Powerful Charts

Robinhood Legend’s platform also offers capabilities that were once the exclusive domain of dedicated trading software: multiple chart layouts, dozens of technical indicators, and the ability to execute trades directly from charts.

Traders can perform deep technical analysis with dozens of tools, including advanced features like Fibonacci retracements, Bollinger Bands, and VWAP indicators—tools that serious traders consider essential for market analysis. Drawing tools allow customers to annotate charts in real-time. Users can adjust charts to see market trends unfold by the day, hour, minute, or second.

Users can monitor up to eight charts in a single window, each with customizable technical indicators, drawing tools, and real-time data updates at sub-second interval updates​.

Robinhood also rolled out a new tool that allows customers to see realized profit and loss information on all trades since January 1, 2024. Users can use the tool to analyze, sort, or review traders by date, time, symbol, or profit and loss amount.

Easy Execution

Once set up, Legend makes it easy for users to trade. Traders can generate order forms directly from a watchlist, their positions, or an option chain, all with one click. They can also trade directly on a chart or edit orders from within it.

Legend integrates with Robinhood’s new options trading, which allows traders to build and execute sophisticated options strategies. Users can create vertical spreads, calendar spreads, strangles, and straddles directly from the platform. The options rolling feature lets traders seamlessly adjust or extend their positions, though it’s important to note that rolling involves closing existing positions and opening new ones.

Low Cost

Traditional active trading platforms often charge hefty fees for real-time data, advanced charting, and options trading. Robinhood Legend challenges this model by offering commission-free trading for stocks and ETFs, low margin rates for Gold subscribers, and not charging equity options contract fees. Low or no fees mean active traders can put more capital into investments rather than additional costs.

In addition, Robinhood offers 24/7 customer service. Users can chat or request a callback anytime, ensuring help is available whenever markets are active. The platform’s browser-based architecture also means updates and improvements can be deployed without needing downloads or installations. For active traders seeking sophisticated, flexible trading tools, Robinhood Legend has arrived, introducing a new way to trade.