Robinhood Legend: The New Robinhood Desktop App
This article will explore the Robinhood Desktop App, also known as Robinhood Legend, which was accounced at the first ever HOOD Summit on October 16th, 2024.
Overview of Robinhood Legend: The Robinhood Desktop App
Robinhood Legend is the new Robinhood desktop app, and it is accessible via the Robinhood website without downloading any software. You can trade stocks, options, index options, crypto, and even futures on the new Robinhood Legend platform. Additionally, it offers 24-hour trading for thousands of stocks and ETFs.
Pros and Cons of Robinhood Legend
Pros of Robinhood Legend
- Access multiple charts per layout
- Highly customizable
- User-friendly interface
Cons of Robinhood Legend
- Limited tools compared to dedicated charting platforms
- Occasional outages and stability issues
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What is the Robinhood Desktop App?
The Robinhood Desktop app, or Robinhood Legend, is a web-based trading platform built for active traders. You can build the platform however you want due to its highly customizable interface. You can set up the platform on multiple monitors, trade directly from the charts, and view all of your order history on a single dashboard. Robinhood also offers some of the industry’s lowest commissions for all assets.
Features of Robinhood Legend Desktop App
- User interface and design: Robinhood’s clean and intuitive interface makes it easy for beginners to navigate and understand the platform.
- Supported investments and assets: Users can trade stocks, cryptocurrencies, ETFs, futures, options, and index options.
- Trading tools and resources: Robinhood offers charting tools, watchlists, and news updates to help users make informed trading decisions.
- Multiple charts per layout: You can use several monitors with the new Robinhood Legend desktop app.
- Low commission rates: Robinhood’s futures commissions start at just $0.50 per contract for gold members, which is incredibly competitive.
TradingView: A More Advanced Alternative
For traders seeking more advanced charting capabilities and technical analysis tools, TradingView may be a better option.
This platform offers a wide range of customizable charts, indicators, and drawing tools, making it a more comprehensive choice for experienced traders.
Comparing charting capabilities with Robinhood Desktop App
While Robinhood for Web offers basic charting tools, TradingView’s platform provides a superior charting experience with numerous customization options and advanced tools.
This makes TradingView more suitable for in-depth analysis and informed decision-making. You can use TradingView for charting and Robinhood to place your orders if you don’t wish to use a broker compatible with TradingView.
Accessing TradingView
To explore TradingView’s features and see how it compares to the Robinhood Desktop App, you can view the TradingView website.
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- Advanced Charts
- Real-Time Data
- Track all Markets
When to choose TradingView over Robinhood Desktop App
- If you require advanced charting and technical analysis tools
- If you need more customization options for your charts
- If you are an experienced trader seeking a more comprehensive platform
Robinhood’s Desktop App | Bottom Line
The Robinhood Desktop App is a user-friendly, commission-free trading platform suitable for beginners and casual investors.
However, for those looking for more advanced charting and technical analysis tools, TradingView offers a more comprehensive and customizable experience.
