Robinhood has added another highly anticipated feature to its commission-free trading platform.
The disruptive brokerage app this week launched commission-free, multileg options trading on its platform.
Since launching free options trading in December, Robinhood said it has done $2 billion in premium options transaction volume, making it one of the largest options trading platforms.
Multileg trading was the most requested feature and will give users more control over users investments, according to Robinhood.
“Users are saving a lot. Options trade at a much higher commission than equities, so people are saving a lot more on options than they are on equities.”
Robinhood, which recently hit a $5.6-billion valuation in its latest funding round, said it is launching a “Discover” platform to educate traders on the risks associated with options trading.
“Discover adds a lot of information on what to expect when trading options,” O’Neil said, including graphics that detail the costs and payouts.