(Reuters) - Robinhood's entry into futures trading this year could be met with some caution by retail traders using its commission-free platform if it charges a fee, J.P. Morgan analysts said on Thursday.

The company has not yet disclosed its plans, but orders for futures and options are often costlier to execute than stocks, which could result in it charging a fee to cover additional costs.

The product is a crucial step in Robinhood's effort to grow into a full-fledged financial services provider by being a platform of choice for retail investors looking to dabble in more complex financial products.

Robinhood did not immediately respond to Reuters request for comment on its rollout plan. It already charges 3 cents per contract for options trading tied to stocks and exchange-traded funds.

J. P. Morgan analysts said charging a fee for futures trading would mark a "structural" difference for the company known for pioneering commission-free trades.

"We are skeptical of success when considering the new economics of the (index options and futures) offerings," J.P. Morgan said.

"Given Robinhood's value proposition has been 'commission-free' trading, we see this structural difference that will necessitate a change in client behavior presenting potential adoption risk."

As part of its growth push, Robinhood has over the years rolled out retirement accounts and a credit card. It has also made margin investing - a riskier form of trading - cheaper and diversified its business through acquisitions.

GAINING MARKET SHARE

Robinhood CFO Jason Warnick said on Wednesday the company has been gaining market share in options trading linked to stocks and exchange-traded funds.

Options revenue surged 43% to $182 million in the three months ended June 30, while the number of options contracts traded jumped 38%.

"We have several major advantages relative to what you see elsewhere in the options market," CEO Vlad Tenev said.

Compared to its 3 cents per contract charge for option products, Tenev said, "Most of our competitors charge $0.65 a contract, which can add up if you're an active trader."

(Reporting by Niket Nishant and Manya Saini in Bengaluru; Editing by Arun Koyyur)