Comparing brokers side by side is no easy task. For our 2014 broker review
, we factored in 266 different variables to assess 17 different brokers. So when taking a look at Fidelity Investments vs Lightspeed Trading, there is a huge database of information available to us.
To start this comparison, first we will take a look at the broker commission rates for placing regular stock and options trades. Fidelity Investments, with its regular stock trades costing $7.95, is more expensive than Lightspeed Trading's rate of $3.00 per trade. With options, the base fees charged are $7.95 (Fidelity Investments) and $0.00 (Lightspeed Trading). Each contract then costs $0.75 at Fidelity Investments and $0.60 at Lightspeed Trading for a difference in price of $0.15 per contract. Not all brokers charge a flat rate fee per trade though, so it is important to read the full commission notes to know the complete breakdown (go to any stock broker review
page, then click the "Commissions & Fees" tab).
Next to commission rates, being able to trade the instrument you want is important. Lightspeed Trading supports Stock Trading, Options Trading, Forex Trading and Futures Trading while Fidelity Investments supports Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, Lightspeed Trading trails Fidelity Investments by 14,391.00 total funds, with Fidelity Investments offering 14391 and Lightspeed Trading offering 0. Commission free ETFs also should not be forgotten, Fidelity Investments offers 76 versus Lightspeed Trading's total of 0.
Lastly, taking a look at popular features and functionality, we can go a bit deeper to really break down the difference of both brokers. Lightspeed Trading makes virtual trading available to clients, while Fidelity Investments does not. Taking a look at mobile trading, Fidelity Investments supports the iPhone App, iPad App and Android App while Lightspeed Trading supports the none of these. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Checking Accounts, Savings Accounts, Debit Cards and Credit Cards are offered by Fidelity Investments while Lightspeed Trading offers none of these. On the whole, when it comes to tools, research, and trading on the go, Fidelity Investments finished with awards for Best in Class Platforms & Tools, Best in Class Research and Best in Class Mobile Trading in 2014, while Lightspeed Trading came up with none of these.
Overall, Fidelity Investments takes the upper hand with 4.50 stars over Lightspeed Trading's 3.00 stars.