StockBrokers.com has received word that Lightspeed Trading today revealed a new flat rate, $.005 per share pricing plan.
This means both Lightspeed and discount commissions leader Interactive Brokers now charge the same rate for per share, flat rate trades. Both brokers have a $1 minimum ticket charge, however Interactive Broker’s does have a slight advantage still by capping the cost of all trades at .5% of the total trade value.
We asked Lightspeed about the announcement, and Mike Sedek, Chief Customer Officer, stated, “It basically allows customers to have a more stable cost structure by eliminating the variability of routing/exchange fees. At the same time, traders retain the flexibility of having the ability to route to the other 100 or so destinations we offer if they have a need to do so (in which case they would pay the related routing charges).”
Currently, Lightspeed charges $.0045 per share for regular equity trades plus/minus market fees. This new rate will certainly help the broker stand out and give current, alongside new clients, one more reason to use the broker.
Lightspeed was ranked #1 for Active Trading in our 2013 Stock Broker Review.