The StockBrokers.com annual broker review assesses more than a dozen different brokers over six months, surfacing the best online stock brokers
. This review compares Ally Invest vs Lightspeed. Is Ally Invest or Lightspeed a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. Ally Invest charges $4.95 per stock trade which is $0.45 more than Lightspeed which charges customers $4.50 per trade. For options trading, Ally Invest has a base fee of $4.95, and Lightspeed a base fee of $0. Lightspeed's per contract rate of $0.60 is less than Ally Invest which charges $0.65. Note that some brokers charge a per-share fee instead of a flat-fee commission. For a full breakdown of commissions, read our online broker reviews
For our next comparison of these two brokers, being able to trade the way you want is a must. Lightspeed supports Stock Trading, Options Trading and Futures Trading while Ally Invest supports Stock Trading, Options Trading, Mutual Funds and Forex Trading. When it comes to mutual funds, Ally Invest boasts an offering of 14000 mutual funds compared to Lightspeed's 0 available funds.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Lightspeed makes virtual trading available to clients, while Ally Invest does not. For mobile trading, Both Ally Invest and Lightspeed offer clients access to an iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Ally Invest while Lightspeed offers none of these.
Overall, between Ally Invest and Lightspeed, Ally Invest is the winner
Ally Invest Review