Is Ally Invest better than Lightspeed? After testing 15 of the best online brokers over five months, Ally Invest (79.49%) is better than Lightspeed (61.3%). Backed by Ally Financial, Ally Invest is a low-cost broker providing $0 stock and ETF trades. Ally’s complete universal-account management experience and easy to use website makes the brokerage great for current Ally Bank customers and everyday investors alike.
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Ally Invest vs Lightspeed 2020
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Overall Rating
| Feature | Ally Invest | Lightspeed |
| Overall | ||
| Ally Invest Review | Lightspeed Review |
Trading Fees
| Feature | Ally Invest | Lightspeed |
| Minimum Deposit | $0.00 | $10,000.00 |
| Stock Trade Fee (per trade) | $0.00 | $4.50 |
| ETF Trade Fee | $0.00 | $4.50 |
| Options Base Fee | $0.00 | $0.00 |
| Options Per Contract Fee | $0.50 | $0.60 |
| Mutual Fund Trade Fee | $9.95 | N/A |
| Broker Assisted Trades Fee | $20.00 | $25.00 |
| Commissions & Fees | ||
| Winner | check_circle |
Margin Rates
| Feature | Ally Invest | Lightspeed |
| Under $24,999.99 | 7.75% | 7.50% |
| $25,000.00 to $49,999.99 | 7.50% | 7.50% |
| $50,000.00 to $99,999.99 | 6.75% | 6.50% |
| $100,000.00 to $249,999.99 | 5.50% | 6.50% |
| $250,000.00 to $499,999.99 | 4.50% | 5.75% |
| $500,000.00 to $999,999.99 | 4.00% | 5.25% |
| Above $1,000,000.00 | 3.25% | 5.00% |
| Commissions & Fees | ||
| Winner | check_circle |
Account Fees
| Feature | Ally Invest | Lightspeed |
| IRA Annual Fee | $0.00 | $35.00 |
| IRA Closure Fee | $50.00 | $95.00 |
| Returned ACH Fee | $30.00 | $30.00 |
| Returned Wire Fee | $30.00 | $30.00 |
| Stock Certificate Processing Fee | $300.00 | $75.00 |
| Stock Certificate Delivery Fee | $300.00 | $50.00 |
| Paper Statement Fee | $2.00 | $5.00 |
| Paper Confirmation Fee | $1.00 | $2.00 |
| Domestic Wire Fee | $30.00 | $20.00 |
| International Wire Fee | N/A | $50.00 |
| Commissions & Fees |
Investment Options
| Feature | Ally Invest | Lightspeed |
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Stock Trading |
Yes | Yes |
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Fractional Shares |
No | No |
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OTCBB / Pink Sheets |
Yes | Yes |
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Options Trading |
Yes | Yes |
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Complex Options Max Legs |
4 | 4 |
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Futures Trading |
No | Yes |
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Forex Trading |
Yes | No |
| Commission-Free ETFs | all | 0 |
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Mutual Funds (No Load) |
11234 | 0 |
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Mutual Funds (Total) |
18728 | 0 |
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Bonds (US Treasury) |
Yes | Yes |
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Bonds (Corporate) |
Yes | No |
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Bonds (Municipal) |
Yes | No |
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Interest Sharing |
No | No |
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Advisor Services |
Yes | No |
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International Trading |
No | No |
| Offering of Investments | ||
| Winner | check_circle |
Order Types
| Feature | Ally Invest | Lightspeed |
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Order Type - Market |
Yes | Yes |
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Order Type - Limit |
Yes | Yes |
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Order Type - Stop |
Yes | Yes |
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Order Type - Trailing Stop |
Yes | Yes |
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Order Type - Contingent |
Yes | Yes |
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Order Type - MultiContingent |
No | Yes |
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Order Type - OCO |
Yes | Yes |
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Order Type - OTO |
Yes | Yes |
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Order Type - OTOCO |
No | Yes |
| Offering of Investments | ||
| Winner | check_circle |
Trading Platforms
| Feature | Ally Invest | Lightspeed |
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Desktop Platform (Windows) |
No | Yes |
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Desktop Platform (Mac) |
No | Yes |
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Web Platform |
Yes | Yes |
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Paper Trading |
No | Yes |
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Trade Journal |
No | No |
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Watch Lists - Total Fields |
21 | 141 |
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Heat Mapping |
No | No |
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AI Assistant Bot |
No | No |
| Platforms & Tools | ||
| Winner | check_circle |
Charting Features
| Feature | Ally Invest | Lightspeed |
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Charting - Trade Off Chart |
No | Yes |
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Charting - Indicators / Studies |
117 | 20 |
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Charting - Drawing Tools |
36 | 8 |
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Charting - Historical Trades |
No | Yes |
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Charting - Corporate Events |
Yes | No |
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Charting - Automated Analysis |
Yes | No |
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Charting - Save Profiles |
Yes | Yes |
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Charting - Study Customizations |
5 | 4 |
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Charting - Custom Studies |
No | No |
| Platforms & Tools | ||
| Winner | check_circle |
Day Trading
| Feature | Ally Invest | Lightspeed |
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Stock Alerts - Basic Fields |
Yes | Yes |
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Stock Alerts - Advanced Fields |
No | No |
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Streaming Time & Sales |
No | Yes |
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Streaming TV |
No | No |
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Direct Market Routing - Stocks |
No | Yes |
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Direct Market Routing - Options |
No | Yes |
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Ladder Trading |
No | No |
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Trade Hot Keys |
No | Yes |
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Level 2 Quotes - Stocks |
No | Yes |
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Level 2 Quotes - Options |
No | Yes |
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Trade Ideas - Backtesting |
Yes | No |
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Short Locator |
No | Yes |
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Order Liquidity Rebates |
No | Yes |
| Winner | check_circle |
Mobile Trading Apps
| Feature | Ally Invest | Lightspeed |
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iPhone App |
Yes | Yes |
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Android App |
Yes | Yes |
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Apple Watch App |
No | No |
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Trading - Stocks |
Yes | Yes |
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Trading - After-Hours |
No | No |
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Trading - Conditional Orders |
No | No |
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Trading - Mutual Funds |
No | No |
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Trading - Simple Options |
Yes | Yes |
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Trading - Complex Options |
Yes | Yes |
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Trading - Option Rolling |
No | No |
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Touch / Face ID |
Yes | No |
| Winner | check_circle |
Mobile App Features
| Feature | Ally Invest | Lightspeed |
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Watch List Syncing |
Yes | No |
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Stock Alerts |
No | Yes |
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Charting - After Hours |
No | No |
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Charting - Drawing |
No | No |
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Charting - Study Customizations |
No | No |
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Heatmapping |
No | No |
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Stream Live TV |
No | No |
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Barcode Lookup |
No | No |
| Mobile Trading | ||
| Winner | check_circle |
Research Overview
| Feature | Ally Invest | Lightspeed |
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Research - Stocks |
Yes | Yes |
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Research - ETFs |
Yes | Yes |
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Research - Mutual Funds |
Yes | No |
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Research - Pink Sheets / OTCBB |
Yes | No |
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Research - Fixed Income |
No | No |
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Screener - Stocks |
No | Yes |
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Screener - ETFs |
No | No |
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Screener - Mutual Funds |
No | No |
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Screener - Options |
No | No |
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Screener - Bonds |
Yes | No |
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Misc - Portfolio Builder |
Yes | No |
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Misc - Portfolio Allocation |
No | No |
| Research | ||
| Winner | check_circle |
Stock Research
| Feature | Ally Invest | Lightspeed |
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Stock Research - Reports |
2 | 0 |
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Stock Research - Earnings |
Yes | No |
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Stock Research - Insiders |
Yes | Yes |
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Stock Research - Metric Comp |
No | No |
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Stock Research - SEC Filings |
Yes | No |
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Stock Research - Social |
No | Yes |
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Stock Research - Balance Sheet |
Yes | No |
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Stock Research - Cash Flows |
Yes | No |
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Stock Research - News |
Yes | Yes |
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Stock Research - ESG |
No | No |
| Research | ||
| Winner | check_circle |
ETF Research
| Feature | Ally Invest | Lightspeed |
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ETFs - Strategy Overview |
Yes | No |
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ETFs - Top 10 Holdings |
No | No |
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ETFs - Sector Exposure |
No | No |
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ETFs - Risk Analysis |
Yes | No |
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ETFs - Performance Analysis |
Yes | No |
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ETFs - Ratings |
Yes | No |
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ETFs - Morningstar StyleMap |
No | No |
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ETFs - Reports |
Yes | No |
| Research | ||
| Winner | check_circle |
Mutual Fund Research
| Feature | Ally Invest | Lightspeed |
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Mutual Funds - Strategy Overview |
Yes | No |
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Mutual Funds - Prospectus |
No | No |
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Mutual Funds - Reports |
Yes | No |
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Mutual Funds - Fees Breakdown |
Yes | No |
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Mutual Funds - Top 10 Holdings |
No | No |
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Mutual Funds - Asset Allocation |
No | No |
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Mutual Funds - Sector Allocation |
Yes | No |
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Mutual Funds - Country Allocation |
No | No |
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Mutual Funds - StyleMap |
No | No |
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Mutual Funds - 3rd Party Ratings |
Yes | No |
| Research | ||
| Winner | check_circle |
Options Trading
| Feature | Ally Invest | Lightspeed |
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Option Chains - Streaming |
Yes | Yes |
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Option Chains - Total Columns |
8 | 60 |
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Option Chains - Greeks |
1 | 5 |
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Option Chains - Quick Analysis |
Yes | Yes |
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Option Analysis - P&L Charts |
Yes | Yes |
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Option Probability Analysis |
Yes | No |
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Option Probability Analysis Adv |
No | No |
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Option Positions - Greeks |
Yes | Yes |
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Option Positions - Adv Analysis |
Yes | No |
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Option Positions - Rolling |
No | Yes |
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Option Positions - Grouping |
Yes | Yes |
| Platforms & Tools | ||
| Winner | check_circle |
Beginners
| Feature | Ally Invest | Lightspeed |
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Education (Stocks) |
Yes | Yes |
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Education (ETFs) |
No | No |
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Education (Options) |
Yes | Yes |
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Education (Mutual Funds) |
Yes | No |
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Education (Fixed Income) |
Yes | No |
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Education (Retirement) |
Yes | No |
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Paper Trading |
No | Yes |
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Videos |
No | Yes |
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Webinars (Monthly Avg) |
15 | 1 |
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Webinars (Archived) |
No | Yes |
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Live Seminars |
No | No |
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Progress Tracking |
No | No |
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Interactive Learning - Quizzes |
No | No |
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Investor Magazine |
No | No |
| Education | ||
| Winner | check_circle |
Banking
| Feature | Ally Invest | Lightspeed |
|
Retail Locations |
0 | 0 |
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Member FDIC |
Yes | No |
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Checking Accounts |
Yes | No |
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Savings Accounts |
Yes | No |
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Credit Cards |
Yes | No |
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Debit Cards |
Yes | No |
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Mortgage Loans |
Yes | No |
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No Fee Banking |
Yes | No |
| Banking | ||
| Winner | check_circle |
Overall
| Feature | Ally Invest | Lightspeed |
| Ally Invest Review | Lightspeed Review | |
| Overall | ||
| Winner | check_circle |
Comparing brokers side by side is no easy task. For our 2020 annual broker review, we spent hundreds of hours assessing 15 brokerages to find the best online broker. Let's compare Ally Invest vs Lightspeed.
Is Ally Invest or Lightspeed better for beginners?
Ally Invest is better for beginner investors than Lightspeed. Ally Invest offers investors access to Education (Stocks), Education (Options), Education (Mutual Funds), Education (Fixed Income) and Education (Retirement).
What about Ally Invest vs Lightspeed pricing?
Lightspeed, with its regular stock trades costing $4.50, is more expensive than Ally Invest's rate of $0 per trade. For options trading, both Ally Invest and Lightspeed charge the same base fee of $0. Option contracts are pricier at Lightspeed, costing $0.60 versus $0.50 at Ally Invest. For a complete commissions summary, see our best discount brokers guide.
Does Ally Invest or Lightspeed offer a wider range of investment options?
Ally Invest offers a more diverse selection of investment options than Lightspeed. Ally Invest offers investors access to Stock Trading, OTCBB / Pink Sheets, Options Trading, Mutual Funds, Forex Trading and Advisor Services. Looking at Mutual Funds, Ally Invest boasts an offering of 18728 mutual funds compared to Lightspeed's 0 available funds.
Which trading platform is better: Ally Invest or Lightspeed?
To compare the trading platforms of both Ally Invest and Lightspeed, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Lightspeed offers a better experience. With research, Ally Invest offers superior market research. Finally, we found Ally Invest to provide better mobile trading apps.
Does either broker offer banking?
Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are available to clients of Ally Invest while Lightspeed offers customers none of these.
Overall, between Ally Invest and Lightspeed, Ally Invest is the better online broker.
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All pricing data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.
