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Ally Invest vs Lightspeed 2019

Is Lightspeed better than Ally Invest? After scoring brokers in nine separate categories for our 2019 review, Ally Invest (62.44%) is better than Lightspeed (51.8%).

Ally Invest

Best for IRA Accounts Overall
Among the bank and brokerage combinations, Ally shines and competes with the best in the industry. Ally’s high-yield savings account is easy to use and offers competitive annual yields above 2%. Also, Ally does not nickel and dime its customers; it embraces no-fee banking. Read full review.

Lightspeed

2.5 Stars Overall
Lightspeed is a direct-access, online discount brokerage that focuses on serving active and professional traders through its in-house and third-party trading platforms. Casual traders beware though, not trading enough will mean getting stuck paying high monthly platform fees. Read full review.

Overall Rating

Feature Ally Invest Lightspeed
Overall 3 2.5
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 3.5 3
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Margin Rates

Feature Ally Invest Lightspeed
Under $24,999.99 9.50% 8.50%
$25,000.00 to $49,999.99 9.25% 8.50%
$50,000.00 to $99,999.99 8.50% 7.50%
$100,000.00 to $249,999.99 7.25% 7.50%
$250,000.00 to $499,999.99 6.25% 6.75%
$500,000.00 to $999,999.99 5.75% 6.25%
Above $1,000,000.00 5.00% 6.00%
Commissions & Fees 3.5 3
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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 3.5 3

Investment Options

Feature Ally Invest Lightspeed
Stock Trading
Yes Yes
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 4
Futures Trading
No Yes
Forex Trading
Yes No
Commission-Free ETFs all 0
Mutual Funds (No Load)
11234 0
Mutual Funds (Total)
18728 0
Bonds (US Treasury)
Yes Yes
Bonds (Corporate)
Yes No
Bonds (Municipal)
Yes No
Advisor Services
Yes No
International Trading
No No
Offering of Investments 4 3
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Order Types

Feature Ally Invest Lightspeed
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
Order Type - Contingent
Yes Yes
Order Type - MultiContingent
No Yes
Order Type - OCO
Yes Yes
Order Type - OTO
Yes Yes
Order Type - OTOCO
No Yes
Offering of Investments 4 3
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Trading Platforms

Feature Ally Invest Lightspeed
Desktop Platform (Windows)
No Yes
Desktop Platform (Mac)
No Yes
Web Platform
Yes Yes
Paper Trading
No Yes
Trade Journal
No No
Watch Lists - Total Fields
21 141
Heat Mapping
No No
Platforms & Tools 2.5 3
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Charting Features

Feature Ally Invest Lightspeed
Charting - Trade Off Chart
No Yes
Charting - Indicators / Studies
117 20
Charting - Drawing Tools
36 8
Charting - Historical Trades
No Yes
Charting - Corporate Events
Yes No
Charting - Automated Analysis
Yes No
Charting - Save Profiles
Yes Yes
Charting - Study Customizations
5 4
Charting - Custom Studies
No No
Platforms & Tools 2.5 3
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Day Trading

Feature Ally Invest Lightspeed
Stock Alerts - Basic Fields
Yes Yes
Stock Alerts - Advanced Fields
No No
Streaming Time & Sales
No Yes
Streaming TV
No No
Direct Market Routing - Stocks
No Yes
Direct Market Routing - Options
No Yes
Ladder Trading
No No
Trade Hot Keys
No Yes
Level 2 Quotes - Stocks
No Yes
Level 2 Quotes - Options
No Yes
Trade Ideas - Backtesting
Yes No
Short Locator
No Yes
Order Liquidity Rebates
No Yes
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Mobile Trading Apps

Feature Ally Invest Lightspeed
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
No No
Trading - Stocks
Yes Yes
Trading - After-Hours
No No
Trading - Conditional Orders
No No
Trading - Mutual Funds
No No
Trading - Simple Options
Yes No
Trading - Complex Options
Yes No
Trading - Option Rolling
No No
Touch / Face ID
Yes No
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Mobile App Features

Feature Ally Invest Lightspeed
Watch List Syncing
Yes No
Stock Alerts
No No
Charting - After Hours
No No
Charting - Drawing
No No
Charting - Study Customizations
No No
Heatmapping
No No
Stream Live TV
No No
Barcode Lookup
No No
Mobile Trading 3 1.5
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Research Overview

Feature Ally Invest Lightspeed
Research - Stocks
Yes Yes
Research - ETFs
Yes No
Research - Mutual Funds
Yes No
Research - Pink Sheets / OTCBB
Yes No
Research - Fixed Income
No No
Screener - Stocks
No Yes
Screener - ETFs
No No
Screener - Mutual Funds
No No
Screener - Options
No No
Screener - Bonds
Yes No
Misc - Portfolio Builder
Yes No
Misc - Portfolio Allocation
No No
Research 2 1
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Stock Research

Feature Ally Invest Lightspeed
Stock Research - Reports
2 0
Stock Research - Earnings
Yes No
Stock Research - Insiders
Yes Yes
Stock Research - Metric Comp
No No
Stock Research - SEC Filings
Yes No
Stock Research - Social
No Yes
Stock Research - Balance Sheet
Yes No
Stock Research - Cash Flows
Yes No
Stock Research - News
Yes Yes
Stock Research - ESG
No No
Research 2 1
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ETF Research

Feature Ally Invest Lightspeed
ETFs - Strategy Overview
Yes No
ETFs - Top 10 Holdings
No No
ETFs - Sector Exposure
No No
ETFs - Risk Analysis
Yes No
ETFs - Performance Analysis
Yes No
ETFs - Ratings
Yes No
ETFs - Morningstar StyleMap
No No
ETFs - Reports
Yes No
Research 2 1
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Mutual Fund Research

Feature Ally Invest Lightspeed
Mutual Funds - Strategy Overview
Yes No
Mutual Funds - Prospectus
No No
Mutual Funds - Reports
Yes No
Mutual Funds - Fees Breakdown
Yes No
Mutual Funds - Top 10 Holdings
No No
Mutual Funds - Asset Allocation
No No
Mutual Funds - Sector Allocation
Yes No
Mutual Funds - Country Allocation
No No
Mutual Funds - StyleMap
No No
Mutual Funds - 3rd Party Ratings
Yes No
Research 2 1
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Options Trading

Feature Ally Invest Lightspeed
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
8 60
Option Chains - Greeks
1 5
Option Chains - Quick Analysis
Yes Yes
Option Analysis - P&L Charts
Yes Yes
Option Probability Analysis
Yes No
Option Probability Analysis Adv
No No
Option Positions - Greeks
Yes Yes
Option Positions - Adv Analysis
Yes No
Option Positions - Rolling
No Yes
Option Positions - Grouping
Yes Yes
Platforms & Tools 2.5 3
Winner check_circle

Beginners

Feature Ally Invest Lightspeed
Has Education - Stocks
Yes Yes
Has Education - ETFs
No No
Has Education - Options
Yes Yes
Has Education - Mutual Funds
Yes No
Has Education - Fixed Income
Yes No
Has Education - Retirement
Yes No
Paper Trading
No Yes
Videos
No Yes
Webinars (Monthly Avg)
15 1
Webinars (Archived)
No Yes
Live Seminars
No No
Progress Tracking
No No
Interactive Learning - Quizzes
No No
Investor Magazine
No No
Education 3.5 2.5
Winner check_circle

Banking

Feature Ally Invest Lightspeed
Retail Locations
0 0
Member FDIC
Yes No
Checking Accounts
Yes No
Savings Accounts
Yes No
Credit Cards
Yes No
Debit Cards
Yes No
Mortgage Loans
Yes No
No Fee Banking
Yes No
Banking 4 0.5
Winner check_circle

Overall

Feature Ally Invest Lightspeed
Ally Invest Review Lightspeed Review
Overall 3 2.5
Winner check_circle

Using data from our latest annual broker review which tested more than a dozen different online brokers over six months, we can compare Ally Invest vs Lightspeed to determine which broker is best. Let's dive in.

First, we will break down the commission charges of both brokers for placing stock and options trades. Lightspeed, with its regular stock trades costing $4.50, is more expensive than Ally Invest's rate of $0 per trade. Looking at options, the base fees charged are the same for both brokers, $0. Option contracts are pricier at Lightspeed, costing $0.60 versus $0.50 at Ally Invest. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews.

Next, investors want to make sure they can trade the investment vehicle they want. Lightspeed provides its clients with Stock Trading, Options Trading and Futures Trading while Ally Invest provides clients access to Stock Trading, Options Trading, Mutual Funds and Forex Trading. As far as mutual funds go, Ally Invest boasts an offering of 14000 mutual funds compared to Lightspeed's 0 available funds.

Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Lightspeed offers virtual trading while Ally Invest does not. For mobile trading, Ally Invest along with Lightspeed both support the iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Clients can have Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans at Ally Invest while customers at Lightspeed can have none of these.

Overall, between Ally Invest and Lightspeed, Ally Invest is the winner.

Ally Invest Review
Lightspeed Review



All pricing data was obtained from a published web site as of 02/18/2019 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.

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