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Ally Invest vs Lightspeed 2020

StockBrokers.com | January 16th, 2020

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  3. Ally Invest vs Lightspeed Review

Is Ally Invest better than Lightspeed? Based on over 4,000 data points from our 2019 annual broker review, Ally Invest (62.44%) is better than Lightspeed (51.8%).

Ally Invest

Best for Ally customers
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. Read full review

Lightspeed

Lightspeed Trader
Lightspeed is a direct-access online brokerage that focuses on serving active and professional traders through its in-house and third-party trading platforms. Casual traders beware, not trading enough means 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
Winner check_circle

Margin Rates

Feature Ally Invest Lightspeed
Under $24,999.99 9.50% 8.00%
$25,000.00 to $49,999.99 9.25% 8.00%
$50,000.00 to $99,999.99 8.50% 7.00%
$100,000.00 to $249,999.99 7.25% 7.00%
$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
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 3.5 3

Investment Options

Feature Ally Invest Lightspeed
Stock Trading
 Yes Yes
Fractional Shares
 No No
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
Winner check_circle

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
Winner check_circle

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
Winner check_circle

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
Winner check_circle

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
Winner check_circle

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 Yes
Trading - Complex Options
 Yes Yes
Trading - Option Rolling
 No No
Touch / Face ID
 Yes No
Winner check_circle

Mobile App Features

Feature Ally Invest Lightspeed
Watch List Syncing
Yes No
Stock Alerts
 No Yes
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
Winner check_circle

Research Overview

Feature Ally Invest Lightspeed
Research - Stocks
 Yes Yes
Research - ETFs
 Yes Yes
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
Winner check_circle

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
Winner check_circle

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
Winner check_circle

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
Winner check_circle

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

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. Lightspeed charges more than Ally Invest for placing regular stock trades ($4.50 and $0, respectively). Looking at options, the base fees charged are the same for both brokers, $0. Each option contract then costs $0.60 at Lightspeed and $0.50 at Ally Invest. 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 offers its clients access to 18728 different mutual funds while Lightspeed has 0 available funds, a difference of 18,728.

Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Lightspeed has virtual trading, Ally Invest doesn't. For mobile trading, Ally Invest and Lightspeed both have a 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 available to clients of Ally Invest while Lightspeed offers customers none of these.

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

Ally Invest Review
Lightspeed Review

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All pricing data was obtained from a published web site as of 01/14/2020 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.

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