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 Trading. Is Ally Invest or Lightspeed Trading 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 Trading which charges customers $4.50 per trade. With options, the base fees charged are $4.95 (Ally Invest) and $0 (Lightspeed Trading). Lightspeed Trading'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 Trading offers clients Stock Trading, Options Trading and Futures Trading while Ally Invest offers 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 Trading's 0 available funds. Commission free ETFs can also be a nice plus, Ally Invest offers 116 commission free ETFs versus Lightspeed Trading's total of 0.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Lightspeed Trading has virtual trading, Ally Invest doesn't. For mobile trading, Ally Invest along with Lightspeed Trading both support the 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 Trading offers none of these. On the whole, when it comes to tools, research, and mobile trading, unfortunately, neither Ally Invest nor Lightspeed Trading received awards Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Ally Invest boasts 3.50 stars versus Lightspeed Trading's 3.00 stars.