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 Charles Schwab vs Lightspeed. Is Charles Schwab or Lightspeed a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. Charles Schwab, with its regular stock trades costing $4.95, is more expensive than Lightspeed's rate of $4.50 per trade. Looking at trading options, Lightspeed's base fee is $0 while Charles Schwab's is $4.95. Option contracts are pricier at Charles Schwab, costing $0.65 versus $0.60 at Lightspeed. 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 offers clients Stock Trading, Options Trading and Futures Trading while Charles Schwab offers Stock Trading, Options Trading, Mutual Funds and Futures Trading. When it comes to mutual funds, Charles Schwab offers its clients access to 5846 different mutual funds while Lightspeed has 0 available funds, a difference of 5,846.
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, Charles Schwab doesn't. For mobile trading, Both Charles Schwab 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. Clients can have Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans at Charles Schwab while customers at Lightspeed can have none of these.
Overall, between Charles Schwab and Lightspeed, Charles Schwab is the winner
Charles Schwab Review