The StockBrokers.com 2017 Brokerage Review
compares Charles Schwab vs Lightspeed Trading. Compare Charles Schwab and Lightspeed Trading trade commissions, fees and overall broker ratings by using the table below. Is Charles Schwab or Lightspeed Trading a better online broker?
Looking at both brokers, first we will take a look at the commission rates for both placing regular stock and options trades. Charles Schwab charges $4.95 per stock trade which is $0.45 more than Lightspeed Trading which charges clients $4.50 per trade. Looking at trading options, Lightspeed Trading's base fee is $0.00 while Charles Schwab's is $4.95. Contracts are pricier at Charles Schwab, costing $0.65 versus $0.60 at Lightspeed Trading, a difference of $0.05 per contract. It should be noted that not every broker uses a flat rate stock trade fee structure, so it is important to read the full commission notes (head over to any online brokerage review
page, then navigate to the "Commission Notes" section).
Alongside trade commissions, being able to trade the way you want is a must. Lightspeed Trading provides its clients with Stock Trading, Options Trading and Futures Trading while Charles Schwab gives clients access to Stock Trading, Options Trading, Mutual Funds and Futures Trading. When it comes to mutual funds, Charles Schwab boasts an offering of 5165 compared to Lightspeed Trading's 0 available funds. Commission free ETFs can also be a nice plus, with Lightspeed Trading falling behind Charles Schwab, offering 0 commission free etfs compared to Charles Schwab's 229.
Last but not least, by breaking down important features that each broker offers, we can really help to separate the two brokers. Lightspeed Trading offers virtual trading while Charles Schwab does not. For mobile trading, Charles Schwab gives clients access to an iPhone App, iPad App and Android App while Lightspeed Trading has an none of these. 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 Charles Schwab while Lightspeed Trading offers none of these. On the whole, when it comes to tools, research, and trading on the go, Charles Schwab was rated for Best in Class - Platforms & Tools and Best in Class - Research in 2014, while Lightspeed Trading was rated for none of these.
Overall, Charles Schwab takes the upper hand with 4.50 stars over Lightspeed Trading's 2.50 stars.