Using data from the StockBrokers.com 2017 Broker Rankings
, we can compare Charles Schwab vs Lightspeed Trading 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. Charles Schwab charges $4.95 per stock trade which is $0.45 more than Lightspeed Trading which charges customers $4.50 per trade. For options trading, Charles Schwab has a base fee of $4.95, and Lightspeed Trading a base fee of $0. Option contracts are pricier at Charles Schwab, costing $0.65 versus $0.60 at Lightspeed Trading. 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 Trading offers clients Stock Trading, Options Trading and Futures Trading while Charles Schwab offers Stock Trading, Options Trading, Mutual Funds and Futures Trading. As far as mutual funds go, Lightspeed Trading trails Charles Schwab by 5,165.00 total mutual funds, with Charles Schwab offering 5165 and Lightspeed Trading offering 0. And, commission free ETFs deserve a comparison, with Lightspeed Trading falling behind Charles Schwab, offering 0 commission free ETFs compared to Charles Schwab's 229.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Lightspeed Trading offers virtual trading while Charles Schwab does not. For mobile trading, Charles Schwab offers the iPhone App, iPad App and Android App while Lightspeed Trading offers the none of these. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Charles Schwab while Lightspeed Trading offers none of these. All factors considered, when it comes to platform tools, research, and mobile trading, Charles Schwab finished with awards Best in Class - Platforms & Tools and Best in Class - Research in 2017, while Lightspeed Trading came up with none of these.
Overall, Charles Schwab comes out on top with 4.50 stars over Lightspeed Trading's 2.50 stars.