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 Trading. Is Charles Schwab 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. 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. Lightspeed Trading's per contract rate of $0.60 is less than Charles Schwab 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 Charles Schwab offers Stock Trading, Options Trading, Mutual Funds and Futures Trading. When it comes to mutual funds, Lightspeed Trading trails Charles Schwab by 5,509 total mutual funds, with Charles Schwab offering 5509 and Lightspeed Trading offering 0. Commission free ETFs can also be a nice plus, Charles Schwab offers 244 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 offers virtual trading while Charles Schwab does not. For mobile trading, Both Charles Schwab and Lightspeed Trading 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. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are available to clients of Charles Schwab while Lightspeed Trading offers customers none of these. On the whole, when it comes to tools, research, and mobile trading, Charles Schwab finished with awards Best in Class - Platforms & Tools and Best in Class - Research, while Lightspeed Trading came up with none of these.
Overall, Charles Schwab takes the upper hand with 4.50 stars over Lightspeed Trading's 2.50 stars.