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Charles Schwab vs Lightspeed 2019
The StockBrokers.com annual review (9 years running) takes six months to complete and produces over 30,000 words of research each year. Here's how we test.
Is Charles Schwab better than Lightspeed? Based on over 4,000 data points from our 2019 annual broker review, Charles Schwab (84.06%) is better than Lightspeed (51.8%). For those seeking access to low costs, excellent research, quality trade tools, and professional planning for the future, Charles Schwab will not disappoint.
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Special Offer
$4.95 online equity trades + $0.65 per options contract Open Account
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| Open Account |
Overall Rating
| Feature | Charles Schwab | Lightspeed |
| Overall | ||
| Charles Schwab Review | Lightspeed Review |
Trading Fees
| Feature | Charles Schwab | Lightspeed |
| Minimum Deposit | $0.00 | $10,000.00 |
| Stock Trade Fee (per trade) | $4.95 | $4.50 |
| ETF Trade Fee | $4.95 | $4.50 |
| Options Base Fee | $4.95 | $0.00 |
| Options Per Contract Fee | $0.65 | $0.60 |
| Mutual Fund Trade Fee | $49.95 | N/A |
| Broker Assisted Trades Fee | $25.00 | $25.00 |
| Commissions & Fees | ||
| Winner | check_circle |
Margin Rates
| Feature | Charles Schwab | Lightspeed |
| Under $24,999.99 | 9.58% | 8.50% |
| $25,000.00 to $49,999.99 | 9.08% | 8.50% |
| $50,000.00 to $99,999.99 | 8.13% | 7.50% |
| $100,000.00 to $249,999.99 | 8.08% | 7.50% |
| $250,000.00 to $499,999.99 | 7.83% | 6.75% |
| $500,000.00 to $999,999.99 | 6.58% | 6.25% |
| Above $1,000,000.00 | 6.25% | 6.00% |
| Commissions & Fees | ||
| Winner | check_circle |
Account Fees
| Feature | Charles Schwab | Lightspeed |
| IRA Annual Fee | 0 | 35 |
| IRA Closure Fee | 50 | 95 |
| Returned ACH Fee | 25 | 30 |
| Returned Wire Fee | 25 | 30 |
| Stock Certificate Processing Fee | 100 | 75 |
| Stock Certificate Delivery Fee | N/A | 50 |
| Paper Statement Fee | 0 | 5 |
| Paper Confirmation Fee | 0 | 2 |
| Domestic Wire Fee | 25 | 20 |
| International Wire Fee | 25 | 50 |
| Commissions & Fees |
Investment Options
| Feature | Charles Schwab | Lightspeed |
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Stock Trading |
Yes | Yes |
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OTCBB / Pink Sheets |
Yes | Yes |
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Options Trading |
Yes | Yes |
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Complex Options Max Legs |
4 | 6 |
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Futures Trading |
Yes | Yes |
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Forex Trading |
No | No |
| Commission-Free ETFs | 503 | 0 |
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Mutual Funds (No Load) |
5846 | 0 |
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Mutual Funds (Total) |
5846 | 0 |
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Bonds (US Treasury) |
Yes | Yes |
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Bonds (Corporate) |
Yes | No |
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Bonds (Municipal) |
Yes | No |
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Advisor Services |
Yes | No |
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International Trading |
Yes | No |
| Offering of Investments | ||
| Winner | check_circle |
Order Types
| Feature | Charles Schwab | Lightspeed |
|
Order Type - Market |
Yes | Yes |
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Order Type - Limit |
Yes | Yes |
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Order Type - Stop |
Yes | Yes |
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Order Type - Trailing Stop |
Yes | Yes |
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Order Type - Contingent |
Yes | Yes |
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Order Type - MultiContingent |
Yes | Yes |
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Order Type - OCO |
Yes | Yes |
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Order Type - OTO |
Yes | Yes |
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Order Type - OTOCO |
Yes | Yes |
| Offering of Investments | ||
| Winner | check_circle |
Trading Platforms
| Feature | Charles Schwab | Lightspeed |
|
Desktop Platform (Windows) |
Yes | Yes |
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Desktop Platform (Mac) |
Yes | Yes |
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Web Platform |
Yes | Yes |
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Paper Trading |
No | Yes |
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Trade Journal |
Yes | No |
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Watch Lists - Total Fields |
108 | 141 |
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Two-Factor Authentication Login |
Yes | Yes |
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Heat Mapping |
Yes | No |
| Platforms & Tools | ||
| Winner | check_circle |
Charting Features
| Feature | Charles Schwab | Lightspeed |
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Charting - Trade Off Chart |
Yes | Yes |
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Charting - Indicators / Studies |
41 | 20 |
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Charting - Drawing Tools |
15 | 8 |
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Charting - Historical Trades |
No | Yes |
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Charting - Corporate Events |
Yes | No |
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Charting - Automated Analysis |
Yes | No |
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Charting - Save Profiles |
Yes | Yes |
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Charting - Study Customizations |
6 | 4 |
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Charting - Custom Studies |
No | No |
| Platforms & Tools | ||
| Winner | check_circle |
Day Trading
| Feature | Charles Schwab | Lightspeed |
|
Stock Alerts - Basic Fields |
Yes | Yes |
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Stock Alerts - Advanced Fields |
Yes | No |
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Streaming Time & Sales |
Yes | Yes |
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Streaming TV |
Yes | No |
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Direct Market Routing - Stocks |
Yes | Yes |
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Direct Market Routing - Options |
No | Yes |
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Ladder Trading |
No | No |
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Trade Hot Keys |
Yes | Yes |
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Level 2 Quotes - Stocks |
Yes | Yes |
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Level 2 Quotes - Options |
Yes | Yes |
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Trade Ideas - Backtesting |
Yes | No |
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Short Locator |
No | Yes |
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Client Liquidity Rebates |
No | Yes |
| Winner | check_circle |
Mobile Trading Apps
| Feature | Charles Schwab | Lightspeed |
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iPhone App |
Yes | Yes |
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Android App |
Yes | Yes |
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Apple Watch App |
Yes | No |
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Trading - Stocks |
Yes | Yes |
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Trading - After-Hours |
Yes | No |
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Trading - Conditional Orders |
No | No |
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Trading - Mutual Funds |
Yes | No |
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Trading - Simple Options |
Yes | No |
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Trading - Complex Options |
Yes | No |
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Trading - Option Rolling |
No | No |
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Touch / Face ID |
Yes | No |
| Winner | check_circle |
Mobile App Features
| Feature | Charles Schwab | Lightspeed |
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Watch List Syncing |
Yes | No |
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Stock Alerts - Basic Fields |
No | No |
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Stock Alerts - Advanced Fields |
No | No |
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Charting - After Hours |
No | No |
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Charting - Drawing |
No | No |
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Charting - Study Customizations |
Yes | No |
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Customizable Homescreen |
No | No |
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Heatmapping |
Yes | No |
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Stream Live TV |
Yes | No |
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Barcode Lookup |
No | No |
| Mobile Trading | ||
| Winner | check_circle |
Research Overview
| Feature | Charles Schwab | Lightspeed |
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Research - Stocks |
Yes | Yes |
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Research - ETFs |
Yes | No |
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Research - Mutual Funds |
Yes | No |
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Research - Pink Sheets / OTCBB |
Yes | No |
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Research - Fixed Income |
Yes | No |
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Research - Futures |
Yes | No |
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Research - Forex |
No | No |
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Screener - Stocks |
Yes | Yes |
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Screener - ETFs |
Yes | No |
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Screener - Mutual Funds |
Yes | No |
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Screener - Options |
Yes | No |
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Screener - Bonds |
Yes | No |
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Misc - Portfolio Builder |
Yes | No |
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Misc - Portfolio Allocation |
Yes | No |
| Research | ||
| Winner | check_circle |
Stock Research
| Feature | Charles Schwab | Lightspeed |
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Stock Research - Reports |
8 | 0 |
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Stock Research - Earnings |
Yes | No |
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Stock Research - Insiders |
Yes | Yes |
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Stock Research - Metric Comp |
Yes | No |
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Stock Research - SEC Filings |
Yes | No |
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Stock Research - Social |
Yes | Yes |
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Stock Research - Balance Sheet |
Yes | No |
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Stock Research - Cash Flows |
Yes | No |
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Stock Research - News |
Yes | Yes |
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Stock Research - ESG |
No | No |
| Research | ||
| Winner | check_circle |
ETF Research
| Feature | Charles Schwab | Lightspeed |
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ETFs - Strategy Overview |
Yes | No |
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ETFs - Top 10 Holdings |
Yes | No |
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ETFs - Sector Exposure |
Yes | No |
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ETFs - Risk Analysis |
Yes | No |
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ETFs - Performance Analysis |
Yes | No |
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ETFs - Ratings |
Yes | No |
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ETFs - Morningstar StyleMap |
Yes | No |
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ETFs - Reports |
Yes | No |
| Research | ||
| Winner | check_circle |
Mutual Fund Research
| Feature | Charles Schwab | Lightspeed |
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Mutual Funds - Strategy Overview |
Yes | No |
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Mutual Funds - Prospectus |
Yes | No |
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Mutual Funds - Reports |
Yes | No |
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Mutual Funds - Fees Breakdown |
Yes | No |
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Mutual Funds - Top 10 Holdings |
Yes | No |
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Mutual Funds - Asset Allocation |
Yes | No |
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Mutual Funds - Sector Allocation |
Yes | No |
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Mutual Funds - Country Allocation |
Yes | No |
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Mutual Funds - StyleMap |
Yes | No |
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Mutual Funds - 3rd Party Ratings |
Yes | No |
| Research | ||
| Winner | check_circle |
Options Trading
| Feature | Charles Schwab | Lightspeed |
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Option Chains - Streaming |
Yes | Yes |
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Option Chains - Total Columns |
41 | 60 |
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Option Chains - Greeks |
5 | 5 |
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Option Chains - Quick Analysis |
Yes | Yes |
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Option Analysis - P&L Charts |
Yes | Yes |
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Option Probability Analysis |
Yes | No |
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Option Probability Analysis Adv |
Yes | No |
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Option Positions - Greeks |
Yes | Yes |
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Option Positions - Adv Analysis |
Yes | No |
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Option Positions - Rolling |
Yes | Yes |
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Option Positions - Grouping |
Yes | Yes |
| Platforms & Tools | ||
| Winner | check_circle |
Beginners
| Feature | Charles Schwab | Lightspeed |
|
Has Education - Stocks |
Yes | Yes |
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Has Education - ETFs |
Yes | No |
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Has Education - Options |
Yes | Yes |
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Has Education - Mutual Funds |
Yes | No |
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Has Education - Fixed Income |
Yes | No |
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Has Education - Retirement |
Yes | No |
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Paper Trading |
No | Yes |
|
Videos |
Yes | Yes |
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Webinars (Monthly Avg) |
50 | 1 |
|
Webinars (Archived) |
Yes | Yes |
|
Live Seminars |
Yes | No |
|
Progress Tracking |
No | No |
|
Interactive Learning - Quizzes |
No | No |
|
Investor Magazine |
Yes | No |
| Education | ||
| Winner | check_circle |
Banking
| Feature | Charles Schwab | Lightspeed |
|
Retail Locations |
357 | 0 |
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Member FDIC |
Yes | No |
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Checking Accounts |
Yes | No |
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Savings Accounts |
Yes | No |
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Credit Cards |
Yes | No |
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Debit Cards |
Yes | No |
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Mortgage Loans |
Yes | No |
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No Fee Banking |
Yes | No |
| Banking | ||
| Winner | check_circle |
Overall
| Feature | Charles Schwab | Lightspeed |
| Charles Schwab Review | Lightspeed Review | |
| Overall | ||
| Winner | check_circle |
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
Lightspeed Review
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
Lightspeed Review
All pricing data was obtained from a published web site as of 02/18/2019 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.
