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 ChoiceTrade vs Lightspeed Trading. Is ChoiceTrade 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. ChoiceTrade, with its regular stock trades costing $5.00, is more expensive than Lightspeed Trading's rate of $4.50 per trade. With options, the base fees charged are $5 (ChoiceTrade) and $0 (Lightspeed Trading). Option contracts are pricier at Lightspeed Trading, costing $0.60 versus $0.50 at ChoiceTrade. 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 supports Stock Trading, Options Trading and Futures Trading while ChoiceTrade supports Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, ChoiceTrade boasts an offering of 500 mutual funds compared to Lightspeed Trading's 0 available funds. Commission free ETFs can also be a nice plus, which for investors means access to 0 commission free ETFs at both brokers.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. ChoiceTrade alongside Lightspeed Trading offer virtual trading. For mobile trading, Lightspeed Trading offers the iPhone App, iPad App and Android App while ChoiceTrade offers the none of these. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Unfortunately, Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are not available at ChoiceTrade or Lightspeed Trading . On the whole, when it comes to tools, research, and mobile trading, neither ChoiceTrade nor Lightspeed Trading were rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Lightspeed Trading boasts 2.50 stars versus ChoiceTrade's 2.00 stars.