Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker. Yielding a database of over 4,000 data points, let's compare ChoiceTrade vs Lightspeed.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. Lightspeed charges $4.50 per stock trade which is $4.50 more than ChoiceTrade which charges customers $0 per trade. Looking at options, the base fees charged are the same for both brokers, $0. Each option contract then costs $0.60 at Lightspeed and $0.40 at ChoiceTrade. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review.
Next to commission rates, being able to trade what you want is important. ChoiceTrade offers clients Stock Trading and Options Trading while Lightspeed offers Stock Trading, Options Trading and Futures Trading. Looking at mutual funds, both ChoiceTrade and Lightspeed provide clients with access to 0 total mutual funds.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Both ChoiceTrade and Lightspeed offer virtual trading. Taking a look at mobile trading, ChoiceTrade offer clients access to an iPhone App and Android App while Lightspeed has an iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Neither ChoiceTrade nor Lightspeed offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.
Overall, between ChoiceTrade and Lightspeed, Lightspeed is the winner.