The StockBrokers.com 2017 Brokerage Review assessed 16 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 charges $5.00 per stock trade which is $0.50 more than Lightspeed Trading which charges customers $4.50 per trade. For options trading, ChoiceTrade has a base fee of $5, and Lightspeed Trading a base fee of $0. ChoiceTrade's per contract rate of $0.50 is less than Lightspeed Trading which charges $0.60. 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 provides its clients with Stock Trading, Options Trading and Futures Trading while ChoiceTrade provides clients access to 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 is a wash in this comparison as both ChoiceTrade and Lightspeed Trading offer 0 commission free ETFs.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Both ChoiceTrade and Lightspeed Trading offer virtual trading. For mobile trading, ChoiceTrade and Lightspeed Trading both do not offer the iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Banking is not popular with ChoiceTrade and Lightspeed Trading as Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are all unavailable. On the whole, when it comes to tools, research, and mobile trading, both ChoiceTrade and Lightspeed Trading found themselves without awards for Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading in 2017.
Overall, Lightspeed Trading boasts 2.50 stars versus ChoiceTrade's 2.00 stars.