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ChoiceTrade vs Lightspeed 2020

Is ChoiceTrade better than Lightspeed? After testing 15 of the best online brokers over five months, ChoiceTrade (62.57%) is better than Lightspeed (61.3%). While ChoiceTrade advertises free stock trades, unfortunately, monthly costs add up, and, overall, ChoiceTrade provides customers an online investing experience not worth the hassle.

Overall Rating

Feature ChoiceTrade Lightspeed
Overall 3 3
ChoiceTrade Review Lightspeed Review

Trading Fees

Feature ChoiceTrade Lightspeed
Minimum Deposit $0.00 $10,000.00
Stock Trade Fee (per trade) $0.00 $4.50
ETF Trade Fee $0.00 $4.50
Options Base Fee $0.00 $0.00
Options Per Contract Fee $0.40 $0.60
Mutual Fund Trade Fee N/A N/A
Broker Assisted Trades Fee $30.00 $25.00
Commissions & Fees 4.5 2.5
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Margin Rates

Feature ChoiceTrade Lightspeed
Under $24,999.99 7.75% 7.50%
$25,000.00 to $49,999.99 7.75% 7.50%
$50,000.00 to $99,999.99 7.75% 6.50%
$100,000.00 to $249,999.99 7.75% 6.50%
$250,000.00 to $499,999.99 7.75% 5.75%
$500,000.00 to $999,999.99 8.25% 5.25%
Above $1,000,000.00 8.25% 5.00%
Commissions & Fees 4.5 2.5
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Account Fees

Feature ChoiceTrade Lightspeed
IRA Annual Fee $50.00 $35.00
IRA Closure Fee $50.00 $95.00
Returned ACH Fee $40.00 $30.00
Returned Wire Fee $40.00 $30.00
Stock Certificate Processing Fee N/A $75.00
Stock Certificate Delivery Fee N/A $50.00
Paper Statement Fee $5.00 $5.00
Paper Confirmation Fee $1.00 $2.00
Domestic Wire Fee $35.00 $20.00
International Wire Fee $60.00 $50.00
Commissions & Fees 4.5 2.5

Investment Options

Feature ChoiceTrade Lightspeed
Stock Trading
Yes Yes
Fractional Shares
No No
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 4
Futures Trading
No Yes
Forex Trading
No No
Commission-Free ETFs All 0
Mutual Funds (No Load)
0 0
Mutual Funds (Total)
0 0
Bonds (US Treasury)
No Yes
Bonds (Corporate)
No No
Bonds (Municipal)
No No
Interest Sharing
No No
Advisor Services
No No
International Trading
No No
Offering of Investments 2.5 3
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Order Types

Feature ChoiceTrade Lightspeed
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
Order Type - Contingent
Yes Yes
Order Type - MultiContingent
Yes Yes
Order Type - OCO
No Yes
Order Type - OTO
No Yes
Order Type - OTOCO
No Yes
Offering of Investments 2.5 3
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Trading Platforms

Feature ChoiceTrade Lightspeed
Desktop Platform (Windows)
Yes Yes
Desktop Platform (Mac)
Yes Yes
Web Platform
Yes Yes
Paper Trading
Yes Yes
Trade Journal
No No
Watch Lists - Total Fields
19 141
Heat Mapping
Yes No
AI Assistant Bot
No No
Platforms & Tools 3 3
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Charting Features

Feature ChoiceTrade Lightspeed
Charting - Trade Off Chart
No Yes
Charting - Indicators / Studies
42 20
Charting - Drawing Tools
4 8
Charting - Historical Trades
Yes Yes
Charting - Corporate Events
Yes No
Charting - Automated Analysis
Yes No
Charting - Save Profiles
Yes Yes
Charting - Study Customizations
2 4
Charting - Custom Studies
No No
Platforms & Tools 3 3
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Day Trading

Feature ChoiceTrade Lightspeed
Stock Alerts - Basic Fields
No Yes
Stock Alerts - Advanced Fields
No No
Streaming Time & Sales
Yes Yes
Streaming TV
No No
Direct Market Routing - Stocks
No Yes
Direct Market Routing - Options
No Yes
Ladder Trading
No No
Trade Hot Keys
No Yes
Level 2 Quotes - Stocks
Yes Yes
Level 2 Quotes - Options
No Yes
Trade Ideas - Backtesting
Yes No
Short Locator
No Yes
Order Liquidity Rebates
No Yes
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Mobile Trading Apps

Feature ChoiceTrade Lightspeed
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
No No
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes No
Trading - Conditional Orders
No No
Trading - Mutual Funds
No No
Trading - Simple Options
Yes Yes
Trading - Complex Options
Yes Yes
Trading - Option Rolling
No No
Touch / Face ID
Yes No
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Mobile App Features

Feature ChoiceTrade Lightspeed
Watch List Syncing
Yes No
Stock Alerts
No Yes
Charting - After Hours
Yes No
Charting - Drawing
No No
Charting - Study Customizations
Yes No
Heatmapping
Yes No
Stream Live TV
No No
Barcode Lookup
No No
Mobile Trading 3.5 3
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Research Overview

Feature ChoiceTrade Lightspeed
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
No No
Research - Pink Sheets / OTCBB
Yes No
Research - Fixed Income
Yes No
Screener - Stocks
No Yes
Screener - ETFs
No No
Screener - Mutual Funds
No No
Screener - Options
No No
Screener - Bonds
No No
Misc - Portfolio Builder
No No
Misc - Portfolio Allocation
No No
Research 2 2
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Stock Research

Feature ChoiceTrade Lightspeed
Stock Research - Reports
0 0
Stock Research - Earnings
Yes No
Stock Research - Insiders
Yes Yes
Stock Research - Metric Comp
No No
Stock Research - SEC Filings
Yes No
Stock Research - Social
No Yes
Stock Research - Balance Sheet
Yes No
Stock Research - Cash Flows
Yes No
Stock Research - News
Yes Yes
Stock Research - ESG
No No
Research 2 2
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ETF Research

Feature ChoiceTrade Lightspeed
ETFs - Strategy Overview
Yes No
ETFs - Top 10 Holdings
No No
ETFs - Sector Exposure
No No
ETFs - Risk Analysis
No No
ETFs - Performance Analysis
No No
ETFs - Ratings
No No
ETFs - Morningstar StyleMap
No No
ETFs - Reports
No No
Research 2 2
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Mutual Fund Research

Feature ChoiceTrade Lightspeed
Mutual Funds - Strategy Overview
No No
Mutual Funds - Prospectus
No No
Mutual Funds - Reports
No No
Mutual Funds - Fees Breakdown
No No
Mutual Funds - Top 10 Holdings
No No
Mutual Funds - Asset Allocation
No No
Mutual Funds - Sector Allocation
No No
Mutual Funds - Country Allocation
No No
Mutual Funds - StyleMap
No No
Mutual Funds - 3rd Party Ratings
No No
Research 2 2
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Options Trading

Feature ChoiceTrade Lightspeed
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
18 60
Option Chains - Greeks
4 5
Option Chains - Quick Analysis
Yes Yes
Option Analysis - P&L Charts
Yes Yes
Option Probability Analysis
Yes No
Option Probability Analysis Adv
Yes No
Option Positions - Greeks
Yes Yes
Option Positions - Adv Analysis
Yes No
Option Positions - Rolling
Yes Yes
Option Positions - Grouping
Yes Yes
Platforms & Tools 3 3
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Beginners

Feature ChoiceTrade Lightspeed
Education (Stocks)
No Yes
Education (ETFs)
No No
Education (Options)
Yes Yes
Education (Mutual Funds)
No No
Education (Fixed Income)
No No
Education (Retirement)
No No
Paper Trading
Yes Yes
Videos
No Yes
Webinars (Monthly Avg)
0 1
Webinars (Archived)
No Yes
Live Seminars
No No
Progress Tracking
No No
Interactive Learning - Quizzes
No No
Investor Magazine
No No
Education 1.5 3
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Banking

Feature ChoiceTrade Lightspeed
Retail Locations
0 0
Member FDIC
No No
Checking Accounts
No No
Savings Accounts
No No
Credit Cards
No No
Debit Cards
No No
Mortgage Loans
No No
No Fee Banking
No No
Banking 0.5 0.5

Overall

Feature ChoiceTrade Lightspeed
ChoiceTrade Review Lightspeed Review
Overall 3 3
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Comparing brokers side by side is no easy task. For our 2020 annual broker review, we spent hundreds of hours assessing 15 brokerages to find the best online broker. Let's compare ChoiceTrade vs Lightspeed.

Is ChoiceTrade or Lightspeed better for beginners?
Lightspeed is better for beginner investors than ChoiceTrade. Lightspeed offers investors access to Paper Trading, Videos, Education (Stocks) and Education (Options).

What about ChoiceTrade vs Lightspeed pricing?
Lightspeed, with its regular stock trades costing $4.50, is more expensive than ChoiceTrade's rate of $0 per trade. With options, the base fee is $0 for both ChoiceTrade and Lightspeed. Each option contract then costs $0.60 at Lightspeed and $0.40 at ChoiceTrade. For a complete commissions summary, see our best discount brokers guide.

Does ChoiceTrade or Lightspeed offer a wider range of investment options?
Lightspeed offers a more diverse selection of investment options than ChoiceTrade. Lightspeed offers investors access to Stock Trading, OTCBB / Pink Sheets, Options Trading and Futures Trading. Looking at Mutual Funds, both ChoiceTrade and Lightspeed provide clients with access to 0 total mutual funds.

Which trading platform is better: ChoiceTrade or Lightspeed?
To compare the trading platforms of both ChoiceTrade and Lightspeed, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Lightspeed offers a better experience. With research, ChoiceTrade offers superior market research. Finally, we found ChoiceTrade to provide better mobile trading apps.

Does either broker offer banking?
Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Banking is not popular with ChoiceTrade and Lightspeed as Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are all unavailable.

Overall, between ChoiceTrade and Lightspeed, ChoiceTrade is the better online broker.

ChoiceTrade Review
Lightspeed Review

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All pricing data was obtained from a published web site as of 01/20/2020 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.

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