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Lightspeed vs Cobra Trading 2020

Is Cobra Trading better than Lightspeed? After testing 15 of the best online brokers over five months, Lightspeed (61.3%) is better than Cobra Trading (56.88%). Lightspeed is a direct-access online brokerage that focuses on serving active and professional traders through its in-house and third-party trading platforms. Casual traders beware, not trading enough means paying high monthly platform fees.

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Overall Rating

Feature Lightspeed Cobra Trading
Overall 3 3
Lightspeed Review Cobra Trading Review

Trading Fees

Feature Lightspeed Cobra Trading
Minimum Deposit $10,000.00 $30,000.00
Stock Trade Fee (per trade) $4.50 N/A
ETF Trade Fee $4.50 N/A
Options Base Fee $0.00 N/A
Options Per Contract Fee $0.60 $0.50
Mutual Fund Trade Fee N/A $25.00
Broker Assisted Trades Fee $25.00 $0.00
Commissions & Fees 2.5 3
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Margin Rates

Feature Lightspeed Cobra Trading
Under $24,999.99 7.50% 5.25%
$25,000.00 to $49,999.99 7.50% 5.25%
$50,000.00 to $99,999.99 6.50% 5.25%
$100,000.00 to $249,999.99 6.50% 5.25%
$250,000.00 to $499,999.99 5.75% 5.25%
$500,000.00 to $999,999.99 5.25% 5.25%
Above $1,000,000.00 5.00% 5.25%
Commissions & Fees 2.5 3
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Account Fees

Feature Lightspeed Cobra Trading
IRA Annual Fee $35.00 $35.00
IRA Closure Fee $95.00 $95.00
Returned ACH Fee $30.00 $25.00
Returned Wire Fee $30.00 $25.00
Stock Certificate Processing Fee $75.00 N/A
Stock Certificate Delivery Fee $50.00 N/A
Paper Statement Fee $5.00 $2.00
Paper Confirmation Fee $2.00 $3.00
Domestic Wire Fee $20.00 $20.00
International Wire Fee $50.00 $50.00
Commissions & Fees 2.5 3

Investment Options

Feature Lightspeed Cobra Trading
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
Yes Yes
Forex Trading
No Yes
Commission-Free ETFs 0 0
Mutual Funds (No Load)
0 0
Mutual Funds (Total)
0 0
Bonds (US Treasury)
Yes No
Bonds (Corporate)
No No
Bonds (Municipal)
No No
Interest Sharing
No No
Advisor Services
No No
International Trading
No No
Offering of Investments 3 3
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Order Types

Feature Lightspeed Cobra Trading
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 No
Order Type - MultiContingent
Yes No
Order Type - OCO
Yes Yes
Order Type - OTO
Yes No
Order Type - OTOCO
Yes No
Offering of Investments 3 3
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Trading Platforms

Feature Lightspeed Cobra Trading
Desktop Platform (Windows)
Yes Yes
Desktop Platform (Mac)
Yes No
Web Platform
Yes No
Paper Trading
Yes Yes
Trade Journal
No No
Watch Lists - Total Fields
141 30
Heat Mapping
No No
AI Assistant Bot
No No
Platforms & Tools 3 3
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Charting Features

Feature Lightspeed Cobra Trading
Charting - Trade Off Chart
Yes Yes
Charting - Indicators / Studies
20 36
Charting - Drawing Tools
8 10
Charting - Historical Trades
Yes No
Charting - Corporate Events
No No
Charting - Automated Analysis
No No
Charting - Save Profiles
Yes Yes
Charting - Study Customizations
4 8
Charting - Custom Studies
No No
Platforms & Tools 3 3
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Day Trading

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

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

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

Feature Lightspeed Cobra Trading
Research - Stocks
Yes Yes
Research - ETFs
Yes No
Research - Mutual Funds
No No
Research - Pink Sheets / OTCBB
No No
Research - Fixed Income
No No
Screener - Stocks
Yes No
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 1.5
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Stock Research

Feature Lightspeed Cobra Trading
Stock Research - Reports
0 1
Stock Research - Earnings
No No
Stock Research - Insiders
Yes No
Stock Research - Metric Comp
No No
Stock Research - SEC Filings
No No
Stock Research - Social
Yes No
Stock Research - Balance Sheet
No No
Stock Research - Cash Flows
No No
Stock Research - News
Yes Yes
Stock Research - ESG
No No
Research 2 1.5
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ETF Research

Feature Lightspeed Cobra Trading
ETFs - Strategy Overview
No 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 1.5
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Mutual Fund Research

Feature Lightspeed Cobra Trading
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 1.5
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Options Trading

Feature Lightspeed Cobra Trading
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
60 17
Option Chains - Greeks
5 0
Option Chains - Quick Analysis
Yes No
Option Analysis - P&L Charts
Yes No
Option Probability Analysis
No No
Option Probability Analysis Adv
No No
Option Positions - Greeks
Yes No
Option Positions - Adv Analysis
No No
Option Positions - Rolling
Yes No
Option Positions - Grouping
Yes No
Platforms & Tools 3 3
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Beginners

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

Feature Lightspeed Cobra Trading
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 Lightspeed Cobra Trading
Lightspeed Review Cobra Trading 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 Cobra Trading vs Lightspeed.

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

What about Cobra Trading vs Lightspeed pricing?
Lightspeed, with its regular stock trades costing $4.50, is more expensive than Cobra Trading's rate of $0 (the broker charges a per share rate instead) per trade. For options trading, both Cobra Trading and Lightspeed charge the same base fee of $N/A. Cobra Trading's per contract rate of $0.50 is less than Lightspeed which charges $0.60. For a complete commissions summary, see our best discount brokers guide.

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

Which trading platform is better: Cobra Trading or Lightspeed?
To compare the trading platforms of both Cobra Trading and Lightspeed, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Lightspeed offers a better experience. With research, Lightspeed offers superior market research. Finally, we found Lightspeed 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 Cobra Trading and Lightspeed as Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are all unavailable.

Overall, between Cobra Trading and Lightspeed, Lightspeed is the better online broker.

Cobra Trading 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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