Using data from our latest annual broker review which tested more than a dozen different online brokers
over six months, we can compare E*TRADE vs Lightspeed Trading to determine which broker is best. Let's dive in.
First, we will break down the commission charges of both brokers for placing stock and options trades. E*TRADE charges more than Lightspeed Trading for placing regular stock trades ($6.95 and $4.50, respectively). For options trading, E*TRADE has a base fee of $6.95, and Lightspeed Trading a base fee of $0. Option contracts are pricier at E*TRADE, costing $0.75 versus $0.60 at Lightspeed Trading. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews
Next, investors want to make sure they can trade the investment vehicle they want. Lightspeed Trading supports Stock Trading, Options Trading and Futures Trading while E*TRADE supports Stock Trading, Options Trading, Mutual Funds and Futures Trading. As far as mutual funds go, E*TRADE boasts an offering of 8998 mutual funds compared to Lightspeed Trading's 0 available funds. And, commission free ETFs deserve a comparison, with E*TRADE having the upper hand thanks to its 270 available commission free ETFs compared to Lightspeed Trading's offering of 0.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Lightspeed Trading makes virtual trading available to clients, while E*TRADE does not. For mobile trading, Both E*TRADE and Lightspeed Trading offer clients access to an iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Checking Accounts and Debit Cards are offered by E*TRADE while Lightspeed Trading offers none of these. All factors considered, when it comes to platform tools, research, and mobile trading, E*TRADE posted awards Best in Class - Research and Best in Class - Mobile Trading in 2018, while Lightspeed Trading found itself with none of these.
Overall, E*TRADE takes the upper hand with 4.50 stars over Lightspeed Trading's 3.00 stars.