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E*TRADE vs Lightspeed 2019

Blain Reinkensmeyer

The StockBrokers.com annual review (9 years running) takes six months to complete and produces over 30,000 words of research each year. Here's how we test.

Is Lightspeed better than E*TRADE? After scoring brokers in nine separate categories for our 2019 review, E*TRADE (83.68%) is better than Lightspeed (51.8%). While E*TRADE may not offer the cheapest trades, the Power E*TRADE platform is great for options trading, and the broker offers two great mobile apps.

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Overall Rating

Feature E*TRADE Lightspeed
Overall 4 2.5
E*TRADE Review Lightspeed Review

Trading Fees

Feature E*TRADE Lightspeed
Minimum Deposit $500.00 $10,000.00
Stock Trade Fee (per trade) $6.95 $4.50
ETF Trade Fee $6.95 $4.50
Options Base Fee $6.95 $0.00
Options Per Contract Fee $0.75 $0.60
Mutual Fund Trade Fee $19.99 N/A
Broker Assisted Trades Fee $25.00 $25.00
Commissions & Fees 3.5 3
Winner check_circle

Margin Rates

Feature E*TRADE Lightspeed
Under $24,999.99 10.50% 8.50%
$25,000.00 to $49,999.99 10.25% 8.50%
$50,000.00 to $99,999.99 9.75% 7.50%
$100,000.00 to $249,999.99 9.25% 7.50%
$250,000.00 to $499,999.99 8.75% 6.75%
$500,000.00 to $999,999.99 8.25% 6.25%
Above $1,000,000.00 7.25% 6.00%
Commissions & Fees 3.5 3
Winner check_circle

Account Fees

Feature E*TRADE Lightspeed
IRA Annual Fee 0 35
IRA Closure Fee 60 95
Returned ACH Fee 0 30
Returned Wire Fee 0 30
Stock Certificate Processing Fee 0 75
Stock Certificate Delivery Fee 75 50
Paper Statement Fee 2 5
Paper Confirmation Fee 0 2
Domestic Wire Fee 25 20
International Wire Fee 25 50
Commissions & Fees 3.5 3

Investment Options

Feature E*TRADE Lightspeed
Stock Trading
Yes Yes
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 6
Futures Trading
Yes Yes
Forex Trading
No No
Commission-Free ETFs 295 0
Mutual Funds (No Load)
6266 0
Mutual Funds (Total)
9062 0
Bonds (US Treasury)
Yes Yes
Bonds (Corporate)
Yes No
Bonds (Municipal)
Yes No
Advisor Services
Yes No
International Trading
No No
Offering of Investments 4.5 3
Winner check_circle

Order Types

Feature E*TRADE 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
No Yes
Order Type - OCO
Yes Yes
Order Type - OTO
Yes Yes
Order Type - OTOCO
Yes Yes
Offering of Investments 4.5 3
Winner check_circle

Trading Platforms

Feature E*TRADE 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
125 141
Two-Factor Authentication Login
Yes Yes
Heat Mapping
No No
Platforms & Tools 4.5 3
Winner check_circle

Charting Features

Feature E*TRADE Lightspeed
Charting - Trade Off Chart
Yes Yes
Charting - Indicators / Studies
118 20
Charting - Drawing Tools
33 8
Charting - Historical Trades
Yes Yes
Charting - Corporate Events
Yes No
Charting - Automated Analysis
No No
Charting - Save Profiles
Yes Yes
Charting - Study Customizations
6 4
Charting - Custom Studies
No No
Platforms & Tools 4.5 3
Winner check_circle

Day Trading

Feature E*TRADE Lightspeed
Stock Alerts - Basic Fields
Yes Yes
Stock Alerts - Advanced Fields
No No
Streaming Time & Sales
Yes Yes
Streaming TV
Yes No
Direct Market Routing - Stocks
Yes Yes
Direct Market Routing - Options
Yes Yes
Ladder Trading
Yes No
Trade Hot Keys
Yes Yes
Level 2 Quotes - Stocks
Yes Yes
Level 2 Quotes - Options
Yes Yes
Trade Ideas - Backtesting
Yes No
Short Locator
No Yes
Client Liquidity Rebates
No Yes
Winner check_circle

Mobile Trading Apps

Feature E*TRADE Lightspeed
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
Yes No
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes No
Trading - Conditional Orders
Yes No
Trading - Mutual Funds
Yes No
Trading - Simple Options
Yes No
Trading - Complex Options
Yes No
Trading - Option Rolling
No No
Touch / Face ID
Yes No
Winner check_circle

Mobile App Features

Feature E*TRADE Lightspeed
Watch List Syncing
Yes No
Stock Alerts - Basic Fields
Yes No
Stock Alerts - Advanced Fields
No No
Charting - After Hours
Yes No
Charting - Drawing
No No
Charting - Study Customizations
Yes No
Customizable Homescreen
Yes No
Heatmapping
Yes No
Stream Live TV
Yes No
Barcode Lookup
Yes No
Mobile Trading 5 1.5
Winner check_circle

Research Overview

Feature E*TRADE Lightspeed
Research - Stocks
Yes Yes
Research - ETFs
Yes No
Research - Mutual Funds
Yes No
Research - Pink Sheets / OTCBB
Yes No
Research - Fixed Income
Yes No
Research - Futures
Yes No
Research - Forex
No No
Screener - Stocks
Yes Yes
Screener - ETFs
Yes No
Screener - Mutual Funds
Yes No
Screener - Options
Yes No
Screener - Bonds
Yes No
Misc - Portfolio Builder
Yes No
Misc - Portfolio Allocation
Yes No
Research 4.5 1
Winner check_circle

Stock Research

Feature E*TRADE Lightspeed
Stock Research - Reports
4 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
Yes Yes
Stock Research - Balance Sheet
Yes No
Stock Research - Cash Flows
Yes No
Stock Research - News
Yes Yes
Stock Research - ESG
No No
Research 4.5 1
Winner check_circle

ETF Research

Feature E*TRADE Lightspeed
ETFs - Strategy Overview
Yes No
ETFs - Top 10 Holdings
Yes No
ETFs - Sector Exposure
Yes No
ETFs - Risk Analysis
Yes No
ETFs - Performance Analysis
Yes No
ETFs - Ratings
Yes No
ETFs - Morningstar StyleMap
Yes No
ETFs - Reports
Yes No
Research 4.5 1
Winner check_circle

Mutual Fund Research

Feature E*TRADE Lightspeed
Mutual Funds - Strategy Overview
Yes No
Mutual Funds - Prospectus
Yes No
Mutual Funds - Reports
Yes No
Mutual Funds - Fees Breakdown
Yes No
Mutual Funds - Top 10 Holdings
Yes No
Mutual Funds - Asset Allocation
Yes No
Mutual Funds - Sector Allocation
Yes No
Mutual Funds - Country Allocation
Yes No
Mutual Funds - StyleMap
Yes No
Mutual Funds - 3rd Party Ratings
Yes No
Research 4.5 1
Winner check_circle

Options Trading

Feature E*TRADE Lightspeed
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
30 60
Option Chains - Greeks
5 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 4.5 3
Winner check_circle

Beginners

Feature E*TRADE Lightspeed
Has Education - Stocks
Yes Yes
Has Education - ETFs
Yes No
Has Education - Options
Yes Yes
Has Education - Mutual Funds
Yes No
Has Education - Fixed Income
Yes No
Has Education - Retirement
Yes No
Paper Trading
Yes Yes
Videos
Yes Yes
Webinars (Monthly Avg)
12 1
Webinars (Archived)
Yes Yes
Live Seminars
Yes No
Progress Tracking
No No
Interactive Learning - Quizzes
Yes No
Investor Magazine
No No
Education 4.5 2.5
Winner check_circle

Banking

Feature E*TRADE Lightspeed
Retail Locations
30 0
Member FDIC
Yes No
Checking Accounts
Yes No
Savings Accounts
Yes No
Credit Cards
No No
Debit Cards
Yes No
Mortgage Loans
No No
No Fee Banking
No No
Banking 4 0.5
Winner check_circle

Overall

Feature E*TRADE Lightspeed
E*TRADE Review Lightspeed Review
Overall 4 2.5
Winner check_circle
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 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, with its regular stock trades costing $6.95, is more expensive than Lightspeed's rate of $4.50 per trade. With options, the base fees charged are $6.95 (E*TRADE) and $0 (Lightspeed). Lightspeed's per contract rate of $0.60 is less than E*TRADE which charges $0.75. 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 provides its clients with Stock Trading, Options Trading and Futures Trading while E*TRADE provides clients access to Stock Trading, Options Trading, Mutual Funds and Futures Trading. As far as mutual funds go, E*TRADE offers its clients access to 9062 different mutual funds while Lightspeed has 0 available funds, a difference of 9,062.

Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Lightspeed makes virtual trading available to clients, while E*TRADE does not. For mobile trading, E*TRADE along with Lightspeed both support the 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, Savings Accounts and Debit Cards are offered by E*TRADE while Lightspeed offers none of these.

Overall, between E*TRADE and Lightspeed, E*TRADE is the winner.

E*TRADE Review
Lightspeed Review


All pricing data was obtained from a published web site as of 02/18/2019 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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