Using data from the StockBrokers.com 2017 Broker Rankings
, 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 $6.95 per stock trade which is $2.45 more than Lightspeed Trading which charges customers $4.50 per trade. With options, the base fees charged are $6.95 (E*TRADE) and $0 (Lightspeed Trading). 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 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 boasts an offering of 8652 mutual funds compared to Lightspeed Trading's 0 available funds. And, commission free ETFs deserve a comparison, with Lightspeed Trading falling behind E*TRADE, offering 0 commission free ETFs compared to E*TRADE's 133.
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, E*TRADE supports the iPhone App, iPad App and Android App while Lightspeed Trading supports the none of these. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Clients can have Checking Accounts and Debit Cards at E*TRADE while customers at Lightspeed Trading can have none of these. All factors considered, when it comes to platform tools, research, and mobile trading, E*TRADE was rated Best in Class - Research and Best in Class - Mobile Trading in 2017, while Lightspeed Trading was rated none of these.
Overall, E*TRADE comes out on top with 4.00 stars over Lightspeed Trading's 2.50 stars.