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). With options, the base fees charged are $6.95 (E*TRADE) and $0 (Lightspeed Trading). Lightspeed Trading'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 Trading offers clients Stock Trading, Options Trading and Futures Trading while E*TRADE offers Stock Trading, Options Trading, Mutual Funds and Futures Trading. As far as mutual funds go, Lightspeed Trading trails E*TRADE by 8,998 total mutual funds, with E*TRADE offering 8998 and Lightspeed Trading offering 0. And, commission free ETFs deserve a comparison, E*TRADE offers 156 commission free ETFs versus Lightspeed Trading's total 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, E*TRADE along with Lightspeed Trading 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. 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 finished with awards Best in Class - Research and Best in Class - Mobile Trading, while Lightspeed Trading came up with none of these.
Overall, E*TRADE boasts 4.00 stars versus Lightspeed Trading's 2.50 stars.