Using data from the StockBrokers.com 2017 Broker Rankings
, we can compare E*TRADE vs Lightspeed Trading to determine which broker is better for you. Our database includes thousands of data points on everything from research to trading tools. Let's take a closer look at E*TRADE and Lightspeed Trading.
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 $0.00 (Lightspeed Trading). At a difference of $0.15 per contract, Lightspeed Trading's per contract rate of $0.60 is less than E*TRADE which charges $0.75. Note that flat rate trading is not available everywhere though, so it is important to read the complete commission notes for each broker to know the full breakdown (go to any stock broker review
page, then scroll down to the "Commission Notes" section).
Trading fees aside, having access to trade what you want is also an important consideration. Lightspeed Trading provides its clients with Stock Trading, Options Trading and Futures Trading while E*TRADE gives 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 compared to Lightspeed Trading's 0 available funds. And, commission free ETFs deserve a mention, with Lightspeed Trading falling behind E*TRADE, offering 0 commission free etfs compared to E*TRADE's 133.
Finally, by looking at the most popular features and offerings of each broker, we can really see the differences between the two. Lightspeed Trading offers virtual trading while E*TRADE does not. For mobile trading, E*TRADE gives clients access to an iPhone App, iPad App and Android App while Lightspeed Trading has an none of these. Online banking is also used by many clients, and multiple brokerages provide these services. Clients can have Checking Accounts and Debit Cards at E*TRADE while clients at Lightspeed Trading can have none of these. All things considered, when it comes to platform tools, research, and trading via smartphone, E*TRADE finished with awards for Best in Class - Research and Best in Class - Mobile Trading in 2014, while Lightspeed Trading came up with none of these.
Overall, E*TRADE comes out on top with 4.00 stars over Lightspeed Trading's 2.50 stars.