Comparing brokers side by side is no easy task. For our 2017 Broker Review, we assessed 16 brokers on 308 different variables to find the best online broker
. Yielding a database of over 5,000 data points, let's compare E*TRADE vs Lightspeed Trading.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular 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). Lightspeed Trading's per contract rate of $0.60 is less than E*TRADE which charges $0.75. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review
Next to commission rates, being able to trade what you want is important. Lightspeed Trading offers clients Stock Trading, Options Trading and Futures Trading while E*TRADE offers Stock Trading, Options Trading, Mutual Funds and Futures Trading. Looking at mutual funds, Lightspeed Trading trails E*TRADE by 8,652 total mutual funds, with E*TRADE offering 8652 and Lightspeed Trading offering 0. Commission free ETFs can also be valuable for customers, with Lightspeed Trading falling behind E*TRADE, offering 0 commission free ETFs compared to E*TRADE's 133.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Lightspeed Trading has virtual trading, E*TRADE doesn't. Taking a look at mobile trading, E*TRADE offer clients access to an iPhone App, iPad App and Android App while Lightspeed Trading has an none of these. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Checking Accounts and Debit Cards are offered by E*TRADE while Lightspeed Trading offers none of these. On the whole, when it comes to 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 takes the upper hand with 4.00 stars over Lightspeed Trading's 2.50 stars.