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 $6.95 per stock trade which is $2.45 more than Lightspeed Trading which charges customers $4.50 per trade. For options trading, E*TRADE has a base fee of $6.95, and Lightspeed Trading a base fee of $0. Each option contract then costs $0.75 at E*TRADE and $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, 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 225 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 has virtual trading, E*TRADE doesn't. For mobile trading, E*TRADE and Lightspeed Trading both have a 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 was rated Best in Class - Research, while Lightspeed Trading was rated none of these.
Overall, E*TRADE comes out on top with 4.50 stars over Lightspeed Trading's 3.00 stars.