Using data from our latest annual broker review which tested more than a dozen different online brokers over six months, we can compare Fidelity vs Lightspeed 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. Lightspeed charges $4.50 per stock trade which is $4.50 more than Fidelity which charges customers $0 per trade. Looking at options, the base fees charged are the same for both brokers, $0. Each option contract then costs $0.65 at Fidelity and $0.60 at Lightspeed. 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 supports Stock Trading, Options Trading and Futures Trading while Fidelity supports Stock Trading, Options Trading and Mutual Funds. As far as mutual funds go, Fidelity offers its clients access to 11246 different mutual funds while Lightspeed has 0 available funds, a difference of 11,246.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Lightspeed has virtual trading, Fidelity doesn't. For mobile trading, Fidelity along with Lightspeed 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. Checking Accounts, Savings Accounts, Debit Cards and Credit Cards are offered by Fidelity while Lightspeed offers none of these.
Overall, between Fidelity and Lightspeed, Fidelity is the winner.