Comparing brokers side by side is no easy task. For our 2017 Broker Review
, we factored in 308 different variables to assess 16 different brokers. So when taking a look at Fidelity Investments vs Lightspeed Trading, there is a huge database of information available to us.
To start this comparison, first we will take a look at the broker commission rates for placing regular stock and options trades. Fidelity Investments charges $4.95 per stock trade which is $0.45 more than Lightspeed Trading which charges clients $4.50 per trade. Looking at trading options, Lightspeed Trading's base fee is $0.00 while Fidelity Investments's is $4.95. At a difference of $0.05 per contract, Lightspeed Trading's per contract rate of $0.60 is less than Fidelity Investments which charges $0.65. Not all brokers charge a flat rate fee per trade though, so it is important to read the full commission notes to know the complete breakdown (go to any online broker review
page, then scroll to the "Commissions Notes" section).
Next to commission rates, being able to trade the instrument you want is important. Lightspeed Trading provides its clients with Stock Trading, Options Trading and Futures Trading while Fidelity Investments gives clients access to Stock Trading, Options Trading and Mutual Funds. Looking at mutual funds, Fidelity Investments offers its clients access to 13204 different mutual funds while Lightspeed Trading has 0 available funds, a difference of 13,204.00. Commission free ETFs also should not be forgotten, Fidelity Investments offers 91 versus Lightspeed Trading's total of 0.
Lastly, taking a look at popular features and functionality, we can go a bit deeper to really break down the difference of both brokers. Both Fidelity Investments and Lightspeed Trading have virtual trading. Taking a look at mobile trading, Fidelity Investments offers the iPhone App, iPad App and Android App while Lightspeed Trading offers the 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. Clients can have Checking Accounts, Savings Accounts, Debit Cards and Credit Cards at Fidelity Investments while clients at Lightspeed Trading can have none of these. On the whole, when it comes to tools, research, and trading on the go, Fidelity Investments finished with awards for Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading in 2014, while Lightspeed Trading came up with none of these.
Overall, Fidelity Investments takes the upper hand with 4.50 stars over Lightspeed Trading's 2.50 stars.