The StockBrokers.com 2017 Brokerage Review
compares Firstrade vs Lightspeed Trading. Compare Firstrade and Lightspeed Trading trade commissions, fees and overall broker ratings by using the table below. Is Firstrade or Lightspeed Trading a better online broker?
Looking at both brokers, first we will take a look at the commission rates for both placing regular stock and options trades. Firstrade, with its regular stock trades costing $4.95, is more expensive than Lightspeed Trading's rate of $4.50 per trade. With options, the base fees charged are $4.95 (Firstrade) and $0.00 (Lightspeed Trading). Contracts are pricier at Firstrade, costing $0.65 versus $0.60 at Lightspeed Trading, a difference of $0.05 per contract. It should be noted that not every broker uses a flat rate stock trade fee structure, so it is important to read the full commission notes (head over to any online brokerage review
page, then navigate to the "Commission Notes" section).
Alongside trade commissions, being able to trade the way you want is a must. Lightspeed Trading offers clients Stock Trading, Options Trading and Futures Trading while Firstrade offers Stock Trading, Options Trading and Mutual Funds. When it comes to mutual funds, Firstrade offers its clients access to 12191 different mutual funds while Lightspeed Trading has 0 available funds, a difference of 12,191.00. Commission free ETFs can also be a nice plus, Firstrade offers 12 versus Lightspeed Trading's total of 0.
Last but not least, by breaking down important features that each broker offers, we can really help to separate the two brokers. Lightspeed Trading offers virtual trading while Firstrade does not. For mobile trading, Firstrade gives clients access to an iPhone App and Android App while Lightspeed Trading has an none of these. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Checking Accounts and Debit Cards are offered by Firstrade while Lightspeed Trading offers none of these. On the whole, when it comes to tools, research, and trading on the go, Neither Firstrade nor Lightspeed Trading were rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Firstrade boasts 3.50 stars versus Lightspeed Trading's 2.50 stars.