menu

Firstrade vs Lightspeed Trading Review

Brandon Reinkensmeyer

Published by Brandon Reinkensmeyer


Tuesday, May 23rd, 2017

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.
There are no results to display, please adjust your filters or reset the Compare Tool.
Overall
Commissions & Fees
Offering of Investments
Platforms & Tools
Research
Customer Service
Mobile Trading
Ease of Use
Education
Order Execution
Banking
Stock Trade Fee (flat)
Options Base Fee
Options Per Contract Fee
Mutual Fund Trade Fee
Broker Assisted Trades Fee
Minimum Deposit
No Inactivity Fees
No Fee IRAs
Stock Trading
Options Trading
Mutual Funds
Forex Trading
Futures Trading
Desktop Platform (Windows)
Web Platform
Virtual Trading
Charting - Drawing Tools
Charting - Indicators / Studies
Option Chains - Total Columns
Watch Lists - Total Fields
iPhone App
iPad App
Android App
Android Tablet App
Apple Watch App
Trading - After-Hours
Trading - Mutual Funds
Trading - Conditional Orders
Trading - Simple Options
Trading - Complex Options
Commission Free ETFs
Mutual Funds (No Load)
Mutual Funds (Total)
# of Easy to Borrow Stocks
Retail Locations
Under $24,999.99
$25,000.00 to $49,999.99
$50,000.00 to $99,999.99
$100,000.00 to $249,999.99
$250,000.00 to $499,999.99
Above $1,000,000.00
$500,000.00 to $999,999.99
Checking Accounts
Savings Accounts
Credit Cards
Debit Cards
Mortgage Loans
No Fee Banking
Firstrade
Special Offer Get up to $1000 in free commissions Learn More
Firstrade Review
 
3.5
3.5
3.5
2
4
4
3.5
4.5
3
1.5
2
 
$4.95
$4.95
$0.65
$9.95
$19.95
$0.00
Yes
Yes
 
Yes
Yes
Yes
No
No
 
No
Yes
No
5
58
8
57
 
Yes
No
Yes
No
No
 
Yes
No
No
Yes
No
 
12
4928
12191
4200
2
 
7.75%
7.50%
7.00%
6.50%
6.00%
4.50%
5.00%
 
Yes
No
No
Yes
No
No
Lightspeed Trading
Special Offer Get $10,000 cash back on trades with a new account! Learn More
Lightspeed Trading Review
 
2.5
4
3
3
0.5
3.5
0.5
2.5
1.5
4
0.5
 
$4.50
$0.00
$0.60
N/A
$25.00
$10,000.00
Yes
No
 
Yes
Yes
No
No
Yes
 
Yes
Yes
Yes
5
18
35
141
 
No
No
No
No
No
 
No
No
No
No
No
 
0
0
0
5500
0
 
6.50%
6.50%
5.50%
5.50%
4.75%
4.00%
4.25%
 
No
No
No
No
No
No

All pricing data was obtained from a published web site as of 2/20/2017 and is believed to be accurate, but is not guaranteed. The StockBrokers.com staff is constantly working with its online broker representatives to obtain the latest pricing data. If you believe any data listed above is inaccurate, please contact us using the link at the bottom of this page. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

arrow_drop_upBack to top