The StockBrokers.com annual broker review assesses more than a dozen different brokers over six months, surfacing the best online stock brokers
. This review compares Firstrade vs Lightspeed Trading. Is Firstrade or Lightspeed Trading a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. Lightspeed Trading charges more than Firstrade for placing regular stock trades ($4.50 and $0, respectively). With options, the base fee is $0 for both Firstrade and Lightspeed Trading. Each option contract then costs $0.60 at Lightspeed Trading and $0 at Firstrade. Note that some brokers charge a per-share fee instead of a flat-fee commission. For a full breakdown of commissions, read our online broker reviews
For our next comparison of these two brokers, 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, Lightspeed Trading trails Firstrade by 12,603 total mutual funds, with Firstrade offering 12603 and Lightspeed Trading offering 0. Commission free ETFs can also be a nice plus, Firstrade offers 2200 commission free ETFs versus Lightspeed Trading's total of 0.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Lightspeed Trading makes virtual trading available to clients, while Firstrade does not. For mobile trading, Firstrade along with Lightspeed Trading both support the iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Checking Accounts and Debit Cards are available to clients of Firstrade while Lightspeed Trading offers customers none of these. On the whole, when it comes to tools, research, and mobile trading, unfortunately, neither Firstrade nor Lightspeed Trading received awards Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Firstrade boasts 4.00 stars versus Lightspeed Trading's 3.00 stars.