Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker
. Yielding a database of over 5,000 data points, let's compare Interactive Brokers vs Lightspeed Trading.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. Lightspeed Trading, with its regular stock trades costing $4.50, is more expensive than Interactive Brokers's rate of $0 (the broker charges a per share rate instead) per trade. With options, the base fee is $0 for both Interactive Brokers and Lightspeed Trading. Each option contract then costs $0.70 at Interactive Brokers and $0.60 at Lightspeed Trading. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review
Next to commission rates, being able to trade what you want is important. Lightspeed Trading offers clients Stock Trading, Options Trading and Futures Trading while Interactive Brokers offers Stock Trading, Options Trading, Mutual Funds and Futures Trading. Looking at mutual funds, Interactive Brokers offers its clients access to 10051 different mutual funds while Lightspeed Trading has 0 available funds, a difference of 10,051. Commission free ETFs can also be valuable for customers, Interactive Brokers offers 45 commission free ETFs versus Lightspeed Trading's total of 0.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Both Interactive Brokers and Lightspeed Trading offer virtual trading. Taking a look at mobile trading, Both Interactive Brokers and Lightspeed Trading offer clients access to an iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Debit Cards are available to clients of Interactive Brokers while Lightspeed Trading offers customers none of these. On the whole, when it comes to tools, research, and mobile trading, neither Interactive Brokers nor Lightspeed Trading were rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Interactive Brokers comes out on top with 4.50 stars over Lightspeed Trading's 3.00 stars.