The StockBrokers.com 2017 Brokerage Review
assessed 16 different brokers over six months. This review compares Interactive Brokers vs Lightspeed Trading. Is Interactive Brokers 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, 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. Option contracts are pricier at Interactive Brokers, costing $0.70 versus $0.60 at Lightspeed Trading. 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 provides its clients with Stock Trading, Options Trading and Futures Trading while Interactive Brokers provides clients access to Stock Trading, Options Trading, Mutual Funds and Futures Trading. When it comes to mutual funds, Lightspeed Trading trails Interactive Brokers by 8,026.00 total mutual funds, with Interactive Brokers offering 8026 and Lightspeed Trading offering 0. Commission free ETFs can also be a nice plus, with Interactive Brokers having the upper hand thanks to its 33 available commission free ETFs compared to Lightspeed Trading's offering 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. Interactive Brokers alongside Lightspeed Trading offer virtual trading. For mobile trading, Interactive Brokers supports the iPhone App, iPad App and Android App while Lightspeed Trading supports the none of these. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Neither Interactive Brokers nor Lightspeed Trading offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans. On the whole, when it comes to tools, research, and mobile trading, Interactive Brokers posted awards Best in Class - Platforms & Tools and Best in Class - Mobile Trading in 2017, while Lightspeed Trading found itself with none of these.
Overall, Interactive Brokers takes the upper hand with 4.00 stars over Lightspeed Trading's 2.50 stars.