Using data from the StockBrokers.com 2017 Broker Review which tested 16 different online brokers
over six months, we can compare Interactive Brokers vs Lightspeed Trading to determine which broker is best. Let's dive in.
First, we will break down the commission charges of both brokers for placing 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. Instead of flat rate fees, several brokers charge a per-share fee instead. For a complete review of trading charges, read our full online broker reviews
Next, investors want to make sure they can trade the investment vehicle they want. Lightspeed Trading supports Stock Trading, Options Trading and Futures Trading while Interactive Brokers supports Stock Trading, Options Trading, Mutual Funds and Futures Trading. As far as mutual funds go, Lightspeed Trading trails Interactive Brokers by 8,026 total mutual funds, with Interactive Brokers offering 8026 and Lightspeed Trading offering 0. And, commission free ETFs deserve a comparison, with Interactive Brokers having the upper hand thanks to its 33 available commission free ETFs compared to Lightspeed Trading's offering of 0.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Interactive Brokers alongside Lightspeed Trading offer virtual trading. For mobile trading, Interactive Brokers offer clients access to an iPhone App, iPad App and Android App while Lightspeed Trading has an none of these. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Unfortunately, Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are not available at Interactive Brokers or Lightspeed Trading . All factors considered, when it comes to platform tools, research, and mobile trading, Interactive Brokers finished with awards Best in Class - Platforms & Tools and Best in Class - Mobile Trading in 2017, while Lightspeed Trading came up with none of these.
Overall, Interactive Brokers takes the upper hand with 4.00 stars over Lightspeed Trading's 2.50 stars.