Using data from our latest annual broker review which tested more than a dozen different online brokers
over six months, we can compare Interactive Brokers vs Lightspeed 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 charges more than Interactive Brokers for placing regular stock trades ($4.50 and $0 (the broker charges a per share rate instead), respectively). For options trading, both Interactive Brokers and Lightspeed charge the same base fee of $0. Each option contract then costs $0.70 at Interactive Brokers and $0.60 at Lightspeed. 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 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, Interactive Brokers offers its clients access to 11000 different mutual funds while Lightspeed has 0 available funds, a difference of 11,000.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Both Interactive Brokers and Lightspeed offer virtual trading. For mobile trading, Interactive Brokers along with Lightspeed both support the iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Checking Accounts and Debit Cards are available to clients of Interactive Brokers while Lightspeed offers customers none of these. All factors considered, when it comes to platform tools, research, and mobile trading, both Interactive Brokers and Lightspeed were rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, between Interactive Brokers and Lightspeed, Interactive Brokers is the winner
Interactive Brokers Review