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 charges $4.50 per stock trade which is $4.50 more than Interactive Brokers which charges customers $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. Lightspeed Trading's per contract rate of $0.60 is less than Interactive Brokers which charges $0.70. 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 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. Looking at mutual funds, Lightspeed Trading trails Interactive Brokers by 10,051 total mutual funds, with Interactive Brokers offering 10051 and Lightspeed Trading offering 0. Commission free ETFs can also be valuable for customers, with Interactive Brokers having the upper hand thanks to its 45 available commission free ETFs compared to Lightspeed Trading's offering of 0.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Interactive Brokers alongside 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. Clients can have Debit Cards at Interactive Brokers while customers at Lightspeed Trading can have none of these. On the whole, when it comes to tools, research, and mobile trading, Interactive Brokers finished with awards Best in Class - Platforms & Tools and Best in Class - Mobile Trading, while Lightspeed Trading came up with none of these.
Overall, Interactive Brokers boasts 4.00 stars versus Lightspeed Trading's 2.50 stars.