The StockBrokers.com annual broker review assesses more than a dozen different brokers over six months, surfacing the best online stock brokers
. 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 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. Looking at options, the base fees charged are the same for both brokers, $0. Each option contract then costs $0.70 at Interactive Brokers and $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 offers clients Stock Trading, Options Trading and Futures Trading while Interactive Brokers offers Stock Trading, Options Trading, Mutual Funds and Futures Trading. When it comes to mutual funds, Interactive Brokers boasts an offering of 10051 mutual funds compared to Lightspeed Trading's 0 available funds. Commission free ETFs can also be a nice plus, with Interactive Brokers having the upper hand thanks to its 45 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 and Lightspeed Trading both offer virtual trading. For mobile trading, Interactive Brokers and Lightspeed Trading both have a iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple 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, Interactive Brokers posted awards Best in Class - Mobile Trading in 2018, while Lightspeed Trading found itself with none of these.
Overall, Interactive Brokers takes the upper hand with 4.50 stars over Lightspeed Trading's 3.00 stars.