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 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 charges more than Interactive Brokers for placing regular stock trades ($4.50 and $0 (the broker charges a per share rate instead), respectively). 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. 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 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. As far as mutual funds go, Interactive Brokers boasts an offering of 10051 mutual funds compared to Lightspeed Trading's 0 available funds. And, commission free ETFs deserve a comparison, with Interactive Brokers having the upper hand thanks to its 45 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 and Lightspeed Trading both offer virtual trading. For mobile trading, Interactive Brokers along with Lightspeed Trading 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. Clients can have Debit Cards at Interactive Brokers while customers at Lightspeed Trading can have none of these. All factors considered, when it comes to platform 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 comes out on top with 4.50 stars over Lightspeed Trading's 3.00 stars.