Merrill Edge vs Lightspeed Trading Review

Using data from the StockBrokers.com 2017 Broker Rankings, we can compare Lightspeed Trading vs Merrill Edge to determine which broker is better for you. Our database includes thousands of data points on everything from research to trading tools. Let's take a closer look at Lightspeed Trading and Merrill Edge.

First we will break down the commission charges of both brokers for placing stock and options trades. Merrill Edge, with its regular stock trades costing $6.95, is more expensive than Lightspeed Trading's rate of $4.50 per trade. Looking at trading options, Lightspeed Trading's base fee is $0.00 while Merrill Edge's is $6.95. Each contract then costs $0.75 at Merrill Edge and $0.60 at Lightspeed Trading for a difference in price of $0.15 per contract. Note that flat rate trading is not available everywhere though, so it is important to read the complete commission notes for each broker to know the full breakdown (go to any stock broker review page, then scroll down to the "Commission Notes" section).

Trading fees aside, having access to trade what you want is also an important consideration. Merrill Edge provides its clients with Stock Trading, Options Trading and Mutual Funds while Lightspeed Trading gives clients access to Stock Trading, Options Trading and Futures Trading. As far as mutual funds go, Lightspeed Trading trails Merrill Edge by 7,649.00 total funds, with Merrill Edge offering 7649 and Lightspeed Trading offering 0. And, commission free ETFs deserve a mention, which is a wash in this comparison as both Lightspeed Trading and Merrill Edge offer 0 funds.

Finally, by looking at the most popular features and offerings of each broker, we can really see the differences between the two. Lightspeed Trading makes virtual trading available to clients, while Merrill Edge does not. For mobile trading, Merrill Edge gives 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 clients, and multiple brokerages provide these services. Clients can have Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans at Merrill Edge while clients at Lightspeed Trading can have none of these. All things considered, when it comes to platform tools, research, and trading via smartphone, Merrill Edge was rated for Best in Class - Research in 2014, while Lightspeed Trading was rated for none of these.

Overall, Merrill Edge takes the upper hand with 4.00 stars over Lightspeed Trading's 2.50 stars.