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 Lightspeed Trading vs Merrill Edge. Is Lightspeed Trading or Merrill Edge a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. Merrill Edge charges more than Lightspeed Trading for placing regular stock trades ($6.95 and $4.50, respectively). With options, the base fees charged are $6.95 (Merrill Edge) and $0 (Lightspeed Trading). Option contracts are pricier at Merrill Edge, costing $0.75 versus $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. Merrill Edge supports Stock Trading, Options Trading and Mutual Funds while Lightspeed Trading supports Stock Trading, Options Trading and Futures Trading. When it comes to mutual funds, Merrill Edge offers its clients access to 3688 different mutual funds while Lightspeed Trading has 0 available funds, a difference of 3,688. Commission free ETFs can also be a nice plus, which for investors means access to 0 commission free ETFs at both brokers.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Lightspeed Trading offers virtual trading while Merrill Edge does not. For mobile trading, Lightspeed Trading along with Merrill Edge both support the iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Merrill Edge while Lightspeed Trading offers none of these. On the whole, when it comes to tools, research, and mobile trading, Merrill Edge was rated Best in Class - Research, while Lightspeed Trading was rated none of these.
Overall, Merrill Edge comes out on top with 4.00 stars over Lightspeed Trading's 2.50 stars.