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 vs Robinhood. Is Lightspeed or Robinhood a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. Lightspeed charges more than Robinhood for placing regular stock trades ($4.50 and $0, respectively). Looking at options, the base fees charged are the same for both brokers, $0. Robinhood's per contract rate of $0 is less than Lightspeed which charges $0.60. 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. Robinhood provides its clients with Stock Trading and Options Trading while Lightspeed provides clients access to Stock Trading, Options Trading and Futures Trading. When it comes to mutual funds, both brokers offer clients access to the same number of mutual funds, 0.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Lightspeed makes virtual trading available to clients, while Robinhood does not. For mobile trading, Lightspeed and Robinhood 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. Banking is not popular with Lightspeed and Robinhood as Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are all unavailable.
Overall, between Lightspeed and Robinhood, Lightspeed is the winner.