Using data from our latest annual broker review which tested more than a dozen different online brokers
over six months, we can compare Lightspeed Trading vs Robinhood 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 Robinhood for placing regular stock trades ($4.50 and $0, respectively). For options trading, both Lightspeed Trading and Robinhood charge the same base fee of $0. Option contracts are pricier at Lightspeed Trading, costing $0.60 versus $0 at Robinhood. 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. Robinhood provides its clients with Stock Trading and Options Trading while Lightspeed Trading provides clients access to Stock Trading, Options Trading and Futures Trading. As far as mutual funds go, both brokers offer clients access to the same number of mutual funds, 0. And, commission free ETFs deserve a comparison, which is a wash in this comparison as both Lightspeed Trading and Robinhood offer 0 commission free ETFs.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Lightspeed Trading makes virtual trading available to clients, while Robinhood does not. For mobile trading, Lightspeed Trading along with Robinhood 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. Banking is not popular with Lightspeed Trading and Robinhood as Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are all unavailable. All factors considered, when it comes to platform tools, research, and mobile trading, neither Lightspeed Trading nor Robinhood were rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Lightspeed Trading comes out on top with 3.00 stars over Robinhood's 2.50 stars.