Comparing brokers side by side is no easy task. For our 2017 Broker Review, we assessed 16 brokers on 308 different variables to find the best online broker
. Yielding a database of over 5,000 data points, let's compare Lightspeed Trading vs Robinhood.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular 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 Robinhood, costing $N/A versus $0.60 at Lightspeed Trading. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review
Next to commission rates, being able to trade what you want is important. Robinhood supports Stock Trading while Lightspeed Trading supports Stock Trading, Options Trading and Futures Trading. Looking at mutual funds, both brokers offer clients access to the same number of mutual funds, 0. Commission free ETFs can also be valuable for customers, which for investors means access to 0 commission free ETFs at both brokers.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Lightspeed Trading makes virtual trading available to clients, while Robinhood does not. Taking a look at mobile trading, Robinhood offers the iPhone App, iPad App and Android App while Lightspeed Trading offers the none of these. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Neither Lightspeed Trading nor Robinhood offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans. On the whole, when it comes to tools, research, and mobile trading, both Lightspeed Trading and Robinhood found themselves without awards for Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading in 2017.
Overall, both Lightspeed Trading and Robinhood are rated 2.50 stars.