Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of 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, with its regular stock trades costing $4.50, is more expensive than Robinhood's rate of $0 per trade. 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. 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 provides its clients with Stock Trading and Options Trading while Lightspeed Trading provides clients access to Stock Trading, Options Trading and Futures Trading. Looking at mutual funds, both brokers offer the same number of mutual funds, 0. Commission free ETFs can also be valuable for customers, Robinhood offers 499 commission free ETFs versus Lightspeed Trading's total of 0.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Lightspeed Trading has virtual trading, Robinhood doesn't. Taking a look at mobile trading, Lightspeed Trading along with Robinhood both support the iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Unfortunately, Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are not available at Lightspeed Trading or Robinhood . On the whole, when it comes to 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.