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. Looking at options, the base fees charged are the same for both brokers, $0. Each option contract then costs $0.60 at Lightspeed Trading and $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 supports Stock Trading and Options Trading while Lightspeed Trading supports Stock Trading, Options Trading and Futures Trading. Looking at mutual funds, both Lightspeed Trading and Robinhood provide clients with access to 0 total mutual funds. 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 offers virtual trading while Robinhood does not. Taking a look at mobile trading, Lightspeed Trading and Robinhood both have a 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. 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.
Overall, Lightspeed Trading comes out on top with 3.00 stars over Robinhood's 2.50 stars.