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). With options, the base fee is $0 for both Lightspeed Trading and Robinhood. Each option contract then costs $N/A at Robinhood and $0.60 at Lightspeed Trading. 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 supports Stock Trading while Lightspeed Trading supports 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 for investors means access to 0 commission free ETFs at both brokers.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Lightspeed Trading offers virtual trading while Robinhood does not. For mobile trading, Both Lightspeed Trading and Robinhood offer clients access to an iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Unfortunately, Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are not available at Lightspeed Trading or Robinhood . All factors considered, when it comes to platform tools, research, and mobile trading, unfortunately, neither Lightspeed Trading nor Robinhood received awards Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, both Lightspeed Trading and Robinhood are rated 2.50 stars.