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Lightspeed vs Robinhood 2020

StockBrokers.com | January 21st, 2020

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  3. Lightspeed vs Robinhood Review

Is Robinhood better than Lightspeed? After scoring brokers in eight separate categories for our 2020 review, Robinhood (62.62%) is better than Lightspeed (61.30%).

Robinhood

Robinhood
Robinhood used to shine thanks to its easy-to-use mobile app and $0 trades. However, today, all of the largest online brokers offer free stock and ETF trades. As a result, it is much more difficult for Robinhood to outduel the competition. Read full review

Lightspeed

Lightspeed Trader
Lightspeed is a direct-access online brokerage that focuses on serving active and professional traders through its in-house and third-party trading platforms. Casual traders beware, not trading enough means paying high monthly platform fees. Read full review

Overall Rating

Feature Lightspeed Robinhood
Overall 3 3
Lightspeed Review Robinhood Review

Trading Fees

Feature Lightspeed Robinhood
Minimum Deposit $10,000.00 $0.00
Stock Trade Fee (per trade) $4.50 $0.00
ETF Trade Fee $4.50 $0.00
Options Base Fee $0.00 $0.00
Options Per Contract Fee $0.60 $0.00
Mutual Fund Trade Fee N/A N/A
Broker Assisted Trades Fee $25.00 $0.00
Commissions & Fees 2.5 4.5
Winner check_circle

Margin Rates

Feature Lightspeed Robinhood
Under $24,999.99 8.00% 5.00%
$25,000.00 to $49,999.99 8.00% 5.00%
$50,000.00 to $99,999.99 7.00% 5.00%
$100,000.00 to $249,999.99 7.00% 5.00%
$250,000.00 to $499,999.99 6.75% 5.00%
$500,000.00 to $999,999.99 6.25% 5.00%
Above $1,000,000.00 6.00% 5.00%
Commissions & Fees 2.5 4.5
Winner check_circle

Account Fees

Feature Lightspeed Robinhood
IRA Annual Fee $35.00 $0.00
IRA Closure Fee $95.00 $0.00
Returned ACH Fee $30.00 $9.00
Returned Wire Fee $30.00 $9.00
Stock Certificate Processing Fee $75.00 N/A
Stock Certificate Delivery Fee $50.00 N/A
Paper Statement Fee $5.00 $5.00
Paper Confirmation Fee $2.00 $2.00
Domestic Wire Fee $20.00 $25.00
International Wire Fee $50.00 $50.00
Commissions & Fees 2.5 4.5

Investment Options

Feature Lightspeed Robinhood
Stock Trading
 Yes Yes
Fractional Shares
 No No
OTCBB / Pink Sheets
 Yes No
Options Trading
 Yes Yes
Complex Options Max Legs
 4 4
Futures Trading
 Yes No
Forex Trading
 No No
Commission-Free ETFs 0 all
Mutual Funds (No Load)
 0 0
Mutual Funds (Total)
 0 0
Bonds (US Treasury)
 Yes No
Bonds (Corporate)
 No No
Bonds (Municipal)
 No No
Interest Sharing
 No No
Advisor Services
 No No
International Trading
 No No
Offering of Investments 3 2
Winner check_circle

Order Types

Feature Lightspeed Robinhood
Order Type - Market
 Yes Yes
Order Type - Limit
 Yes Yes
Order Type - Stop
 Yes Yes
Order Type - Trailing Stop
 Yes Yes
Order Type - Contingent
 Yes No
Order Type - MultiContingent
 Yes No
Order Type - OCO
 Yes No
Order Type - OTO
 Yes No
Order Type - OTOCO
 Yes No
Offering of Investments 3 2
Winner check_circle

Trading Platforms

Feature Lightspeed Robinhood
Desktop Platform (Windows)
 Yes No
Desktop Platform (Mac)
 Yes No
Web Platform
 Yes Yes
Paper Trading
 Yes No
Trade Journal
 No No
Watch Lists - Total Fields
 141 7
Heat Mapping
 No No
AI Assistant Bot
 No No
Platforms & Tools 3 2
Winner check_circle

Charting Features

Feature Lightspeed Robinhood
Charting - Trade Off Chart
 Yes No
Charting - Indicators / Studies
 20 5
Charting - Drawing Tools
 8 0
Charting - Historical Trades
 Yes No
Charting - Corporate Events
 No No
Charting - Automated Analysis
 No No
Charting - Save Profiles
 Yes No
Charting - Study Customizations
 4 2
Charting - Custom Studies
 No No
Platforms & Tools 3 2
Winner check_circle

Day Trading

Feature Lightspeed Robinhood
Stock Alerts - Basic Fields
 Yes No
Stock Alerts - Advanced Fields
 No No
Streaming Time & Sales
 Yes No
Streaming TV
 No No
Direct Market Routing - Stocks
 Yes No
Direct Market Routing - Options
 Yes No
Ladder Trading
 No No
Trade Hot Keys
 Yes No
Level 2 Quotes - Stocks
 Yes No
Level 2 Quotes - Options
 Yes No
Trade Ideas - Backtesting
 No No
Short Locator
 Yes No
Order Liquidity Rebates
 Yes No
Winner check_circle

Mobile Trading Apps

Feature Lightspeed Robinhood
iPhone App
 Yes Yes
Android App
 Yes Yes
Apple Watch App
 No Yes
Trading - Stocks
 Yes Yes
Trading - After-Hours
 No Yes
Trading - Conditional Orders
 No No
Trading - Mutual Funds
 No No
Trading - Simple Options
 Yes Yes
Trading - Complex Options
 Yes Yes
Trading - Option Rolling
 No No
Touch / Face ID
 No Yes
Winner check_circle

Mobile App Features

Feature Lightspeed Robinhood
Watch List Syncing
No Yes
Stock Alerts
 Yes Yes
Charting - After Hours
 No Yes
Charting - Drawing
 No No
Charting - Study Customizations
No No
Heatmapping
 No No
Stream Live TV
 No No
Barcode Lookup
 No No
Mobile Trading 3 4
Winner check_circle

Research Overview

Feature Lightspeed Robinhood
Research - Stocks
 Yes Yes
Research - ETFs
 Yes Yes
Research - Mutual Funds
 No No
Research - Pink Sheets / OTCBB
 No No
Research - Fixed Income
 No No
Screener - Stocks
 Yes No
Screener - ETFs
 No No
Screener - Mutual Funds
 No No
Screener - Options
 No No
Screener - Bonds
 No No
Misc - Portfolio Builder
 No No
Misc - Portfolio Allocation
 No Yes
Research 2 2
Winner check_circle

Stock Research

Feature Lightspeed Robinhood
Stock Research - Reports
 0 0
Stock Research - Earnings
 No Yes
Stock Research - Insiders
 Yes No
Stock Research - Metric Comp
 No No
Stock Research - SEC Filings
 No No
Stock Research - Social
 Yes No
Stock Research - Balance Sheet
 No No
Stock Research - Cash Flows
 No No
Stock Research - News
 Yes Yes
Stock Research - ESG
 No No
Research 2 2
Winner check_circle

ETF Research

Feature Lightspeed Robinhood
ETFs - Strategy Overview
 No Yes
ETFs - Top 10 Holdings
 No No
ETFs - Sector Exposure
 No No
ETFs - Risk Analysis
 No No
ETFs - Performance Analysis
 No Yes
ETFs - Ratings
 No No
ETFs - Morningstar StyleMap
 No No
ETFs - Reports
 No No
Research 2 2
Winner check_circle

Mutual Fund Research

Feature Lightspeed Robinhood
Mutual Funds - Strategy Overview
 No No
Mutual Funds - Prospectus
 No No
Mutual Funds - Reports
 No No
Mutual Funds - Fees Breakdown
 No No
Mutual Funds - Top 10 Holdings
 No No
Mutual Funds - Asset Allocation
 No No
Mutual Funds - Sector Allocation
 No No
Mutual Funds - Country Allocation
 No No
Mutual Funds - StyleMap
 No No
Mutual Funds - 3rd Party Ratings
 No No
Research 2 2
Winner check_circle

Options Trading

Feature Lightspeed Robinhood
Option Chains - Streaming
 Yes No
Option Chains - Total Columns
 60 6
Option Chains - Greeks
5 5
Option Chains - Quick Analysis
 Yes No
Option Analysis - P&L Charts
 Yes No
Option Probability Analysis
 No No
Option Probability Analysis Adv
 No No
Option Positions - Greeks
Yes Yes
Option Positions - Adv Analysis
 No No
Option Positions - Rolling
 Yes No
Option Positions - Grouping
 Yes No
Platforms & Tools 3 2
Winner check_circle

Beginners

Feature Lightspeed Robinhood
Has Education - Stocks
 Yes Yes
Has Education - ETFs
 No No
Has Education - Options
 Yes Yes
Has Education - Mutual Funds
 No No
Has Education - Fixed Income
 No No
Has Education - Retirement
 No No
Paper Trading
 Yes No
Videos
 Yes No
Webinars (Monthly Avg)
 1 0
Webinars (Archived)
 Yes No
Live Seminars
 No No
Progress Tracking
 No No
Interactive Learning - Quizzes
 No No
Investor Magazine
 No No
Education 3 3
Winner check_circle

Banking

Feature Lightspeed Robinhood
Retail Locations
 0 0
Member FDIC
 No No
Checking Accounts
 No No
Savings Accounts
 No No
Credit Cards
 No No
Debit Cards
 No No
Mortgage Loans
 No No
No Fee Banking
 No No
Banking 0.5 0.5

Overall

Feature Lightspeed Robinhood
Lightspeed Review Robinhood Review
Overall 3 3
Winner check_circle

Using data from our latest annual broker review which tested more than a dozen different online brokers over six months, we can compare Lightspeed 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 charges $4.50 per stock trade which is $4.50 more than Robinhood which charges customers $0 per trade. For options trading, both Lightspeed and Robinhood charge the same base fee of $0. Each option contract then costs $0.60 at Lightspeed and $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 supports Stock Trading and Options Trading while Lightspeed supports Stock Trading, Options Trading and Futures Trading. As far as mutual funds go, both Lightspeed and Robinhood provide clients with access to 0 total mutual funds.

Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Lightspeed makes virtual trading available to clients, while Robinhood does not. For mobile trading, Both Lightspeed 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 or Robinhood .

Overall, between Lightspeed and Robinhood, Robinhood is the winner.

Lightspeed Review
Robinhood Review

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All pricing data was obtained from a published web site as of 01/20/2020 and is believed to be accurate, but is not guaranteed. For stock trade rates, advertised pricing is for a standard order size of 500 shares of stock priced at $30 per share. For options orders, an options regulatory fee per contract may apply.

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