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Lightspeed vs Robinhood 2019
The StockBrokers.com annual review (9 years running) takes six months to complete and produces over 30,000 words of research each year. Here's how we test.
Is Lightspeed better than Robinhood? Based on over 4,000 data points from our 2019 annual broker review, Lightspeed (51.8%) is better than Robinhood (46.99%). Lightspeed is a direct-access, online discount brokerage that focuses on serving active and professional traders through its in-house and third-party trading platforms. Casual traders beware though, not trading enough will mean getting stuck paying high monthly platform fees.
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Overall Rating
| Feature | Lightspeed | Robinhood |
| Overall | ||
| 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 | ||
| Winner | check_circle |
Margin Rates
| Feature | Lightspeed | Robinhood |
| Under $24,999.99 | 8.50% | 5.00% |
| $25,000.00 to $49,999.99 | 8.50% | 5.00% |
| $50,000.00 to $99,999.99 | 7.50% | 5.00% |
| $100,000.00 to $249,999.99 | 7.50% | 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 | ||
| 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 |
Investment Options
| Feature | Lightspeed | Robinhood |
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Stock Trading |
Yes | Yes |
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OTCBB / Pink Sheets |
Yes | No |
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Options Trading |
Yes | Yes |
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Complex Options Max Legs |
4 | 4 |
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Futures Trading |
Yes | No |
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Forex Trading |
No | No |
| Commission-Free ETFs | 0 | all |
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Mutual Funds (No Load) |
0 | 0 |
|
Mutual Funds (Total) |
0 | 0 |
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Bonds (US Treasury) |
Yes | No |
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Bonds (Corporate) |
No | No |
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Bonds (Municipal) |
No | No |
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Advisor Services |
No | No |
|
International Trading |
No | No |
| Offering of Investments | ||
| Winner | check_circle |
Order Types
| Feature | Lightspeed | Robinhood |
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Order Type - Market |
Yes | Yes |
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Order Type - Limit |
Yes | Yes |
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Order Type - Stop |
Yes | Yes |
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Order Type - Trailing Stop |
Yes | No |
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Order Type - Contingent |
Yes | No |
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Order Type - MultiContingent |
Yes | No |
|
Order Type - OCO |
Yes | No |
|
Order Type - OTO |
Yes | No |
|
Order Type - OTOCO |
Yes | No |
| Offering of Investments | ||
| Winner | check_circle |
Trading Platforms
| Feature | Lightspeed | Robinhood |
|
Desktop Platform (Windows) |
Yes | No |
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Desktop Platform (Mac) |
Yes | No |
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Web Platform |
Yes | Yes |
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Paper Trading |
Yes | No |
|
Trade Journal |
No | No |
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Watch Lists - Total Fields |
141 | 7 |
|
Two-Factor Authentication Login |
Yes | Yes |
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Heat Mapping |
No | No |
| Platforms & Tools | ||
| Winner | check_circle |
Charting Features
| Feature | Lightspeed | Robinhood |
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Charting - Trade Off Chart |
Yes | No |
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Charting - Indicators / Studies |
20 | 0 |
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Charting - Drawing Tools |
8 | 0 |
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Charting - Historical Trades |
Yes | No |
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Charting - Corporate Events |
No | No |
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Charting - Automated Analysis |
No | No |
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Charting - Save Profiles |
Yes | No |
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Charting - Study Customizations |
4 | 0 |
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Charting - Custom Studies |
No | No |
| Platforms & Tools | ||
| Winner | check_circle |
Day Trading
| Feature | Lightspeed | Robinhood |
|
Stock Alerts - Basic Fields |
Yes | No |
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Stock Alerts - Advanced Fields |
No | No |
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Streaming Time & Sales |
Yes | No |
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Streaming TV |
No | No |
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Direct Market Routing - Stocks |
Yes | No |
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Direct Market Routing - Options |
Yes | No |
|
Ladder Trading |
No | No |
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Trade Hot Keys |
Yes | No |
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Level 2 Quotes - Stocks |
Yes | No |
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Level 2 Quotes - Options |
Yes | No |
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Trade Ideas - Backtesting |
No | No |
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Short Locator |
Yes | No |
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Client Liquidity Rebates |
Yes | No |
| Winner | check_circle |
Mobile Trading Apps
| Feature | Lightspeed | Robinhood |
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iPhone App |
Yes | Yes |
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Android App |
Yes | Yes |
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Apple Watch App |
No | Yes |
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Trading - Stocks |
Yes | Yes |
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Trading - After-Hours |
No | Yes |
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Trading - Conditional Orders |
No | No |
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Trading - Mutual Funds |
No | No |
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Trading - Simple Options |
No | Yes |
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Trading - Complex Options |
No | Yes |
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Trading - Option Rolling |
No | No |
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Touch / Face ID |
No | Yes |
| Winner | check_circle |
Mobile App Features
| Feature | Lightspeed | Robinhood |
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Watch List Syncing |
No | Yes |
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Stock Alerts - Basic Fields |
No | Yes |
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Charting - After Hours |
No | Yes |
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Charting - Drawing |
No | No |
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Charting - Study Customizations |
No | No |
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Customizable Homescreen |
No | No |
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Heatmapping |
No | No |
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Stream Live TV |
No | No |
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Barcode Lookup |
No | No |
| Mobile Trading | ||
| Winner | check_circle |
Research Overview
| Feature | Lightspeed | Robinhood |
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Research - Stocks |
Yes | Yes |
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Research - ETFs |
No | Yes |
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Research - Mutual Funds |
No | No |
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Research - Pink Sheets / OTCBB |
No | No |
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Research - Fixed Income |
No | No |
|
Screener - Stocks |
Yes | No |
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Screener - ETFs |
No | No |
|
Screener - Mutual Funds |
No | No |
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Screener - Options |
No | No |
|
Screener - Bonds |
No | No |
|
Misc - Portfolio Builder |
No | No |
|
Misc - Portfolio Allocation |
No | Yes |
| Research | ||
| Winner | check_circle |
Stock Research
| Feature | Lightspeed | Robinhood |
|
Stock Research - Reports |
0 | 0 |
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Stock Research - Earnings |
No | Yes |
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Stock Research - Insiders |
Yes | No |
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Stock Research - Metric Comp |
No | No |
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Stock Research - SEC Filings |
No | No |
|
Stock Research - Social |
Yes | No |
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Stock Research - Balance Sheet |
No | No |
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Stock Research - Cash Flows |
No | No |
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Stock Research - News |
Yes | Yes |
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Stock Research - ESG |
No | No |
| Research | ||
| Winner | check_circle |
ETF Research
| Feature | Lightspeed | Robinhood |
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ETFs - Strategy Overview |
No | Yes |
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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 | ||
| Winner | check_circle |
Mutual Fund Research
| Feature | Lightspeed | Robinhood |
|
Mutual Funds - Strategy Overview |
No | No |
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Mutual Funds - Prospectus |
No | No |
|
Mutual Funds - Reports |
No | No |
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Mutual Funds - Fees Breakdown |
No | No |
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Mutual Funds - Top 10 Holdings |
No | No |
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Mutual Funds - Asset Allocation |
No | No |
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Mutual Funds - Sector Allocation |
No | No |
|
Mutual Funds - Country Allocation |
No | No |
|
Mutual Funds - StyleMap |
No | No |
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Mutual Funds - 3rd Party Ratings |
No | No |
| Research | ||
| Winner | check_circle |
Options Trading
| Feature | Lightspeed | Robinhood |
|
Option Chains - Streaming |
Yes | No |
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Option Chains - Total Columns |
60 | 5 |
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Option Chains - Greeks |
5 | 0 |
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Option Chains - Quick Analysis |
Yes | No |
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Option Analysis - P&L Charts |
Yes | No |
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Option Probability Analysis |
No | No |
|
Option Probability Analysis Adv |
No | No |
|
Option Positions - Greeks |
Yes | No |
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Option Positions - Adv Analysis |
No | No |
|
Option Positions - Rolling |
Yes | No |
|
Option Positions - Grouping |
Yes | No |
| Platforms & Tools | ||
| Winner | check_circle |
Beginners
| Feature | Lightspeed | Robinhood |
|
Has Education - Stocks |
Yes | Yes |
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Has Education - ETFs |
No | No |
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Has Education - Options |
Yes | Yes |
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Has Education - Mutual Funds |
No | No |
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Has Education - Fixed Income |
No | No |
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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 | ||
| Winner | check_circle |
Banking
| Feature | Lightspeed | Robinhood |
|
Retail Locations |
0 | 0 |
|
Member FDIC |
No | No |
|
Checking Accounts |
No | No |
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Savings Accounts |
No | No |
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Credit Cards |
No | No |
|
Debit Cards |
No | No |
|
Mortgage Loans |
No | No |
|
No Fee Banking |
No | No |
| Banking | ||
| Winner | check_circle |
Overall
| Feature | Lightspeed | Robinhood |
| Lightspeed Review | Robinhood Review | |
| Overall | ||
| Winner | check_circle |
The StockBrokers.com annual broker review assesses more than a dozen different brokers over six months, surfacing the best online stock brokers. This review compares Lightspeed vs Robinhood. Is Lightspeed or Robinhood a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. Lightspeed, with its regular stock trades costing $4.50, is more expensive than Robinhood's rate of $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. Note that some brokers charge a per-share fee instead of a flat-fee commission. For a full breakdown of commissions, read our online broker reviews.
For our next comparison of these two brokers, being able to trade the way you want is a must. Robinhood supports Stock Trading and Options Trading while Lightspeed supports Stock Trading, Options Trading and Futures Trading. When it comes to mutual funds, both Lightspeed and Robinhood provide clients with access to 0 total mutual funds.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Lightspeed has virtual trading, Robinhood doesn't. For mobile trading, Lightspeed along with Robinhood both support the iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Banking is not popular with Lightspeed and Robinhood as Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are all unavailable.
Overall, between Lightspeed and Robinhood, Lightspeed is the winner.
Lightspeed Review
Robinhood Review
First, we will make a comparison of the stock and option trading fees for trading with both brokers. Lightspeed, with its regular stock trades costing $4.50, is more expensive than Robinhood's rate of $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. Note that some brokers charge a per-share fee instead of a flat-fee commission. For a full breakdown of commissions, read our online broker reviews.
For our next comparison of these two brokers, being able to trade the way you want is a must. Robinhood supports Stock Trading and Options Trading while Lightspeed supports Stock Trading, Options Trading and Futures Trading. When it comes to mutual funds, both Lightspeed and Robinhood provide clients with access to 0 total mutual funds.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Lightspeed has virtual trading, Robinhood doesn't. For mobile trading, Lightspeed along with Robinhood both support the iPhone App, iPad App and Android App. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Banking is not popular with Lightspeed and Robinhood as Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are all unavailable.
Overall, between Lightspeed and Robinhood, Lightspeed is the winner.
Lightspeed Review
Robinhood Review
All pricing data was obtained from a published web site as of 02/18/2019 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.
