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Robinhood vs Lightspeed 2021

Is Lightspeed better than Robinhood? After testing 11 of the best online brokers over three months, Robinhood (62.62%) is better than Lightspeed (61.3%). 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.


Overall Rating

Feature Robinhood Lightspeed
Overall 3 3
Commissions & Fees 4.5 2.5
Offering of Investments 2.5 3
Platforms & Tools 2 3
Mobile Trading 4 3
Research 2 2
Education 3 3
Ease of Use 5 3
Robinhood Review Lightspeed Review
Winner check_circle

Trading Fees

Feature Robinhood Lightspeed
Minimum Deposit $0.00 $10,000.00
Stock Trades $0.00 $4.50
ETF Trade Fee $0.00 $4.50
Mutual Fund Trade Fee N/A N/A
Options (Base Fee) $0.00 $0.00
Options (Per Contract) $0.00 $0.60
Futures (Per Contract) N/A $1.29
Broker Assisted Trade Fee N/A $25.00

Margin Rates

Feature Robinhood Lightspeed
Under $24,999.99 2.50% 7.50%
$25,000.00 to $49,999.99 2.50% 7.50%
$50,000.00 to $99,999.99 2.50% 6.50%
$100,000.00 to $249,999.99 2.50% 6.50%
$250,000.00 to $499,999.99 2.50% 5.75%
$500,000.00 to $999,999.99 2.50% 5.25%
Above $1,000,000.00 2.50% 5.00%

Account Fees

Feature Robinhood Lightspeed
IRA Annual Fee N/A $35.00
IRA Closure Fee N/A $95.00
Account Transfer Out (Partial)
$75.00 $95.00
Account Transfer Out (Full)
$75.00 $95.00

Investment Options

Feature Robinhood Lightspeed
Stock Trading
Yes Yes
Fractional Shares
Yes No
OTCBB / Pink Sheets
No Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 4
Futures Trading
No Yes
Forex Trading
No No
Crypto Trading
Yes No
Crypto Trading - Total Coins
7 0
Mutual Funds (No Load)
0 0
Mutual Funds (Total)
0 0
Bonds (US Treasury)
No Yes
Bonds (Corporate)
No No
Bonds (Municipal)
No No
Advisor Services
No No
International Trading
No No

Order Types

Feature Robinhood Lightspeed
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - After-Hours
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
Order Type - OCO
No Yes
Order Type - OTO
No Yes
Order Type - Broker Assisted
No Yes

Beginners

Feature Robinhood Lightspeed
Education (Stocks)
Yes Yes
Education (ETFs)
No No
Education (Options)
Yes Yes
Education (Mutual Funds)
No No
Education (Bonds)
No No
Education (Retirement)
No No
Retirement Calculator
No No
Investor Dictionary
Yes Yes
Paper Trading
No Yes
Videos
No Yes
Webinars (Monthly Avg)
0 1
Webinars (Archived)
No Yes
Progress Tracking
No No
Interactive Learning - Quizzes
No No

Stock Trading Apps

Feature Robinhood Lightspeed
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
Yes No
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes No
Trading - Simple Options
Yes Yes
Trading - Complex Options
Yes Yes
Order Ticket RT Quotes
Yes Yes
Order Ticket SRT Quotes
Yes Yes

Stock App Features

Feature Robinhood Lightspeed
Market Movers (Top Gainers)
Yes Yes
Stream Live TV
No No
Videos on Demand
Yes No
Stock Alerts
No Yes
Option Chains Viewable
Yes Yes
Watch List (Real-time)
Yes Yes
Watch List (Streaming)
No Yes
Watch Lists - Create & Manage
Yes Yes
Watch Lists - Column Customization
Yes No
Watch List - Column Filtering
Yes Yes

Stock App Charting

Feature Robinhood Lightspeed
Charting - After-Hours
Yes No
Charting - Can Turn Horizontally
No Yes
Charting - Multiple Time Frames
Yes Yes
Charting - Technical Studies
0 0
Charting - Study Customizations
No No
Charting - Stock Comparisons
No No

Trading Platforms

Feature Robinhood Lightspeed
Desktop Trading Platform
No Yes
Web Trading Platform
Yes Yes
Paper Trading
No Yes
Trade Journal
No No
Watch Lists - Total Fields
7 141

Stock Chart Features

Feature Robinhood Lightspeed
Charting - Adjust Trades on Chart
No Yes
Charting - Indicators / Studies
5 20
Charting - Drawing Tools
0 8
Charting - Notes
No No
Charting - Index Overlays
No Yes
Charting - Historical Trades
No Yes
Charting - Corporate Events
No No
Charting - Custom Date Range
No No
Charting - Custom Time Bars
No No
Charting - Automated Analysis
No No
Charting - Save Profiles
No Yes
Trade Ideas - Technical Analysis
No No
Charting - Study Customizations
2 4
Charting - Custom Studies
No No

Day Trading

Feature Robinhood Lightspeed
Streaming Time & Sales
No Yes
Streaming TV
No No
Direct Market Routing - Stocks
No Yes
Ladder Trading
No No
Trade Hot Keys
No Yes
Level 2 Quotes - Stocks
No Yes
Trade Ideas - Backtesting
No No
Trade Ideas - Backtesting Adv
No No
Short Locator
No Yes
Order Liquidity Rebates
No Yes

Research Overview

Feature Robinhood Lightspeed
Research - Stocks
Yes Yes
Research - ETFs
Yes Yes
Research - Mutual Funds
No No
Research - Pink Sheets / OTCBB
No No
Research - Bonds
No No
Screener - Stocks
No Yes
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
Yes No

Stock Research

Feature Robinhood Lightspeed
Stock Research - PDF Reports
0 0
Stock Research - Earnings
Yes No
Stock Research - Insiders
No Yes
Stock Research - SEC Filings
No No
Stock Research - Social
No Yes
Stock Research - Balance Sheet
No No
Stock Research - Cash Flows
No No
Stock Research - News
Yes Yes
Stock Research - ESG
No No

ETF Research

Feature Robinhood Lightspeed
ETFs - Strategy Overview
Yes No
ETF Fund Facts - Inception Date
No No
ETF Fund Facts - Expense Ratio
No No
ETF Fund Facts - Net Assets
No No
ETF Fund Facts - Total Holdings
No No
ETFs - Top 10 Holdings
No No
ETFs - Performance Analysis
Yes No
ETFs - Sector Exposure
No No
ETFs - Risk Analysis
No No
ETFs - Ratings
No No
ETFs - Morningstar StyleMap
No No
ETFs - PDF Reports
No No

Mutual Fund Research

Feature Robinhood Lightspeed
Mutual Funds - Strategy Overview
No No
Mutual Funds - Performance Chart
No No
Mutual Funds - Performance Analysis
No No
Mutual Funds - Prospectus
No No
Mutual Funds - PDF 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

Options Trading

Feature Robinhood Lightspeed
Option Chains - Basic View
Yes Yes
Option Chains - Strategy View
No No
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
17 60
Option Chains - Greeks
5 5
Option Positions - Greeks Streaming
Yes Yes
Option Chains - Quick Analysis
Yes Yes
Option Analysis - P&L Charts
Yes Yes
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
No Yes
Option Positions - Grouping
No Yes

Banking

Feature Robinhood Lightspeed
Bank (Member FDIC)
No No
Checking Accounts
No No
Savings Accounts
No No
Credit Cards
No No
Debit Cards
Yes No
Mortgage Loans
No No

Customer Service

Feature Robinhood Lightspeed
Phone Support (Prospect Customers)
No Yes
Phone Support (Current Customers)
Yes Yes
Email Support
Yes Yes
Live Chat (Prospect Customers)
No No
Live Chat (Current Customers)
No No
24/7 Support
No No

Overall

Feature Robinhood Lightspeed
Overall 3 3
Commissions & Fees 4.5 2.5
Offering of Investments 2.5 3
Platforms & Tools 2 3
Mobile Trading 4 3
Research 2 2
Education 3 3
Ease of Use 5 3
Robinhood Review Lightspeed Review
Winner check_circle

Comparing brokers side by side is no easy task. For our 2021 annual broker review, we spent hundreds of hours assessing 11 brokerages to find the best online broker. Let's compare Lightspeed vs Robinhood.

Is Lightspeed or Robinhood better for beginners?
Robinhood is better for beginner investors than Lightspeed. Robinhood offers investors access to Education (Stocks) and Education (Options).

What about Lightspeed vs Robinhood pricing?
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. Option contracts are pricier at Lightspeed, costing $0.60 versus $0 at Robinhood. For a complete commissions summary, see our best discount brokers guide.

Does Lightspeed or Robinhood offer a wider range of investment options?
Robinhood offers a more diverse selection of investment options than Lightspeed. Robinhood offers investors access to Stock Trading, Fractional Shares and Options Trading. Looking at Mutual Funds, both brokers offer clients access to the same number of mutual funds, 0.

Which trading platform is better: Lightspeed or Robinhood?
To compare the trading platforms of both Lightspeed and Robinhood, we tested each broker's trading tools, research capabilities, and mobile apps. For trading tools, Robinhood offers a better experience. With research, Robinhood offers superior market research. Finally, we found Robinhood to provide better mobile trading apps.

Does either broker offer banking?
Online banking can be a benefit for investors, and some brokerages do provide banking services to customers. Clients can have Debit Cards at Robinhood while customers at Lightspeed can have none of these.

Overall winner: Robinhood

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All pricing data was obtained from a published web site as of 01/19/2021 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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