The StockBrokers.com 2017 Brokerage Review
compares Lightspeed Trading vs Scottrade. Compare Lightspeed Trading and Scottrade trade commissions, fees and overall broker ratings by using the table below. Is Lightspeed Trading or Scottrade a better online broker?
Looking at both brokers, first we will take a look at the commission rates for both placing regular stock and options trades. Scottrade charges $6.95 per stock trade which is $2.45 more than Lightspeed Trading which charges clients $4.50 per trade. With options, the base fees charged are $6.95 (Scottrade) and $0.00 (Lightspeed Trading). Contracts are pricier at Scottrade, costing $0.70 versus $0.60 at Lightspeed Trading, a difference of $0.10 per contract. It should be noted that not every broker uses a flat rate stock trade fee structure, so it is important to read the full commission notes (head over to any online brokerage review
page, then navigate to the "Commission Notes" section).
Alongside trade commissions, being able to trade the way you want is a must. Scottrade provides its clients with Stock Trading, Options Trading and Mutual Funds while Lightspeed Trading gives clients access to Stock Trading, Options Trading and Futures Trading. When it comes to mutual funds, Scottrade boasts an offering of 13599 compared to Lightspeed Trading's 0 available funds. Commission free ETFs can also be a nice plus, which is a wash in this comparison as both Lightspeed Trading and Scottrade offer 0 funds.
Last but not least, by breaking down important features that each broker offers, we can really help to separate the two brokers. Both Lightspeed Trading and Scottrade have virtual trading. For mobile trading, Scottrade gives clients access to an iPhone App, iPad App and Android App while Lightspeed Trading has an none of these. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Checking Accounts, Savings Accounts and Debit Cards are available to clients of Scottrade while Lightspeed Trading offers clients none of these. On the whole, when it comes to tools, research, and trading on the go, Neither Lightspeed Trading nor Scottrade were rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Scottrade boasts 4.00 stars versus Lightspeed Trading's 2.50 stars.