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Lightspeed vs SpeedTrader 2019

Is SpeedTrader better than Lightspeed? After scoring brokers in nine separate categories for our 2019 review, Lightspeed (51.8%) is better than SpeedTrader (51.25%).

Lightspeed

2.5 Stars Overall
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. Read full review.

SpeedTrader

DasTrader Pro Broker
SpeedTrader, a division of Mint Global Markets, has been serving active traders for 20 years. As a Das Trader Pro exclusive firm, SpeedTrader caters solely to hyperactive and professional traders and offers discounted commissions; however, pricing plans are complicated. Read full review.

Overall Rating

Feature Lightspeed SpeedTrader
Overall 2.5 2.5
Lightspeed Review SpeedTrader Review

Trading Fees

Feature Lightspeed SpeedTrader
Minimum Deposit $10,000.00 $30,000.00
Stock Trade Fee (per trade) $4.50 $4.49
ETF Trade Fee $4.50 $4.49
Options Base Fee $0.00 N/A
Options Per Contract Fee $0.60 $0.00
Mutual Fund Trade Fee N/A $50.00
Broker Assisted Trades Fee $25.00 $30.00
Commissions & Fees 3 4
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Margin Rates

Feature Lightspeed SpeedTrader
Under $24,999.99 8.50% 6.00%
$25,000.00 to $49,999.99 8.50% 6.00%
$50,000.00 to $99,999.99 7.50% 6.00%
$100,000.00 to $249,999.99 7.50% 6.00%
$250,000.00 to $499,999.99 6.75% 6.00%
$500,000.00 to $999,999.99 6.25% 6.00%
Above $1,000,000.00 6.00% 6.00%
Commissions & Fees 3 4
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Account Fees

Feature Lightspeed SpeedTrader
IRA Annual Fee $35.00 N/A
IRA Closure Fee $95.00 N/A
Returned ACH Fee $30.00 $40.00
Returned Wire Fee $30.00 $40.00
Stock Certificate Processing Fee $75.00 N/A
Stock Certificate Delivery Fee $50.00 N/A
Paper Statement Fee $5.00 $10.00
Paper Confirmation Fee $2.00 $4.00
Domestic Wire Fee $20.00 $25.00
International Wire Fee $50.00 $75.00
Commissions & Fees 3 4

Investment Options

Feature Lightspeed SpeedTrader
Stock Trading
Yes Yes
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 4
Futures Trading
Yes No
Forex Trading
No No
Commission-Free ETFs 0 0
Mutual Funds (No Load)
0 0
Mutual Funds (Total)
0 0
Bonds (US Treasury)
Yes No
Bonds (Corporate)
No No
Bonds (Municipal)
No No
Advisor Services
No No
International Trading
No No
Offering of Investments 3 2.5
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Order Types

Feature Lightspeed SpeedTrader
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 Yes
Order Type - OTO
Yes No
Order Type - OTOCO
Yes No
Offering of Investments 3 2.5
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Trading Platforms

Feature Lightspeed SpeedTrader
Desktop Platform (Windows)
Yes Yes
Desktop Platform (Mac)
Yes No
Web Platform
Yes Yes
Paper Trading
Yes Yes
Trade Journal
No No
Watch Lists - Total Fields
141 30
Heat Mapping
No No
Platforms & Tools 3 3
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Charting Features

Feature Lightspeed SpeedTrader
Charting - Trade Off Chart
Yes Yes
Charting - Indicators / Studies
20 36
Charting - Drawing Tools
8 9
Charting - Historical Trades
Yes No
Charting - Corporate Events
No No
Charting - Automated Analysis
No No
Charting - Save Profiles
Yes Yes
Charting - Study Customizations
4 8
Charting - Custom Studies
No No
Platforms & Tools 3 3
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Day Trading

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

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

Feature Lightspeed SpeedTrader
Watch List Syncing
No No
Stock Alerts
No No
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 1.5 2.5
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Research Overview

Feature Lightspeed SpeedTrader
Research - Stocks
Yes Yes
Research - ETFs
No No
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 No
Research 1 1
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Stock Research

Feature Lightspeed SpeedTrader
Stock Research - Reports
0 0
Stock Research - Earnings
No No
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 Yes
Stock Research - Cash Flows
No No
Stock Research - News
Yes Yes
Stock Research - ESG
No No
Research 1 1
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ETF Research

Feature Lightspeed SpeedTrader
ETFs - Strategy Overview
No No
ETFs - Top 10 Holdings
No No
ETFs - Sector Exposure
No No
ETFs - Risk Analysis
No No
ETFs - Performance Analysis
No No
ETFs - Ratings
No No
ETFs - Morningstar StyleMap
No No
ETFs - Reports
No No
Research 1 1
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Mutual Fund Research

Feature Lightspeed SpeedTrader
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 1 1
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Options Trading

Feature Lightspeed SpeedTrader
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
60 17
Option Chains - Greeks
5 0
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 No
Option Positions - Adv Analysis
No No
Option Positions - Rolling
Yes No
Option Positions - Grouping
Yes No
Platforms & Tools 3 3
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Beginners

Feature Lightspeed SpeedTrader
Has Education - Stocks
Yes Yes
Has Education - ETFs
No No
Has Education - Options
Yes No
Has Education - Mutual Funds
No No
Has Education - Fixed Income
No No
Has Education - Retirement
No No
Paper Trading
Yes Yes
Videos
Yes No
Webinars (Monthly Avg)
1 1
Webinars (Archived)
Yes Yes
Live Seminars
No No
Progress Tracking
No No
Interactive Learning - Quizzes
No No
Investor Magazine
No No
Education 2.5 1
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Banking

Feature Lightspeed SpeedTrader
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
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Overall

Feature Lightspeed SpeedTrader
Lightspeed Review SpeedTrader Review
Overall 2.5 2.5
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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 SpeedTrader 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 $0.01 more than SpeedTrader which charges customers $4.49 per trade. For options trading, both Lightspeed and SpeedTrader charge the same base fee of $0. Option contracts are pricier at Lightspeed, costing $0.60 versus $0 at SpeedTrader. 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. SpeedTrader supports Stock Trading and Options Trading while Lightspeed supports Stock Trading, Options Trading and Futures Trading. As far as mutual funds go, both brokers offer the same number of mutual funds, 0.

Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Lightspeed and SpeedTrader both offer virtual trading. For mobile trading, SpeedTrader offers the iPhone App and Android App while Lightspeed offers the iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Banking is not popular with Lightspeed and SpeedTrader as Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are all unavailable.

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

Lightspeed Review
SpeedTrader 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.

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