Is Lightspeed better than SpeedTrader? After testing 15 of the best online brokers over five months, Lightspeed (61.30%) is better than SpeedTrader (51.25%). 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.
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SpeedTrader vs Lightspeed 2020
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Overall Rating
| Feature | SpeedTrader | Lightspeed |
| Overall | ||
| SpeedTrader Review | Lightspeed Review |
Trading Fees
| Feature | SpeedTrader | Lightspeed |
| Minimum Deposit | $30,000.00 | $10,000.00 |
| Stock Trade Fee (per trade) | $4.49 | $4.50 |
| ETF Trade Fee | $4.49 | $4.50 |
| Options Base Fee | N/A | $0.00 |
| Options Per Contract Fee | $0.00 | $0.60 |
| Mutual Fund Trade Fee | $50.00 | N/A |
| Broker Assisted Trades Fee | $30.00 | $25.00 |
| Commissions & Fees | ||
| Winner | check_circle |
Margin Rates
| Feature | SpeedTrader | Lightspeed |
| Under $24,999.99 | 6.00% | 8.00% |
| $25,000.00 to $49,999.99 | 6.00% | 8.00% |
| $50,000.00 to $99,999.99 | 6.00% | 7.00% |
| $100,000.00 to $249,999.99 | 6.00% | 7.00% |
| $250,000.00 to $499,999.99 | 6.00% | 6.75% |
| $500,000.00 to $999,999.99 | 6.00% | 6.25% |
| Above $1,000,000.00 | 6.00% | 6.00% |
| Commissions & Fees | ||
| Winner | check_circle |
Account Fees
| Feature | SpeedTrader | Lightspeed |
| IRA Annual Fee | N/A | $35.00 |
| IRA Closure Fee | N/A | $95.00 |
| Returned ACH Fee | $40.00 | $30.00 |
| Returned Wire Fee | $40.00 | $30.00 |
| Stock Certificate Processing Fee | N/A | $75.00 |
| Stock Certificate Delivery Fee | N/A | $50.00 |
| Paper Statement Fee | $10.00 | $5.00 |
| Paper Confirmation Fee | $4.00 | $2.00 |
| Domestic Wire Fee | $25.00 | $20.00 |
| International Wire Fee | $75.00 | $50.00 |
| Commissions & Fees |
Investment Options
| Feature | SpeedTrader | Lightspeed |
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Stock Trading |
Yes | Yes |
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Fractional Shares |
No | No |
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OTCBB / Pink Sheets |
Yes | Yes |
|
Options Trading |
Yes | Yes |
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Complex Options Max Legs |
4 | 4 |
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Futures Trading |
No | Yes |
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Forex Trading |
No | No |
| Commission-Free ETFs | 0 | 0 |
|
Mutual Funds (No Load) |
0 | 0 |
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Mutual Funds (Total) |
0 | 0 |
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Bonds (US Treasury) |
No | Yes |
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Bonds (Corporate) |
No | No |
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Bonds (Municipal) |
No | No |
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Interest Sharing |
No | No |
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Advisor Services |
No | No |
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International Trading |
No | No |
| Offering of Investments | ||
| Winner | check_circle |
Order Types
| Feature | SpeedTrader | Lightspeed |
|
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 | Yes |
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Order Type - Contingent |
No | Yes |
|
Order Type - MultiContingent |
No | Yes |
|
Order Type - OCO |
Yes | Yes |
|
Order Type - OTO |
No | Yes |
|
Order Type - OTOCO |
No | Yes |
| Offering of Investments | ||
| Winner | check_circle |
Trading Platforms
| Feature | SpeedTrader | Lightspeed |
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Desktop Platform (Windows) |
Yes | Yes |
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Desktop Platform (Mac) |
No | Yes |
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Web Platform |
Yes | Yes |
|
Paper Trading |
Yes | Yes |
|
Trade Journal |
No | No |
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Watch Lists - Total Fields |
30 | 141 |
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Heat Mapping |
No | No |
|
AI Assistant Bot |
No | No |
| Platforms & Tools | ||
| Winner | check_circle |
Charting Features
| Feature | SpeedTrader | Lightspeed |
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Charting - Trade Off Chart |
Yes | Yes |
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Charting - Indicators / Studies |
36 | 20 |
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Charting - Drawing Tools |
9 | 8 |
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Charting - Historical Trades |
No | Yes |
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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 | Yes |
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Charting - Study Customizations |
8 | 4 |
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Charting - Custom Studies |
No | No |
| Platforms & Tools | ||
| Winner | check_circle |
Day Trading
| Feature | SpeedTrader | Lightspeed |
|
Stock Alerts - Basic Fields |
Yes | Yes |
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Stock Alerts - Advanced Fields |
Yes | No |
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Streaming Time & Sales |
Yes | Yes |
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Streaming TV |
No | No |
|
Direct Market Routing - Stocks |
Yes | Yes |
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Direct Market Routing - Options |
Yes | Yes |
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Ladder Trading |
Yes | No |
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Trade Hot Keys |
Yes | Yes |
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Level 2 Quotes - Stocks |
Yes | Yes |
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Level 2 Quotes - Options |
Yes | Yes |
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Trade Ideas - Backtesting |
No | No |
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Short Locator |
Yes | Yes |
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Order Liquidity Rebates |
No | Yes |
| Winner | check_circle |
Mobile Trading Apps
| Feature | SpeedTrader | Lightspeed |
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iPhone App |
Yes | Yes |
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Android App |
Yes | Yes |
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Apple Watch App |
No | No |
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Trading - Stocks |
Yes | Yes |
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Trading - After-Hours |
Yes | No |
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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 |
Yes | 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 | No |
| Winner | check_circle |
Mobile App Features
| Feature | SpeedTrader | Lightspeed |
|
Watch List Syncing |
No | No |
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Stock Alerts |
No | Yes |
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Charting - After Hours |
Yes | No |
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Charting - Drawing |
No | No |
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Charting - Study Customizations |
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 | SpeedTrader | Lightspeed |
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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 |
No | Yes |
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Screener - ETFs |
No | No |
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Screener - Mutual Funds |
No | No |
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Screener - Options |
No | No |
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Screener - Bonds |
No | No |
|
Misc - Portfolio Builder |
No | No |
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Misc - Portfolio Allocation |
No | No |
| Research | ||
| Winner | check_circle |
Stock Research
| Feature | SpeedTrader | Lightspeed |
|
Stock Research - Reports |
0 | 0 |
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Stock Research - Earnings |
No | No |
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Stock Research - Insiders |
No | Yes |
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Stock Research - Metric Comp |
No | No |
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Stock Research - SEC Filings |
No | No |
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Stock Research - Social |
No | Yes |
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Stock Research - Balance Sheet |
Yes | 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 | SpeedTrader | Lightspeed |
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ETFs - Strategy Overview |
No | No |
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ETFs - Top 10 Holdings |
No | No |
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ETFs - Sector Exposure |
No | No |
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ETFs - Risk Analysis |
No | No |
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ETFs - Performance Analysis |
No | No |
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ETFs - Ratings |
No | No |
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ETFs - Morningstar StyleMap |
No | No |
|
ETFs - Reports |
No | No |
| Research | ||
| Winner | check_circle |
Mutual Fund Research
| Feature | SpeedTrader | Lightspeed |
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Mutual Funds - Strategy Overview |
No | No |
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Mutual Funds - Prospectus |
No | No |
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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 |
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Mutual Funds - Country Allocation |
No | No |
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Mutual Funds - StyleMap |
No | No |
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Mutual Funds - 3rd Party Ratings |
No | No |
| Research | ||
| Winner | check_circle |
Options Trading
| Feature | SpeedTrader | Lightspeed |
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Option Chains - Streaming |
Yes | Yes |
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Option Chains - Total Columns |
17 | 60 |
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Option Chains - Greeks |
0 | 5 |
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Option Chains - Quick Analysis |
No | Yes |
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Option Analysis - P&L Charts |
No | Yes |
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Option Probability Analysis |
No | No |
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Option Probability Analysis Adv |
No | No |
|
Option Positions - Greeks |
No | Yes |
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Option Positions - Adv Analysis |
No | No |
|
Option Positions - Rolling |
No | Yes |
|
Option Positions - Grouping |
No | Yes |
| Platforms & Tools | ||
| Winner | check_circle |
Beginners
| Feature | SpeedTrader | Lightspeed |
|
Education (Stocks) |
Yes | Yes |
|
Education (ETFs) |
No | No |
|
Education (Options) |
No | Yes |
|
Education (Mutual Funds) |
No | No |
|
Education (Fixed Income) |
No | No |
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Education (Retirement) |
No | No |
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Paper Trading |
Yes | Yes |
|
Videos |
No | Yes |
|
Webinars (Monthly Avg) |
1 | 1 |
|
Webinars (Archived) |
Yes | Yes |
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Live Seminars |
No | No |
|
Progress Tracking |
No | No |
|
Interactive Learning - Quizzes |
No | No |
|
Investor Magazine |
No | No |
| Education | ||
| Winner | check_circle |
Banking
| Feature | SpeedTrader | Lightspeed |
|
Retail Locations |
0 | 0 |
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Member FDIC |
No | No |
|
Checking Accounts |
No | No |
|
Savings Accounts |
No | No |
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Credit Cards |
No | No |
|
Debit Cards |
No | No |
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Mortgage Loans |
No | No |
|
No Fee Banking |
No | No |
| Banking |
Overall
| Feature | SpeedTrader | Lightspeed |
| SpeedTrader Review | Lightspeed Review | |
| Overall | ||
| Winner | check_circle |
Comparing brokers side by side is no easy task. For our annual broker review, we assess over a dozen brokers on hundreds of different variables to find the best online broker. Yielding a database of over 4,000 data points, let's compare Lightspeed vs SpeedTrader.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. Lightspeed charges more than SpeedTrader for placing regular stock trades ($4.50 and $4.49, respectively). For options trading, both Lightspeed and SpeedTrader charge the same base fee of $0. Each option contract then costs $0.60 at Lightspeed and $0 at SpeedTrader. It's important to note that not all brokers charge a flat fee per trade. Thus, it is important to read the full commission notes for each broker, which we include with each online broker review.
Next to commission rates, being able to trade what you want is important. SpeedTrader provides its clients with Stock Trading and Options Trading while Lightspeed provides clients access to Stock Trading, Options Trading and Futures Trading. Looking at mutual funds, both brokers offer the same number of mutual funds, 0.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Lightspeed alongside SpeedTrader offer virtual trading. Taking a look at mobile trading, SpeedTrader offer clients access to an iPhone App and Android App while Lightspeed has an iPhone App, iPad App and Android App. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Neither Lightspeed nor SpeedTrader offers Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans.
Overall, between Lightspeed and SpeedTrader, Lightspeed is the winner.
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.
