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SpeedTrader vs Lightspeed 2019

Blain Reinkensmeyer

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 SpeedTrader? After scoring brokers on over 4,000 data points for our 2019 review, Lightspeed (51.8%) is better than SpeedTrader (51.25%). Lightspeed caters to one type of investor, the active trader, and provides the functionality required to succeed.

Overall Rating

Feature SpeedTrader Lightspeed
Overall 2.5 2.5
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
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
IRA Annual Fee N/A $35.00
IRA Closure Fee N/A $95.00
Commissions & Fees 4 3
Winner check_circle

Margin Rates

Feature SpeedTrader Lightspeed
Under $24,999.99 6.00% 8.50%
$25,000.00 to $49,999.99 6.00% 8.50%
$50,000.00 to $99,999.99 6.00% 7.50%
$100,000.00 to $249,999.99 6.00% 7.50%
$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 4 3
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Trading Platforms

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

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

Feature SpeedTrader Lightspeed
Stock Alerts - Basic Fields
Yes Yes
Stock Alerts - Advanced Fields
Yes No
Streaming Time & Sales
Yes Yes
Streaming TV
No No
Direct Market Routing - Stocks
Yes Yes
Direct Market Routing - Options
Yes Yes
Ladder Trading
Yes No
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
Client Liquidity Rebates
No Yes
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Mobile Trading

Feature SpeedTrader Lightspeed
iPhone App
Yes Yes
Android App
Yes Yes
Apple Watch App
No No
Trading - Stocks
Yes Yes
Trading - After-Hours
Yes No
Trading - Conditional Orders
No No
Trading - Mutual Funds
No No
Trading - Simple Options
Yes No
Trading - Complex Options
No No
Trading - Option Rolling
No No
Touch / Face ID
No No
Watch List Syncing
No No
Stock Alerts - Basic Fields
No No
Stock Alerts - Advanced Fields
No No
Charting - After Hours
Yes No
Charting - Drawing
No No
Charting - Study Customizations
No No
Customizable Homescreen
No No
Heatmapping
No No
Stream Live TV
No No
Barcode Lookup
No No
Mobile Trading 2.5 1.5
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Research Overview

Feature SpeedTrader Lightspeed
Research - Stocks
Yes Yes
Research - ETFs
No No
Research - Mutual Funds
No No
Research - Pink Sheets / OTCBB
No No
Research - Fixed Income
No No
Research - Futures
No No
Research - Forex
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
No No
Research 1 1
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Stock Research

Feature SpeedTrader Lightspeed
Stock Research - Reports
0 0
Stock Research - Earnings
No No
Stock Research - Insiders
No Yes
Stock Research - Metric Comp
No No
Stock Research - SEC Filings
No No
Stock Research - Social
No Yes
Stock Research - Balance Sheet
Yes No
Stock Research - Cash Flows
No No
Stock Research - News
Yes Yes
Stock Research - ESG
No No
Research 1 1
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Fund Research

Feature SpeedTrader Lightspeed
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
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 SpeedTrader Lightspeed
Option Chains - Streaming
Yes Yes
Option Chains - Total Columns
17 60
Option Chains - Greeks
0 5
Option Chains - Quick Analysis
No Yes
Option Analysis - P&L Charts
No Yes
Option Probability Analysis
No No
Option Probability Analysis Adv
No No
Option Positions - Greeks
No Yes
Option Positions - Adv Analysis
No No
Option Positions - Rolling
No Yes
Option Positions - Grouping
No Yes
Platforms & Tools 3 3
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Investments

Feature SpeedTrader Lightspeed
Stock Trading
Yes Yes
OTCBB / Pink Sheets
Yes Yes
Options Trading
Yes Yes
Complex Options Max Legs
4 6
Futures Trading
No Yes
Forex Trading
No No
Commission-Free ETFs 0 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
Offering of Investments 2.5 3
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Order Types

Feature SpeedTrader Lightspeed
Order Type - Market
Yes Yes
Order Type - Limit
Yes Yes
Order Type - Stop
Yes Yes
Order Type - Trailing Stop
Yes Yes
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 2.5 3
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Beginners

Feature SpeedTrader Lightspeed
Has Education - Stocks
Yes Yes
Has Education - ETFs
No No
Has Education - Options
No Yes
Has Education - Mutual Funds
No No
Has Education - Fixed Income
No No
Has Education - Retirement
No No
Paper Trading
Yes Yes
Videos
No Yes
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 1 2.5
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Banking

Feature SpeedTrader Lightspeed
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
Winner check_circle

Overall

Feature SpeedTrader Lightspeed
SpeedTrader Review Lightspeed Review
Overall 2.5 2.5
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, with its regular stock trades costing $4.50, is more expensive than SpeedTrader's rate of $4.49 per trade. Looking at options, the base fees charged are the same for both brokers, $0. Option contracts are pricier at Lightspeed, costing $0.60 versus $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 clients access to 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 and SpeedTrader both offer virtual trading. Taking a look at mobile trading, SpeedTrader supports the iPhone App and Android App while Lightspeed supports the 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. Unfortunately, Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are not available at Lightspeed or SpeedTrader .

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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