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Lightspeed vs SpeedTrader 2019

StockBrokers.com | November 15th, 2019

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  3. Lightspeed vs SpeedTrader Review

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
Winner check_circle

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
Winner check_circle

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
Winner check_circle

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
Winner check_circle

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
Winner check_circle

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
Winner check_circle

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
Winner check_circle

Overall

Feature Lightspeed SpeedTrader
Lightspeed Review SpeedTrader Review
Overall 2.5 2.5
Winner check_circle

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

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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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