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 TD Ameritrade 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 $4.50 more than TD Ameritrade which charges customers $0 per trade. For options trading, both Lightspeed and TD Ameritrade charge the same base fee of $0. Each option contract then costs $0.65 at TD Ameritrade and $0.60 at Lightspeed. 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. TD Ameritrade offers clients Stock Trading, Options Trading, Mutual Funds, Forex Trading and Futures Trading while Lightspeed offers Stock Trading, Options Trading and Futures Trading. As far as mutual funds go, TD Ameritrade offers its clients access to 11949 different mutual funds while Lightspeed has 0 available funds, a difference of 11,949.
Finally, by comparing the each broker's website and platform features, we can surface interesting differences. Both Lightspeed and TD Ameritrade offer virtual trading. For mobile trading, Lightspeed and TD Ameritrade both have a iPhone App, iPad App and Android App. Online banking is also used by many customers, and multiple full-service brokerages provide these services. Checking Accounts, Debit Cards and Credit Cards are offered by TD Ameritrade while Lightspeed offers none of these.
Overall, between Lightspeed and TD Ameritrade, TD Ameritrade is the winner.
TD Ameritrade Review