The StockBrokers.com 2017 Brokerage Review assessed 16 different brokers over six months, surfacing the best online stock brokers
. This review compares Lightspeed Trading vs Ally Invest. Is Lightspeed Trading or Ally Invest a better online broker?
First, we will make a comparison of the stock and option trading fees for trading with both brokers. Ally Invest charges more than Lightspeed Trading for placing regular stock trades ($4.95 and $4.50, respectively). For options trading, Ally Invest has a base fee of $4.95, and Lightspeed Trading a base fee of $0. Each option contract then costs $0.65 at Ally Invest and $0.60 at Lightspeed Trading. Note that some brokers charge a per-share fee instead of a flat-fee commission. For a full breakdown of commissions, read our online broker reviews
For our next comparison of these two brokers, being able to trade the way you want is a must. Ally Invest supports Stock Trading, Options Trading, Mutual Funds, Forex Trading and Futures Trading while Lightspeed Trading supports Stock Trading, Options Trading and Futures Trading. When it comes to mutual funds, Ally Invest offers its clients access to 10138 different mutual funds while Lightspeed Trading has 0 available funds, a difference of 10,138. Commission free ETFs can also be a nice plus, which for investors means access to 0 commission free ETFs at both brokers.
Last but not least, by breaking down important features, tools, etc that each broker offers, we can really help to separate the two. Lightspeed Trading alongside Ally Invest offer virtual trading. For mobile trading, Ally Invest offer clients access to an iPhone App and Android App while Lightspeed Trading has an none of these. Furthermore, some investors like to bank online, and multiple brokerages provide these services to clients. Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are offered by Ally Invest while Lightspeed Trading offers none of these. On the whole, when it comes to tools, research, and mobile trading, neither Lightspeed Trading nor Ally Invest were rated Best in Class - Platforms & Tools, Best in Class - Research and Best in Class - Mobile Trading.
Overall, Ally Invest boasts 4.00 stars versus Lightspeed Trading's 2.50 stars.