The StockBrokers.com annual broker review assesses more than a dozen 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. Lightspeed Trading's per contract rate of $0.60 is less than Ally Invest which charges $0.65. 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 offers clients Stock Trading, Options Trading, Mutual Funds, Forex Trading and Futures Trading while Lightspeed Trading offers Stock Trading, Options Trading and Futures Trading. When it comes to mutual funds, Lightspeed Trading trails Ally Invest by 10,264 total mutual funds, with Ally Invest offering 10264 and Lightspeed Trading offering 0. 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 offers virtual trading while Ally Invest does not. For mobile trading, Lightspeed Trading along with Ally Invest both support the iPhone App, iPad App and Android App. 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 available to clients of Ally Invest while Lightspeed Trading offers customers 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.