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 TradeStation.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. Lightspeed charges $4.50 per stock trade which is $4.50 more than TradeStation which charges customers $0 per trade. For options trading, both Lightspeed and TradeStation charge the same base fee of $0. TradeStation's per contract rate of $0.50 is less than Lightspeed which charges $0.60. 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. TradeStation provides its clients with Stock Trading, Options Trading, Mutual Funds and Futures Trading while Lightspeed provides clients access to Stock Trading, Options Trading and Futures Trading. Looking at mutual funds, TradeStation boasts an offering of 4357 mutual funds compared to Lightspeed's 0 available funds.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Both Lightspeed and TradeStation offer virtual trading. Taking a look at mobile trading, Lightspeed and TradeStation both have a 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 TradeStation .
Overall, between Lightspeed and TradeStation, TradeStation is the winner.