Comparing brokers side by side is no easy task. For our 2017 Broker Review
, we factored in 308 different variables to assess 16 different brokers. So when taking a look at Lightspeed Trading vs TradeStation Securities, there is a huge database of information available to us.
To start this comparison, first we will take a look at the broker commission rates for placing regular stock and options trades. TradeStation Securities, with its regular stock trades costing $5.00, is more expensive than Lightspeed Trading's rate of $4.50 per trade. Looking at trading options, Lightspeed Trading's base fee is $0 while TradeStation Securities's is $5. Each contract then costs $0.60 at Lightspeed Trading and $0.50 at TradeStation Securities for a difference in price of $0.10 per contract. Not all brokers charge a flat rate fee per trade though, so it is important to read the full commission notes to know the complete breakdown (go to any online broker review
page, then scroll to the "Commissions Notes" section).
Next to commission rates, being able to trade the instrument you want is important. TradeStation Securities provides its clients with Stock Trading, Options Trading, Mutual Funds and Futures Trading while Lightspeed Trading gives clients access to Stock Trading, Options Trading and Futures Trading. Looking at mutual funds, TradeStation Securities boasts an offering of 4854 compared to Lightspeed Trading's 0 available funds. Commission free ETFs also should not be forgotten, which in this case means trading a possible 0 funds at both brokers.
Lastly, taking a look at popular features and functionality, we can go a bit deeper to really break down the difference of both brokers. Lightspeed Trading alongside TradeStation Securities have virtual trading. Taking a look at mobile trading, TradeStation Securities supports the iPhone App, iPad App and Android App while Lightspeed Trading supports the none of these. Not to be left out, online banking is also a nice benefit for many investors, and some brokerages provide these services to clients. Banking is not popular with Lightspeed Trading and TradeStation Securities as Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are all unavailable. On the whole, when it comes to tools, research, and trading on the go, TradeStation Securities was rated for Best in Class - Platforms & Tools in 2014, while Lightspeed Trading was rated for none of these.
Overall, TradeStation Securities boasts 3.50 stars versus Lightspeed Trading's 2.50 stars.