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. TradeStation charges more than Lightspeed for placing regular stock trades ($5.00 and $4.50, respectively). Looking at trading options, Lightspeed's base fee is $0 while TradeStation's is $5. Each option contract then costs $0.60 at Lightspeed and $0.50 at TradeStation. 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 offers its clients access to 4357 different mutual funds while Lightspeed has 0 available funds, a difference of 4,357.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Lightspeed alongside TradeStation offer virtual trading. Taking a look at mobile trading, Lightspeed along with TradeStation both support the 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. Banking is not popular with Lightspeed and TradeStation as Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are all unavailable.
Overall, between Lightspeed and TradeStation, TradeStation is the winner