Comparing brokers side by side is no easy task. For our 2017 Broker Review, we assessed 16 brokers on 308 different variables to find the best online broker
. Yielding a database of over 5,000 data points, let's compare Lightspeed Trading vs TradeStation Securities.
To start this comparison, first, we will take a look at the online broker commission rates for placing regular stock and options trades. TradeStation Securities charges more than Lightspeed Trading for placing regular stock trades ($5.00 and $4.50, respectively). Looking at trading options, Lightspeed Trading's base fee is $0 while TradeStation Securities's is $5. Each option contract then costs $0.60 at Lightspeed Trading and $0.50 at TradeStation Securities. 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 Securities provides its clients with Stock Trading, Options Trading, Mutual Funds and Futures Trading while Lightspeed Trading provides clients access to Stock Trading, Options Trading and Futures Trading. Looking at mutual funds, TradeStation Securities offers its clients access to 4854 different mutual funds while Lightspeed Trading has 0 available funds, a difference of 4,854. Commission free ETFs can also be valuable for customers, which for investors means access to 0 commission free ETFs at both brokers.
Trading access aside, by comparing popular features and functionality, we can break down relevant differences between both brokers. Lightspeed Trading and TradeStation Securities both offer virtual trading. Taking a look at mobile trading, TradeStation Securities offer clients access to an iPhone App, iPad App and Android App while Lightspeed Trading has an 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. Unfortunately, Checking Accounts, Savings Accounts, Debit Cards, Credit Cards and Mortgage Loans are not available at Lightspeed Trading or TradeStation Securities . On the whole, when it comes to tools, research, and mobile trading, TradeStation Securities was rated Best in Class - Platforms & Tools in 2017, while Lightspeed Trading was rated none of these.
Overall, TradeStation Securities comes out on top with 3.50 stars over Lightspeed Trading's 2.50 stars.