Online brokerage services have existed for over 20 years. Trading investments today has never been cheaper. So while the race towards cheap trades (in some cases free) is happening, other functionality is becoming more important when selecting a stock broker.
For this review, I compare Lightspeed Trading and Interactive Brokers. Which one is better depends on your needs? So let's examine the major features first.
We've determined with online brokerages the most critical feature customers care about is the
cost per trade. The second most important feature is the minimum deposit, and the last is if the broker
offers mutual funds. Let's look at how Lightspeed Trading and Interactive Brokers
stack up against each other on these points.
To start, we will consider the minimum investment required for both applications. In
how much does one need to invest to use the service?
Both Lightspeed Trading and Interactive Brokers have the same minimum of $10,000. So they are equal in this requirement.
Next I'll consider cost per trade for both brokers.
Out of the two, Interactive Brokers is cheaper per trade at $0.01 than Lightspeed Trading at $2.50/trade.
When it comes to having support for mutual funds, there is a clear division between Lightspeed Trading and Interactive Brokers. Interactive Brokers does have support for mutual funds, while Lightspeed Trading does not.
Overall, Lightspeed Trading rates 7.5 out of 10, while Interactive Brokers ranks 8 out of 10. For more information on either, you can read our full reviews on Lightspeed Trading and Interactive Brokers.
|Review||Lightspeed Trading Review||Interactive Brokers Review|
Overall rating as by Investor Junkie.Rating
|Commissions & Fees|
|Ease of Use|
|Tools & Resources|
|Amount of Deals|
|Promotions||Get up to $10K Back in Trades||None|
|Stock Trades||$2.50/trade -$4.50/trade||$0.005/trade $1.00 minimum|
|Options Trades||$0.20/trade + -$0.60/trade||$0.70/trade + $1.00 minimum|
|Investment Types||Stocks, Penny Stocks, ETFs||Stocks, Penny Stocks, ETFs, Mutual Funds, Bonds, FOREX, Futures|
|Access||Website||Website, iOS App, Android App, Blackberry App|
|Broker Assisted Trade|
|No Fee ETFs|
Use promo code “10K2017” when signing up
About Lightspeed Trading
Many brokerage firms today are competing on price, and all seek to offer the widest range of features and data to lure in and keep valuable clients like you. Lightspeed Trading is different from the rest. It is all about keeping things simple and cheap. If you are a confident investor and want to save money with a bare-bones brokerage, read on to learn more about Lightspeed.
About Interactive Brokers
Interactive Brokers is perhaps one of the most comprehensive stock brokers for active and advanced traders. It offers professional customer service, and execution of trades is easy. However, for novice and less active investors, we recommend you look elsewhere.