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LightSpeed Trading vs OptionsXpress
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- Stocks and ETFs: $8.95
- Options (active traders): $12.95 for up to 10 contracts, $1.25/contract for over 10 contracts
- Options (non-active traders): $14.95 for up to 10 contracts, $1.50/contract for over 10 contracts
- Mutual Funds: $9.95
- Bonds: $5 per bond, $9.95 minimum
- Futures: 1-40 contracts $6.99; 41-100 contracts $5.99; 101-300 contracts $4.99; 301-1,000 contracts $3.99; 1,001 + contracts $2.99
- Options on Futures: 1-40 contracts $12.99; 41-100 contracts $8.99; 101-300 contracts $7.99; 301-1,000 contracts $6.99; 1,001 + contracts $5.99
- Covered Calls: $22.90 up to 10 contracts
- Penny Options: 1-10 contracts $4.95 flat; 10 + $0.50/contract
- Spreads, Straddles & Combos: 2-10 contracts - $12.95 Flat (active traders) $14.95 Flat (non-active traders); 10 + contracts - $1.25/contract (active traders); $1.50/contract (non-active traders)
- Investments: stocks, options, mutual funds, bonds, futures, options on futures, covered calls, ETFs
- Minimum to open OptionXpress account: $0 for cash account, $2,000 for margin account
- All OptionXpress fees
- OptionXpress login, OptionXpress promotional code
and OptionsXpress referral code
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- Stocks and ETFs: $4.50 per order, plus/minus Market Center Fees
- or $0.0045 per share, plus/minus Market Center Fees, $1 minimum per trade
- OTCBB and Pink Sheets: $10 per order, plus/minus Market Center Fees
- Options: $0.60 per contract, no minimum/no order charges
- Futures: $0.60 per contract, no minimum/no order charges plus exchange fees
- Investment products: stocks, options, mutual funds, bonds, futures, ETFs
- Minimum to open Lightspeed Trading account: $1,000 for Web Trader platform, $10,000 for Lightspeed Trader platform
- All Lightspeed Trading fees
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- Best customer service
- Many well-designed trading tools and cutting-edge trading technology
- Free streaming quotes
- $100 bonus for opening new account
- No fee IRA accounts
- Great research
- Free paper trading
- No money down to open new account
- Free account transfers
- Free instructor lead online classes
- Free broker-assisted trading
- Free dividend reinvestment (contact customer service)
- No platform fees
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- Some of the lowest commissions in the industry
- Direct access to ECN’s and exchanges
- Free practice account
- Online community
- Automated trading
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- Higher than average commissions on stocks and ETFs
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- $10,000 minimum to use Lightspeed Trader (but only $1,000 to use Lightspeed Web Trader)
- $35 annual IRA fee
- Account opening needs work
- Web Trader platform is badly designed, full of bugs and it could take a lot of time to enter the order
- Extended hours trading is not available on the Web Trader platform
- Customer service needs improvement
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LightSpeed Trading vs OptionsXpress: Comparison Summary
OptionsXpress and LightSpeed Trading are two very different
brokerage companies. The former is targeting buy-and-hold,
options traders and beginner investors. The latter is focused only on very active traders, hedge funds and daytraders.
LightSpeed Trading (LightSpeed Trading Review)
offers much better commissions on stocks and ETFs:
$0.0045 per share versus $8.95 per trade at
OptionsXpress (OptionsXpress Review).
Both companies don't have surcharges on extended hours trading and penny stocks.
OptionsXpress easily beats LightSpeed Trading in quality of customer service, ease of use of trading tools and research amenities.
The firm is much friendlier and offers more services to beginner and buy-and-hold investors.
It also provides free virtual trading environment which is great for beginners who need to improve their skills as well as for
more advanced investors who want to test new strategies without a risk.
Unlike LightSpeed Trading, OptionsXpress has no annual IRA fees. We rated the firm
Best IRA Company in 2012.
We strongly recommend OptionsXpress to all customers, especially buy-and-hold and beginner investors as well as for IRA accounts.
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