Lightspeed Trading Review

3-star brokerage firm rating


Cheapest Brokerage Firm / Online Stock Broker 2014




Cheapest Online Broker Fees


RealTick PlatformPrice
RealTick plarform fee $250 per month
RealTick Express plarform fee $100 per month
Stocks and ETFs flat rate plan $9.99 per trade + exchange fees
Stocks and ETFs per-share plan $0.01 per share with $3 minimum per trade
Options $0.60 per contract, $3 min commission charge
Futures $0.60 per contract, $3 min commission charge

Trader PlatformPrice
Stocks and ETFs flat rate plan $4.50 per trade + or minus routing fees
Stocks and ETFs per-share plan $0.0045 per share with $1 minimum per trade + or minus routing fees
Options $0.60 per contract, routing fees may apply
Futures $0.60 per contract, + exchange fees

WebTrader PlatformPrice
Stocks and ETFs flat rate plan $3 per trade, max order size 50,000 shares
Options $0.60 per contract, $3 min commission charge

Investments stocks, options, mutual funds, bonds, futures, ETFs
Lightspeed Trading minimum deposit to open account $5,000, $10,000 and $25,000 for Web Trader, RealTick and Trader plans respectively
FeesLightspeed Trading fees


Cheapest Online Broker Pros


  • Low trading commissions with Trader platform
  • Direct access to ECN’s and exchanges
  • Free practice account
  • Online user community
  • Automated trading


Cheapest Online Broker Cons


  • Multiple platforms with complicated fee structure
  • Minimum monthly commission for accounts under $5,000 is $25
  • Mutual funds are not offered
  • $25,000 minimum to use Trader, $10,000 minimum to use RealTick, and $5,000 minimum to use Web Trader are high
  • $30 annual IRA fee
  • Web Trader platform is badly designed, is 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 is spotty
  • Few investment products
  • Not available on mobile devices


Cheapest Brokerage Firm Review


Lightspeed Trading provides direct access to ECN’s and exchanges which is a must for active traders. The company offers the cheapest trading commissions - with Trader platform it's just $0.0045 per share, and any order of up to 200 shares will cost $1 or less (orders with up to 500 shares are $2.25 or less). Options commission is $0.60 per contract with no order charges.

Lightspeed Trading’s margin rates are not the best in the industry. Currently if a trader borrows over $1 million, the margin rate is 3.5%. The highest margin rate is 6% to borrow up to $49,999. The margin rates incrementally decrease from 6% to 3.5% depending on the amount the investor borrows over $50,000.

In spring of 2013 the company introduced a $25 per month Minimum Commission Fee for accounts with balances of less than $5,000. Of course, it makes Lighspeed way too expensive for investors with small accounts. The company also does not offer investing in mutual funds. But for day-traders Lightspeed online brokerage offers the least expensive fees and commissions.

Read full Lightspeed review and Best self-directed investment firms articles.


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Lightspeed Trading Review

This article was updated on 2/1/2014.



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