What you need to know For day traders, immediate phone assistance is available during market hours. Customers will find basic watch lists with real-time streaming, simple quotes with charts, and order entry. About Our Broker Review Methodology. In summary, if you are an experienced, active trader, Lightspeed may be perfect for you. The loaded security in the trade tool automatically updates the option spreads and charts at the bottom of the window. One final note, for less active investors who are looking for something more basic and less expensive , Lightspeed Web Trader browser-based is a good solution. But those who are looking for top-tier executions, low prices, and speed, will find themselves right at home.
Lightspeed Trader is our flagship trading platform and one of the best trading software platforms available on the market. It continues to be developed in direct response to .
Lightspeed Trading Competitors
While not the prettiest platform it certainly would place last in any beauty pageant , the platform serves its purpose. Although the learning curve is not too rough, ample trading experience is required to take advantage of all the order routing capabilities. Hotkeys are customizable down to order size, type, and routing instructions. Even the data is fed directly into the platform from the exchanges, showing that truly every millisecond matters to the broker and its customers.
Beyond placing lightning-fast trades, however, the platform has little to offer. I found the charting to be just okay, and the analytical tools were certainly lacking. Even with Lightscan, though, users of industry-leading TD Ameritrade's thinkorswim platform or TradeStation will feel as if they are back in the Stone Age.
In the world of hyperactive trading, every penny and second matters, and not having clean fills each time is unacceptable. Lightspeed understands who their customers are and cater accordingly. One final note, for less active investors who are looking for something more basic and less expensive , Lightspeed Web Trader browser-based is a good solution.
Web Trader offers the same look and feel as Lightspeed Trader; however, the platform lacks advanced functionality such as hotkeys, level 2 quotes, basket order entry, direct market access, and there is no access to TipRanks research. It is vital to understand that the Lightspeed Trading mobile app connects to Lightspeed Web Trader accounts, not flagship Lightspeed Trader platform accounts.
After multiple years of not offering any mobile apps for customers, in February Lightspeed finally released Lightspeed Trading, available for both iOS and Android. First, it is vital to understand that the Lightspeed Trading mobile app connects to Lightspeed Web Trader accounts, not flagship Lightspeed Trader platform accounts. While access for Lightspeed Trader customers is due sometime in , it's not here yet, which is a drawback for this segment of Lightspeed's customers.
Accessibility aside, the app focuses solely on the essential functionality required to trade. Customers will find basic watch lists with real-time streaming, simple quotes with charts, and order entry. While it's great to see Lightspeed finally enter the mobile arena and provide the basics to trade stocks, the app still needs plenty of enhancements if it wants to compete with industry leaders. In fact, during our testing, we struggled to even get quote data to stream through the app.
Per-share trade discounts start at , shares traded per month, and per-trade discounts start at trades per month. To receive the discounts, you will need to contact Lightspeed and request them. That seems fair but is more than you would pay at select online brokers. Discounts kick in starting at contracts per month for higher-volume traders. However, for a very high-volume investor, the fees drop dramatically as you scale up in volume. While it does not have a full suite of investment options that you might find at large discount brokers, it does offer specialized trading software perfect for active investors and those with very large portfolios.
In summary, if you are an experienced, active trader, Lightspeed may be perfect for you. Lightspeed Trading Reviewed by: Eric Rosenberg Last modified: Lightspeed Trading's home screen gives you several views into the performance of securities. Serious traders will be interested in Lightspeed's charting capabilities. You can also create graphs of potential plays.
You can organize the layout of your dashboard to suit your needs and preferences. Compare stock performances with Lightspeed's tools. Pros Low-Latency Trading — Trades complete very quickly. Great Trading Tools — Get access to tools used by professional investment firms.
Complicated Trade Fees — The fee schedule can be difficult to understand. No App — Although you can enjoy trading access from its mobile-optimized site, Lightspeed doesn't have a mobile app. Robinhood is a free stock broker that might appeal to new investors. But how does it stack up against the competition?
Read our in-depth review to find out. TradeStation Review - By Traders for Traders TradeStation may be a bit on the pricey side, but it's a decent trading platform for active traders. Lightspeed was built to fill a niche in the investment industry, and it hasn't shifted focus since its founding in This platform won't be suitable for new investors, those looking for managed portfolio or advisory services, or even DIY investors planning to execute only a handful of trades a year.
But for day traders, data junkies, or even professional investment managers, Lightspeed's advanced platforms offer cutting-edge features, research tools, and charting capabilities.
The mobile offerings aren't built for meaningful trading activity, but the desktop platforms allow for a degree of analysis, customization, and automation that would be difficult to top.
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From charting layouts to watchlists, options chains to order entry, Lightspeed allows users to customize almost any aspect of the platform. Even the basic platform offers more than order routing destinations, while advanced platforms allow for ultimate customization.
Wide range of educational resources, including glossary of terms and strategy how-to guides, videos and webinars, and more in-depth resources for advanced traders. Five platforms catering to different experience levels and focuses, including a platform dedicated to futures trading. A free web-based platform for equities traders and the free Livevol X platform for options traders. Lightspeed does not have a platform to support mutual funds or fixed-income securities. The search function does not retrieve particularly relevant results.
It will include and highlight all terms in menus and other landing page features for complex search terms. Lloyds of London policy for up to 25 Million cash and securities insurance per customer. What you need to know Lightspeed takes online security seriously. What you need to know Traders looking for all the bells and whistles should look no further. Pros Lightspeed offers fully customizable charts, even for the basic WebTrader platform.
Cons Unsurprisingly, the primary downsides of Lightspeed's desktop experience revolve around the difference between the free and paid platforms. Pros Both the mobile site and the app allow users to create and update watchlists and alert settings, read relevant news, and place equity and options trades from anywhere. Cons The primary downside of Lightspeed's mobile offerings is their lack of analytical tools.
What you need to know For day traders, immediate phone assistance is available during market hours. Robust selection of analyst ratings and reports, as well as accountability metrics, through partnership with TipRanks.
In partnership with Hammerstone Markets, view current news, trade ideas, and compare strategies with other traders. Insight on strategy, analysis, alternative investments such as cryptocurrencies , and margin trading. Easily customizable watchlists and alerts allow you to keep track of numerous securities at once. Advanced platforms include customizable stock screeners to help you identify opportunities. Pros Lightspeed is all about technical analysis. Cons Unfortunately, Lightspeed's laser-like focus on active trading means it has no room in its feature suite for fundamental analysis.
Short videos walk users through different platforms and subsequent software updates. What you need to know While Lightspeed may not be the ideal platform for new or casual traders, its website provides a decent selection of useful educational resources. About Our Broker Review Methodology.
Investopedia's mission is to provide online investors with the most unbiased, comprehensive reviews and ratings of self-directed brokers. Vetted by multiple industry experts - including a financial research firm with more than 20 years of experience in broker ratings - Investopedia's Broker Ratings and Reviews embody industry best practices for research design. Investopedia consulted independent researchers, and financial institutions, and conducted multiple tests, to design a system that rates brokers based on 10 categories and carefully selected variables.
Each category encapsulates the key elements needed for thorough evaluation. All have been tested for replicable results with a battery of evaluators.
Lightspeed is an online brokerage catering to active traders, with a wide range of specialized platforms and competitive commission discounts for high-volume traders. Investopedia analyzed Lightspeed Trading's fees, financial products, trading platform, and more. See why this broker earned a /5. Trading Platforms. Lightspeed Trading offers a nice selection of different trading platforms. Let’s review the options. Lightspeed Trader. LS Trader is the broker’s desktop platform for traders who need a multi-screen program with custom layouts. The software can function on up to 40 screens at time. Feb 19, · For options trading, there is Livevol X (owned by the CBOE; Lightspeed is the only broker with an enterprise license to offer the platform to customers), Derivix, Obsidian, OptionsCity, Valdi Options Solutions, and Wex.3/5.