![]() ![]() ![]() These are small, typically less than $0.01 per share, and vary widely by market and order type. First, depending on which market you choose for any given trade, Lightspeed may charge a routing fee attached to each trade. In fact, Lightspeed’s pricing model reflects the complexity and sophistication that defines the rest of its platform. If you would like to day trade with your 401(k), on Lightspeed you can.ĭespite advertising itself as low-cost, Lightspeed has not joined the zero commission trend shared by most (if not all) major trading platforms. However, by contrast, Lightspeed also offers a wide variety of account types, including personal, corporate and several types of retirement accounts. Futures contracts require you to use a separate trading tool than Lightspeed’s ordinary platform, and the service does offer Treasury bills through broker-assisted trades. Lightspeed offers trading in stocks, ETFs, options and futures. You cannot buy most long-term products on this service. ![]() Lightspeed reflects its identity in the assets it offers. For professional day traders, on the other hand, it can mean real money. For ordinary investors this wouldn’t matter. This difference is measured on a scale of seconds, and more often fractions of a second. This skips the third party brokers who typically process trading platform orders, allowing Lightspeed to process orders faster than competing platforms. Investors can select the markets through which they would like to send their trades, and the platform itself routes those orders directly to the market. Perhaps the most important feature that Lightspeed offers is the titular speed of its transactions. (Even within specific assets, however, investors should expect somewhat less information than they could find in a competing product like E*TRADE.) You must look up the stocks or options you’d like to invest in and then pull up any specific information you would like. While Lightspeed is built around technical trading, it is an asset-oriented product. You will find no fundamental analysis here, and not even many of the large sheets of market-oriented technical data. This service is geared toward high-volume traders, and as a result orients its tools around that market. Both offer largely comparable products, although with mildly different interfaces. It’s core brand is its desktop platform, Lightspeed Trader, which is complemented by its web platform called Lightspeed Web Trader. Lightspeed offers two main trading platforms. If those tools seem like they might meaningfully change your trading game, Lightspeed might be worth your while. If you would like to search for assets by trading volume or volatility, you can do so. It also includes a customizable search tool called Lightscan, so that you can look for assets not just by name and industry but by a range of technical indicators. We’ll put it to you this way: One of the features that Lightspeed offers is the ability to pick your own trading venue based on the market currently offering you the best prices. Unless you make serious money as a day trader, you’ll get more for your money elsewhere.īut professionals might find this service worthwhile. Inexperienced investors, indeed anyone but sophisticated and high-skill investors, will find its interface confusing and its tools unhelpful. Ordinary investors will find little to love here. This is a trading platform designed for professionals. On its website Lightspeed calls itself “the home of professional traders,” and it is honest in its branding. Services & Features: What Does Lightspeed Offer? For a retail investor, you will probably do better to look elsewhere. The benefits of Lightspeed’s tools may outweigh the costs of using it. If you are a professional trader making some real money off of this system, it may work well for you. Between the two, you have a system which is only particularly useful to traders who want to make high-volume, high-speed transactions, and which charges for each of these (ideally numerous) trades. At the same time it offers a set of highly specific tools that can benefit extremely active (read: fast) traders. Despite advertising itself as “low cost stock and options trading.” Lightspeed still charges trading commissions. This has left Lightspeed somewhat behind in the retail market. Today no-commission trading is a standard pitch offered by even the full-featured platforms. You could accept the wrong fit on a platform in exchange for a free trade. Five years ago, offering low-cost trades helped a service stand out. Professional investor sitting in front of her screens of dataīy now most mainstream trading platforms are free. ![]()
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