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Lightspeed is a brokerage firm designed for active traders who prioritize speed and advanced tools. Established to serve high-frequency traders, it offers platforms focused on rapid execution and efficiency. This review provides an overview of Lightspeed’s offerings, emphasizing aspects relevant to beginner traders.
Lightspeed Key Features
- Advanced Trading Platforms: Multiple platforms, including Lightspeed Trader and Sterling Trader Pro, designed for active trading.
- Competitive Commission Structure: Volume-based discounts on commissions for stocks and options.
- Direct Market Access (DMA): Enables traders to interact directly with market exchanges.
- Robust Customer Support: Access to knowledgeable support during market hours.
- Educational Resources: Materials and webinars to assist traders in enhancing their skills.
Lightspeed Regulatory Status & Licenses
Lightspeed operates under stringent regulatory oversight to ensure a secure trading environment. As a member of the Financial Industry Regulatory Authority (FINRA), the National Futures Association (NFA), and the Securities Investor Protection Corporation (SIPC), Lightspeed adheres to industry standards and practices. These memberships provide clients with protections such as insurance coverage for securities and cash held in accounts.
Additionally, Lightspeed offers supplementary insurance through Lloyd’s of London, extending coverage beyond standard SIPC limits. This additional layer of protection underscores the firm’s commitment to safeguarding client assets.
| Regulatory Authority | License Number | Fund Protection | Negative Balance Protection | Country |
|---|---|---|---|---|
| FINRA | 131703 | SIPC Coverage | Not Specified | USA |
| NFA | 0330872 | N/A | Not Specified | USA |
| SEC | 0001122636 | N/A | Not Specified | USA |
| SIPC | Not Disclosed | Up to $500,000 | Not Specified | USA |
| Lloyd’s of London | Not Disclosed | Excess SIPC | Not Specified | USA |
Lightspeed Trading Instruments
Lightspeed provides access to a variety of trading instruments, catering to diverse trading strategies. Clients can trade equities, options, and futures. However, it’s important to note that Lightspeed does not offer mutual funds or fixed-income products, focusing instead on instruments favored by active traders.
The firm offers competitive leverage options, with day traders typically receiving 4:1 leverage. For those meeting specific criteria, such as maintaining a portfolio margin account with a minimum balance of $175,000, leverage can extend up to 6:1. Spreads are generally tight, reflecting the platform’s emphasis on rapid execution and cost efficiency.
| Asset Class | Number of Assets | Leverage | Spreads (Typical) |
|---|---|---|---|
| Equities | Extensive | Up to 6:1 | Tight |
| Options | Extensive | N/A | Competitive |
| Futures | Select Markets | N/A | Competitive |
Lightspeed Trading Platforms
Lightspeed offers several trading platforms to accommodate the needs of active traders. The flagship platform, Lightspeed Trader, is renowned for its speed and customization capabilities. It provides advanced order management, real-time market data, and a suite of analytical tools.
For traders seeking alternative solutions, Lightspeed supports platforms like Sterling Trader Pro, Livevol X, and Eze EMS. Each platform offers unique features tailored to different trading styles and preferences.
| Platform | Availability | Features |
|---|---|---|
| Lightspeed Trader | Desktop | Advanced order management, real-time data, customizable interface |
| Sterling Trader Pro | Desktop | Basket order entry, hotkeys, Level II quotes |
| Livevol X | Desktop | Options analytics, scanning tools |
| Eze EMS | Desktop | Multi-asset trading, advanced analytics |
| Web Trader | Web-based | Basic trading functionalities, accessible via browser |
| Mobile Trader | iOS, Android | On-the-go trading, real-time quotes, charting tools |
Lightspeed Mobile App
Lightspeed’s mobile application, Lightspeed Mobile, extends the platform’s capabilities to handheld devices. The app offers real-time quotes, charting tools, and the ability to execute trades swiftly. It’s designed to provide a seamless trading experience for those on the move.
User reviews highlight the app’s reliability and speed, essential qualities for active traders.
| Feature | iOS Rating | Android Rating |
|---|---|---|
| Real-time Quotes | 4.5 | 4.3 |
| Charting Tools | 4.4 | 4.2 |
| Trade Execution | 4.6 | 4.4 |
| User Interface | 4.3 | 4.1 |
Lightspeed Account Types
Lightspeed offers a variety of account types to suit different trading needs. These include individual and joint taxable accounts, as well as retirement accounts like Traditional IRAs, Roth IRAs, and SEP IRAs. The firm also caters to corporate accounts, trusts, and LLCs, providing flexibility for various trading entities.
Each account type comes with specific requirements regarding minimum deposits, leverage options, and commission structures. For instance, the minimum deposit for a web and mobile trading account is $10,000, while software-based accounts require a minimum of $25,000.
| Account Type | Minimum Deposit | Leverage | Spreads | Commission |
|---|---|---|---|---|
| Individual Taxable | $10,000 | Up to 4:1 | Tight | Per-share or per-trade rates |
| Joint Taxable | $10,000 | Up to 4:1 | Tight | Per-share or per-trade rates |
| Traditional IRA | $2,000 | N/A | Tight | Per-share or per-trade rates |
| Roth IRA | $2,000 | N/A | Tight | Per-share or per-trade rates |
| SEP IRA | $2,000 | N/A | Tight | Per-share or |
Lightspeed Commissions & Fees
Lightspeed offers a competitive and flexible commission structure tailored for active traders. Clients can choose between per-share and per-trade pricing models, with discounts available based on monthly trading volume. Additionally, there are fees associated with platform usage, market data, and account maintenance.
| Fee Type | Standard Account | ECN Account | VIP Account | Swap-Free Account |
|---|---|---|---|---|
| Stocks & ETFs (Per Share) | ||||
| – 0 to 249,999 shares/month | $0.0045/share | N/A | N/A | N/A |
| – 250,000 to 1 million shares | $0.0035/share | N/A | N/A | N/A |
| – 1 to 3 million shares | $0.0025/share | N/A | N/A | N/A |
| – 3 to 6 million shares | $0.0015/share | N/A | N/A | N/A |
| – Over 6 million shares | $0.0010/share | N/A | N/A | N/A |
| Stocks & ETFs (Per Trade) | ||||
| – 0 to 250 trades/month | $4.50/trade | N/A | N/A | N/A |
| – 251 to 750 trades | $3.50/trade | N/A | N/A | N/A |
| – 751 to 1,500 trades | $3.00/trade | N/A | N/A | N/A |
| – 1,501 to 3,000 trades | $2.50/trade | N/A | N/A | N/A |
| – Over 3,000 trades | $2.00/trade | N/A | N/A | N/A |
| Options (Per Contract) | ||||
| – 0 to 500 contracts/month | $0.60/contract | N/A | N/A | N/A |
| – 501 to 2,000 contracts | $0.50/contract | N/A | N/A | N/A |
| – 2,001 to 10,000 contracts | $0.45/contract | N/A | N/A | N/A |
| – 10,001 to 50,000 contracts | $0.35/contract | N/A | N/A | N/A |
| – Over 50,000 contracts | $0.25/contract | N/A | N/A | N/A |
| Futures | $1.29/contract per side | N/A | N/A | N/A |
| Platform Fee | $130/month (waived if commissions exceed $130) | N/A | N/A | N/A |
| Market Data Fee | Starts at $25/month | N/A | N/A | N/A |
| Inactivity Fee | $25/month (if account balance is below $15,000 and commissions are under $25) | N/A | N/A | N/A |
| ACH Transfer Fee | Free | N/A | N/A | N/A |
| Domestic Wire Transfer Fee | $20 | N/A | N/A | N/A |
| International Wire Fee | $50 | N/A | N/A | N/A |
| ACAT Out Fee | $95 | N/A | N/A | N/A |
| IRA Annual Fee | $35 (after the first year) | N/A | N/A | N/A |
| Paper Statement Fee | $5 | N/A | N/A | N/A |
| Paper Confirmation Fee | $2 | N/A | N/A | N/A |
Lightspeed Deposit & Withdrawals
Lightspeed supports a variety of deposit and withdrawal methods, including ACH transfers, domestic and international wires, and check deposits. Processing times are efficient, especially for wire transfers, and ACH remains free of charge for both deposits and withdrawals.
| Payment Method | Deposit Fee | Withdrawal Fee | Processing Time |
|---|---|---|---|
| ACH Transfer | Free | Free | 1–2 business days |
| Domestic Wire Transfer | Varies by bank | $20 | Same day (if requested by 2:30 PM EST) |
| International Wire | Varies by bank | $50 | 2–5 business days |
| Check Deposit | Free | N/A | 3–5 business days |
| ACAT Incoming Transfer | Free | N/A | 5–7 business days |
| ACAT Outgoing Transfer | N/A | $95 | 5–7 business days |
| IRA Distribution | N/A | $50 | 3–5 business days |
Lightspeed Customer Support
Lightspeed’s customer service is known for being responsive and professional, providing timely support through phone, email, and live chat. Their U.S.-based support team is available during business hours and offers help with platform issues, account inquiries, and technical support.
| Support Channel | Availability | Response Time | Languages |
|---|---|---|---|
| Phone Support | Mon–Fri, 8 AM – 5 PM EST | Immediate | English |
| Email Support | 24/7 | Under 24 hours | English |
| Live Chat | Mon–Fri, 8 AM – 5 PM EST | Instant | English |
| Support Ticket | 24/7 | Under 24 hours | English |
| FAQ Center | 24/7 | Instant | English |
| Platform Demos | By request | 1–2 business days | English |
Lightspeed Education & Research
Lightspeed offers a comprehensive range of educational materials to help traders improve their skills. It includes beginner-friendly webinars, platform walkthroughs, market analysis, and a trading glossary. Their Active Trader Blog provides market updates and professional trading insights.
| Resource Type | Availability | Quality |
|---|---|---|
| Webinars | Weekly | High |
| Platform Tutorials | On-demand | High |
| Trading Blog | Updated weekly | High |
| Glossary | 24/7 | High |
| Video Library | 24/7 | High |
| Trading Simulator | By request | Medium |
| Platform Manuals | Downloadable PDF | High |
Lightspeed Google Reviews & Reputation
Lightspeed enjoys a solid reputation among active traders, particularly those using direct market access and algorithmic strategies. The broker receives praise for its speed, professional support, and customizable platforms. User reviews across major app stores and review websites reflect a generally positive sentiment.
| Rating Factor | Score (out of 5) | Trustpilot Rating | App Store Rating | Google Play Rating |
|---|---|---|---|---|
| Overall Experience | 4.3 | 4.1 | 4.5 | 4.2 |
| Platform Stability | 4.4 | N/A | 4.6 | 4.3 |
| Customer Service | 4.5 | 4.3 | 4.4 | 4.1 |
| Pricing & Fees | 4.2 | 4.0 | N/A | N/A |
| Education Quality | 4.0 | N/A | N/A | N/A |
Lightspeed Bonuses & Promotions
Lightspeed does not offer flashy bonuses or high-risk promotions commonly found with less regulated brokers. Instead, it focuses on rewarding loyal and high-volume traders through tailored commission discounts and rebates.
However, occasional promotions may include:
- Commission rebate for first-time clients
- Reduced platform fees for high-volume traders
- Referral bonuses for professional accounts
- Free access to premium data feeds on a trial basis
- Discounted access to third-party tools
Lightspeed Advantages & Disadvantages
| Pros | Cons |
|---|---|
| Ultra-fast trade execution | High minimum deposit requirement ($10,000) |
| Direct market access (DMA) | No forex or crypto trading |
| Multiple advanced trading platforms | Mobile app less advanced than desktop version |
| Volume-based pricing and commission flexibility | Platform fees if minimum commissions aren’t met |
| Strong regulatory framework and SIPC protection | Platform learning curve for beginners |
| Excellent support for active and institutional traders | Limited support outside U.S. business hours |
| Extensive educational content and webinars | No mutual funds or bonds available |
Final Thoughts
Lightspeed is built for serious traders who value speed, direct access, and control over their trading environment. While it’s not ideal for beginners looking to casually trade small volumes, it shines for those who are willing to learn and trade actively.
With powerful tools, low-latency execution, and strong regulatory oversight, Lightspeed offers a professional-grade trading experience. For dedicated traders ready to take the next step, it’s one of the top brokers in the U.S. market.