LightSpeed Review

LightSpeed Review

6 min read

LightSpeed Review: The New York-based Lightspeed is a division of Lime Brokerage. The company started in 1994. They offer lower rates for high-volume trades. As a result, they attract very active traders. This includes Institutions and Hedge Funds. The lowest rate for stocks is $0.001 per share. That’s a good deal! However, that’s if you trade over 250,000 shares per month; about 12,000 shares per day. Needless to say, brokers‘ fees and commissions make a difference. Especially to the bottom line of those trading substantial numbers.

Is LightSpeed the best day trading platform? It’s absolutely at least one of the best. They are a reliable broker that offers a high speed execution rate on trades, powerful technology built for high volume trading, and low cost fees on stocks and options. You need to be comfortable with the broker you choose because it’s the hub of everything trading related. Buying and selling stocks as well as options, charting, and style are all important.

Lightspeed and Lime Brokerage offer more than a lower-cost trading solution. As their name implies, speed executions of trades are part of their proposition. I wouldn’t call it a USP however. USP is also known as Unique Selling Proposition.

In fact, many other platforms claim the same. Take a look at our recent Speedtrader review to see what I mean. Nonetheless, let’s take a look under the hood of Lightspeed. As a result, you can be the judge.

LightSpeed Promo Code

Bullish Bears Members Promo: *Use promo code BULLISHBEAR

Receive:

Commissions – $3.00 per trade or $.003 per share/$0.50 min.

Options – $0.30 per contract

$5,000 minimum deposit (cash accounts only, web/mobile platform only)

$10,000 minimum deposit (NPDT or cash accounts, eligible for LightSpeed Trader)

For more information on opening a demo account or opening an account with LightSpeed please contact Rob Livson at rlivson@lightspeed.com

Lightspeed Website

Platform

Let’s take a look at the trading platforms in this Lightspeed review.

Livevol X – This free platform is suited to nonprofessional traders. It can be used on multiple monitors. Livevol X features include multi-leg order execution, Level II quotes, data analytics. Also included are risk, position, and trade analysis. It’s a useful tool for derivatives traders and offers 24/7 access to exchanges.

Lightspeed Trader – Overall, it’s customizable and functions on multiple screens. Orders are sent rapidly to over 100 routing destinations. There are features like advanced charting capabilities, the Lightscan search tool, Level II quotes, risk controls, and custom orders, to name a few. That makes the Lightspeed Trader platform more suited for active traders.

Web/Mobile Trader – The free Web/Mobile platform is for traders on the go. It’s accessible from a browser or mobile device. You need an internet connection. You can view real-time data and execute orders from your Mac, PC, tablet, or phone. The platform is good for non-professional traders. However, less than ideal for day traders. Level II quotes are not available on this platform.

Sterling Trader Pro – Just like the “Pro” in the name says, this platform is designed for professional and institutional traders. Hotkeys and load order entry make it instantaneously fast. It’s full-featured and highly customizable. It includes Level II quotes, real-time profit and loss information, advanced charting capabilities, and portfolio management tools.

Realtick

RealTick Pro and Express – For highly experienced traders, the RealTick platform is the most sophisticated. It’s designed to be used by hedge funds, registered investment advisors, and active traders.

This platform provides access to both Level I and Level II streaming data. RealTick is Lightspeed’s futures-trading platform. Two options are offered, RealTick Pro and RealTick Express. Just go to Lightspeed to compare platforms.

Accounts

Let’s take a look at the accounts in this Lightspeed review. Lightspeed offers individual, joint, partnership, corporate, LLC, trust, and registered hedge fund accounts. Furthermore, they offer traditional, Roth, and SEP (Simplified Employee Pension) IRA accounts.

In addition, Lightspeed offers account types, such as:

  • DVP/RVP (Delivery versus Payment/Receipt versus Payment)
  • CMTA (Clearing Member Trade Agreements)
  • SMA (Separately Managed Account)
  • Portfolio Margin
  • Regulation T Margin Account

You can fund your accounts via ACH, domestic or international wire transfer, or check.

However, new traders opening a small trading account may find Lightspeed’s minimum fund requirements daunting.

At this time, the minimum amount is $10,000 for Web Trader platform accounts. Then jumps to $25,000 for accounts on the Lightspeed Trader, Sterling Trader, and RealTick platforms.

IRAs are one of the exceptions. You can open an account for as low as $2,000 depending on the platform. Portfolio Margin accounts require a minimum of $175,000; unless using the Livevol X platform. Then it’s $110,000.

What Are LightSpeeds Fees and Commissions? (Pricing Review)

  1. Fees vary depending on the number of trades. In fact, Lightspeed’s fees drop considerably for high-volume traders.
  2. $2.50 per trade over 10,000 trades, $2.75 over 3000 trades, $3.00 over 1500 trades, $3.50 over 750 trades, $4 over 250 trades, $4.50 under 250 trades
  3. $0.0010 Over 15,000,000 per share of stocks and etf‘s
  4. $0.0015 Over 6,000,000 shares
  5. Over 3,000,000 shares $0.0020
  6. $0.0025 Over 1,000,000 shares
  7. $0.0035 Over 250,000 shares
  8. Under 249,999 shares **$1 minimum
  9. Options Pricing: $0.20 over 100,000 contracts, $0.25 over 50,000 contracts, $0.35 over 10,000 contracts, $0.45 over 2000 contracts, $0.50 over 500 contracts, $0.60 over 500 contracts
  10. Futures Fees: $1.29 per side, options – $1.79 per side

Get updated pricing here.

Lightspeed’s fees and commissions make it a desirable option for high-volume traders. For more information on pricing, visit Lightspeed. Also see their routing feesmargin rates, and service & processing fees.

Bullish Bears Members Promo: *Use promo code BULLISHBEAR

Receive:

Commissions – $3.00 per trade or $.003 per share/$0.50 min.

Options – $0.30 per contract

$5,000 minimum deposit (cash accounts only, web/mobile platform only)

$10,000 minimum deposit (NPDT or cash accounts, eligible for LightSpeed Trader)

For more information on opening a demo account or opening an account with LightSpeed please contact Rob Livson at rlivson@lightspeed.com.

LightSpeed Trader Stock Price and Symbol: Are They Publicly Traded?

Investors cannot purchase shares of LightSpeed Trader because the company is privately held.

LightSpeed Review Final Thoughts

Lightspeed demos are available on request. In fact, the company offers tutorials, webinars, a trading glossary, and has an active trading blog. Lightspeed’s customer support is notable in that it has associates who speak English, Chinese, and Spanish.

Lightspeed even offers excess SIPC insurance. Additional options are specialized software for stock, options, and futures traders, trade reporting software and risk management software.

Talking about risk management, I’ll conclude this Lightspeed review by reminding you that it takes more than a good system and broker to make money in the markets.

I was reading the Market Wizard series of books, looking for the magic formula used by the superstar traders making multi-million dollars. I found that they all had different approaches.

Except for one thing. The secret that’s not a secret. They were all applying ‘money and risk management‘ principles. When trading, watch your risk.

Understand how much you can make while limiting your loses. Taking the appropriate position size for your account will allow you to last long enough to learn to be a profitable trader. 

Related Articles

Das Trader Review

Das Trader Review

Das Trader Review: With DAS Direct Access Software (aka Direct Access Trading), you may become the trader you always wanted to be. To begin with, Trader

Read More »
SpeedTrader Review

SpeedTrader Review

SpeedTrader Review: One of the reasons you’ll find SpeedTrader in your googling results is likely because it has been around for a long time servicing

Read More »

FREE ONLINE TRADING COURSES

If you’ve looked for trading education elsewhere then you’ll notice that it can be very costly.

We are opposed to charging ridiculous amounts to access experience and quality information. 

That being said, our website is a great resource for traders or investors of all levels to learn about day trading stocks, futures, and options. Swing trading too! 

On our site, you will find thousands of dollars worth of free online trading courses, tutorials, and reviews.

We put all of the tools available to traders to the test and give you first-hand experience in stock trading you won’t find elsewhere.

Our content is packed with the essential knowledge that’s needed to help you to become a successful trader.

It’s important to treat day trading stocks, options, futures, and swing trading like you would with getting a professional degree, a new trade, or starting any new career.

Invest the proper time into your Trading Education and don’t try to run before you learn to crawl. Trading stocks is not a get-rich-quick scheme. It’s not gambling either, though there are people who treat it this way. Don’t be that person! 

STOCK TRADING COURSES FOR BEGINNERS

The Bullish Bears team focuses on keeping things as simple as possible in our online trading courses and chat rooms. We provide our members with courses of all different trading levels and topics.

If you’re a beginner, intermediate level, or looking for expert trading knowledge…we’ve got you covered. 

We have a basic stock trading course, swing trading course, 2 day trading courses, 2 options courses, 2 candlesticks courses, and broker courses to help you get started. Free.

Just choose the course level that you’re most interested in and get started on the right path now. Become a leader, not a follower. When you’re ready you can join our chat rooms and access our Next Level training library. No rush. We’re here to help.

Click Here to take our free courses.