LightSpeed Review

LightSpeed Broker Review 2024

7 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 monthly shares, which is about 12,000 daily. 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 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. It would be best to be comfortable with your chosen broker because it’s the hub of everything trading. 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.

Many other platforms claim the same. Please 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 get in touch with Rob Livson at rlivson@lightspeed.com

Lightspeed Website

LightSpeed Platform Review

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, and data analytics. Also included are risk, position, and trade analysis. It’s a useful tool for derivatives traders and offers 24/7 exchange access.

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. It would be best if you had an internet connection. You can view real-time data and execute orders from your Mac, PC, tablet, or phone. The platform is good for nonprofessional traders. However, it is less than ideal for day traders. Level II quotes are not available on this platform.

Sterling Trader Pro – This platform is designed for professional and institutional traders like the “Pro” in the name. 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.

SERVICES
Trading Rooms Stock Signals and Trading Alerts Stock Watch Lists
DESCRIPTION Bullish Bears offer trade rooms in our Discord. Our chat rooms include penny stocks, large caps, options, and futures We offer stock signals and trade alerts through our watch lists and Discord bots using Tradytics Swing trade and day trade watch lists with hand-picked symbols that have the best chance of breakouts. These are stocks to watch
INCLUDED

LightSpeed Realtick

RealTick Pro and Express – For highly experienced traders, the RealTick platform is the most sophisticated. It’s designed for use 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.

LightSpeed 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.

Currently, the minimum amount is $10,000 for Web Trader platform accounts. Then, it jumps to $25,000 for Lightspeed Trader, Sterling Trader, and RealTick platforms accounts.

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

Lightspeed Web Platform Review

What Are LightSpeeds Fees and Commissions? (Pricing Review)

  1. Fees vary depending on the number of trades. 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 ETFs
  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.

Bullish Bears Promo Code

Lightspeed’s fees and commissions make it a desirable option for high-volume traders. For more pricing information, 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 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. The company offers tutorials, webinars, and 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.

Regarding 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 losses. Taking the appropriate position size for your account will allow you to last long enough to learn to be a profitable trader. 

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