![]() It turned out that the Web Trader requires Microsoft Silverlight to run. I was aware they did not have a mobile app, but I was hopeful that I would be able to use their Lightspeed Web Trader on my work computer and possibly on my Android phone. Their claim didn't make sense because the account only had stocks and call options in it.Īfter the transfer was completed, I found that their platform was inadequate for my needs. Lightspeed claimed that it was due to the type of positions I had in my account. This was the slowest account transfer I had ever experienced. I know there was no issue with the transferring brokerage because a transfer of another account from the same originating brokerage to a 3rd brokerage was completed in just 2 days. It took them 2 weeks to complete a transfer in my IRA account. Incoming ACAT transfers are very slow at Lightspeed. It is way better than overrated HF brokers like Interactive brokers in my opinion. If instead for the month of April you paid $105 in commissions, than you're ok and wouldn't be charged any extra fee).Īll in all, I would highly highly recommend Lightspeed for any serious trader. With LSTrader, you will also need to accumulate at least $100 in commission each month or pay the difference as a fee (say all your trades for April comes out to $50 in commission total, you would be charged the other $50 as a fee. You will need at least $10k-$15k to open an account.Īnother drawback is that data fees usually run about $10-$20 extra per month but with the money your saving in commissions, it kind of makes up for itself. ![]() The only drawbacks that I have found with Lightspeed is that it takes higher funding requirements, so it's not a broker for casual mom and pop traders with only a few bucks to their name. Many other brokers won't allow you to email support.Īs far as platform, trading, back office, customer support, and web tutorials, Lightspeed Excels. I have emailed my service rep Rob with almost every question imaginable and he is always very fast to respond. Market fees add in about another $0.0035 per share.Īnother plus to Lightspeed is the ability to receive rebates on market fees if you add liquidity rather than take liquidity.Īnother thing I love about Lightspeed is the Customer Service. ![]() You can choose either per trade ($4.50 per trade) or per share (highest rate is currently around 0.0045 per share and that pricing can be lower depending on how many shares you trade each month). LSTrader Platform is highly recommended.Įxecutions are lightning fast. If you are a frequent and serious trader, you should find the functionality in Lightspeed perfect for your needs. I have been using Lightspeed for years now and absolutely love them. Pros: Extremely Fast Executions, Very Cheap Per Share Pricing or Flat Fee if you choose, Everything I need in LSTrader Platform, Amazing Customer Service, Email Support PossibleĬons: Minimum monthly commission on LSTrader, Market Data Fees, Higher Initial Funding Minimums nope it still bought it almost 10 cents higher! Hell, I even tried typing in the exact amount I wanted it to execute and BAM. There is no way that guy Ross Cameron is getting lightning fills right where he wants. BAM!!! You just got screwed! It happens with every execution no matter what settings or routing you try. You try to buy in at say $1.82 and you execute the buy with your programmed hotkey and the damn thing buys it at $1.89 and the stock goes red at $1.88. The platform seems quick in the demo state for scalping. Another guy sounded like he was too busy typing out a book and wasn't paying attention to my questions. One guy did answered the phone and sounded like he was eating a sandwich and a bag of potato chips. And when they finaly did after multiple attemps. Took almost 2 weeks for the application approval. You don't get in or out where you want $$$!!! :(
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