Once again, there is a $1 minimum commission.Ī final package offers commission-free trading on stocks and ETF’s. Options are priced on a per-contract basis with discounts for monthly volume. There is a $1 minimum commission on each trade on the per-share plan. Moving to other instruments, things get a little more complicated.Ī per-trade plan is available for stocks and ETF’s with the following rates: Futures are $1.29 per side, and options on futures are $1.79. Lightspeed offers multiple commissions schedules. Overnight positions have the same amount of leverage as day-trading positions. The broker-dealer also requires a minimum level of day trading experience for this account. It’s called the portfolio margin account, and it has a minimum balance of $175,000. To get to this level, the broker requires a separate account. It is possible to qualify for 6:1 leverage. The rule does grant an exception for traders who place less than 4 trades in a 5 business-day period.ĭespite this one disadvantage, there are several strengths, including:Īt Lightspeed, the standard amount of leverage day traders will receive is 4:1 with a $25,000 account balance. This requires an account balance of at least $25,000 to actively day trade. Because the broker-dealer is located in America, it must enforce the SEC’s pattern-day-trader rule. For example, TradeZero doesn’t offer futures contracts.īesides individual and joint accounts, Lightspeed also offers the following account types:ĭay traders will find lots to enjoy about Lightspeed-and probably one thing they don’t like. This is a decent selection compared to other day traders. Lightspeed offers trading in futures, options, stocks, and ETF’s. Lightspeed also has a supplementary insurance policy through Lloyd’s of London for extra protection. Every customer gets $500,000 worth of insurance from SIPC. It is a member of FINRA, the SEC, and SIPC. The company also offers a lot of educational materials so beginners should definitely sit up and take notice. Lightspeed is a U.S.-based brokerage firm with low commissions and several trading platforms to choose from. Could be rather pricey for occasional traders.No commission-free trading with any decent platform.
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