Lightspeed Financial Review

High-volume active and professional traders

FINRA NFA SIPC

Founded 2006 · United States · Wedbush Securities

Why investors choose this broker

Volume-tiered stock commissions as low as $0.001 per share
Options commissions as low as $0.20 per contract for high-volume traders
Multiple professional platforms including Lightspeed Trader Pro, Sterling Trader Pro, and Eze EMS
Futures trading available via CQG integration

Review summary

Lightspeed Financial is a US broker targeting active and professional traders with volume-tiered commissions on stocks, ETFs, options, and futures via multiple professional-grade platforms.

Pros

Volume-tiered stock commissions as low as $0.001 per share
Options commissions as low as $0.20 per contract for high-volume traders
Multiple professional platforms including Lightspeed Trader Pro, Sterling Trader Pro, and Eze EMS
Futures trading available via CQG integration
FINRA and NFA member with SIPC protection
10-day demo account available to test platforms
ACH deposits and withdrawals are free

Cons

$25,000 account minimum for flagship desktop platforms
$25 monthly minimum fee for accounts under $15,000
Lightspeed Trader Pro software fee of up to $130 per month
No fractional shares, no crypto, no forex
High minimum balances make the platform inaccessible to casual investors
Platform complexity presents a steep learning curve for less experienced traders
Margin rates of 11.00% at lower debit balances are above some competitors

Company background

Lightspeed Financial Services Group LLC was established in 2006 as a spin-off of the professional trader platform of E-Trade. The firm expanded through acquisitions of Integrity Trading, NobleTrading, Terra Nova Financial, and Greenmoor Financial Group between 2008 and 2011. Wedbush Securities acquired Lightspeed in 2018. The firm is headquartered in New York and targets active, high-volume, and professional traders in US markets.

Fees and pricing

Lightspeed uses volume-tiered commissions. Stock and ETF per-share rates range from $0.001 (over 15 million shares per month) upward; per-trade rates range from $2.00 (over 10,000 trades per month) to $3.99 (over 250 trades per month). Options commissions range from $0.20 to $0.50 per contract depending on monthly volume. Futures are $1.29 per side plus exchange fees; futures options are $1.79 per side. Accounts under $15,000 with less than $25 in monthly commissions are charged a $25 monthly minimum fee. Lightspeed Trader Pro carries a $130 monthly software fee reduced by commissions generated. ACH transfers are free; domestic wire transfers cost $20 and international wires cost $50. Overnight margin rates range from 8.50% to 11.00%.

Regulation and safety

Lightspeed Financial Services Group LLC is a FINRA-registered broker-dealer, NFA member, and SIPC member. SIPC coverage applies to securities and cash held in equities and equities options accounts up to applicable limits. Futures accounts are subject to NFA rules. Clients can verify the firm's regulatory record through FINRA's BrokerCheck system.

Platform experience

Lightspeed provides multiple platforms. Lightspeed Trader Pro is the flagship desktop platform with direct market access, advanced order routing, real-time analytics, and AI chat integration. Sterling Trader Pro and Eze EMS are alternative professional platforms. Lightspeed Web and Mobile offers browser and mobile access with a lower $10,000 account minimum compared to $25,000 for desktop platforms. Futures trading is handled through CQG. A 10-day demo account is available for testing platform features without real funds.

Pros and cons

Lightspeed's main strengths are its volume-tiered commissions as low as $0.001 per share, multiple professional-grade platforms, direct market access, and support for stocks, ETFs, options, and futures. The main drawbacks are high account minimums of $10,000 to $25,000, monthly minimum fees for smaller accounts, a platform software fee, and the absence of fractional shares, crypto, and forex products.

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Your capital is at risk. Other fees apply.

Trading fees & commissions

Stock commissions start at $0.001 per share for the highest-volume tier or $2.00 per trade; options commissions start at $0.20 per contract. Accounts under $15,000 with less than $25 in monthly commissions are subject to a $25 monthly minimum fee.

Fees

Item	Fee
Margin	Overnight margin rates: 11.00% (under $50,000 debit) to 8.50% (over $1,000,000 debit); no interest on same-day closed positions
Account	No account opening fee; $25,000 minimum equity for Lightspeed Trader Pro, Sterling Trader Pro, and Eze EMS; $10,000 minimum for Lightspeed Web and Mobile
Deposit	ACH deposits free; wire transfer deposits subject to bank fees
Futures	$1.29 per side plus exchange and regulatory fees; futures options $1.79 per side plus fees; traded through CQG platform
Options	Per-contract: from $0.20 (over 100,000 contracts/month) to $0.50 (over 500 contracts/month); $0.50 minimum on Lightspeed Trader Pro and Sterling Trader Pro; $1.00 minimum on Web and Mobile; routing and regulatory fees charged separately
Software	Lightspeed Trader Pro software fee: $130 per month minus total monthly commissions; market data for stocks $25 per month, options data additional $10 per month
Inactivity	$25 per month for accounts under $15,000 with less than $25 in commissions that month
Withdrawal	ACH withdrawals free; domestic wire transfer $20; international wire transfer $50; outgoing ACAT $95

Trading platform & features

Platforms

Lightspeed Trader Pro
Lightspeed Web and Mobile
Sterling Trader Pro
Eze EMS
CQG

Regulation and investor protection

Lightspeed Financial Services Group LLC is a member of FINRA, NFA, and SIPC. SIPC coverage applies to securities and cash held in connection with the purchase or sale of securities in equities and equities options accounts.

Broker FAQs

Is Lightspeed Financial safe?

Lightspeed Financial Services Group LLC is a FINRA-registered broker-dealer, NFA member, and SIPC member. Client securities and cash held in connection with equities trading are covered by SIPC protection up to applicable limits.

Is Lightspeed Financial a scam?

No. Lightspeed Financial Services Group LLC is a registered broker-dealer regulated by FINRA and an NFA member. It has operated since 2006 and is a subsidiary of Wedbush Securities.

Is Lightspeed Financial regulated and by whom?

Yes. Lightspeed Financial Services Group LLC is a member of FINRA, NFA, and SIPC. Clients can verify the firm's regulatory record through FINRA's BrokerCheck system.

Does Lightspeed Financial keep client funds in segregated accounts?

As a FINRA-registered broker-dealer and SIPC member, Lightspeed is subject to rules governing the custody and segregation of client assets. SIPC coverage applies to securities and cash held in equities and equities options accounts.

What happens to my money if Lightspeed Financial goes bankrupt?

SIPC protection covers securities and cash held in connection with the purchase or sale of securities in equities and equities options accounts, up to applicable SIPC limits. Futures account assets are subject to NFA rules and are not covered by SIPC.

What products does Lightspeed Financial offer?

Lightspeed offers trading in stocks, ETFs, options, and futures (including futures options). Margin trading is available on eligible accounts.

Does Lightspeed Financial offer options trading?

Yes. Lightspeed offers options trading with per-contract commissions ranging from $0.20 to $0.50 depending on monthly volume. Futures options are also available at $1.79 per side.

Does Lightspeed Financial offer futures trading?

Yes. Lightspeed offers futures and futures options trading through the CQG platform. Standard commissions are $1.29 per side for futures and $1.79 per side for futures options, plus exchange fees.

Does Lightspeed Financial offer ETF trading?

Yes. Lightspeed offers ETF trading under the same volume-tiered commission structure as stocks.

Does Lightspeed Financial offer fractional shares?

No. Lightspeed does not list fractional shares as an available product. The platform is designed for active traders dealing in full share quantities.

What does Lightspeed Financial charge for stock trades?

Stock commissions are tiered by monthly volume. Per-share rates range from $0.001 (over 15 million shares per month) upward. Per-trade rates range from $2.00 (over 10,000 trades per month) to $3.99 (over 250 trades per month). A $0.25 minimum applies on the Web and Mobile platform.

What does Lightspeed Financial charge for options trades?

Options commissions range from $0.20 per contract at the highest volume tier (over 100,000 contracts per month) to $0.50 per contract (over 500 contracts per month). Routing fees and regulatory fees are charged separately.

Is there a withdrawal fee at Lightspeed Financial?

ACH withdrawals are free. Domestic wire transfers cost $20 and international wire transfers cost $50. Outgoing ACAT transfers are $95.

Does Lightspeed Financial charge an inactivity fee?

Accounts with equity below $15,000 that generate less than $25 in commissions in a given month are charged a $25 monthly minimum fee, reduced by the commissions actually incurred.

Does Lightspeed Financial charge a platform fee?

Lightspeed Trader Pro carries a $130 monthly software fee, which is reduced by the total commissions generated that month. Traders who generate $130 or more in commissions effectively pay no platform fee.

Does Lightspeed Financial have a demo account?

Yes. Lightspeed offers a 10-day demo account that simulates platform features without using real funds. Separate demo accounts are required for different platforms.

Does Lightspeed Financial have a mobile app?

Yes. Lightspeed Web and Mobile is available as a browser-based and mobile trading option. The mobile platform requires a $10,000 account minimum.

Is Lightspeed Financial good for beginners?

Lightspeed Financial is designed for active and professional traders and is generally not suited for beginners. High account minimums ($10,000 to $25,000), a complex fee structure, and professional-grade platforms present a steep learning curve.

Is Lightspeed Financial good for long-term investing?

Lightspeed is primarily designed for active, high-volume trading rather than long-term buy-and-hold investing. Investors who trade infrequently will face the $25 monthly minimum fee on smaller accounts and platform software fees.

Bottom line

Lightspeed Financial suits users who are active or professional traders seeking volume-tiered commissions, direct market access, and professional-grade platforms for stocks, ETFs, options, and futures. It may not suit users who are beginners, casual or long-term investors, or anyone looking for fractional shares, crypto, or forex trading.

Lightspeed Financial

High-volume active and professional traders

Open Account

Your capital is at risk. Other fees apply.