Lightspeed Financial vs Merrill Edge - BrokerCue
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Broker Comparison

Lightspeed Financial vs Merrill Edge

Compare Lightspeed Financial and Merrill Edge side by side: fees, regulation, platforms.

Lightspeed Financial

Lightspeed Financial

High-volume active and professional traders

Lightspeed Financial is a US broker targeting active and professional traders with volume-tiered commissions …

VS
Merrill Edge

Merrill Edge

Bank of America customers and long-term investors

Merrill Edge is a Bank of America brokerage offering commission-free stocks, ETFs and options, integrated ban…

Head-to-head comparison

Lightspeed Financial vs Merrill Edge
Feature Lightspeed Financial Merrill Edge
Minimum deposit - -
Stock trading fee Per-share: from $0.001 (over 15 million shares/month) to standard rate (under 250,000 shares/month); per-trade: from $2.00 (over 10,000 trades/month) to $3.99 (over 250 trades/month); $0.25 minimum per order on Web and Mobile $0 per online trade; broker-assisted: $29.95
Regulators FINRA, NFA, SIPC FINRA, SEC
Best for High-volume active and professional traders Bank of America customers and long-term investors
Markets & account
Stocks
ETFs
Bonds
-
Options
Futures
-
Margin
Demo Account
-
Funds
-
Money Market Funds
-
Ready Made Portfolios
-

Pros & cons

Lightspeed Financial

Lightspeed Financial

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
Merrill Edge

Merrill Edge

Pros

  • No commissions on online stock and ETF trades
  • No account minimum and no inactivity fee
  • Integrated with Bank of America banking via single login
  • BofA Rewards program offers banking perks for combined account holders
  • SIPC protection up to $500,000 plus additional Lloyd's of London coverage
  • MarketPro platform for active traders with Level II quotes
  • Extensive research tools and educational resources
  • Merrill Guided Investing robo-advisor available from $1,000

Cons

  • No fractional shares
  • No cryptocurrency trading
  • No futures or forex trading
  • No paper trading or demo account
  • Margin rates are high compared to some competitors
  • Mobile app options trading experience is limited
  • No-transaction-fee mutual fund list is smaller than some competitors
Lightspeed Financial

Lightspeed Financial

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.

Visit Lightspeed Financial Read review

Your capital is at risk. Other fees apply.

Merrill Edge

Merrill Edge

Merrill Edge is a Bank of America brokerage offering commission-free stocks, ETFs and options, integrated banking rewards, and a robo-advisor service.

Visit Merrill Edge Read review

Your capital is at risk. Other fees apply.

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