Find the latest Lightspeed Trading promotions and offers here from one of the best brokers for frequent traders.
About Lightspeed Trading
Traders that are interested in having access to the highest number of trading platforms in the industry should consider Lightspeed. They have a unique software program that is highly customizable, and offer customers a wide variety of options that they can choose from. Although their application process may be slightly outdated, it’s worth going through if Lightspeed fits your needs.
The Application Process
Before you can be approved to use the Lightspeed trading system, you will have to send in an application. Users will be required to print out a .PDF form, fill it out with basic information, and mail it into the company’s headquarters. You will then be approved to use the program whenever you desire. There is room for improvement in this regard, as all applications should be able to be done online.
High Number of Trading Platforms
The most noteworthy benefit of Lightspeed is the fact that it offers a substantial amount of trading platforms, far more than any other company in the industry to date. Every year they are adding more platforms to enhance the convenience of their users. For example, the Lightspeed Trader platform is the most popular and offers customizable software, high performance, and more. The main thing to consider is that to have access to the Lightspeed Trader platform, you will need at least $25,000 in your account on a monthly basis, making it un-affordable for some groups of traders.
One of the most common fees that you might experience if you are a small balance trader is an additional Minimum Commission Fee. Unfortunately over time, the fee can make it far too expensive for small investors to even consider using the program. If your account has less than $15,000 in it every month, you will be charged an additional $25/month. There are also a variety of fees pertaining to IRA accounts, which isn’t beneficial for retirement investors.
Useful for Veteran Traders
If you’re looking for a trading platform that is going to accommodate beginner traders, Lightspeed isn’t the platform to consider (you may like TD Ameritrade’s free ThinkorSwim). There have been numerous customers that have complained about their customer service, the complicated interface, and the trader oriented pricing scheme. All of these factors aren’t going to help an individual learn how to trade effectively as they might focus more on learning the program than learning to trade. There is also a lack of learning materials for new investors.
Lightspeed Promotion: Up To $10,000 Cash Back
- Open a new account and Lightspeed will rebate 50% of your equities and options commissions for the first three months up to $10,000 cash back
- Offer available to new customers who utilize any of their DMA trading platforms (Lightspeed Trader, Sterling, or RealTick)
- Use promo code “10KGOOG“
For the best brokerage promotions, see our listing here. Some of the best offers typically are provided by Scottrade, TD Ameritrade, Betterment, Motif, Tradeking and OptionsHouse. Here are the current most popular offers:
- Best Brokerage Promotions And Bonuses July 2017
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- Motif Investing Review: $100 And $150 Bonus Promotions
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- OptionsHouse Brokerage Promotions: $1,000 In Free Trades
- TD Ameritrade Promotions: $2500 Cash Bonus And Free Trades!
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- TradeStation Promotions: $1,500 In Commission Rebates!