For high-volume traders, we have chosen Lightspeed, a division of Lime Brokerage.
Lightspeed is known for its many trading platforms, day-trading services, and discounts for frequent traders. Although it doesn’t yet provide trading in cryptocurrencies, it does offer futures and options.
Lightspeed’s trading platforms are designed for different types of traders.
Here they are with their highlights:
- Eze EMS (the former RealTick Pro): This one is designed for futures traders. And in fact, it’s the only platform at Lightspeed capable of trading the asset. It comes with streaming Level II data, watchlists, hot keys, direct-access routing, and basket order entry.
- Livevol X: This platform offers market scanners and window linking, features that Eze EMS doesn’t offer. But it doesn’t come with extended-hours trading, which is available on Eze EMS.
- Sterling Trader Pro: This software offers API functionality and is capable of handling multiple accounts. It has a high number of market venues.
- LS Trader: If you need 40 custom layouts, then LS Trader is your platform. The program also has a very good option scanner.
Although Lightspeed does charge software fees for some of the above platforms, a few of them are eligible for rebates based on monthly volume.
Speaking of monthly volume, Lightspeed’s commission schedule for stocks, ETFs, and options varies by volume. Accounts that trade more than 15 million equity shares in a month pay just 0.1¢ per share. Options are as low as 20¢ per contract, and futures contracts are a flat $1.29 each per side.