Also available is Level II data on derivatives. It has scanners, charts, and a calculator for options. The best program at Lightspeed for derivative trading is Livevol X. Mutual funds and fixed-income securities are not available at Lightspeed on any platform. Option contracts are available on most platforms that Lightspeed provides. Although TD Ameritrade offers bonds and mutual funds, these products cannot be traded on the desktop platform. On thinkorswim, forex, options, and futures can be traded. If you trade more than just stocks, both brokerage firms have you covered. thinkorswim offers the data in shades of blue, which we find less useful. Sterling Trader offers Level II data with different prices in different colors. Quotes are available on most platforms it offers, the primary exceptions being the mobile and browser systems. You need to click on the “+” sign in the lower-left corner and add it.
#LIGHTSPEED ACCESS SOFTWARE#
The software doesn’t provide the Level II window automatically.
#LIGHTSPEED ACCESS FREE#
TD Ameritrade offers the quotes on thinkorswim free of charge, to both professionals and non-professionals.
If you need Level II data, you can get it at either brokerage firm. There is no live streaming of financial news, which the thinkorswim app offers courtesy of CNBC. It does offer advanced order types, watchlists, real-time data, charting, and market news. The Lightspeed mobile app doesn’t have customizable routes, which puts it at a disadvantage here. The order ticket has a lot of advanced features, and we liked the economic calendar on the app. It somehow incorporates most of the desktop program’s advanced features, including professional-level charting and direct-access routing. TD Ameritrade provides three apps, one of which is a thinkorswim platform. Lightspeed’s other three software programs do impose fees, but two of them (LS Trader and RealTick Pro) offer rebates for placing a minimum number of tradesīoth brokers offer mobile trading. Thinkorswim, the Lightspeed web platform, and Livevol X are free to use. These include SILEXX OEMS and RealTick Pro. Lightspeed also permits the use of several specialty programs. It does lack good research tools, however. Watchlists, API access, advance charting, and basket orders are all available. Lightspeed’s customers can also use the Sterling Trader platform. This software provides direct-access routing and hot keys. Next in line in order of sophistication is LS Trader. We found basket order capability, which isn’t available on the broker’s browser platform. Starting with the simplest, there is a browser system that is able to place trades and provide basic quote information. The software’s order ticket offers direct-access routing, several time-in-force options, and complex order types, such as order cancels other. One unusual feature is the ability to place an NBC icon on a graph at a point where CNBC released a news article about a stock. There are lots of drawing tools, and of course company events and comparisons are included. There are several hundred technical studies available. It is rather complex and requires some time to learn.Ĭharting on thinkorswim is the best we have seen. This is a huge benefit to anyone who hasn’t used the software before. The thinkorswim platform is launched from the desktop, and the first thing we noticed when we were trying it out is the option to go into simulated-trading mode. TD Ameritrade: $0 commissions + transfer fee reimbursement.
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