Lightspeed Offers New Commission fee for WebTrader 2012

lightspeed

Lightspeed is one of the discount brokerage which has been rated among the top brokerage by various financial magazine such as Barron, Smart Money, and more. It offers Lightspeed Trader, Lightspeed Gateway, Lightspeed Web Trader, and Lightspeed Forex.

New Commission Fee on 1/15/2012

There will be new commission schedule for Lightspeed WebTrader user on 1/15/2012.

• Lightspeed will eliminate the per-share rate plan. Any customer on per-share rate will be switched to the new per-trade plan.
• Lightspeed will reduce the current per-trade plan from $4.50 per trade to $3.00 per trade.

The new commission will be:

• For equities, $3.00 per trade with 50,000 share maximum order size
• For options, $0.60 per contract ($3.00 minimum commission)

Other Information about WebTrader

For Lightspeed Web Trader client assets, LightSpeed uses Penson Financial Services as their clearing. This asset account is insured by SIPC and supplemental Lloyd’s of London coverage by Penson. About WebTrader:

• Products Offering: Stocks, Options
• Market Orders: $3.00 per trade (50,000 share max per trade)
• Limit Orders: $3.00 per trade
• OTCBB and PINK sheet Stocks: $10 (up to 20,000 shares)
• Options: $0.60/contract ($3.00 min)
• Phone Order: $20 per order
• Minimum fund to Open: $1,000 (Cash) & $2,000 (Margin)
• Account Inactivity Fee: $0.00
• Other Fees: Wire Fee: $20.00 (domestic) ACAT Out: $50.00.
• Maximum Margin Rate: Please refer to lightspeed trading website