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Lightspeed Trading is a risk management and brokerage company for private traders, institutional investors and hedge funds.
About company. Fund security
The firm is owned by Lightspeed Trading, LLC, which is headquartered in New York. This broker is licensed by reliable US regulators: Financial Industry Regulatory Authority, National Futures Association, Securities and Exchange Commission. There is no need to doubt the reliability of this broker.
In addition, the broker is a member of the Securities Investor Protection Corporation (SIPC), so that if the company goes bankrupt, the client can return up to $ 500,000.
Trading conditions
Clients can open the following types of accounts with Lightspeed: Individual, Joint, Corporate, Trust, LLC, Separate Hedge Fund Accounts, Retirement Accounts.
All transactions in the company are executed using DMA technology, which ensures low trade delay. Available trading assets: stocks, options, futures.
Minimum deposit
It depends on the platform the client chooses:
$ 25,000 - if you are using Lightspeed Trader, RealTick or Sterling Trader platforms;
$ 10,000 - using the Web Trader platform;
$ 25,000 - when using the Livevol X platform.
The very minimum that a client needs to deposit is $ 10,000, which is considered a high minimum deposit in the field of trading. However, the presence of licenses from such serious regulatory bodies most likely speaks of a reliable reputation, which means that you can safely invest large sums. For those who are just starting to master trading, we recommend choosing brokers with the smallest deposit. You can familiarize yourself with the companies in our ranking.
Commission
Standard fees: $ 0.0045 per share, $ 0.60 per option contract, $ 0.60 per futures contract.
However, Lightspeed encourages active traders by offering lower fees. Active traders who trade more than 500 options contracts per month can qualify for even lower rates. Those who trade over 100,000 contracts per month will pay as little as $ 0.20 per contract.
If you trade more than 1,000,000 shares per month, then you are eligible to pay a commission of $ 0.0025 per share.
If you consider yourself an active trader, then request access to lower commissions by calling the broker's phone number or by e-mail.
Trading platforms
Lightspeed Trading offers several trading platforms: LightspeedTrader, Lightspeed Web / Mobile Trader, Sterling Trader, RealTick Pro and Express, Livevol X.
Lightspeed Trader is the flagship trading platform and, according to the broker, is one of the best trading platforms available on the market. The terminal with a fully customizable and intuitive interface, charts and filters ensures fast execution of all trades. Since 2017, the platform has been available on mobile devices.
Sterling Trader Pro offers an advanced graphics package, direct electronic access to all exchanges and ECNs, full control over system components for quick access to markets and exchanges.
RealTick is suitable for active traders, registered investment advisors (RIAs) and hedge funds. It provides sophisticated trading tools, unrivaled access to liquidity, real-time data, charting, analytics and streaming news.
Support service
Lightspeed offers phone and email support. The broker also offered clients chat advice, but the service was closed in mid-2012.
Connecting with specialists in most cases takes less than 1 minute. However, if they did not respond immediately, then the trader can wait for an answer for an hour or even several days. Unfortunately, the support team does not answer all customer questions.
Traders will find a lot of useful educational information divided into different product classes. These are short video tutorials that last an average of 3 minutes.
Webinars are also regularly held and news is published on the portal, including company updates on social media such as Twitter.
The site is available in English, Spanish and Chinese.
Ways of payment
Only bank transfers are available. Depositing funds is free, a withdrawal fee of $ 20 for domestic transfers within the country and $ 50 for international transfers is charged. Withdrawal requests are processed on the day of submission, money is credited to the account within 3-5 days.
Pros:
regulated broker; low commission for trading instruments is available to active traders; a large selection of trading platforms.
Minuses:
high minimum deposit; accepts payments only by bank transfers; commission is charged for depositing and withdrawing funds.
LIGHTSPEEDTRADING is a company whose task is to provide intermediary services to traders. Brokers / Crypto exchanges provide access to currency / cryptocurrency trading, first of all. Also, many of them, if we are talking about brokers, give the opportunity to make transactions with company shares, bonds, commodities, precious metals, indices, cryptocurrency and other assets. A private person can make transactions with all these instruments only on a trading platform, access to which is provided by a broker or a crypto exchange.
In addition, thanks to such companies, an individual can operate in the market with amounts significantly exceeding the amount of his own funds. This is called the provision of leverage. For example, having a deposit of 1,000 USD with a leverage of 1:400, a trader can make transactions for 400,000 USD.
As well, the broker / crypto exchange opens access to analytics, auxiliary tools, trading signals. Without all this, modern trading is impossible.
LIGHTSPEEDTRADING profits from traders' trades, usually in two main ways
.
First – most common. Using spreads. This word refers to the difference between the best prices for buying and selling a certain asset at a particular moment. Moreover, in a transaction between a trader and a broker, the price is one, and between the broker and market users - another. The mediator takes the difference.
The second method is easier to understand. This is a fee for each operation performed. Most often it has a standard value, but can also be measured as a percentage.
Therefore, the company is interested in attracting as many clients as possible and that they conduct active trading.
How honest brokers / crypto exchanges should work and how they work, we found out. And now let's look at how scammers act, they are also called kitchens.
The most common way to cheat – is to twist quotes. Broker / crypto exchange gives the trader quotes that differ from the real market. There is a substitution of data in order to make operations unprofitable. The deposit is reduced, and then completely reset. At the same time, the trader thinks that his operations were made on the market, but in fact – just on the site of scammers.
Bonus – traps. They are generously distributed for anything: registration, account replenishment, etc. Only after that, in order for the client to withdraw his own money mixed with bonus money, it will be necessary to fulfill a number of actually impossible conditions. For example, to conduct trading operations in the amount of ten times more than the size of the deposit.
The User Agreement may also mask a clause that allows the broker / crypto exchange to dispose of the client's money. Inattention when reading such an agreement most often turns into a complete loss of the deposit.
One of the key points – it is the place of registration and regulation of the company's activities.
First let's talk about registration. As a rule, traders are more trusted by companies either from their own country or from an economically developed country, for example, a member of the European Union. Of course, compliance with UK law is reassuring, and compliance with the laws of an unknown island in the Indian Ocean does not mean anything to most at all.
On fact, most brokerage companies are registered offshore, and we are talking not only about small offices, but also about world leaders. Saint Vincent and the Grenadines, Belize, Marshall Islands, Mauritius are popular offshore zones among companies. Registering there, companies pay significantly less taxes than in the place of actual location, which is sometimes carefully hidden.
If a trader has claims against such a company, then it is likely that he will have to deal with it in accordance with the laws of the same conditional Belize. It is possible to be physically present there at court hearings. And this is extremely expensive and difficult.
No is it worth running like fire from just the word «offshore»? As an answer, we will cite the names of companies that are not related to brokerage, but with an impeccable reputation and also save on taxes with the help of offshore registration: Apple, Pfizer, Microsoft, General Electric, Intel.
And here we come to the second important point – this is the regulation of the broker / crypto exchange. First of all, it is carried out at the level of the state where the company is registered. Each country has its own regulatory body for brokering. So, in Russia it is the Central Bank of the Russian Federation. The trader can find permits on the websites of such authorities. But there are also supranational structures. For example, the International Financial Commission, which is an independent self-regulatory organization, specifies disputes between its members – brokers and their clients.
If there is no information on the broker's website / crypto exchange about the regulation of its activities or license, then it is almost certainly a scammer. Or on the site there is data on some license issued by him, but this information is not confirmed anywhere else. Most likely, these are also scammers.
When choosing a brokerage company, or crypto exchanges, study its history. Look at the links to its experts. If one of the leading TV channels in the economic news for 5 years in a row refers to the opinion of the analyst of the broker in question – this is good. If the broker / crypto exchange assures that it has been working for 15 years, but there is no information about it on the Internet at all – this is bad.
It is important to pay attention to reviews about the company. And read them not only on the website of the broker itself / crypto exchange. In the kitchen, they will certainly be only praiseworthy. It is better to view as many sites as possible.
Pay attention solely to the specifics in the offers on the websites of brokers / crypto exchanges. Honest companies openly write about interest, spread size, minimum deposit, etc. Scammers lure loud streamlined phrases about a rich tomorrow, a stable income, mislead with incomprehensible terms about multi-sites, superfunctions and so on.
Specify the company's connection with well-known brands, financial institutions, public organizations. For example, it can be sponsored. Large brokers / crypto exchanges sometimes hold social promotions. Scammers will definitely not do this.
Therefore, the process of choosing a broker / crypto exchange is complicated. But if you approach it carefully, it will allow you to enter the world of trading, which has made millions of people rich around the world
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Before any trade and choosing a broker You must always read reviews on this site and on other sites. Companies who are honest, have a rating of above 3.8. Also there is always the risk of loss when trading CFDs. Be careful and read the disclosure on the website of the company you chose. LIGHTSPEEDTRADING received a score of 1 of 5 on our resource.