Does anyone who currently applied to Lightspeed for a new margin account (particularly international applicants) experiences long delays to get the account approved and opened? I did send my filled out application forms to Lightspeed back in early October 2020! After having finalized the application with one of their sales reps, my application is pending final review since mid November!!! I have contacted the customer support several times, always getting the same answer /excuse that they have a lot of applications pending and it may take even longer for approval (even though I have been waiting for about almost 4 months now...). Is there anything that can be done to accelerate the process / prioritize my case? I'm now thinking to move to another broker (I have checked already with some of them, they state to have much shorter approval periods). I'm an active full-time day trader who wants to get better access to the US market and Lightspeed was my broker of choice. But this situation is becoming more and more unacceptable...
It takes a few days for your application to be approved by Interactive Brokers. On which parameters do you consider Lightspeed to be superior to Interactive Brokers justifying months of waiting for account approval?
For my trading strategies, I need a broker with very fast and reliable order executions as well as a stable trading platform, particularly during volatile and extreme markets. From my research and based on experience with other traders in my community, Lightspeed fulfills these requirements.
Yes, we are overwhelmed with domestic individual, IRA, LLC, and foreign individual and LTD applications. We are hiring new staff and doing the best we can. The fact is that any application that requires a manual review, is not addressed as often as the domestic online electronic individual account apps that we can do quickly. We are worth the wait.
Short update: I was in contact with Robert over the weekend. He forwarded my case and put in the effort to prioritize it for approval --> result: today my account was opened! Big thumbs up!!
konkhra- Your profile says "Romania" We have both individual and OU accounts from Romania. My contact information is below. Just email me any questions I can help with.