https://www.lightspeed.com/10k-2020/ OPEN A NEW ACCOUNT Get up to $10,000 Cash Back Open a new account and Lightspeed will rebate 50% of your equities and options commissions for the first three months up to $10,000 cash back! Offer available to new customers who utilize Lightspeed Trader, Sterling, or Eze EMS (formerly RealTick). Promotion period starts the day the account is opened and ends after 90 calendar days. Rebate will be deposited directly into your Lightspeed account within 45 days of the end of the promotional period. Cannot be combined with any other offer or discounted rates. To take advantage of this offer, when you open an account USE PROMO CODE: 10K2020 Offer available to new customers only. Only NASDAQ, AMEX, and NYSE listed stocks, and listed options contracts, are eligible. Does not apply to non-exchange listed stock, i.e. OTCBB and Pink Sheets. Does not apply to accounts using Lightspeed Web & Mobile. Account must be funded with, and maintain, a minimum of $25,000 in equity at all times during the promotional period. Accounts must remain in good standing during the promotional period; excessive margin calls, risk liquidations, and compliance or regulatory inquiries are grounds for removal from the program. Rebate does not apply to routing or regulatory fees. * $1 minimum.
I reposted this in options trading group on Facebook. But all you guys need is a great and free trading platform that can compete with ToS and TWS, API and advanced order execution. Everyone is looking for great features and usability, without having to pay for them. It’s just my 2 cents, I don’t know your business model.
thanks for sharing the promotion with us at ET ! I really hope they dont do anything to tarnish their reputation as a lightening fast , direct access broker with great communication with their clients. There is a youtube video of a "trader" who has been trading a few months now and feels he is entitled to free trades, dude literally does + 1,000 trades a day and even has the nerve to say "he will be moving brokers because TD informed him that he would have to pay if he wants to place over 300 trades a day. Yeah I wonder why these "free" brokers are crashing everyday? These same geniuses will be demanding short locates next and literally have no idea how shorting works. and be calling in to ask about ridiculously stupid ****ing **** for hours, so when you actually need to call for something important expect to sit on hold. Is this really the type of clientele any business should pursue? Lightspeed is one of the few remaining choices for actual retail daytraders. I really hope they dont cheapen their wonderful product, I dont use them currently but know many traders that do. Of course we'd all love free but I hope even in this freeloader environment, Lightspeed still can compete and do well as a brokerage business far, far into the future. Thanks for sharing the promotion with ET!
Sorry, by “free trading platform” I meant only the trading platform itself. The commissions and fees aren’t bad with LightSpeed. Actually I’m not even trying LightSpeed because I’m confused with their various platforms and platform costs, and would need to try all of them and pay for them, and even then I didn’t see anything very usable so far. TradeStation actually looks like a nice platform but not very popular because they also want to charge money just to see it, so no one knows how it looks... While I’m not sure if LightSpeed’s business model isn’t to grow and be more accessible, even to professionals.
Guru-We offer choice of software but there is no reason to be confused. Most of our active equity/option clients use Lightspeed Trader. Start with a demo of that. https://www.lightspeed.com/demo-request/. If that fits your needs, there is no reason to try them all. As for platform cost, many of our clients are active so they only pay for market data. Lightspeed Trader (LST) costs $130/month plus market data. The LST cost is offset by commissions from the previous month and 1st month is free. We never cover the cost of Market data. Lightspeed is built for fast order entry and fast routing. You get choice of routing and choice of a per-share or per-trade rate. If you add the API, which has no additional cost, you can automate your equity orders with a C++ Library. We do not provide market data to the API to avoid non-display fees. If anyone wants more information about any of our platforms or pricing plans, please email or call me directly.