3/10/2023 0 Comments Lightspeed trading![]() ![]() Customers who plan to use the website and don’t plan to day trade can deposit just $10,000.Īfter an account is funded, some account types will have lower minimums to maintain trading privileges. Because Lightspeed Trading caters to day traders, it requires a minimum deposit of $25,000 to open any account that uses one of its advanced desktop platforms. securities regulations, all pattern day-trading accounts must have a balance of at least $25,000. $5,000 for Web Trader, $25,000 for RealTick and Trader plans The platform gives all levels of traders the capability to easily design and customize layouts, rules, and fully customizable home screens and reporting to best fit different trading styles.Lightspeed Trading minimum deposit to open account It is designed and well-suited for day-traders. Lightspeed Trader is the flagship trading platform. ![]() Features and Fees of the Lightspeed Trading Platform Platform Feature The table below summarizes the features and fees of the trading platforms. Lightspeed Trading charges fees for three of the five platforms. Lightspeed Trading provides its clients with five trading platform options, LightSpeed Trader, Sterling, Livevol X, Eze EMS Pro, and a Web/Mobile application. bank statement, utility bill, or tax invoice dated within the last three months and issued to your name and address). passport, driver’s license, or national ID), and proof of address (i.e. Opening an account with Lightspeed Trading is usually completed within up to 5 business days. Bank transfer transactions take up 5 business days. Transfer of Securities Requiring Legal Opinion Documentsįunding a Lightspeed Trading account can be accomplished via bank transfer, AHC, or check. Request of Certificate for DRS eligible issue Reorganization Items (Subscriptions, Redemptions, Tenders, Exchanges and Conversions) Non DTCC-eligible security Transfer Agent fees Non DTCC-eligible security New York Window fee Paper Statement Delivery Fee (per mailing)Į-mail Statement and Confirm Delivery Fee Minimum monthly commission, accounts under $15,000 $0.01/share or $1.00/contract with a $50 per position minimum Lightspeed Trading charges its clients various service and securities processing fees. This bond covers cash credit balances to a maximum of $900,000 for a total of $1,150,000 in cash balances.įor clients that do not meet monthly trading volume criteria to qualify for Active Trader Commissions, below is a table that summarize the commissions with the lowest volume thresholds: Tradable Instruments and Commissions: Non-Active Traders Asset classįor large institutional and high net worth clients that do meet monthly trading volume criteria to qualify for Active Trader Commissions, below is a table that summarize the commissions with the lowest commission thresholds: Tradable Instruments and Commissions: Active Traders Asset classīelow is a list of the types of available accounts: Investment Accountsīelow is a list of details and features for Individual Trader Accounts. In addition to the SIPC coverage, Wedbush also provides an excess SIPC bond that grants additional coverage for up to $25,000,000 in cash and securities for each client account, subject to an aggregate loss limit of $100,000,000. SIPC provides coverage up to $500,000, of which a maximum of $250,000 applies to cash credit balances. Each Lightspeed account is covered up to $25,500,000. ![]() Lightspeed’s clearing agent Wedbush, provides excess Securities Investor Protection Corporation (“SIPC”) coverage for each client account carried by Wedbush on behalf of Lightspeed. It operates under FINRA and SEC regulations. Lightspeed Trading is headquartered in New York City and has offices in Chicago, Boston, and Platteville, WI. The new brokerage will continue to operate under the name Lightspeed Trading and will owned by Limelight Holdings LLC. The combining of the three firms created an entity that will potentially handle approximately 1% of the US market in equities and options. In May of 2018, Lightspeed Trading merged with Lime Brokerage and efutures. Add to this the low fees that Lightspeed charges its customers and the result is a brokerage that appeals to active high-volume traders. Lightspeed is also highly regarded for the cutting-edge technology applied to its trading platforms. Originally founded in 1994, Lightspeed Trading has built a reputation for having very fast and reliable trade execution (as the name implies). ![]()
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