How to Appeal Lightspeed Trading Fees Hassle-Free
Lightspeed provides professional traders with all the tools they need to succeed. This software can be customized easily, allowing traders to access all the information in real-time. are low, allowing traders to enjoy high returns on their investment. With the tiered pricing, professional traders enjoy rates as low as $0.001/share for anyone trading at least 250,000 shares and above monthly.
Despite the low rates, Lightspeed hasn't joined the zero commission trend shared by other leading trading platforms. In fact, Lightspeed's fee reflects the sophistication and complexity that defines the rest of its platform. If you wish to fight and waive Lightspeed trading fees but have no idea where to start, or if you've tried unsuccessfully, DoNotPay can help.
Lightspeed Trading Fees Explained
Lightspeed offers low trading fees for options or equities.
Besides equities, directed routed, and SPX (S&P 500 Index), Lightspeed offers other indices and ETFs.
As a trader, you are charged regulatory fees depending on the amount of the principal sold (if you're dealing with SEC), shares sold (if you are trading in FINRA TAF), or the contracts traded when you are into Options ORF.
For SEC, FINRA TAF, and Options ORF, the regulatory fees rate is $0.0000051, $0.000119, and $0.0388, respectively.
You can opt for the per contract or per-trade pricing structure. Lightspeed charges $2.50 per trade for traders with over 10,000 trades each month. However, the rate is subject to increase based on the volume of trades. If you have fewer than 250 trades, you will pay $4.40 per trade for either ETF or stock.
If you choose the per share rate, you will be entitled to pay $0.00010 for every share, provided your monthly shares are more than 15,000,000 in volume. However, for shares less than 249,900, you will pay as high as $0.0045, and you incur a $1 minimum.
As an options trader, you will pay $0.20 for every contract. But if you have less than 500 contracts each month, you will be required to pay $0.60 for every option. For futures, you will spend $1.29 per slide and $1.79 per contract for future options. The table below is a schedule of :
|All Equities, Smart Routed (SMRT)||Free|
|All Other Indices||$0.40|
|SPX (S&P 500 Index)||$0.62|
|All Equities, Direct Routed||$0.35|
Other funding minimums that you should be aware of for new accounts include:
- $175,000 for margin traders
- $10,000 for browser-based platform
- $25,000 for Sterling Trader, Eze EMS, and Lightspeed Trader
How to Avoid Lightspeed Trading Fees
Trading fees are not only a discouragement, but they also lower your overall margins. Avoiding some of these fees can improve your returns significantly. Here are three simple ways to avoid Lightspeed trading fees:
- Focus on exchange-traded funds (ETFs) and avoid mutual funds. ETFs attract low expense ratios compared to mutual funds. Besides, building a well-diversified and low-cost portfolio is easy with ETFs.
- Do trade in products with 12b-1 fees, back-end loads, or front-end loads. Usually, these products are common with mutual funds.
- Opt for ETFs that have no trading fees. The majority of fund families have waivers on ETFs.
Does Lightspeed Have Hidden Fees?
The pricing structure for Lightspeed depends on the volume. However, unlike the case with other brokerage firms, Lightspeed charges a commission fee and the structure changes from one contract or trade to the other.
Besides the commission and the costs for futures and options, Lightspeed has hidden charges. For instance, if you trade with less than 100 shares, Lightspeed will charge you a minimum commission fee. Usually, the commission fee is calculated by multiplying the share rate by 100.
How to Appeal Lightspeed Trading Fees by Yourself
If you want to make the most of your trades, you have to avoid trading fees and other charges as much as possible. However, in some cases, this isn't easy to do. For Lightspeed trading fees, it is advisable to consider trading in ETFs so you can enjoy the low expense ratios; avoid mutual funds, and only choose ETFs that have no trading charges.
Also, you can contact the support for assistance with trading fees appeal. But these options can be strenuous and time-consuming. However, DoNotPay offers a more reliable solution to trading fees appeal.
Use DoNotPay to Appeal Lightspeed Trading Fees
Here's how you can use DoNotPay to appeal fees:
- Search "appeal fees" on DoNotPay, choose the Fight and Waive Fees product, and select the type of fee you want to appeal.
- Select the merchant you want to appeal fees for and enter the details of your transaction, including an associated account if you have one.
- Submit your case! DoNotPay will generate the best argument for your case and make sure your fee waiver request gets sent to the merchant for processing.
Why Use DoNotPay to Appeal for Trading Fees
DoNotPay is a legal chatbot helping people fight and waive fees for years. We can help you fight and waive fees for Lightspeed Trading, as well as platforms like PayPal, eBay, Robinhood, Shopify, Coinbase, and Etsy. We also help with:
What Else Can DoNotPay Do?
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