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E*Trade vs Lightspeed
The same facts side by side. Swap a broker from the menu under its logo; the best value in each row is marked.
- E*Trade leads
- 3
- Lightspeed leads
- 2
- Level
- 6
Of 11 scored facts, E*Trade leads on 3, Lightspeed on 2, and 6 are level. Countries and the offer are not scored.
Head-to-head
The best value in each row is marked; rows where every broker matches carry no mark.| Fact |  E*Trade |  Lightspeed |
|---|---|---|
| Fee per contract | $0.65 per contract | $0.50 per contractBest |
| E*Trade, $0.50 at 30+ trades per quarter | Lightspeed, Web and mobile orders have a $1 minimum; other fees apply | |
| Exercise and assignment | FreeBest | $15 |
| Approval | Naked | Naked |
| E*Trade, Up to naked short options | Lightspeed, Up to naked short options | |
| 0DTE | Yes | Not published |
| Index options (SPX) | Yes | Yes |
| Options on futures | Yes | Yes |
| Spreads in an IRA | Yes | Not published |
| Portfolio margin | Yes | Yes |
| Margin rate | 11.70% | 10.00%Best |
| Platforms | Web, Desktop, Mobile, API | Web, Desktop, Mobile, API |
| Paper trading | Yes | Yes |
| 24/7 support | YesBest | No |
| Countries | Eligibility list not published; non-US citizens may apply by mailed international application | US and non-US residents (non-US needs $5,000; no country list) |
| QuantWheel | Trade & SyncBest | Not connected |
| E*Trade, Reads the account and places the orders you approve | ||
| Offer |
Facts from each broker's fee schedule and options agreement, checked 8 October 2026. Best marks the lowest cost or the widest allowance in a row.
The two brokers
One paragraph each.E*Trade$0.65 per contract · free exercise · naked
E*Trade opens options accounts for residents of the United States, among the 9 countries this directory covers. It charges $0.65 per contract ($0.50 at 30+ trades per quarter). Exercise and assignment are free. It approves up to naked short options. It trades on Web, Desktop, Mobile, API. QuantWheel syncs positions and trades from the account and suggests; with Trade & Sync the orders you approve go to the broker from QuantWheel.
Lightspeed$0.50 per contract · $15 per event · naked
Lightspeed opens options accounts for residents of the United States, among the 9 countries this directory covers. It charges $0.50 per contract (Web and mobile orders have a $1 minimum; other fees apply). Exercise and assignment cost $15 each. It approves up to naked short options. It trades on Web, Desktop, Mobile, API. It is not connected to QuantWheel.
What each costs for the way you trade
A year of fees from each broker's published prices, checked 7 and 8 October 2026.
- E*Trade$0.71 a trade, 0.6% of your premium, fee not published
- $68 a year
- Lightspeed$3.70 a trade, 3.1% of your premium
- $355 a year
E*Trade is $287 a year lower on the fees it publishes, and it does not publish every fee this strategy needs
Not counted because E*Trade does not publish them: clearing fee, options regulatory fee, live options quote price, inactivity fee. Not counted because Lightspeed does not publish them: clearing fee, FINRA trading activity fee.
Estimates from published fees. Your broker statement can differ, and brokers change fees. A fee a broker does not publish is never counted as $0.
Questions people ask
E*Trade vs Lightspeed