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Lightspeed review

Founded 2000 (broker-dealer entity formed)HQ Morristown, New Jersey, USAPlatforms Web, Desktop, Mobile, API

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No integration. QuantWheel cannot read accounts at Lightspeed, so you cannot use it with QuantWheel.

Fee per contract
$0.50 per contract
to open a contract
Exercise and assignment
$15
per event
Approval
Naked
up to naked short options
Margin rate
10.00%
on a $50,000 balance
Countries
US and non-US residents (non-US needs $5,000; no country list)
from the broker's own pages

What you can trade

From the options agreement

  • 0DTE (Not published)
  • Index options (SPX)
  • Options on futures
  • Spreads in an IRA (Not published)
  • Portfolio margin
  • Paper trading
  • 24/7 support, not offered

PlatformsWeb, Desktop, Mobile, API

Cost to open

Per-contract fee only

One cash-secured put1 contract
$0.50
Ten-lot iron condor40 contracts
$20
Twenty covered calls20 contracts
$10
One turn of the wheelput assigned, call exercised, 2 contracts
$31

Exchange fees and per-order minimums are extra where the fee schedule has them. The wheel row adds the two $15 events.

What Lightspeed costs for the way you trade

A year of fees from Lightspeed's published prices, checked 7 and 8 October 2026.

How you trade
8
1
$1.20
Lightspeed standard price$3.70 a trade, 3.1% of your premium
$355 a year
Among 21 brokers open to residents of the United StatesLowest is Firstrade at $3.67 a year, plus small regulatory fees it does not publish
19th

Not counted because Lightspeed does not publish them: clearing fee, FINRA trading activity fee.

Compare every broker for this pattern

QuantWheel

Not connected

No integration. QuantWheel cannot read accounts at Lightspeed, so you cannot use it with QuantWheel.

Connect Lightspeed

Fees explained

What each line of the fee schedule means for an options order

Lightspeed

$0.50 per contract, charged on each leg. A ten-lot iron condor is 40 contracts, so $20 to open, and the same again if you close it before expiry. Exchange fees and per-order minimums are extra where the fee schedule has them.

$15 per event, on top of the per-contract fee. A cash-secured put that is assigned costs $15, and the covered call that is later exercised costs $15 again. Closing the option before expiry avoids both. Cost to open

The options agreement approves up to naked short options in a margin account. It does not publish whether spreads are allowed in an IRA. Portfolio margin is offered.

Offered.

What changed at Lightspeed

Every fee, term and policy we track, with the day it moved

No change recorded since the last check. A change to a fee or a rule appears here on the day we record it.

Questions people ask

Answered from the documents above

Lightspeed

No; QuantWheel cannot read accounts at Lightspeed. Connect Lightspeed

$0.50 per contract, and $15 per exercise or assignment, from the fee schedule checked 8 October 2026. Exchange fees are extra. Compare fees across brokers

It does not publish whether 0DTE trading is allowed. Index options such as SPX are offered. The options agreement approves up to naked short options in a margin account. Brokers for 0DTE

US and non-US residents (non-US needs $5,000; no country list), according to Lightspeed's own pages. Check with Lightspeed before you open an account. Brokers by country

Facts from Lightspeed's own fee schedule and options agreement, checked 8 October 2026.