The hardware and software needed to perform transactions are both provided by Lightspeed Retail, a cloud-based POS solution for shops. It has robust inventory management features, allowing business owners to keep tabs on products across stores, customize offerings, and place orders directly from vendor catalogs. More established small companies, such as clothing chains or other retailers with several locations, are a suitable fit for the product.

POS Lightspeed Overview

Features of Lightspeed Retail POS are tailored to the needs of stores with moderate to high foot traffic. Among these are a system for keeping track of stock and an online storefront. When you include in the POS system's user-friendliness and adaptability, it's clear to see why we gave it such an excellent rating.

Lightspeed has received some criticism for its reluctance to fix minor flaws in its software, which is surprising considering the company's focus on remaining at the forefront of POS industry trends.

Advantages

• Depending on the types of trading instruments and features you're interested in, you may pick from various trading platforms provided by Lightspeed.
• If you trade a significant volume each month, you may qualify for Active Trader Commission Group pricing at Lightspeed, which begins at just $0.001 per share & $2.50 per trade on equities, $0.20 per options contract, plus $1.29 per contract/side for futures.
• The order router used by Lightspeed is relatively quick. The system employs a custom algorithm to achieve optimal execution by cycling through several exchanges and paths.

The Cons

• The minimum deposit for a Lightspeed Trader account is $25,000. Lightspeed WebTrader accounts need a minimum of $10,000, or $25,000 if you are a pattern day trader (PDT).
• Those who don't trade enough to qualify for the reduced fee must pay the following: $0.0045 per share or $4.50 per trade for stock and ETF trades; $0.60 per options contract; and $1.29 per contract/per side for futures.
• A $25 monthly fee will be assessed for accounts with balances of less than $15,000. A lack of bond and mutual fund options may make the broker less appealing to casual clients.

Usability

Lightspeed has an easy-to-use website that allows you to sign up for an account in minutes. As part of the account creation procedure, you'll be asked to provide basic personal information, decide which trading platform you want to use, and choose a trading account type. Through a series of questions, you'll also be asked to identify as either a professional or an amateur trader.

Trade-Related Knowledge

Its primary trading platform, Lightspeed Trader, is user-friendly and adaptable. You may quickly toggle between the stock and options trading views by clicking two buttons at the top of the screen. Tools like scanners, watchlists, time/sales data, Level II data, risers/fallers, and the brief locate capability may all be accessed through easily accessible windows.

There is a reasonable number of chart types and time frames, but just a few technical indicators and sketching tools. You may tailor your order with the many customization options and speed it to the market with the several shortcut keys and trade defaults.

Varieties of Orders

On Lightspeed Trader, you may place "if touched" orders, and the Eze EMS platform allows for "one cancels the other" orders. The online and mobile platforms only support the market and limit orders, which might be restrictive.

Orders may be entered concurrently in Lightspeed Trader and Eze EMS, and orders can be staged for subsequent input on Eze EMS. Closed positions revert to FIFO order if a tax lot is not specified during the trade.

Trading Platforms

When shopping on Lightspeed, you may choose from more than 20 stores and venues, including multiple dark pools, to send your purchase directly there. Lightspeed's smart order router is another option; it employs a proprietary algorithm optimized for optimal execution by switching between many exchanges and routes.

It employs a sequential router to process orders most of the time but spray technology when it has to. Overall, order processing times should be pretty short. According to a corporate representative, the order router's primary focus is increasing execution speed, but it also actively looks for ways to reduce costs.

Costs

Lightspeed has several commission structures, each tailored to a client's individual trading needs. Commission discounts are available through the company's Active Trader Commission Group, provided your monthly trading volume meets certain minimums. Prices vary from $0.0010 per share to $0.0045 per share depending on monthly volume and from $2.50 to $4.50 each trade, based on monthly volume.