Lightyear or Tastyworks – which is better for UK traders 2024? Compare Lightyear and Tastyworks in this detailed breakdown of their platforms, features and fees.
Lightyear is a trading app that offers multi-currency investing with low-commission US, EU and UK stocks, no commission on ETF trades, and the chance to earn high interest on uninvested USD, GBP and EUR. The firm launched in 2015 and UK retail traders will be registered under the Lightyear Financial Ltd entity. This company is authorised and regulated by the Financial Conduct Authority (FCA), license number 955739. Capital at risk
tastytrade is an award-winning brokerage, launched in 2017. The brand specializes in futures, options and stock trading with US and Australian regulatory oversight. The proprietary trading interface, designed by the creators of Thinkorswim, is powerful with plenty of integrated tools to suit active traders.
Capital at risk
Pros
Lightyear offers a user-friendly trading app with thousands of global equities
The investing app has been featured in the Financial Times & CNBC
Low-cost trading with no hidden fees or inactivity penalties
Traders can earn interest on uninvested cash
Low starting deposit of just $1 for new investors
Transparent pricing model including a $1 commission on stocks and ETF options, with maximum limits per leg for some assets
Wide range of asset classes including options, futures, stocks, ETFs and indices with the majority available to trade 24/5
Good choice of account types suitable for various investment goals including IRAs and individual/joint trading accounts
Powerful proprietary platform with detailed insights, real-time trading videos, and order adjustment features
Excellent regulatory oversight from FINRA, NFA and ASIC with SIPC insurance for US clients
Cons
Platform features are basic and won't meet the needs of seasoned traders
Limited range of instruments with no forex trading
No demo account for prospective users
No MetaTrader 4 integration
No copy trading service
Less suitable for beginners with no demo account and basic educational resources
tastytrade offers a small selection of cryptocurrencies, available to trade as long positions only. This includes Bitcoin, Ethereum, Litecoin and Dogecoin. But with a narrow suite of digital currencies, it isn't the best pick for high-volume crypto traders.
