Review Lightyear
Founded in 2021, Lightyear is a UK-based broker that champions commission-free trading to make investing more accessible. It offers a straightforward platform for trading stocks and ETFs in various international markets, aiming to attract both beginners and seasoned investors. Lightyear stands out for its no-fee trades and commitment to transparency, ensuring users face no hidden costs. The platform provides real-time data and insights, empowering users to make informed decisions. Regulated by the UK’s Financial Conduct Authority (FCA), Lightyear combines security with innovation, striving to reshape the investment landscape.
Pros
- Free ETF trading and low-cost stock transactions
- User-friendly mobile trading platform
- Lack of inactivity fees
Cons
- Limited asset classes availability
- No educational tools
- Demo account is not provided
- Poor products selection
Review’s Keypoints
Country of regulation
UK, Estonia
Minimum deposit
€0
Time to open an account
1 day
Trading fees class
Average
Deposit with bank card
Yes
Number of base currencies supported
4
Products offered
Stocks
ETFs
Funds
Depositing with electronic wallet
Yes
Demo account provided
Not available
Fees
With no inactivity, account maintenance, or withdrawal fees, Lightyear ensures low stock transaction costs and commission-free ETF trades. It also rewards uninvested cash with high interest. However, credit card deposits above a certain threshold incur a 0.5% fee, alongside a 0.35% charge for currency conversions.
Pros
- Low stock commission
- Zero fee for ETFs
- No inactivity fee
Cons
- FX conversion
- Charges for credit card deposits
Account
Opening an account with Lightyear is quick, entirely online, and easy to navigate. Additionally, there’s no minimum deposit required to get started.
Account opening at Lightyear is primarily for UK residents, with ongoing expansion in Europe;
Individual
Individual
Offers global assets, low fees, and an intuitive platform for all traders
Joint
Joint
Corporate
Corporate
Available for Estonian private limited companies
Click on the card to see details
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01Download the app and fill in the personal details
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02Add your address and nationality
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03Add tax details
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04Detail your wealth sources
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05Complete verification with ID and selfie
Transfers
At Lightyear, instant card payments and diverse deposit options are available, including Apple Pay and Google Pay, with transactions requiring personal account ownership. Withdrawals are fee-free, exclusively via bank transfer, ensuring funds return to your own account within just 2 business days.
Pros
- Withdrawals are free of charge
- Several deposit options
Cons
- Withdrawals available exclusively via bank transfer
- Limited base currency options
- Post-limit card deposit charge
Trading Platforms
Web Trading Platform
Lightyear's platform is user-friendly and secure, with two-step login, but lacks customization and price alerts, offering only market orders. The search feature is robust, supporting asset name, ticker searches, and filters for various asset classes and markets.
Mobile Trading Platform
Lightyear's mobile platform is intuitive and visually appealing, with efficient search and categorization but lacks advanced order options. It supports alerts and notifications.
Desktop Trading Platform
Offering
Tools
Trading Ideas
Lightyear provides curated trading ideas, offering insights based on market trends, expert analysis, and tailored recommendations to help traders identify potential opportunities and make informed decisions.
Analyst Ratings
Lightyear offers analyst ratings, delivering expert evaluations and insights on various assets, helping traders gauge market sentiment and make well-informed investment choices.
Fundamental Data
Income statements and fundamental financial metrics, such as P/E ratio and EPS, are available. Access to past earnings calls with audio is also conveniently provided.
Charting
Charting capabilities at Lightyear are limited, lacking any technical indicators. Only a fundamental price chart is available
News Feed
Lightyear aggregates news from leading sources, including Barrons and CNBC
Regulation
Lightyear is regulated in Estonia by the EFSA and operates under indirect UK regulation via RiskSave Technologies Ltd, authorized by the FCA. Its US stocks are protected up to $500,000 by SIPC through Alpaca Trading, while non-US assets and cash are covered up to €20,000 under Estonian investor protection. Lightyear is seeking direct FCA licensing.
Bottom Line
Lightyear is designed for mobile users, offering a straightforward platform for trading stocks and ETFs. It stands out with its commission-free ETFs, low stock trading fees, and attractive interest rates on idle cash.
Setting up an account and conducting financial transactions is made easy with their practical app. However, it’s worth noting the platform doesn’t support a wide array of assets like options and mutual funds.
Lightyear offers customer support solely through email, and provides only basic educational and charting resources.
For those interested in earning high interest on uninvested cash, navigating a user-friendly mobile platform, and enjoying low fees, Lightyear presents a viable option.