Lightspeed Trading, LLC has completed integration of TipRanks’s rating tools, which ranks analysts and financial bloggers based on their picks’ performance analysis, in a bid to provide its clients with new research capabilities.
Lightspeed Trading, a FINRA and NFA member, is headquartered in New York City and provides brokerage services to professional traders, proprietary trading firms, and hedge funds. The firm’s client base covers traders of stocks, options, futures, and ETFs through its Direct Market Access(DMA) technology.
Within the platform itself, as well as the client area, Lightspeed’s clients will obtain all the information they need to know to make educated investment decisions. TipRanks virtually creates a ‘financial accountability’ engine that collects the digitally published stock recommendation and ranks over 6,500 analysts by performance so that investors can see their success rate.
Does the research for you!
More specifically, TipRanks provides Lightspeed’s traders real time access to see the track record and measured performance of any stock analyst, blogger, hedge fund, or corporate insider dating back to January 2009. The company offering shows the performance of anyone who provides financial advice simply by searching for his name which allows users to see what analysts consistently outperform the markets, get real time recommendations, and more.
There are a few platforms that offer their clients similar services, like Covestor, but the Tel Aviv-based company says it is the only one that tell potential investors how reliable the rating is by calculating how profitable ratings from this analyst have been in the past. This allows new comers to follow the lead of others who are obviously more knowledgeable and better informed.
Interestingly enough, the product can identify the top 25 experts within each sector who consistently outperform the markets. As shown below, it lists top rated stocks for the day by the top 25 Street Analysts.
The platform is offered on a monthly subscription through two different packages. The first is their Premium Plan, which is designed for individual investors and is priced at $29.95 per month, while the Ultimate Package is priced at $49.95 per month, both charged annually.
Kevin Ott, Co-president of Lightspeed Trading commented: “We are excited that we now offer our customers the research and tracking capabilities of TipRanks to all our customers. The TipRanks partnership is just another way we are making it easy for our customers to navigate the markets for more informed trading.”
“As part of our current global expansion we are very proud to be working with the team at Lightspeed and their strong client base in delivering powerful and comprehensive interactive research tools and guidance to investors,” added Uri Gruenbaum, CEO of TipRanks.