Olympus4X Review – Seamless Online Trading for Beginners
Introduction
Olympus4X is a champion in the online trading frontier, offering unique investment opportunities and tailor-made tools to enable investors to make the most of their efforts. It boasts highly intuitive trading platforms, subsidized pricing, excellent customer support, and diverse product offerings. While some consider it a beginner-level brokerage, Olympus4X also offers an array of perks to attract professional traders. Some active traders and seasoned investors may find its limited geographical coverage slightly restrictive.
Olympus4X At a Glance
| Minimum Balance | $0 |
| Cost per stock trade | $0 |
| Cost per options trade | $0.65 per contract |
| Commission-free ETFs | All |
| No-transaction fee mutual funds | More than 1,000 no-transaction fee mutual funds |
| Tradeable securities | Stocks, ETFs, Options, Bonds, Mutual Funds |
| Account fees | None |
| Mobile app | Android, iOS |
| Customer service | Phone, email, live chat |
Where Olympus4X Stands Out
Interactive mobile app
Olympus4X’s mobile app features a simplistic design, but it is a feature-rich platform that offers all the fundamental trading and investment tools. The broker has streamlined the features to simplify trading for beginners and casual traders. Olympus4X mobile provides interactive charts, custom alerts, calculators, asset screeners, and other tools to enable you to monitor your trades quickly.
Subsidized pricing
Traders on Olympus4X also enjoy below-average fees and commissions. The broker has zero account minimums, and its clients are also not subject to standard charges, such as account maintenance and inactivity costs. You also get to trade stocks and ETFs at no commissions. Olympus4X provides more than 1,000 mutual funds that also bear no transaction fees.
Great customer service
Olympus4X’s 24/7 customer service significantly affects the overall trading experience. They have trained and friendly customer support agents to respond to all client inquiries and concerns effectively and timely. You can always get in touch with them via phone, email, or live chat, with a guarantee of quick responses.
Pros and Cons
Pros
- Interactive mobile app
- Lower fees and commissions
- Exceptional customer service
- Well-organized educational resources
Cons
- Limited features and functionalities
- Trading restrictions on some securities
Areas Where Olympus4X Needs to Improve
In-app features and functionalities
Although Olympus4X mobile offers an array of fundamental trading tools and amenities, customizability is quite limited, and some functionalities need improvement. That could make it less attractive to experts.
Limited tradeable securities
Compared to most of its immediate competitors, Olympus4X offers a limited number of securities that may not sit well with seasoned investors or active traders who demand access to robust investment products.
Onboarding and User Experience
Olympus4X has featured on several review platforms, where it has continually attracted positive sentiments from types of different traders and investors. The broker supports a web version and a mobile app, all streamlined with similar tools and features. You can sign up through any of the two platforms in just a few simple steps. The zero account minimum policy means you do not have to fund your account immediately.
We look at different aspects of the platforms to determine the user experience. However, the trading tools and functionalities are the key areas that we emphasize. The fundamental features and account amenities supported on Olympus4X web and mobile platforms include charts, price alerts, screeners, calculators, research, multi-leg options, and news.
Trade execution is also much easier on Olympus4X due to its one-click trading application and smart order routing software. You can stage orders for later execution and set trade signals in real-time.
Fees and Commissions
Olympus4X boasts subsidized pricing with some of the lowest fees and commissions in the industry. The broker has eliminated minimum deposits, account maintenance charges, inactivity, and domestic wire transfer fees. Stock and ETF trades attract no commissions, and you can access over 1,000 no-transaction-fee mutual funds.
Options trades are subject to a $0.65 per contract fee. Other commissions and spreads apply mainly based on the chosen securities and your transaction volumes. Nonetheless, the rates on Olympus4X are well below the industry average. Check out their pricing schedule to view all the fees and commissions.
Our Take
Overall, Olympus4X has unique offerings to wow every potential trader and investor. Their clients can access interactive trading tools and amenities, excellent customer support, and diverse low-cost securities. While active traders and experienced investors can also take advantage of those perks, Olympus4X is best suited to casual traders and beginners.
