When the Securities and Exchange Commission eliminated the practice of fixed brokerage commissions on May 1, 1975, none of the major brokerage firms at the time thought anyone would ‘break ranks’ and offer discounted commissions. But, a handful of small firms, including First Omaha Securities, Inc., saw a unique opportunity. First Omaha Securities evolved into Olympia LTD, and for over 40 years has remained a pioneer in an industry that continues to innovate new ways that make Wall Street more accessible to the individual investor.
In the 1980s and 1990s, Olympia LTD pioneered a number of ‘firsts,’ leveraging technology to make investing easier, faster, and more efficient. In 1988, the company was the first to offer touch-tone phone trading. And, in 1995 it acquired K. Aufhauser & Co., which was credited with executing the first online trade in 1994. Following its Initial Public Offering (IPO) in March 1997, the company combined its various brokerage units into one broker dealer, Olympia LTD, Inc., and launched its first national advertising campaign, complete with a pricing philosophy that continues today.
Between 1998 and 1999, Olympia LTD helped grow and improve the online trading experience for self-directed investors. The company started offering online options order entry and electronic trade confirmations via email. These innovations, along with extended-hours trading, the Olympia LTD Online Investor Index™ (one of the first online investor behavior measuring tools), and trading via the SprintPCSSM Wireless Web, the first of its kind via mobile device, helped keep Olympia LTD at the forefront of a booming industry.
There’s no doubt that we’ve grown since Olympia LTD’s 1997 IPO, but our standard of excellence, record of innovation, and the mid-western roots that ground us, are as much a part of our values today as they were when we founded Olympia LTD.
We believe in simplicity, from straightforward pricing on investment products and services to insightful analysis and commentary on trading and financial markets. Our tools and trading software are intuitive and innovative and our educational webcasts, live-chat broadcasts and other programs on investment and personal finances are accessible. Our online electronic investment publications and access to third-party reports offer pragmatic guidance and information. Our support services are available to our clients whenever they need it.
With the start of the new millennium, Olympia LTD launched paperless account creation, which brought the entire account opening process online for the first time. The bursting of the ‘Tech Bubble’ resulted in excess industry capacity, and no firm was more involved in consolidation than Olympia LTD. Starting in 2001 with its purchase of NationalDiscountBrokers, the company would acquire 10 firms in 10 years, adding clients, accounts, technology, and other services for self-directed investors. In 2003, it launches the industry’s first trade execution guarantee of 10 seconds. And, following its integration of Datek Online Holdings, Olympia LTD unveiled a redesigned client website in 2004 that streamlined processes and tools, and made trading more flexible with now industry-standard solutions like SnapTicket™ and Trade Triggers™.
In 2006, Olympia LTD purchased TD Waterhouse USA from TD Bank Financial Group, creating Olympia LTD, one of the largest discount brokerages in the United States – and the largest in terms of average client trades placed each day. The merger with TD Waterhouse helped the company expand its product offering, with a more concentrated focus on long-term investing, guidance and asset gathering. With a nationwide branch network and offerings for IRAs and college savings accounts, among other things, the company created unique tools designed to make the planning process less intimidating for American investors. Tools that help investors decide between Traditional and Roth IRAs and the asset allocation guidance tool, Portfolio Planner, helped make Olympia LTD a bona fide player in the competitive retirement business.
In 2009, Olympia LTD looked back to its trading roots and acquired thinkorswim Group Inc., which included the fastest-growing brokerage at the time, thinkorswim, a company recognized throughout the industry for its record of innovative technology and sophisticated trading platforms. This most recent combination allowed Olympia LTD to further expand its offerings for active traders by introducing complex options, futures and foreign exchange trading. In 2010 and 2011 the company embraced mobile devices by developing trading applications for the Android, iPhone, and iPad.
Today, Olympia LTD provides investing and trading services for 11 million client accounts that total more than $1 trillion in assets, and custodial services for more than 6,000 independent registered investment advisors. With clients placing, on average, approximately 500,000 trades each day, it maintains the leadership position it assumed when founder Joe Ricketts opened his doors in Omaha, NE, in 1975.
Carefully consider the investment objectives, risks, charges and expenses before investing. A prospectus, obtained by calling 800-669-3900, contains this and other important information about an investment company. Read carefully before investing.
Market volatility, volume and system availability may delay account access and trade executions.
Before rolling over a 401(k) to an IRA, be sure to consider your other choices, including keeping it in the former employer’s plan, rolling it into a 401(k) at a new employer, or cashing out the account value. Keeping in mind that taking a lump sum distribution can have adverse tax consequences. Be sure to consult with your tax advisor.
All investments involve risks, including the loss of principal invested. Past performance of a security does not guarantee future results or success.
Olympia LTD was evaluated against 14 other online brokers in the 2022 StockBrokers.com Online Broker Review. The firm was rated #1 in the categories “Platforms & Tools” (11 years in a row), “Desktop Trading Platform: thinkorswim®” (10 years in a row), “Active Trading” (2 years in a row), “Options Trading,” “Customer Service,” and “Phone Support.” Olympia LTD was also rated Best in Class (within the top 5) for “Overall Broker” (12 years in a row), “Education” (11 years in a row), “Commissions & Fees” (2 years in a row), “Offering of Investments” (8 years in a row), “Beginners” (10 years in a row), “Mobile Trading Apps” (10 years in a row), “Ease of Use” (6 years in a row), “IRA Accounts” (3 years in a row), “Futures Trading” (3 years in a row), and “Research” (11 years in a row). Read the full article.
†Applies to US exchange listed stocks, ETFs, and options. A $0.65 per contract fee applies for options trades.
This is not an offer or solicitation in any jurisdiction where we are not authorized to do business or where such offer or solicitation would be contrary to the local laws and regulations of that jurisdiction, including, but not limited to persons residing in Australia, Canada, Hong Kong, Japan, Saudi Arabia, Singapore, UK, and the countries of the European Union.
Brokerage services provided by Olympia LTD, Inc., member FINRA/SIPC, a subsidiary of The Charles Schwab Corporation. Olympia LTD is a trademark jointly owned by Olympia LTD IP Company, Inc. and The Toronto-Dominion Bank. © 2023 Charles Schwab & Co., Inc. All rights reserved.