Online Trading Academy Reviews

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8 ‘Online Trading Academy’ Reviews
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1 Review

Don't Do It!

Reviewed By Steve Cooper on November 17, 2015

Are you thinking that trading would give you a flexible life style...working from anywhere with an internet connection? Are you thinking that FOREX or Futures may add $$ to your monthly salary?
Are you thinking that the OTA patented supply & demand strategy is the formula to succeed in the stock market? Friend, there is no free lunch in the market. Don't do it please. I have learned the hard way. Total of $23k in tuition, plus $10k to open a Futures account. I have been trading for 18 months and have not yet made a penny! Don't do it.

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Total ripoff $23,000 of total sells job

Reviewed By Steve Karb on April 22, 2015

Total rip off. They are out for your wallet. Go to Youtube to learn stuff for free.RIPOFF, RIPOFF,RIPOFF

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1 Review

Power Trading Workshop - aggressive & baseless marketing

Reviewed By Jay on December 14, 2014

I attended this seminar. I was promised that I will learn more about forex, futures if I come there. Since I already have experience of trading for 7 years I do not want to spend traveling and time in just attending inspirational talk on why to learn trading.

Entire class was just a 2-3 hour talk on why I should take a 3 day class of 299$ which is just more of basic teaching with no practical on online trading.

I asked for brochure at the NY center near Wall Street (42 broadway) and they said, they dont have one. The guy went on being rude saying, I dont need to market you. He kept saying, I am wasting my time with you. I had to explain him the reason I came and I am not there to shell out 299$ just because I can afford it. I would rather give it to some homeless guy.

He then apologized to me, and then gave me the rates of the other classes. So, I learned that the 3 day class of 299$ is just another TRAP for 14000 to 65000 worth of more courses. This is stupid. I would not give that money to some mediocre traders who can teach me basics of trading.

In short, please dont waste your time on ONLINE TRADING ACADEMY. They are just interested in $. IF they knew trading, they would make the money of the trades themselves and not ask for 65000$ from you. Simple Logic!!

I am glad I didnt spend a penny on them. There are many other sources for me to learn trading. One can easily open PAPER MONEY / fake-money accounts and learn various strategies. There are videos, books, and other courses offered by various institutions and trading platform (thinkorswim etc.)


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Reviewed By Tom H. on April 15, 2013, CT

I only hope I can save someone from this awful experience! 15k later and 3 yrs. Don't even step into one of their education...I Mean " SALES OFFICES".

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April 30, 2013

Hey Tom...Would it be OK with you if I called you to chat about your experience? I'm considering joining...but prior to doing so, I'd like to ask you a few questions and run something by you. Thanks...

April 22, 2015

Online Trading is a total ripoff. Go to Youtube and learn for free instead of paying $23,000 for 10days of someone watching u trade.

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Online Trading Academy SCAM

Reviewed By Tomatoes on April 11, 2012

SCAM! Although not new, Online Trading Academy based out of Irvine, Ca pretends to offer investment/trading education across multiple asset categories like stocks, options, futures, commodities, forex and real estate.

The cost is salty beginning at $5,000 for their basic course and up to $10,000 per mentoring class and $65,000 for their passport programs.

They have been running informercials on late night tv much like the now defunct Teach Me To Trade. More recently they are using apparently bogus testimonials on the internet posted by apparently paid shills and OTA employees.

They even have their own website which implies that it is a 3rd party review site. An obvious clue is the raving five star reviews which all look like they were written by the same person and that other accurate, but not so positive reviews are blocked and deleted.

OTA will lure you to their facility to attend a Power Trading Workshop, ostensibly a 1/2 day workshop which really only lasts about 3 hours, time for lunch and registration included.

Calling it a workshop is quite a stretch. It is a blatant sales pitch much worse than any time share presentation.

The course includes primarily basic t/a which can be found in any inexpensive book or even free on the internet.

They claim to offer a one time $2,000 schlorship discount for that day only. This is a lie.

They also promise lifetime retakes. But their class room only seats about 20 people and they are constantly pushing for more clients. Where will they put everyone? FACT: Most clients quit in frustration and even though classes and workshops are listed as "sold out", there are more often less than half full and cancelled.

And they also promise tuition reimbursement. (Don't you love the way they throw around those educational terms to make them sound like a real school?) Here again, read the fine print and really check them out. You know what they say about when things sound too good to be true.

On some websites where complaints have not been deleted, supposed company officials post rebuttals and challenge anyone to contact them at their corporate offices in California. The number is a toll number, not toll free and those who have called find it links to a voice mail and after leaving multiple messages, no one returns the calls. So much for help from corporate.

OTA also seems very upset about the increasing number of complaints appearing about them on the internet and are now charging complaintants as being people who work for the competition, frustrated, lazy students who wouldn't take the time to follow their courses, deadbeat clients who defaulted on their loans (18% interest, t hey may be right on this one!) people whose credit cards were denied and disgruntled former employees.

Before it was called Online Trading Academy, it was called bloc securties, then momentum securities, then Newport Beach securities. In Orlando, the local office ownership has changed hands five times in a few years and has had massive employee turnover.

Many of OTA's offices are located in right to work states which means that employees were probably treated unfairly so there probably are a lot of unhappy ex employees out there for sure.

However, one thing that Online Trading Academy doesn't want to admit is that they have a lot of unhappy clients and whatever is showing on the internet pales compared to what goes on in the local offices where clients are many times screaming at Online Trading Academy staff for their wrong doings and high pressure sales tactics.

Stay away from these guys

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Ever been to a used car dealership? Yeah well this is just like it...

Reviewed By C. Fernandez on February 12, 2012, Haciebda Heights

So my husband comes home after spending a half day on a Saturday attending this "free" seminar to learn about trading. He is all excited and talks about how he will be learning how to make money blah blah blah. What's the catch?'s going to cost you between $6-12K! WTF? Are you serious? So basically I have to either get in debt, borrow money, rob a bank, or sell my soul to finance this? My husband was so excited about the "program" until I made him get on the Internet to research the reviews about OTA. Guess what? BAD REVIEWS left and right. So I’m adding to that bc at the end I finally got my husband to admit that he felt like he was at a used car dealership. After the free presentation they take you aside and practically twist your arm to commit to their 7 day class. Even when he protested that he needed to discuss this with ME his wife they told him to put down a deposit to get the ball rolling. Bottom line don’t waste your time, money, or effort on this. If something is too good to be true it usually is. I feel badly for the people that let a good sales presentation con them out of their saving and hard earned money. While it may take money to make money you shouldn't have to be in debt or go broke to get there.

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November 13, 2012

So things must be very good for you when you feel like it's selling your soul to finance $6,000. I like how you would post this without even stepping into a campus. Most people that post bad reviews on the internet do not even attend a course. Here's a website with actual testimonials FROM REAL STUDENTS. not people who think that investing in a business you should start for free.

Scammed Again
May 10, 2013

The place is scam and will up sell you until you are blue in the face.

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Very unprofessional

Reviewed By Dave Adams on December 20, 2011, Orlando, Fl

As if Americans are not suffering enough financially alomng comes a company that promises to bilk even more money from innocent, naive people seeking an easy way to wealth.

Online Trading Academy promises to "transform lives" and indeed they do, but not for the customers benefit.

The core of their programs are basic, well known t/a with some fundamental analysis. You have to attend a 7 day class with mediocre trainers who actually make their living teaching not trading. Although they will tell you otherwise.

The staff is made up of mr Wade Cook, Wize Trade, Optionetics, Larry Pino and other failed companies.

Your cost for the introductory program is a mere $5,000 and they will do everything possible to upsell you to a XLT program fro another $10,000. The programs are basically useless and students lose money.

They were advertsing heavy on tv with informercials ala Teach Me To Trade and now seem to be resorting to fake raving five star reviews and even have their own review website which they want you to believe is a nuetral third party..

Programs are not worth $100 let alone $5,000. Best advice is to stay away from OTA.

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February 09, 2015

Aside from any factors relating to the Online Trading Academy (but note that they don't tell you any of what follows as they try to reel you in), the more I look at this kind of trading, the less I like it. In fact this seems to me to be more like gambling than investing, with the potential for huge losses more likely than huge gains. It also appears that to have even a chance at being successful, it requires a large investment in computers, monitors, software, ultra-reliable ultra-high speed internet connections and a willingness to lose the minimum $25,000 that is required to open a day trading account, and perhaps at least another $25,000 as that minimum must be constantly maintained. The Securities and Exchange Commission describes day trading as ”an extremely stressful and expensive full-time job.”

Contrast this to my own experience and expectations with a diversity of mutual funds at Vanguard. At a cost of spending about 2-4 hours a year, I’ve made just over 13% (compounded) a year on average over the past five years. I don’t think that’s likely sustainable over a long period of time. However, I think that 8% is a conservative estimate of what is. Of course it’s going to be much more than that in some years, and negative in others, hence some of the strategies (see below) I have for being able to take out a consistent 2% of some sort of average balance to supplement my retirement income without ever having to sell low. That should in addition, allow me to beat the following projection based on earning 8% every year and spending 2% of it every year, namely that after years 1-12, my balance at Vanguard should fluctuate around: 1.06, 1.12, 1.19, 1.26, 1.34, 1.42, 1.50, 1.59, 1.69, 1.79, 1.89, 2.01. Note in addition that this implies that the supplement to my income keeps increasing and that in year 12 I’ll be taking out twice as much to supplement my retirement income. Of course there’s a cost to this strategy: I’m keeping about 5% of my investments outside of Vanguard in CDs and checking accounts to make certain that I can ride out even an extremely unlikely 10 year market downturn without lowering my standard of living or selling low. This works partly because dividends and distributed capital gains have typically run about 2%, and I’ve never seen them (eg., post 2008) lower than 1%, so it’s the 1% shortfall I’m prepared to cover for 10 years.

Here are some references on day trading:

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Have any of you previous reviewers actually been to a course?

Reviewed By Ann Dougherty on July 19, 2012, Kansas

I have attended basic and forex courses at the Kansas City OTA, and found them very helpful and learned a lot. I had done online trading webinars with various people, but found they tended to give you tips without explaining fully how they arrived at their decisions. The trainers at the OTA gave me the missing pieces of the jigsaw puzzle so that I now have confidence I can do it myself.

Trading is not for everybody, since you cannot win all of the time, and psychologically you have to be able to manage losses and drawdowns emotionally. Disciplined risk management is far more important in success than the percentage of times you make the right decision at the right time. It is certainly not for gamblers, nor for widows and orphans. You really do need around $2,000 to start with, though it is possible to start with as little as $500.00 with some online brokers. You should always start with paper trading and do not go on to trading with real money until you are making reliable profits.

I am only just about to start embarking on my trading, so I cannot b oast of any great success yet. However, I am NOT an OTA employee or placed stooge of any kind.

What I can say is that discipline and hard work are essential to success. If you want to trade forex successfully, you need to be up at 2.00 a.m. CST, as the busiest time for forex is the European session. This is difficult for most people.

What I can also say is that, a group of successful students from Kansas City OTA have rented an office in the same building and rent their own desks for a monthly fee. The lady who runs the office gets into work between 6.00 a.m. and 7.00 a.m. Mon - Fri. She told me she made a $10,000 investment into her trading account and trading from this she makes a satisfactory salary. One of my new friends who was with us on our basic course was there on her first follow up course. It had not really clicked for her on her original course, but it did on that second one. Her husband told me she is doing very well now. Caveat, she gets up at 5.00 a.m. to get everything she has to do done and trade successfully at the same time!

I will agree with previous reviewers, though, that it is not a good idea to go into debt for this, and you should only go into a financing agreement if you know you can pay it off from your current income or capital. Trading scared is shooting yourself in the foot even if you are experienced, let alone when you are just starting. OTA perhaps works best for those who have already dipped their toes into investing and have some idea of what is involved.

I also accept that the model of large initial payments with lifetime use and re-education looks risky, as there is a need to keep new pupils coming in to keep the whole thing going. However, pupils who keep doing the re-education do normally click and do not need to come back for more. With re-education it is important to realize you may have to wait owing to the importance financially to OTA of keeping a proper balance of new students.

The other thing that OTA Kansas city, at least, provides is regular Wednesday evening seminars. Students who live sufficiently locally do regularly come back for this, which is a good group support network.

I promise to review on this further down the line, when I see how I do...

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October 31, 2013

Sounds like he does work for OTA.

Mark Bilby
September 14, 2014

It is tough to learn anything when they keep pulling you out of the classes so they can up sell you with their high pressure tactics. And then I had to listen to the guy belittle me because he said it was "pathetic " that some one my age had as little as I did in assets - and he wanted me to cash out my IRA to pay for their additional classes.

November 17, 2015

I have been an OTA student for 18 months now. 5 stars for their Options & Retirement Accounts trading strategy. Eric O. and Jose B. do an outstanding job. Now, Futures are a different story. Please shy away from it. Futures are not for beginners. I believed I could do it since their core strategy of trading futures is not difficult to learn. The result, I have lost half of my initial capital in futures. Bottom line is this: if you have a quarter million dollar account and can afford levels that are greater than $2k, then please go for it. However, most of us start with $10k or less. For little guys like me, there is no way I can make money using the OTA strategy. You will get stopped out all the time. Believe me.

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