Online Trading Academy Reviews
37 ‘Online Trading Academy’ Reviews
I attended the free seminar, and as already disclosed by others, they pull you out of the room to give you a sales presentation to sign up. That's fine. However, it was definitely high pressure and the cost is not minor. The thing I would recommend to everyone is to ask for proof that their method works. Think about it, they're selling, for a large amount of money, the hope (not a promise, not a guarantee, and not even the product) of making a lot of money. The obvious response is show me your Schedule C amounts for the past 3 years so you can see how much is at least possible. While you may not expect to make what they, the experts, made, it does tell you what the potential is. If they won't reveal their Schedule C amounts, then walk. That means they're only selling you words, a sales pitch, a hope. It's like being sold a car by description by some guy in an office but you can't see the car, you can't drive the car, you just have to take their word for it. Take your time to think about the decision. Believe me, they're not going to turn you and your money away later if you come to the decision to enroll after taking time to think about it.
Although I thoroughly enjoyed the 3 day orientation classes(solely because I liked the instructor), I still left with a very,very,VERY BAD taste in my mouth with this academy due to how the "counselor" acted throughout the 3 days. Once you sign up for their 3-day orientation, you are assigned an education counselor. Turns out what they really strive to do is to get you to sign up for their 20K - 55K courses. During breaks on those 3 days, they have what they call a "coaching session" in which, ironically, there is no "coaching" involved at all. It is simply a sales pitch by your counselor and they will go to the ends of the earth to try to get you to enroll. They present financing options, 25% down and 17% interest or dissecting the program into smaller chunks so you can get the foot in the door with the locked-in discounted price and what not. the prices are still through the roof. as the days progress these coaching sessions get more and more aggressive, and sometimes it will even eat into your class that you actually PAID FOR to learn and get some information. I find it so selfish and disrespectful of them to waste my time and money by disrupting my learning I righteously paid for like that. I get it, getting that 20K out of me is whole lot more profitable for them than $200 they already got, but it is still my money that I spent on them. It certainly does not give them any right to yank me away from my classes from time after time. It got REALLY annoying at the end. They finish the last day with their final sales pitch which what they call is a Jump Start program, still 4K asking price with down payment and monthly payment blah blah....here is the thing that bothered the most though. THEY RUSH AND RPESSURE YOU TO ENROLL. their offer is cutthroat now or never. you have to make this decision that is tens of thousands of dollars in 3 days. If you're that decisive or have that kind of money lying around to invest, great. personally, money is severely tight at the moment and I tend to take a lot more time thinking about my options and choices before making a decision. You discuss this with your "counselor" before coming into this orientation by the way. They spend about half an hour talking about your goals and current situation and what your decision making process looks like. Despite of that, my counselor acted so condescendingly and acted as though this academy is THE ONLY WAY to learn about trading, and I am just making excuses not to commit to this new opportunity, and she just made a FIRMLY BIASED judgement how I will never get into trading since I am passing up on the enrollment that I just HAVE TO MAKE RIGHT NOW. EXCUSE ME CHELSIE, but when I have 2 different student loans and rent
Once you sign, you'll be the cow to milk, there is no light in the end of the tunnel. They will begin by making sure you're naive enough to fish you into the net and than you'll be the only fish in a tank of sharks. Good luck!
I saw red flags all over. They never talk about cost. I left this 3 hour waste of my time and turned on the radio only to hear this same guy "Scott" someone who owns this Milwaukee franchise on the radio attempt to sell listeners the same exact "script" I just sat through. Ridiculous. Read the reviews on how this is a money grab.
I’m going to share my own experience with trading and OTA (Online Trading Academy) mentioning that my goal is to be a full-time trader. Currently I’m working as sr. software engineer at brokerage firm in Europe.
I’m following OTA years ago but I didn’t join it at that time cause of the cost. So, I decided to educate myself and took some other courses but I always felt that I miss somethings because my trading results wasn’t that good. So, a year ago I decided to join OTA but really slowly to evaluate my education investment mentioning that I have some trading experience or at least that’s what I thought. I enrolled only in one course with OTA which is Core Strategy. After I finished it, I gained huge amount of information which I didn’t know before. After that I decided to continue with the other courses like Futures, Options and MasterMind program. Thanks for OTA team. They helped me to arrange my education track to fit with my plan and provided me with all the tools and ideas to reach my goal as quickly as possible. When I joined MasterMind program, I figured out there are information, trading ideas and trading strategies more than I would ever think about. For sure I’m so happy with my education investment because my trading results started to become better. I’m also busy with developing my own automatic trading application. Thanks again OTA. Now I’m at the end of my track but do you think the education stops here? No, the best thing in OTA is that they have community of students, experienced students and instructors which provide new trade ideas and strategies and discuss it every single day.
Finally, Trading is like any career, you need to invest time, effort and money to reach your goal. If you want to take trading as your career, become part-time trader or to increase your income so, OTA is excellent choice.
I do not recommend this service “Education ???!!!” to any one either naive or educated in the market.
1. Very structured and organized scam. The what they name consultant is really a very trained salesman to take your information and push the deal in very aggressive way. He refused to give me a copy of the contract I have to sign with the OTA school when I asked him that I want to show this contract to my accountant or lawyer. I think if anyone has to sign a $55000 contract it needs some thinking, search and legal advice.
2. When I ask for more time to think and gather more information the consultat text the supervisor (they call him in OTA Senior Educator) how came and he was really impressive by his very rude way. Then he did not let me continue the third day and escort me out of the school.
3. I send a letter to the school president and he call back and stated that he was not in school every day to know what going on but it is hard to believe that because if you see and hear the confident way and behavior that the “Senior Educator” and the “consultant” talk you know this is not the first time they have done this and they really have the green light from the top.
I do not recommend this school to any one beginner or educated. I have many friends (all of us have university education and have large trading account to work with) in different states in US who also attend the three day course and have the same opinion.
Just be carful and do your homework in searching for trading education.
I'm posting this as like so many, I feel aggrieved at the service I received from Online Trading Academy.
Firstly, I signed up for a 'free' seminar that was hosted by a gentleman who wouldn't be amiss on TOWIE....gave him the benefit of doubt as the Councillor 'salesman' was fairly knowledgeable.
I paid £200 for the all important next stage.
3 days at the same tired, old, depressing looking industrial unit.
I was constantly bombarded with calls and emails prior to the 3 day event. I was asked to complete a very intrusive questionnaire type thing that I found very odd. I was also grilled by my newly assigned 'counsellor/coach' (they couldn't even make up their mind as to what they were called. Let's call them sales prevention officers for the time being.
So, I attend the 3 day selling event where I am very entertained by the seemingly knowledgeable presenter. He doesn't want us to get screwed over and showed us how we could be earning millions in the next 2 years by following their patented (but not in the UK) methodology.
All this comes at a cost that would make even the Hinduja family wince.
My coach, Jordan, was clearly not making any money from trading as why would he dress and look as he does and waste a weekend working to 'not sell me' this amazing education. Oh, hello, are you stupid guys. If he could make £200k pa trading do you think he'd be wearing battered shoes, terrible hair cut and even consider wasting his weekend working.......
A special mention must go to Pearl or Opal or Gem...can't remember her name but she is the 'finance' person. What an absolutely rude, unhelpful and utterly ridiculous consumer facing employee. She alone was enough to put me off.
Big red flag from me. Not sure their selling techniques are even legal particularly their financing over promising.
Waste of money and time.
Had a cursory look at their accounts and they have filed losses amounting to over £2m during the last few years. Maybe the company itself should practice what it preaches and trade those very substantial losses away.
Core Strategy delivered what it promised. It was a very structured methodology that, if followed, should produce results. The instructor (Larry Johnson) was great. From the very first class to the last there was no doubt that he really cared about the students and wanted them to learn the information. The support system online and live that comes with the tuition is phenomenal! Lifetime retakes (OTA has been around for 20 years) and an incredible online library of proprietary videos and articles are available to ensure the opportunity to succeed. For anyone with sticker shock on the price, as a person with a finance background, if you get your investment returned in 6 months of trading with a lifetime of profit after that, it is worth it. BUT...you have to commit to the process and stick with it.