Online Trading Academy Reviews

Overall great course and a great instructor. I did not feel pressured into committing to anything, as others have, but enjoyed my first course and look forward to taking others. Material was very easy to understand and our instructor was patient and quite knowledgeable.

Everything that Online Trading Academy says is deceitful and manipulative to make you buy into their programs, which are expensive and do not help you make money.

I received a banner ad on my facebook and i clicked and it was from the online trading academy. As i was looking for some trading advice, i thought why not give it a chance.

The call center called me a couple of times and promised to give a usb on trading. I went to the toronto office. Firstly you have to pay 10 dollars for parking.

The three hour free seminar is nothing but hog wash of information.

The presenter was not fond of rrsp's. I mean for most working people this is the only tax deductible. You contribute in your high earning years and withdraw in your low earning years.

The presenter was not fond of mutual funds. For those with small funds mutual funds offer a diversity and better access.

The presenter was not fond of real estate. I mean in toronto, real estate has tripled in a decade and become 10 times in 40 years.

The presenter makes a statement that you can make 200 dollars a day on a 5000 dollar account.

So this is their first catch. Also the high fees can be recovered by trading.

The first pressure tactics is to sign and pay a cheaper price of 299 for a three day seminar. The so called education counselor encircle around you. They are rude and do not give answers on what comes next, the cost of tuition.

After paying the 299, the sales guy calls me and tells me everything is customized for me and unique to my situation. He send me a income planner and i have to give all my personal information.

At the interview, he keeps asking me about my pain. He wants to know all my personal information that causes me pain. The why of being there.

After the interview i go to the three day orientation.

There are about 10 of us. After talking to most of them, they all feel pressured to buy.

The director and presenter give some sad stories of their why. If they are making all this money trading what are they doing working 9 to 5 on a friday, saturday and sunday. they reply trading is boring. So you are selling me something that is boring and will set me free, while you work weekends. Something is not right here.

I am given my education plan. I compare it with two other people. It is word for word. Here is another hoax. Everyone gets the same plan. buy into their master mind which cost 59000.

I ended up not buying anything. They made me feel guilty and brought up all the issues i had told them in the first place.

Not worth the hassle.

The materials presented provides a clear and complete introduction to trading. The step by step approach is easy to follow and provides a discipline that has been missing in my old approach to trading. I expect the quality of the trades I take in the future will far exceed those of my past. No more jumping into trades; if the detailed planning process does not support a trade it will not be taken.

This review is for the Toronto, Canada location which is corporate owned.

There are two reasons for this review. A friend of mine spent $34,000 on tuition and thought it was a joke. I then ran into someone who had applied for a job here thinking it was a 'Sales Executive' position. It turned out it was for a Education Counselor which was purely commission and promised anywhere from 150k to 325k.

I went to the so called three hour seminar which is supposed to be free. The presenter talks about how they will teach us to trade like the banks. This is nothing but a sales pitch to make us register for the next sales pitch.

Banks and institutions hire MBA, CFA and Phd's in mathematics for a reason. Also how come no bank has hired Online Trading Academy to train their traders.

The presenter said that students are making anywhere from 100 to 200 dollars on a 5000 minimum forex account. So, if the presenter who makes 10 presentations a week, and if he had 100k in his account, why is he not making 2000 a day instead of hustling.

The presenter was against RRSP and real estate. He did not like anyone asking questions. You had to listen to his memorized script.

They are looking for traders that are decisive, coachable and disciplined. They are testing if we are decisive by registering right away and pay $299. If we do not, the fee goes to 999.

The education counselor attack you like packs and ask you to register. Someone in front of me is asking a lot of questions and is pulled into another room.

I register and so does the person sitting next to me.

Later on we exchange phone numbers and keep in touch.

I get a call from the education counselor and talking about how they care for me and have no bias to my financial situation. They send me some homework to do and fill out financial information about me.

The other guy that i met, filled out the information. However, he did not have any money, so he is disqualified.

I fill out the information.

At my 'interview' the Education Counselor (EC) asks me lots of questions about my pain and why trading. He tells me all these amazing stories about how the students are making money. He does not give me stats. OTA is not qualified by the Government or the ministry of education for loans. OTA does not have any scholarships.

The EC is very happy that i made a decision to change my life. The fact that i do not know anything about trading makes me an ideal candidate. The fact that i have 20000 in my savings account, 20000 in rrsp, makes me a great candidate for them.

I go to the Market Timing Orientation. There are about 12 of us. The presenter starts talking about real estate, rrsp's and how the government of canada is a total mess.

The presenter says we should cash out of the rrsp's and make trades. A real estate agent challenges him on how real estate has tripled in the last three years and no asset class has done that. Another financial advisor says rrsp has some advantages.

Every day you are meeting with the EC who says it is a coaching session. No. They now present you with their tuition. The tuition is 27,000, 34,000, 41,000 and $59,000. The pressure is on to sell.

The education director comes and gives a sad story about his wife having cancer. We find him smoking downstairs. The presenter talks about all this money he is making, yet he works three weekends a month. Seriously if you are making all this money why work three weekends a month.

The customer service rep, who is a mastermind students, tells his story about owning a restaurant and how he is making all this money trading. So why work as a CSR. Am i missing something.

On the third day, there is only 5 people. The presenter tells us that they were disqualified. I call two of them who did not show up. Both said they were pressurized to buy the education packages. So lies again. I tell the EC this is not for me. He is disappointed.

My friend who paid 34,000 attended two courses, however the presenter said the stock market is high and so cannot make money on ETF's and stocks.

Please do not not register with OTA. This is a scam and you will feel like you are attending a time share meeting.

As a novice trader I had my doubts about these courses. My perception immediately changed once I met the instructor. Kelly was very passionate about this course and making sure we learned each process. He answered all questions without hesitation and allowed us to work on topics individually and in groups.

I recommend Core Strategy to anyone interested in creating supplemental income. The concept of Supply and Demand on a Price chart might seem simple but it can be quite complicated. OTA has changed the way I see my financial future in a good way.

I am an employee from OTA. I admit it is a marketing strategy to offer a half-day seminar and get prospect through our doors. But if we don't do so some of the people would never come across our business. The courses are optional. We do not force anyone to sign-up.

Personally I have assisted student who sign-up and are either financially unable to pay the course or just find the course too intensive for them self that they want to quit and we had to cancel their enrollment. But that all depends on the location. Some of the offices are corporate owned and some are franchised. So I can't speak for all the offices.

We have a great curriculum. It is constantly updated and the fees includes a lifetime retake. If you were to go to a college its the same thing. It is not 100% guarantee that you will be successful or find the desired job at once. The tuition paid its once. So if anything changed in the market you will have to repay for continuing education to keep yourself up to the current standards. The only difference is that you get a paper recognition.

I attended the 3 day seminar and paid $300. Within those 3 days they provided private coaching sessions to enroll in school. These people are very judgemental. I'm a black, single female and they immediately had me apply for financial assistance. I do admit, I filled in on the questionnaire that I had only 5k in savings and no 401K but who would tell them right off the back how much you really have in savings??? I wanted to learn more about the school and the resources they have to offer. To make a long story short, I completed the loan application they suggested I apply for and I never heard back from them. I had over the tuition amount in savings. I guess their loss. I've been paying one of the students that attended the school to teach me how to trade. It's been going great. I don't want to call the people at the Trading Academy in Cornelius, NC prejudice; however they need to work on the enrollment staff. I don't appreciate the treatment.

I started out like most do- excited but hesitant; having enough knowledge to get myself hurt but truly unaware of the danger and with very little money.

In 2008 I was in college and working at a newly opened fast food chain, Five Guys, near my home making $7.25/hr. I didn’t know what I want to do. I didn’t even know what I wanted 2 weeks from then. I knew that I was supposed to find a career and that I was to love it. It’s hard when you’re that young to realize what is good for you and I had no real support. My family wouldn’t touch “investments” with a 10 foot pole.

I had written some notes down about speculation and the evils that come from speculators one evening during class. And after thinking about it my issue was- I had no clue what a speculator was or what they actually did. I had never been exposed to finance or investments. I googled “Stock speculation” and one of the first links I ran across was Online Trading Academy. After my first orientation into the academy I knew this was what I wanted. I cashed in my college fund and opened up my first trading account.

Fast forward to 2010 I started to watch stocks and options applying what I had learn from the foreign exchange classes I took earlier. It was tough back then for me. I didn’t have the values needed to truly be successful. I didn’t have the funds. I had many ups and downs and way more downs than anyone would want. By the end of that year, and after several emotional implosions, I realized I was in the middle of all the self sabotage I had read about in the psychology of trading books. Not only was I ignoring everything I was taught but it almost looked like I was purposely targeting failure… maybe because failure can be a lot easier. If it wasn’t for the supportive community made of relentlessly committed students, coaches and instructors I would most likely still be in that very dark emotional hole I placed myself in or just not a trader anymore.

Now I’ve been a part of the instructors for the past 3 years. I’ve come a long way and as you know it wasn’t a smooth ride for me but without OTA I wouldn’t have made it. They gave me more than just a strategy to apply. They gave me values I didn’t have when I first walked through the doors as a student. They taught me what love, trust and inspiration can build. These can be applied to any endeavor with the inspiration being the vehicle. It’s hard not to be inspired everyday working with the education within community OTA has built. Inspiration drives fascination and fascination is the motor to any learning process. YOU can change your life, it is possible.

I thank Online Trading Academy, in my own way, every day for this.

Okay...Here is a true review of OTA Toronto and overall in general. I hope it will be helpful for some. If you had some dealings with OTA, you will find that I am writing the truth. My intention is for people to make decisions based on correct information as I see many students who do not even know ABC of computers getting sucked in for 60-80K by OTA. It's a business, not an academy. So, by definition of it, they are in to make profits by sucking in as many students as possible.

Their objective is to suck you into Mastermind eventually. (45K...If you paid more than that, you suck real good...don't worry there are many like that)

1. All 5 star reviews that you see are from OTA students taking the class. They are offered prizes during the class. So, that explains the 5 stars. No institution gets 5 stars from everybody, c'mon be real.

2. Here is how the whole OTA business runs.

2.1) You get sucked into a FREE (don't everybody want it :) ) power trading workshop. When you come in the shop, it's a motivational speech, carefully crafted to get you pumped up to make millions in a year. How do you make millions? Well, they will tell you in next session title "Market Timing". You enrol right there, otherwise the discount they offer will not be available next day. Okay? well, that's their first lie. You can always get the same price. Think about it. It's a business to make money. Market Timing is about 250$. If you paid more than that, well you are a sucker.

2.2) Market Timing - Before you come in for the class, they ask you to fill-up a form to get to know your net worth. This determines how much they will sell the mastermind to you and if you get any discounts.

In the session, they give you snippets of their PATENTED Core strategy (Well, Fancy support/Resistance). It's a 3 day course. They teach (lol! it's a sales pitch instead) you briefly stock, forex, futures and options. Also, how buy and hold doesn't work. In the end, you have sales guy (called Education Counsellor) coming in and share the retail price of the course if you take it same day otherwise price goes to wholesale tomorrow. Retail price is about 50% off. Well, their retail price is the actual price they would sell the courses to biggest sucker. If you are good in negotiations or low net worth, you could get a 25% off.

I observed whites are preferred and get better discounts. So, if you are white, use it your advantage and reap deeper discounts.

2.3) All courses stocks (7days), forex, futures, options have 5 day on-location classes and about 12 XLT online classes.

2.4) Unlimited Retakes - Not really, you only get in if there is no spot left in the classroom training. Generally, that happens for their new instructors, good instructors have their classes filled in pretty quickly. So, you cannot attend those.

2.5) ProPicks - Their winning percentage do not budge even if they have straight 10 losing trades. You only get 1-2 trades per asset class per week.

2.6) Mastermind Supply/Demand Grid - They only tell you levels which do not match their core strategy principles taught in class. Also, they do not share how they came up with levels.

2.7) Market Screener - It only shows symbols, not even levels. So, useless.

Conclusion: If you register for only couple courses, you will notice that your Education Counsellor is always trying to sell you Mastermind every chance they get.

You will also notice that you are missing some parts of core strategy that is only taught to mastermind students, only to realize after you get Mastermind that nah, not worth it.

So, Does their core strategy work? Sure it does. But, not more than any other trading strategies out there. You can learn those from other institues for about 5K. As any trader would know, there are many strategies that works, retracements, breakouts etc. So, core strategy (again fancy support/resistance...you will notice some instructors say that) isn't worth 60K that many students pay for.

If you are still a fan, I would suggest take their pro trader courses (about 8K including XLT) that teaches core strategy and move on. You can learn basic mechanics of Futures, forex from any book and apply core strategy to it. That saves you 50K right there (50K profit, I should say as i am a trader)

Will you be a millionaire by the end of it? Lol..no..but you will start making decent money if you stick to this business for about 2 years.

Know this, it's a business and their profit is based on how much they can sell their courses for. They will make you think about big dreams and that their courses will help you achieve it. But, I would say only about 2% of their students actually do well in about 2 years from start. Generally, you know if you will do well or not. So, if there is any hesitation, walk off, save your retirement money. Deals will always be there if you really crave OTA courses.

One more observation, generally their target is oldies as they have retirement money. But, these students are the ones who do not do well. Why? First off, they don't know computers. Second, they have hard time learning the platform. Third, OTA doesn't help set you up with trading accounts even with their business partners.

I hope this review would be helpful and gives some insight to prospective students that they don't receive from OTA. Existing students, well you paid what you paid, can't do much about it now. It was a business transaction.

I was very fortunate to have found Online Trading Academy when I did. Following the 2008 Housing debacle, I finally made the decision to invest in my financial education. Following the Tech Bubble and the Housing crisis, I realized that Wall Street was a rigged game, and the only way I would be able to make money as an investor/trader was to learn the rules.

In Jan 2010, I decided to join Online Trading Academy after my Education Counselor confirmed my one simple question..."After 7 days, will I be able to understand how a professional on Wall Street Trades? Not that I would be able to start trading like one after 7 days, but I would understand the rules of the game.

Following my first class (ProTrader) I realized I could answer two basic questions:

1. My Instructor demystified how professional on Wall Street traded (I understood the rules), and

2. After some hard work, commitment and time, I COULD trade like a professional on Wall Street.

As you can imagine, I was incredible elated to have finally been taught technical analysis (how to read a stock chart) like a professional, as well as the concepts of Institutional buying and selling.

To help me accelerate my education, I followed my Instructor's recommendations:

1. I created and submitted my trading plan

2. I began watching my weekly XLTs

3. I traded in simulation until I was able to consistently achieve my desired rate of return.

4. I practiced on my trading platform (as this was part of my business), and

5. I logged, journaled, and reviewed my trades so I could become more consistent, while at the same time becoming quickly aware of my mistakes.

My financial need (my why) was my freedom. The ability to make my month income so I could leave a prior job that was no longer helping me grow professionally. I also wanted to spend more time with my family and take vacations!

The simple truth is.... there is no short cuts to learning how to successfully trade the markets. Like a new job or career, no one is great when they first begin and the ones that hone their craft and go after what they want with commitment and conviction tend to be the ones that succeed the fastest.

There are plenty of opportunities for students at Online Trading Academy to utilize the tools and resources at a pace that is right for them. My goal was to become a successful trader by a specific date, and I simply applied what I said above to help me reach my goals faster.

I want to thank Online Trading Academy and especially the Instructors for helping me learn a skill that has helped me create both short-term income and long-term wealth (e.g. retirement).

If you are currently paying a so-called Industry professional broker fees and commissions and they are not helping you achieve your goals, I highly recommend that you invest in your own financial education.

Like I mentioned earlier, I would have continued to lose money in the markets if I hadn't investing in my Online Trading Academy Education.

Take the time to invest in yourself; your future self will thank you!

OTA is a con, a scam. I used to work there, so I know all about it.

The "educational counselors" are all commission sales people making $150,000 to $350,000. The "instructors" are also entirely on commission, making more than the "educational salespersons". No one at Online Trading Academy is a real trader and no one uses the system to make money. Because the system does not work.

OTA is a hard core sales operation. You'll be asked a series of "pain questions" like, "What is the cost of doing nothing?" "How do you feel about it?" They get you feeling terrible so you'll buy.

But the trading system does not work. It uses simple fibonacci and support and resistance to get lucky once out of eight times - so you lose seven times, but win once. This makes you think it might work if you could learn it better.

Since you will always be losing money with their trading method, this gives them the opportunity to up-sell you on more markets, at about $12,000 each. They say, "More markets, more opportunity" and "You're not making money because you need more training!"

But that's the secret lie - it is the trading system that doesn't work, not you. A study by Univ of California, Berkeley, Haas Business School found that 98% of day traders lose All their money.

They say that you lose small and win big - just another lie to cover up the many many losses for one small win. Your account slowly goes down and you blame yourself for not making the system work - but it's a losing system, not you! You may even fall for buying more education for thousands more dollars.

Note that OTA's trading method supposedly uses supply and demand levels that they identify - some from many years ago! But big traders and institutions never leave pending trades lying around, never. Not even overnight or over the weekend because a news event could cause a huge loss. In fact, most institutional trades are high frequency trades in and out of the market in less than a second! But OTA will try to tell you supply and demand levels last for years. Don't believe a word they say. It's all a scam and like all cons, the lies really sound good!

No you can't trade like the institutions (who often lose big, by the way) - you don't have the money like they do and you can't push the market around like they can.

Before you come in to a seminar the salespeople take half the chairs out of the room - so it looks like lots of people are showing up, more than expected, then they bring back the chairs. Smart, right?

There will be one or two OTA employees acting like students in the room. They buy and everyone else thinks, if they bought, I should too. OTA calls this "social proof". They have about a hundred more tricks up their sleeve - you won't have a chance.

They'll take you for $12,000 to $60,000. No money, no problem, you can finance it at 17%. The back of the contract says you can't sue them and also you can't join a class action lawsuit.

Online Trading Academy is exactly like Trump University and Corinthian Colleges, all scams selling a product that does not work to hopeful people ripe for it. Note: they illegally record all telephone calls with "Tape-a-Call".

The salespeople are trained extensively to act sympathetic and listen to your woes about not making enough money and needing retirement, then they tell you your salvation is to pay $12,000 to $60,000 to solve the problem. "All you need is self-discipline and commitment," they tell you. "Earn while you learn!" But no one ever makes money with their "patented" system. Patented does not means it works!

I know all about it. Don't believe the positive reviews. They wrote them. Heck, when I worked there, I wrote some of them!

Everything they do is totally designed to take your money, leaving you dry. When you figure out the trading method does not work they'll try to sell you further training on more markets. See how it works? They tell you that you just need more training for thousands more. It's your fault!

Here's a good trick: The instructor is going on about how you can make lots of money. And then he shows you a live trade he made during the break. It's now up $2000 in one hour!

And think how much you can make doing this. He tells you, trade for one hour a day and make $2000/day times five days a week gives you $10,000/week, easy! You just need to sign up for the training.

The trick is he made Ten random trades, half long buys and half short sells. He chose the one lucky trade that made the best profit to show the class and ignores all the others that are losing. He only shows the profit trade!!

Isn't that a great trick?

The instructors do not trade themselves, they just say they do. Everything is fake. If you see a statement or a testimonial, it's fake. The instructors make much more money from you than they could from trading a losing system.

Online Trading Academy is a brilliant, exceptionally well designed scam.

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I'm a swing trader and an MBA. I really enjoy OTA's radio program. It's entertaining + sometimes there are some good strategies and stories discussed. I've never attended OTA seminars.

So, through hard work and help from the heavens I have developed my own strategies. I can back this up, but I make around 30% to 40% ROI in any kind of market per year.

Will I share my strategies with just anyone? No, I've worked too hard developing them over many years. I've shared some of it with close family, but like OTA, (if they have strategies that work) I would have to charge someone a small fortune to teach them how to do it.

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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.

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

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 don't have one. The guy went on being rude saying, I don't 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 don't 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 didn't 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.)

Thanks,

Jay

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".

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...

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

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? Well...it'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.

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.