• Report: #383912

Complaint Review: Online Trading Academy

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  • Submitted: Wed, October 22, 2008
  • Updated: Wed, April 18, 2012

  • Reported By:Austin Texas
Online Trading Academy
5005 West Royal Lane Ste. 260 Austin, Houston, San Antonio, Texas U.S.A.
  • Phone: 972-7464272
  • Web:
  • Category: Seminars

Online Trading Academy free workshop and professional trader Dallas, Austin, Houston, San Antonio Texas

*Consumer Comment: Beware of this SCAM!!!!!!

*Consumer Comment: Beware of BAIT and SWITCH SCAM

*Consumer Comment: Seminar? What seminar?

*Consumer Comment: Online Trading Academy is a joke!

*Consumer Comment: contact me

*Consumer Comment: contact me

*Consumer Comment: Better Suggestion

*Consumer Comment: also just attended and agree with Jman

*Consumer Comment: Not a scam but not worth the money either

*Consumer Comment: Not a scam but not worth the money either

* : Please do not listen to these people!!!

*Consumer Comment: How can you call this a scam?

*Consumer Comment: How can you call this a scam?

*Consumer Comment: How can you call this a scam?

*Consumer Comment: How can you call this a scam?

*Consumer Comment: just attended

*Consumer Comment: Online Trading Academy is a total scam

*REBUTTAL Owner of company: Response to John or James' speculation about Online Trading Academy - Texas

*REBUTTAL Owner of company: Response to John or James' speculation about Online Trading Academy - Texas

*REBUTTAL Owner of company: Response to John or James' speculation about Online Trading Academy - Texas

*REBUTTAL Owner of company: Response to John or James' speculation about Online Trading Academy - Texas

*Consumer Comment: THANK YOU FOR THE WARNING!

*Consumer Comment: Online Trading Academy is not a "Bait & Switch". Attending their class was a good move for me.

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The free workshop of online trading academy is totally free. It is a promotional 1/2 day to sell their courses. Nothing wrong with that. It has a bit of "bait and switch" because they tell you in the workshop that you need to take the course to learn about level II trading. Then the first day of the course, you learn you don't need level II at all -- it is not usefull anymore.

The course is nothing more than learning how to trade -- reading charts mainly. You can buy a book or take the course. It is high level on the charts and technical analysis so you will still need a good book or two after the course. You do need to know the little details of technical analysis that the course doesn't tell you.

Some of their instructors are not that good.

This company is not a ripoff but you should consider carefully if you want to spend $29 for a book (which you'll need anyway) or $$$$ for the course. Some people probably do need the "hands-on" course because they don't learn that well from a book.

I'm writing this as a reply to a question posted on this site.

James
Austin, Texas
U.S.A.

This report was posted on Ripoff Report on 10/22/2008 04:58 PM and is a permanent record located here: http://www.ripoffreport.com/r/Online-Trading-Academy/Austin-Houston-San-Antonio-Texas/Online-Trading-Academy-free-workshop-and-professional-trader-Dallas-Austin-Houston-San-383912. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

Beware of this SCAM!!!!!!

AUTHOR: Traderone - ()

 My opinion:  Beware of bait and switch tactics when they lure you in with a low cost program and later try to sell you on something more expensive claiming that you need it to succeed and make money. I feel that this company is nothing more than a scam and should be shut down by the FTC just like the many other similar companies that used to air informercials all the time. Do not believe their sales pitches, their testimonials, trading results, ads, etc. None of their trading is done with real money and is all done in a demo account. Read the disclosure statements that you will need to agree to when you sign up for the program. They tell you that everything is Hypothetical and they are not trading in a real account using real money. I have lost thousands of dollars in trading with their bogus program and thousands more on their classes. Don't be a fool with your money and fall for this scam. This is nothing more than a sales company making their money on victims who don't know any better. Read all of the ripoff reports. Nobody would be motivated to say anything good about the company on ripoff report posting pages except people who work for the company and owners. Use common sense. Only people who are really upset and feel that they have been scammed would be motivated to go into these pages and post a report. That would include me and all of the other victims of this scam. Unless you like to lose a ton of moeny very quickly, stay far away from this scam or you will be sorry like my wife and I are. 

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#2 Consumer Comment

Beware of BAIT and SWITCH SCAM

AUTHOR: Traderone - ()

My opinion:  Beware of bait and switch tactics when they lure you in with a low cost program and later try to sell you on something more expensive claiming that you need it to succeed and make money. I feel that this company is nothing more than a scam and should be shut down by the FTC just like the many other similar companies that used to air informercials all the time. Do not believe their sales pitches, their testimonials, trading results, ads, etc. None of their trading is done with real money and is all done in a demo account. Read the disclosure statements that you will need to agree to when you sign up for the program. They tell you that everything is Hypothetical and they are not trading in a real account using real money. I have lost thousands of dollars in trading with their bogus program and thousands more on their classes. Don't be a fool with your money and fall for this scam. This is nothing more than a sales company making their money on victims who don't know any better. Read all of the ripoff reports. Nobody would be motivated to say anything good about the company on ripoff report posting pages except people who work for the company and owners. Use common sense. Only people who are really upset and feel that they have been scammed would be motivated to go into these pages and post a report. That would include me and all of the other victims of this scam. Unless you like to lose a ton of moeny very quickly, stay far away from this scam or you will be sorry like my wife and I are. 

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#3 Consumer Comment

Seminar? What seminar?

AUTHOR: Angry Consumer_10 - (United States of America)

I find it fascinating that even some of the clients who admit they were ripped off by Online Trading Academy refer to the sugar coated sales pitch they provide as a "seminar"  The program is advertised as a 1/2 day seminar but only lasts about 2 hours of any actual presentation which is a sales presentation, not a seminar. The rest of the time we are held hostage during the free lunch and afterwards by OTA personel who are labeled as Educational Counselors but are really closers.

So there is some truth to the 1/2 day advertisement. They will keep you there for a 1/2 day to close you and then upsell you to their XLT course if they see that your credit card has enough balance.

The whole thing is a joke.

Oh the FREE LUNCH? Soggy subs and watered down soda. The "Home Study Course" supposedly valued at $199 is actually worth about .99 cents. Nothing earth shaking here and you'll have to ask for it or they will conveninetly forget to give it to you, like it is really worth anything anyway.
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#4 Consumer Comment

Online Trading Academy is a joke!

AUTHOR: Angry Consumer_10 - (United States of America)



Although I never visited the OTA center in Texas, I do have alot to say about the OTA center in Orlando, Fl and based on what I have been reading, it appears as though all of these OTA centers have the same or similiar issues.



The Power Trading Workshop (PTW) is just a sales gimmick. It is advertised as a "1/2 day seminar" The one I attended and I am told this is pretty standard only lasted 3 hours and that included a 1 hour break for lunch. It was very much like attending a Time Share event. Very little information and very pushy salesman who call themselves "Education Counselors"  In retropsect, the time share shows are better and even the food is better. All OTA offers is cheap danish for continental breakfast and cheap subs for lunch.



About 9 people attended the PTW that I was at. During lunch about 1/2, the smart ones left. When lunch was over the  focus was on reviewing the OTA benefits and then one by one we were led out of the small classroom and into one of the salesman offices.



The counselor I got was a black guy named Jason. He seemed very friendly. Was dressed nice. Good looking kid and seemed very bright and charismatic. He was a real go getter. He told me that he was a trader and was making over $2,000 a day! I thought wow! By the way he was dressed, he looked and he also talked the part.  He also told me that he owned a Mercedes and was doing very well thanks to OTA. Said he used to work for some Fortune 500 companies in Miami and Houston and was offered a high salary job for a big company in Atlanta but loved OTA so was staying here. I can't believe it but I bought into the hype. He looked the part and talked the talk. As already mentioned he dressed very well. Expensive suit, nice shoes, beautiful and expensive tie. There is a saying about "clothes make the man" If that were true, this guy was made very well. But as I was about to find out, looks can be decieving.



I was told that there would be a $2,000 discount for that day only and that once the presenter left the offer was over. He called it a "schlorship" so I got sucked in.



When I came out I found the others left. So out of none people, I was the only sucker.



The next class I was told would be in three weeks. I was excited and actually felt sorry for those other 8 people. Wow! What they had walked away from.Actually in time, I was feeling sorry for myself.



Comes the day of the class, I was excited and eager to learn. Once class started it something different. The trainer was very boring and hard to follow. Some of us thought it was the material but at closer look we discovered that it was the trainer. he was terrible.



We started trading live and supposedly with real money. This was a bright spot. All of us did well and were profitable. However, in talking with one of the older clients whow as retaking the class, we were told that everyone makes money in class. Once you go home it is quite a different scenario. It was also presumned that this was not real money but only a demo account. Again, we were told that in the past several people went over the $5,000  maximum. How could this happen if it were indeed real money?



Think about it. How could OTA or any company charge $5,000 per client, pay the lease on the building, the electric, the phone, the staff especially the trainer who gets we were told a hefty $700/day plus all expences including the cost of flying him from whereever and still give us $5,000 in real money and still profit? Why would they risk it? This was the first red flag.



We all exchanged phone numbers and email addresses on graduation day and went home. At home, trading experiences were quite different. We all lost money even though we were using the same techniques. How could this be? Was the demo account at class jimmied? Hmmm??



Another thing, all during the class for 7 straight days we were hounded by the "counselors" aka salepeople to upgrade to other more expensive classes. In some cases we were pulled out of the classroom on our time during classtime to be pitched on OTA programs. One guy got so upset with this crap that he yelled "Leave me alone will ya?"



I called my "counselor aka salesman and he told me not to worry. To come in the office and he would work with me. He also invited me to some grad events. Turns out all the grad events were redundant information with more high pressure sales pitches. Everytime I met with Jason it was a high pressure scenario. I got the real image of this guy when he told me after I was upset with my lack of success,

"Hey what do you expect for a measly $5,000. You bought the basic course. You need the more advanced class."



Turns out the more advanced class is called an XLT and is "a mere $10,000 more. " His words, not mine.



I really didn't want to spend more until I made a profit off of my investment. He told me "you can't expect to make money unless you spend money" I told him that I already spent $5,000. He just laughed and acted like it was peanuts.



At this point I decided to move away from OTA and trade on my own. I watched CNBC, Bloomberg, bought IBD, WSJ and watched Jimmy Cramer and I started to make money.  And I said the heck with OTA.



A short  time later I recieved a phone call and a mailing from OTA inviting me to a 2 day special event that would be held at the Crowne Plaza hotel near the  airport in Orlando.  This was supposed to  be a grand event with many special speakers. It would provide advanced training and it was FREE! PLUS FREE FOOD and CASH PRIZES! WOW!



So I figured what the heck, at least it was free and not far from where I live. Turns out it was a farce. This "2 day offsite event" was really just a glorified version of the Power Trading Workshop. Except instead of one speaker they had 5 or 6 and they really were not sophisticated trainers, they were speakers and sales people. It was poorly organized w ith OTA staff running all around. It was like a bunchof kids at a playground and the focus was on selling or upgrading us to other programs not teaching us anything special or anything new. The primary focus was on selling the value of the XLT program and not one, not 2 but four of them at $10,000 a crack!



Many people walked out almost immediately. Although it was advertised as an "all day, 2 day event" throw in lunch and the silly games they played, the actual talk time was only a few hours. Much like the PTWs it was sales based with very little actual information. The cash prizes were certificates to buy products from OTA.



And another thing. I saw a man there named Lance Straus. I knew him from the other seminars I have attended here in Orlando.  I understand that he is high on the corporate ladder with OTA but he has a horrible reputation. He has been associated with many failed seminar companies like Wade Cook, Larry Pino and more. Just google his name and see some of the complaints made about him from clients and how he treated them. He is seminar promoter junkie jumping from one company to another.



I find it fascinating that on one hand OTA claims not to be a "hotel seminar company" but on the other hand is promoting hotel seminars calling them "2 day offsite events" and hiring someone like Lance Straus to run them. Doesn't that sound a little wierd?



Here are some other things about OTA. The tuition reimbursement is a joke. If you trade like a normal trader, are 25 years old, you will be old and grey and in the nursing home before you get your tuition back. And if OTA changes brokers again, you may get nothing. Don't laugh. Just ask the OTA clients who lost all of their credits when OTA switched brokers a few years ago leaving Terra Nova.



The new broker OTA uses charges commissions and margin interest rates that are above the industry average. Check it out.



Retake provision?  Most clients don't retake and I think OTA knows this and does it on purpose. Most quit in frustration after losing money. besides the classroom only seats 20 people, where would you put them all?



I also found out more about that handsome black kid that sold me the OTA program (actually conned me!) He doesn't make $2,000 a day trading and in fact doesn't even trade except inside of a demo account. And he doesn't have the money to trade. He is broke! As for the Mercedes? Funny thing everyday when I went to class I saw him being dropped off  or picked up by somebody or riding on the bus! But what else would you expect/ Andof the clothes he wears, they are gifts from his parents! He doesn't buy them. The fortune 500 jobs he said he had. Turns out he worked for some low paying telemarketing companies in Orlando that had accounts with fortune 500 companies and did a lot of time share and vacation sales.



And at these "2 day special offsite events", they will tell you that they are offering classes worth anywhere from $26,744 to as much as $113,669 but will give you a real deal and charge you on that day only and never to be repeated (yeah right) for only from $12,500 to $34,000. And they will finance you with only a $2,000 down payment and only 18% interest!



These programs are overpriced by at least 50%. Most of the money goes to pay for the super sales an seminar team that fly in from California. The Pro Trader course that I paid $5,000 for in my opinion was even worth $100.



If you follow their crap you will end up going broke. Most of the people who take OTA classes lose money on their trades and they lose in some case as much as $65,000 by investing in OTA classes!!!



If  you decide not to listen to me at least follow this advice: Watch out for well dressed good looking people wearing nice suits and bragging how great OTA is and how much money they are making. Watch out for Lance Straus. Watch out for those trainers who are really speakers and watch your wallet!



















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#5 Consumer Comment

contact me

AUTHOR: cn1 - (United States of America)

if you have used online trading academy, please contact me with a first hand account. -thanks, leave a message and il return the call  312-473-5786 (rippoff report says not to inclide email, but i will anyway    CN1 "at" comcast "dot" net )
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#6 Consumer Comment

contact me

AUTHOR: cn1 - (United States of America)

if you have used online trading academy, please contact me with a first hand account. -thanks, leave a message and il return the call  312-473-5786 (rippoff report wont let me include my email,why?)
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#7 Consumer Comment

Better Suggestion

AUTHOR: Zoe_27 - (USA)

The food in Irvine was pretty good :)   Look people, here is the best tip you're gonna get. Go to Day Trading Radio   This is the best education you can get in trading. You can listen for free or sign up for only $30 a month. I wish I had found these guys before forking over my money to OTA. 

And $300 a day is nothing if you're a successful trader. But it doesn't come easy. It takes a lot of work to learn how to trade profitably. Take some time to learn the market, and paper trade until you get proficient before going live. 
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#8 Consumer Comment

also just attended and agree with Jman

AUTHOR: Renrew - (United States of America)

Recently attended the free Power Trading Workshop in Burnaby BC and left 3/4 through after too many red flags (and a disgusting sandwich for lunch):

 - the presenter claimed to have a personal target of making $300/day i.e.70k/year - not bad for a young guy - as Jman says why teach if you are that good at trading?

 - when I found out during lunch the actual course costs 5k I started smelling a rat, later the slide showing a list of things each costing $$$$ but crossed out to arrive at the 5k did the rest

 - they then pull you out of the 'workshop' to do the sales pitch, claiming that you get a full refund of your course costs via a discount on trading commission - in my case it would only take 208 years!

-the video of the trader with the 'thick russian accent' making $600 while we watched must be true because after all we saw it on video!

To sum up: don't even go to the free workshop you don't even get decent lunch.

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#9 Consumer Comment

Not a scam but not worth the money either

AUTHOR: Zoe_27 - (USA)

I attended the two week "Pro Trader" course at the beginning of this year, after going to the introductory workshop, and more than a few calls from the salesman. The people at OTA are very professional. However, the value of what they teach in their classrooms is questionable, especially given the plethora of free and available information out there. 

The purpose of the introductory class is to get you to sign up for the two week class, which carries a price tag of $4-5k. This is an awful lot of money for very basic information that you can get from books and online sources. Even if you take the class, it will still take you at least six months of being in the market day in and day out to actually learn how to trade, and they will tell you this. 

I believe the purpose of the two week course is to get you to sign up for their "Extended Learning Program," which carries a price tag of $6k. They will tell you that you need "hand holding" as a new trader, and that's why you should fork over additional money for their pearls of wisdom. 

In hindsight, I'm sorry I took the class. I have gotten a much better education since then just by being in the market, reading the news, watching CNBC and Bloomberg, developing my charts, watching videos on YouTube, and using Trade The News. Online Trading Academy is one of many resources available for stock market education. If you have a lot of money to spend, this may be for you. Personally, I have found much better and more economical means for learning the market.  

The assertion that they allow students to execute actual trades using their money is kind of bogus. First off, you're only using 10 shares. Secondly, they only let you trade certain stocks on the Nasdaq. Thirdly, you have a very limited amount of time in which to execute your trades. This, in no way, resembles the actual trading environment and strategies of a real trader. You cannot trade on cue. Most successful trades take some amount of time and preparation to carry out. And while they may cover the trading environment in a cursory fashion, you don't get an accurate feel for what it's really like to be in the market until you've experienced it for a while. Furthermore, the strategies they offer are simplistic and dated, and probably do not resemble the strategies of most successful traders.

Which brings me to another point, part of their curriculum requires you to develop a "trading plan." This is a good idea but it's a little difficult when you have only textbook learning and no actual experience. It takes time to know your strengths and weaknesses, and to develop the styles and strategies that work best for you. No amount of classroom time can teach you this. 

One last thing - they have four stock picks they offer up everyday. They aren't worth bothering with. Most of the trades are never triggered. Those that are have minuscule gains. 

For good sources of information, try Investopedia and StockCharts.com ChartSchool. There are many videos on YouTube as well. And they're totally free. 
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#10 Consumer Comment

Not a scam but not worth the money either

AUTHOR: Zoe_27 - (USA)

I attended the 2 week "Pro Trader" course at the beginning of this year, after going to the introductory workshop, and more than a few calls from the salesman. The people at OTA are very professional. However, the value of what they teach in their classrooms is questionable, especially given the plethora of free and available information out there. 

The purpose of the introductory class is to get you to sign up for the two week class, which carries a price tag of $4-5k, although they will work with you on this. This is an awful lot of money for very basic information that you can get from books and online sources. Even if you take the class, it will still take you at least six months of being in the market day in and day out to actually learn how to trade, and they will tell you this. 

I believe the purpose of the two week course is to get you to sign up for their "Extended Learning Program," which carries a price tag of $6k. They will tell you that you need "hand holding" as a new trader. 

In hindsight, I am sorry I took the class. I have gotten a much better education since then just by being in the market, reading the news, watching CNBC and Bloomberg, developing my charts, and using Trade The News. Online Trading Academy is one of many resources available for stock market education. If you have a lot of money to spend, this may be for you. Personally, I have found much better and more economical means for learning the market.  
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#11

Please do not listen to these people!!!

AUTHOR: Unfairprices - (U.S.A.)

Please, if you are sane and rational, do not listen to these people writting negative comments about this academy.  I actualy made money the next day after going on their website and watching the free videos they have there, on the website, for free. 

  
This is a respectful school and I have heard nothing but praises about it, I live in NY worked on Wall St.  and I can tell you that no-one teaches you the ins and outs like these guys do. 



Don't take my or anyone else's word for it, go to their site and view the free videos, if you like the teaching style, then go for it. But it's realy upsetting to read people spew their negative comments about something that they obviously have not tried, and have absolutely no knowledge of. 

   

Yes they probably try to sell you a book for 40 bucks, but so what? A good trading book costs that much maybe more and it doesn't come with a free class!!!! Here's a suggestion, if you don't like the book don't buy it!



Are there people that make millions in the stock market? YES

Are there people that lose millions in the stock market?  YES



One big difference? EDUCATION



And I speak from experience here, and this is probably the best advice anyone has ever given me that saved me thousands in losses. Before investing in the market, take that money that you are ready to hand over to the pros and market makers, because you WILL lose it, and invest it on EDUCATION. 



Maybe you think that you are going to outsmart Wall Street because you made a few good trades? It's not going to happen. Eventualy when you're down to your last 100 bucks you will realize that you were just lucky my friend. You need to spend on Education. 



So there are a few ways to go about education, read hundreds of books, hire a pro to teach you, or go to a respected school. I already read the hundreds of books and guess what? I still couldn't outsmart Wall Street. 



Of course results are not guaranteed, no-one is ever going to hand you a winning portfolio with their money already in it. Nothing in life is guaranteed. One thing I can vouch for is this school, I learned a lot and am currently successfuly using what I learned to trade, and it is working. That is all I can say. 

  
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#12 Consumer Comment

How can you call this a scam?

AUTHOR: Jsperry - (U.S.A.)

To Dontbefooled:

Thanks for the report. I read your report then instead of relying on your opinion, actually went to the source and attended Vince's session. I DID ask him about the issues you raised.

If you think this guy is a scam, then I really question your judgement. I found him to be honest, straight forward, and not full of the usual crap you see out there. I've been to the Wizetrade events and have seen how they pack those hotel ballrooms and build the energy up to have you buy. I got a very different feeling from Vince. Hell, I didn't even buy and still felt like I could go to him for suggestions and help. How many other places can you do that?

I was lucky to attend the day long class when there was a 7 day class going and got to talk to some of the students. After that, I really think this is NOT a "no learning" class as you put it. And the most important thing, no $40 book in sight...where did you eve get that at!!!

Sure, this isn't for everyone but I really think that if you take the time to really compare what is out there instead of jumping to some half thought out conclusion, you will see that there is a difference between what Online Trading Academy is doing and what everyone else is doing.

Maybe instead of assuming what you think you know, you should go back and ask him the very questions you raise in your post and get the answers for yourself and then see what tune you are singing.
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#13 Consumer Comment

How can you call this a scam?

AUTHOR: Jsperry - (U.S.A.)

To Dontbefooled:

Thanks for the report. I read your report then instead of relying on your opinion, actually went to the source and attended Vince's session. I DID ask him about the issues you raised.

If you think this guy is a scam, then I really question your judgement. I found him to be honest, straight forward, and not full of the usual crap you see out there. I've been to the Wizetrade events and have seen how they pack those hotel ballrooms and build the energy up to have you buy. I got a very different feeling from Vince. Hell, I didn't even buy and still felt like I could go to him for suggestions and help. How many other places can you do that?

I was lucky to attend the day long class when there was a 7 day class going and got to talk to some of the students. After that, I really think this is NOT a "no learning" class as you put it. And the most important thing, no $40 book in sight...where did you eve get that at!!!

Sure, this isn't for everyone but I really think that if you take the time to really compare what is out there instead of jumping to some half thought out conclusion, you will see that there is a difference between what Online Trading Academy is doing and what everyone else is doing.

Maybe instead of assuming what you think you know, you should go back and ask him the very questions you raise in your post and get the answers for yourself and then see what tune you are singing.
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#14 Consumer Comment

How can you call this a scam?

AUTHOR: Jsperry - (U.S.A.)

To Dontbefooled:

Thanks for the report. I read your report then instead of relying on your opinion, actually went to the source and attended Vince's session. I DID ask him about the issues you raised.

If you think this guy is a scam, then I really question your judgement. I found him to be honest, straight forward, and not full of the usual crap you see out there. I've been to the Wizetrade events and have seen how they pack those hotel ballrooms and build the energy up to have you buy. I got a very different feeling from Vince. Hell, I didn't even buy and still felt like I could go to him for suggestions and help. How many other places can you do that?

I was lucky to attend the day long class when there was a 7 day class going and got to talk to some of the students. After that, I really think this is NOT a "no learning" class as you put it. And the most important thing, no $40 book in sight...where did you eve get that at!!!

Sure, this isn't for everyone but I really think that if you take the time to really compare what is out there instead of jumping to some half thought out conclusion, you will see that there is a difference between what Online Trading Academy is doing and what everyone else is doing.

Maybe instead of assuming what you think you know, you should go back and ask him the very questions you raise in your post and get the answers for yourself and then see what tune you are singing.
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#15 Consumer Comment

How can you call this a scam?

AUTHOR: Jsperry - (U.S.A.)

To Dontbefooled:

Thanks for the report. I read your report then instead of relying on your opinion, actually went to the source and attended Vince's session. I DID ask him about the issues you raised.

If you think this guy is a scam, then I really question your judgement. I found him to be honest, straight forward, and not full of the usual crap you see out there. I've been to the Wizetrade events and have seen how they pack those hotel ballrooms and build the energy up to have you buy. I got a very different feeling from Vince. Hell, I didn't even buy and still felt like I could go to him for suggestions and help. How many other places can you do that?

I was lucky to attend the day long class when there was a 7 day class going and got to talk to some of the students. After that, I really think this is NOT a "no learning" class as you put it. And the most important thing, no $40 book in sight...where did you eve get that at!!!

Sure, this isn't for everyone but I really think that if you take the time to really compare what is out there instead of jumping to some half thought out conclusion, you will see that there is a difference between what Online Trading Academy is doing and what everyone else is doing.

Maybe instead of assuming what you think you know, you should go back and ask him the very questions you raise in your post and get the answers for yourself and then see what tune you are singing.
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#16 Consumer Comment

just attended

AUTHOR: Jman - (U.S.A.)

I just went to the free 4 hour seminar yesterday. I was previously ready to sign up but after attending decided just too many red flags, contradictions and high pressure sales tactics. I was promised I would learn something useful to trading for my time but really found this nothing more than the same economics commentary I have heard on Bloomberg for the last couple months. The last hour we saw a 5 minute video of a trader placing one buy and one sell and of course he made 5 or 6 hundred $ (if he had not I'm sure they would not have shown it) but I really felt it was staged nor was I impressed as I have been trading for several years and make similar trades all the time but unfortunately they are rarely this easy or quick. I also found myself wondering if this was a real trade or if any of the promised trade to be done with their $ was in fact real or simply executed in a mock trade environment although I suppose it really does not matter as this is only training anyway. The trader then came into the class and talked to us for around 30 minutes but again was very sales oriented and he really did not say anything useful. I don't want to say I saw anything fraudulent but at the same time I saw nothing that made me believe they were going to teach me to trade better. The trader at the seminar claims to trade from between 5 minutes and 2 hours per day and also claimed to make $50,000 per month on this schedule.
He also said he has a home in New York and another in California and fly's back and forth all the time. He said his day started at 5:30 AM, 5 days a week and he traded at home in his PJ's but then showed us his trading desk at the Irvine office where he also claimed to do all his trading?
I too would like to see some proof of all this.
Don't get me wrong it is likely that this could be a good entry level class for anyone just starting out.
The expression Those who can do , those who can't teach, If they were this good why are they teaching and not trading?
These people were obviously trying to prove all this at the seminar but for some reason not giving us any black and white evidence. I'm not much for blind faith, maybe someone needs to challenge this group to prove their claims. I wish they would prove it because if they could teach what they claim I would have given them a check when I was there. for now I'm backing out as it just does not smell quite right.
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#17 Consumer Comment

Online Trading Academy is a total scam

AUTHOR: Dontbefooled - (U.S.A.)

Ask Mr. Vince Rowe to show you proof you are 'trading with HIS money'

He's using a paper trading account...and this is THE BIGGEST CON in DFW

Also, ask him for account statements of the millions he made trading to buy his business. He should be investigated by the Attorney General for Fraud.

He sells a $40 book....on a Powerpoint demo. This is the most expensive no learning 'course' likely ever sold...by a total con artist.

Seriously, ask VINCE ROWE for PROOF of profits
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#18 REBUTTAL Owner of company

Response to John or James' speculation about Online Trading Academy - Texas

AUTHOR: Rangerrowe - (U.S.A.)

I'm not sure who I am addressing here, as it appears that perhaps the same person submitted their speculation with two different first names.

I am confident that neither attended one of our free one-day classes, let alone, one of our regular courses. If they had, they would know we do not deliver a snakeoil - death by PowerPoint - sales presentations here in Texas.

I take on the premise that if I can give you a solid day of education with quantifiable evidence as to why you believe what you do about the markets and your current financial adviser is false, rather than a sales pitch, that you may put Online Trading Academy on your list of vendors to receive financial education from if you should so decide to become a self-directed asset manager. We DO NOT have a financial product to sell you, just education on the mechanics of the market.

As I state emphatically on my radio show go and try all the suggestions that John, Joe or James (or whomever) proffer as the latest and most current expert on the financial market and investing, then come back and let me know how that goes.

I challenge anyone to find a better trading and investing solution on earth than what we have here in Texas. Here I let you trade with My Money, real-time, not with simulators or any other "Bait and Switch" solutions to learn how to be profitable in the stock, FOREX, options or Futures market.

Vince Rowe
Owner - Online Trading Academy Texas.
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#19 REBUTTAL Owner of company

Response to John or James' speculation about Online Trading Academy - Texas

AUTHOR: Rangerrowe - (U.S.A.)

I'm not sure who I am addressing here, as it appears that perhaps the same person submitted their speculation with two different first names.

I am confident that neither attended one of our free one-day classes, let alone, one of our regular courses. If they had, they would know we do not deliver a snakeoil - death by PowerPoint - sales presentations here in Texas.

I take on the premise that if I can give you a solid day of education with quantifiable evidence as to why you believe what you do about the markets and your current financial adviser is false, rather than a sales pitch, that you may put Online Trading Academy on your list of vendors to receive financial education from if you should so decide to become a self-directed asset manager. We DO NOT have a financial product to sell you, just education on the mechanics of the market.

As I state emphatically on my radio show go and try all the suggestions that John, Joe or James (or whomever) proffer as the latest and most current expert on the financial market and investing, then come back and let me know how that goes.

I challenge anyone to find a better trading and investing solution on earth than what we have here in Texas. Here I let you trade with My Money, real-time, not with simulators or any other "Bait and Switch" solutions to learn how to be profitable in the stock, FOREX, options or Futures market.

Vince Rowe
Owner - Online Trading Academy Texas.
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#20 REBUTTAL Owner of company

Response to John or James' speculation about Online Trading Academy - Texas

AUTHOR: Rangerrowe - (U.S.A.)

I'm not sure who I am addressing here, as it appears that perhaps the same person submitted their speculation with two different first names.

I am confident that neither attended one of our free one-day classes, let alone, one of our regular courses. If they had, they would know we do not deliver a snakeoil - death by PowerPoint - sales presentations here in Texas.

I take on the premise that if I can give you a solid day of education with quantifiable evidence as to why you believe what you do about the markets and your current financial adviser is false, rather than a sales pitch, that you may put Online Trading Academy on your list of vendors to receive financial education from if you should so decide to become a self-directed asset manager. We DO NOT have a financial product to sell you, just education on the mechanics of the market.

As I state emphatically on my radio show go and try all the suggestions that John, Joe or James (or whomever) proffer as the latest and most current expert on the financial market and investing, then come back and let me know how that goes.

I challenge anyone to find a better trading and investing solution on earth than what we have here in Texas. Here I let you trade with My Money, real-time, not with simulators or any other "Bait and Switch" solutions to learn how to be profitable in the stock, FOREX, options or Futures market.

Vince Rowe
Owner - Online Trading Academy Texas.
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#21 REBUTTAL Owner of company

Response to John or James' speculation about Online Trading Academy - Texas

AUTHOR: Rangerrowe - (U.S.A.)

I'm not sure who I am addressing here, as it appears that perhaps the same person submitted their speculation with two different first names.

I am confident that neither attended one of our free one-day classes, let alone, one of our regular courses. If they had, they would know we do not deliver a snakeoil - death by PowerPoint - sales presentations here in Texas.

I take on the premise that if I can give you a solid day of education with quantifiable evidence as to why you believe what you do about the markets and your current financial adviser is false, rather than a sales pitch, that you may put Online Trading Academy on your list of vendors to receive financial education from if you should so decide to become a self-directed asset manager. We DO NOT have a financial product to sell you, just education on the mechanics of the market.

As I state emphatically on my radio show go and try all the suggestions that John, Joe or James (or whomever) proffer as the latest and most current expert on the financial market and investing, then come back and let me know how that goes.

I challenge anyone to find a better trading and investing solution on earth than what we have here in Texas. Here I let you trade with My Money, real-time, not with simulators or any other "Bait and Switch" solutions to learn how to be profitable in the stock, FOREX, options or Futures market.

Vince Rowe
Owner - Online Trading Academy Texas.
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#22 Consumer Comment

THANK YOU FOR THE WARNING!

AUTHOR: Joe - (U.S.A.)

They offer this course where I live and they offer you a half a day instruction for FREE...

OF course I know that there is NO SUCH THING AS A FREE LUNCH...
and FREE AIN'T NECESSARILY FREE OTHER...

And considering the fact that the financial markets now are MAINLY based on bullstuff, lies, illusions, bluffing, arrogance and smoke and mirrors, TAKING THIS CLASS MAKES AS MUCH SENSE AS TAKING BLACKJACK LESSONS,ROULETTE WHEEL LESSONS, SLOT MACHINE LESSONS, TEXAS HOLD EM LESSONS, POOL TABLE HUSTLER LESSONS...

Or any OTHER GAMBLING TECHNIQUES!

This is like playing Russian roulette but they have your life savings at stake instead of bullets and one misstep could wipe you out financially.
CAN YOU COVER THAT LOSS?

I thought about going to see what the lesson was like out of curiosity but would probably be badgered by high-pressure sales goons with rabies and the noise would not permit me to think about what the seminar was supposed to be about anyway.

NO THANKS.
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#23 Consumer Comment

Online Trading Academy is not a "Bait & Switch". Attending their class was a good move for me.

AUTHOR: Ray Henry - (U.S.A.)

I am writing this in response to the post I saw regarding Online Trading Academy. As a former student, I can say that OTA is anything but a "bait and switch". The first day I learned that what I thought I knew about the stock market and specifically direct access trading was the very reason I was not very successful as a Trader. My perceptions were inaccurate, and my trading patterns were based more or less on emotional and social-economic beliefs and not on patterns, trends and historical data.

Since having took the course, my portfolio has gained 30%, and that is in spite of the volatility of the market lately. In fact, it was this class that taught me I can actually make more money in a down market.

As far as books are concerned, I haven't had any reason to buy any books. If I have a question, or want to refresh on a particular days instructions, I am free to go back and retake that day or the whole course at no cost. The instructors are top notch. Especially Kevin Green. His passion for the market is only exceeded by his passion in teaching it to others. I will forever be in Mr. Greens debt and if I have any questions, I can email him and know I will receive a rapid response.

Not only that, Vince Rowe (Owner of the Texas Franchise) is just as accessible. I have emailed him, called and visited the office where he personally reviews my trading plan and if I happen to be a few degrees off center, Mr. Rowe pushes the rudder to port a bit and I am right back on track. Mr. Rowe also provides additional seminars bringing in people from all over the country to speak at his expense. These Alumni events he has twice a year and they are invaluable. And the best part is they don't cost me a dime. Vince Rowe puts these events on out of his own pocket letting me and everyone who has attended his classes know that our future trading success is just as important to him as it is to us. Thank you Vince and OTA for all you have done.
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