• Report: #1048967

Complaint Review: Online Trading Academy

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  • Submitted: Tue, May 07, 2013
  • Updated: Tue, May 07, 2013

  • Reported By: Matthew Whiddon — Buda Texas
Online Trading Academy
Internet USA

Online Trading Academy High fees and no results. nationwide nationwide

*Consumer Suggestion: Misunderstanding

*Author of original report: They are cool for no gain

*Consumer Comment: Let's Be Fair

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Online Trading Academy promises a lot.  When I walked in I specifically asked if such a program was designed for someone like me, at that time I was working construction (real work)had a lot saved up and I was just starting a family.  I went to a free seminar and they made it seem easy to win large amounts of money in stocks and futures.  Next came the payment I paid 10K for a 5 day class and a life time of online classes and support called XLT (extended learning).  Since the online class was great but only at teaching basics of market terminology and market theory but i had thought it was about trading live and making money (that is what I had been led to believe).  Next, i found out there was another class that was trading live and making money so after talking to the salesman I spent another 8K for that class plus a package of all the other asset class classes. Needless to say my stock trading account dwindled severly and I was out the 18K for OTA and now the 25K from failed trades.  I didn't give up and decided to take their other classes in forex and futures since I had those classes in my package.  I took them and did both the futures trading and fiorex and have never made a dime.  I even ended up signing up for another 5K class for online help with forex trading.  If I was a rich retiree or something in a way it would be understandable but i am a young man with three children and a family working a real job and they ripped me off with false promises and grass is greener in other classes ideas.  If you are intrested in trading online save yourself some money just open a forex account for free, read Mark Douglas for mental stuff, and check out you tube for free videos by various traders that are actually into helping people and for free.   


This report was posted on Ripoff Report on 05/07/2013 06:49 AM and is a permanent record located here: http://www.ripoffreport.com/r/Online-Trading-Academy/internet/Online-Trading-Academy-High-fees-and-no-results-nationwide-nationwide-1048967. 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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REBUTTALS & REPLIES:
1Author 2Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Suggestion

Misunderstanding

AUTHOR: Penny218 - ()

I am a online trader student here in NYC and I can honestly say we are expereincing the total opposite. Any investment school company DOES NOT promise you financial gain, thats totally insane and a lie!! They mention that in the introduction course along with the books. Yes the classes are expensive well so is college that is totall rip off but no one complains about that. 

They offer lifetime retakes in case you want to come back and retake a course...are you kidding me?? Yes you have to take an introductory course that costs $5000 and the other classes costs a lot more but one thing you cant put a price on is education and skill that will last a lifetime. Either your lazy and your trading and losing and blaming the school for failures or maybe this is not for you! 

Notice how this school only has 16 complaints across the board. Sales ppl??? Dough! what company doesnt have any!!! Please.

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#2 Author of original report

They are cool for no gain

AUTHOR: Matthew Whiddon - ()

You are not winning and agree with me that they will not make you much money.  Maybe you had more honest salesmen.

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#3 Consumer Comment

Let's Be Fair

AUTHOR: DPK - ()

I don’t like to see anybody get treated unfairly, and that goes for both OTA students and OTA itself. I don’t doubt that there are examples of things not going right between OTA and a few of its students. Those things happen in this world, unfortunately. But the OTA I know is a straight-shooting bunch of people, to use a Texas-type phrase. The OTA people I know are ladies and gentlemen. If they can set things right with any dissatisfied client, I am satisfied that they would do so. And as for the course being a ripoff, it’s just the opposite.

OTA never promised to make me rich. They promised to give me some insights and awareness and tools that would make a positive difference in my efforts. They did that very well.I have taken the Pro Trader course three times. (I’m slow).  Always from top notch instructors. The whole staff is seriously committed to helping people do well with their investment programs. I haven’t yet gotten rich, but then I’m not trying very hard. Things are moving along favorably, and there is no question that OTA has made a big and positive difference for me.

No wonder I lost so much money before OTA. I didn’t know some important things. Still don’t, but we’re going in the right direction. As for OTA being expensive, I like the concept that, compared to a college course or two, it’s very reasonable. Anyway, I don’t think that this OTA-bashing is fair. And believe that everyone should understand that some people – OTA grads - think that OTA is just dandy. DPK.

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