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  • Report: #264109

Complaint Review: Online Trading Academy

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  • Submitted: Mon, July 30, 2007
  • Updated: Fri, April 06, 2012

  • Reported By:Irvington New Jersey
Online Trading Academy
600 Meadowland Parkway, Suite 146 Secaucus, New Jersey U.S.A.

Online Trading Academy another Wealth Intelligent Academy Spin off ? Ripoff Secaucus New Jersey

*General Comment: made April 21 appointment call me

*Consumer Comment: Online Trading Academy comparisons

*Consumer Comment: Not related to Wealth Intelligence Academy

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I received a R.S.V.P invitation in the mail from Online Trading Academy located in Secaucus, New Jersey. They offerred a free half day "Power Trading Workshop" limited to only 15 participants.

The workshop covers technical analysis, patterns, rooting out opportunities and execution of smart trades at the right time. This sounds very similiar to another workshop I went to years ago under Wealth Intelligence Academy / Star Trader where they lure you to a workshop and pump you up to pay for their investment classes that run any where from 10K- 65K.

Has anyone had any experience with this Online Trading Academy.

Emmett
Irvington, New Jersey
U.S.A.

This report was posted on Ripoff Report on 07/30/2007 09:50 AM and is a permanent record located here: http://www.ripoffreport.com/r/Online-Trading-Academy/Secaucus-New-Jersey-07094/Online-Trading-Academy-another-Wealth-Intelligent-Academy-Spin-off-Ripoff-Secaucus-New-J-264109. 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 General Comment

made April 21 appointment call me

AUTHOR: egr - (United States of America)

I have made an April 21 appointment with online trading.  They sure seem to have alot of bad hype, I would be interested in talking to students only, are you actually making any money?  443-852-4338 or edratman@gmail.com hope to hear from u soon already tried trading onb my own and lost 30% of my seed money.
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#2 Consumer Comment

Online Trading Academy comparisons

AUTHOR: Angry Consumer_10 - (United States of America)

I received a R.S.V.P invitation in the mail from Online Trading Academy located in Secaucus, New Jersey. They offerred a free half day "Power Trading Workshop" limited to only 15 participants. The workshop covers technical analysis, patterns, rooting out opportunities and execution of smart trades at the right time.  This sounds very similiar to another workshop I went to years ago under Wealth Intelligence Academy / Star Trader where they lure you to a workshop and pump you up to pay for their investment classes that run any where from 10K- 65K. Has anyone had any experience with this Online Trading Academy. Emmett Irvington, New Jersey

U.S.A
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I don't know anything about the wealth institute and have never been to the OTA facility in N.J. However I have attened workshops and classes in Orlando, FL.  From what I can see there a lot of similiarities between Online  Trading Academy and The Wealth Academy.

While Online Trading Academy (OTA) offers a supposedly 1/2 day workshop, it lasts about 2 hours. And while it is advertised as offering technical analysis and such, it is pure hype and a sales pitch with very little T/A.  And you will be high pressure to spend anywhere from as low as $5,000 to as much as $65,000 in one shot if you are that niave.

They cleverly bundle many of their programs together supposedly with a value of $120,000 and give it to you for a great discount of only $65,000. Of course they know you don't carry that much cash on you so they offer financing for only $2,000 down and only 18%-22% interest.  And once they get you they try to hook you on even more programs and classes.  It never stops. They call it continual education. More like continual hype and sales pitching.

Aside from this, keep in mind that Online Trading Academy is now running informercials on late night tv. And from what I understand the so called happy customers frequently appear in other informercials too.

Besides, how much credibility is there in companies that run informercials and pay people to endorse them?  Remember Teach Me To Trade a few years ago? Where are they now?

There is something to be said about education, but please do not confuse legitimate education with the product being offered here.

Another thing is how they always say that there workshops are limited to only 15-20 people but in reality usually only attract 3-6 people, sometimes less.  And then when they are cancelled, on their websites they are listed as "sold out"  Even there class attendence is hyped. The local OTA office in Orlando had a Options class a few weeks ago. We were told to enroll right away because the class would be "sold out" When we got there, we say a different story. While the room had a capacity of 20 people, there were only perhaps 6 people there. So much for "sold out"

One of their top trainers was honored with a special award recently. Funny thing, no mention was made that the company that gave the award was one of OTA's partners! Hello.
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#3 Consumer Comment

Not related to Wealth Intelligence Academy

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

The online trading academy has nothing to do with the Wealth intelligence academy. The Wealth Intelligence Academy has Teach me to Trade, Star Trader, Options Success and Rich Dad Education brands. These along with a host of real estate names. Online trading academy is probably a more affordable system and will probably bring you a better bang for your buck in the entry level classes. In the advanced level classes the Wealth Intelligence Academy classes are worth each and every penny if you actually follow the rules and learn to trade.
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