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Report: #1048967

Complaint Review: Ripoff Report | Online Trading Academy TRUSTED Business | Ripoff Report Verified Safe™ …businesses consumers can trust. Online Trading Academy's roots can be traced back to 1997, as one of the largest trading floors in the U.S., with 180 traders averaging half a billion dollars in daily transactions. To improve results, managers and the top traders offered daily coaching sessions in how to trade more consistently and profitably. - Internet

  • Submitted: Tue, May 07, 2013
  • Updated: Thu, August 09, 2018
  • Reported By: Matthew Whiddon — Buda Texas
  • Online Trading Academy TRUSTED Business | Ripoff Report Verified Safe™ …businesses consumers can trust. Online Trading Academy's roots can be traced back to 1997, as one of the largest trading floors in the U.S., with 180 traders averaging half a billion dollars in daily transactions. To improve results, managers and the top traders offered daily coaching sessions in how to trade more consistently and profitably.

    Internet
    USA

Online Trading Academy TRUSTED Business REVIEW: Online Trading Academy’s executive team and instructors are dedicated to 100% customer satisfaction. Financial education model is focused on providing highest customer satisfaction in industry.
*UPDATE: Online Trading Academy pledges commitment to always improving operations by joining Ripoff Report's Corporate Advocacy Program, Online Trading Academy recognized by Ripoff Report Verified™ as a safe business service.

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Ripoff Report Verified™ REVIEW

EDitor's UPDATE: Positive rating and recognition has been given to Online Trading Academy for its full commitment to quality customer service.

Ripoff Report's discussions with Online Trading Academy have uncovered an ongoing dedication by the company to total client satisfaction. This means that clients can expect that the company will work towards finding a mutually satisfactory resolution to any concerns. Online Trading Academy listens carefully to client concerns and sees them as an opportunity to learn from past mistakes and become more efficient as a company in the services offered and the support for those services.

Positive rating and recognition has been given to Online Trading Academy for its commitment to excellence in customer service. [continued below]....
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Online Trading Academy is Ripoff Report Verified
Ripoff Report Verified™ .. part of Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program.A program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business..



The information provided in this report below is based on comments made by Eyal Shahar & Jeremy Nosek during an onsite inspection held by a third-party verification company with no biases towards Online Trading Academy.

Online Trading Academy teaches financial education, long-term investments, trading, in addition to several other financially based courses. Mr. Eyal Shahar stated the following about his company, "we’ve developed a really unique educational model that provides lifelong education. So, from our perspective, we see really great results for our students. Of course, we cannot have a specific schedule that ends because we want to support them for however long it takes for them to be successful. And that’s kind of the environment that we created. So we’ve got the physical courses in the physical centers with virtual help literally every day in kind of virtual rooms, that’s there to help them with no time expiration. It’s a lifelong relationship - that’s kind of what we do."

Leads for Online Trading Academy primary come through online advertising. Online Trading Academy ensures that all interested students are able to fully explore the courses available to them, "so usually we schedule with them several meetings and 3 days of orientation that allows them to kind of map out where they are and where they want to go. And through the process, it is also explained the types of courses that are available. And if you choose to join the academy - they select the path together with an educational counselor of which specific courses to take to achieve their financial goals. The initial courses are always physical, and every single course has a virtual environment that is a continuation of the physical course, which allows them the ability to go retake the classes physically or virtually in any combination they want for the rest of their lives. So there’s no time limitation or support limitation in any way."



CUSTOMER CARE & COMPLAINT RESOLUTION – ONLINE TRADING ACADEMY

During the on-site interview, Mr. Shahar was asked to describe a situation where a client was not satisfied with the level of service they received. Mr. Shahar expressed that they rarely will receive complaints from actual students in their program. However, "if you look at Ripoff Report most of the people that have written any comments are people that went to a half day free class, and decided not to buy." He additionally stated, "we have 97% satisfaction from all of our students. You can actually look at our website. I believe in transparency and all of our classroom surveys are automatically uploaded to our website and accessible from the home page from any center in the World, real time."

When asked to comment on complaints posted on Ripoff Report's website Mr. Jeremy Nosek stated the following, "I think the surprising thing that we’ve seen is that there are no comments on there that are actually from students. What we’ve seen is that people will come in and they had an expectation of a workshop that was different than what was delivered to them. That’s primarily been the postings that we’ve seen on Ripoff Report. They are really coming from folks that have decided to come into the free half-day class and explore Online Trading Academy and then deciding that maybe we are not a good fit for them." While there are no accreditations for their field Online Trading Academy recently obtained BCorp Certification which shows to the public that they can adhere to strict and professional criteria in order to provide students with the highest quality of educational materials.

When asked what type of changes they have made to honor their commitment to making things right with the consumer per the request of Ripoff Report, Mr. Nosek stated, "I think one of the things that we’ve really focused in on is the difference in training and investing education, between knowledge seeking and skill building. We really believe that investing and trading is a skill that you acquire more than it is a subject to be studied...so we at the academy really believe that for folks that decide that this is really something they want to do, not that this is a hobby for them to dabble in - but something they want to commit to that can give them a better lifestyle or better prepare for retirement; we like to go in and make sure that we set really clear expectations that this is not an overnight success - this is a process that they really need to commit themselves to. It takes a lot of time and energy to learn to master these skills. I think one of the things we’ve done over the past couple years is that we shifted our model of how students evaluate the education to it used to be that they would come in and take a free half-day class then make a decision on whether or not they wanted to move forward with the academy. And what we found was that for a lot of people, that was a lot of information really fast. They were in a situation where they were finding themselves making a pretty big decision on changing a part of their lifetime, money and commitment. And what we’ve done in the last couple of years is we’ve really slowed that process down for students."

Online Trading Academy is proud to be a part of Ripoff Reports Corporate Advocacy Business Remediation and Customer Satisfaction Program, "I’m really looking forward to this opportunity to partner together to make sure that people that go through Ripoff Report will have the right image for the academy. We work so hard for students to be successful in what they do and really benefiting from the education that we have. So, I’m really excited about the opportunity in partnering up with you and creating the image."



ONLINE TRADING ACADEMY – STATEMENT FROM THE COMPANY

" As a certified B Corporation, Online Trading Academy is committed to making a positive difference in the world. Certified B Corps aspire to use the power of business to solve social and environmental problems, meeting performance standards that measure a company’s impact on all of its stakeholders (e.g., workers, suppliers, community, customers and the environment). “The financial education we provide has the power to dynamically transform lives,” states Gene Longobardi, Online Trading Academy’s Chief Operating Officer. “Most people pursue our education in order to positively impact others, whether it’s a family member, another individual, a community or a worthy cause. Our entire organization is proud to be part of this global movement of using business as a force for good.”

Student satisfaction rises as students go deeper into the Online Trading Academy curriculum through education in trading and investing multiple asset classes. Unedited reviews on the Online Trading Academy website demonstrate this, with an average 4.76 rating out of 5 from over 165,000 reviewers.

One of the ways Online Trading Academy demonstrates its commitment to student success is allowing enrolled students lifetime class retakes at no additional charge. Ongoing support is also available from instructors and fellow students, because Online Trading Academy is a community of success-minded individuals dedicated to helping one another.

The U.S. stock markets were up nearly 20% in 2017, giving Online Trading Academy students the potential for exceptional gains. However, Online Trading Academy teaches investors how they can make money whether the market is up down or sideways. These skills are designed to help them secure a better future for their families. Online Trading Academy takes employee satisfaction seriously as well. Employee feedback and surveys reveal comments such as this, "From our beginnings in 1997, Online Trading Academy has sought to create success by teaching trading and investing skills. Originally, we provided training for individuals on our dedicated trading floor (then the second largest in the U.S.). Our instructors include former brokers, a Wall Street Market Maker, financial advisors and successful students. Every single person on our team is dedicated to helping students build the knowledge, skills and confidence to succeed in realizing their financial dreams. While we do our best to describe our program in the free preview class, it is not the same as taking education at Online Trading Academy. Talk to our students, or read the reviews on our website, to understand how deeply committed we are to their success. "

Ripoff Report was pleased to learn that Online Trading Academy's past and current approach to business is focused on its pledge to total commitment towards client and employee satisfaction.



STATED IMPROVEMENTS FROM ONLINE TRADING ACADEMY

Online Trading Academy recognizes that complaints posted on Ripoff Report (whether true or not) are issues that need to be addressed, not ignored. If handled correctly, complaints can be valuable learning opportunities. With the feedback generated by Ripoff Report's review, Online Trading Academy has made organizational changes allowing its clients and employees a more streamlined approach to problem resolution and a commitment to a great client experience.

In summary, after our review, which included discussions with Eyal Shahar, Ripoff Report is convinced that Online Trading Academy is committed to quality delivery of services resulting in total client satisfaction.



How does a business get Ripoff Report Verified™

The member business allows Ripoff report to email everyone from the past. Those who respond to Ripoff report with a valid complaint must be take care of. They have made a commitment that if anyone contacts Ripoff Report in the future, they will make things right within 14 days. The member business must err on the side of their customers. Otherwise the member business is off the program.

Ripoff Report has determined that Online Trading Academy meets Ripoff Report Verified™ standards which include a commitment to make a good faith effort to resolve any consumer complaints. Members of the Corporate Advocacy Business Remediation and Customer Satisfaction program do pay a fee for our on-site review, 24-hour monitoring and for support with customers to resolve any disagreements.

Ripoff Report sends a 3rd party service to do an onsite inspection of the new member business. The on-site inspection / review does not mean that the products or services offered by the business have been evaluated or endorsed by Ripoff Report, and has not made a determination as to the business' product quality or competency in performing services. We can verify, that Ripoff Report went to the business, verified their business or “work from home business”, there for, if a customer in the future does not get treated correctly, Ripoff Report can get the problem resolved. If not, and the customers is right, the member business will be taken off the Corporate Advocacy Program. Remember, Ripoff Report emailed every customer from the past that filed a complaint to make sure the member business made things right with customers from the past. Again, to err on the side of their customer, those from the past and those in the future.

Read more about why consumers should feel confident when doing business with a member of Ripoff Report's Corporate Advocacy Business Remediation & Customer Satisfaction Program. Yes, it’s a long name for a program that does a lot for both consumers and businesses alike.

Read about Ripoff Report Corporate Advocacy Business Remediation & Customer Satisfaction Program, a program that benefits the consumer, assures them of complete satisfaction and confidence when doing business with a member business. This program works.

As a matter of policy, when a business becomes a member of the Corporate Advocacy Program they agree to allow Ripoff Report to contact every client who filed a complaint, so they can make things right with them. In order to confirm that the complaints were resolved, Ripoff Report is copied on all responses, so we can insure that the member business did right by their customer.

NOW TO THE ORIGINAL REPORT THAT WAS FILED

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Online Trading Academy Nationwide 

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: https://www.ripoffreport.com/reports/online-trading-academy-trusted-business-ripoff-report-verified-safe-businesses-consumers-can-trust-online-trading-academys-roots-can-be-traced-back-to-1997-as-one-of-the-largest-trading-floors-in-the-us-with-180-traders-averaging-half-a-billion-dollars-in-daily-transactions-to-improve-results-managers-and-the-top-traders-offered-daily-coaching-sessions-in-how-to-trade-more-consistently-and-profitably/internet/online-trading-academy-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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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REBUTTALS & REPLIES:
1Author
2Consumer
0Employee/Owner

#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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