Complaint Review: Ripoff Report | Online Trading Academy - Internet
Online Trading Academy TRUSTED Business REVIEW: Customer Satisfaction Commitment: Online Trading Academy provides always-relevant education for students who want to succeed in any market condition. Dedication to 100% satisfaction helps students feel confident of their ability to find opportunities in any market condition.
*UPDATE: Recognized by Ripoff Report Corporate Advocacy Program as a safe business service Online Trading Academy pledges to always resolve any issues: feel safe, confident & secure when doing business with Online Trading Academy recognized by Ripoff Report Verified™ as a safe business service.
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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]....
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
Online Trading Academy Internet
First of all they use a high pressure sales technique to brainwash those who have money into wasting it on a simple scam. Second they only give you parts of a trading strategy in each step in their education. Third is the education is not equal to each person who pays.
To elaborate. I have been trading this way for 5 years and I have lost 5 figures on my account, not including the educational price, so I have thought through the trading strategy they present quite thoroughly. It is a scam. During their high pressure sales lectures at their bases they run through images of "core strategy" working and making money. For every one that works and makes money there are two that don't. They don't show you those. Their core strategy is based on when market makers enter the market. So you are supposed to enter when they do. The thing is that you don't know what the market makers intentions may be. I have spoken with market makers who have worked for banks, that have said they have been instructed by the banks to create false moves and lose money for the bank. It's a given that sometimes you lose in the market and sometimes you win. The core strategy characteristics are quite vast and are based on human judgement. Given that fact people make errors. Any error in any part of the plan can cause you to lose. Given the fact that you can not know what the market maker is doing and human error this core strategy is extremely risky. I have hit wins with their strategy but I have hit many more losses do to those reasons. They also don't teach chart patterns or indicators, at least not at my level, and instruct you to stay clear of those and only use price action. This is because you will have greater results with these methods than their core strategy. Their core strategy is in itself a chart pattern and I supppose if you were to enhance your trading with other patterns then you wouldn't need to pay them for the next level in education. I am just now begininng to break away from their instruction, because I lose more than I make when I listen to them.
I only got as far as the XLT program because I wanted to see if the strategy would make me money and then I could move farther forward. It does not produce the resluts expected so I did not move past the XLT. However when you ask for assistance at one of the branches or even online the answer is that you will always need to purchase something else. So I did, several times. I have actually been threatened online that I will lose my privelages if I complain.
The only thing that has helped me there is the purchase of one instructor's signature series. I purchased it because I had heard his method was more consistent than the original core strategy that I paid 5 figures to obtain. This instructor does not use core strategy and his method is the only one that is consitently working for me and I am now beginning to improve my loss ratio. However... the only way I could purchase this was through the "signature series" at a cost of $3000. Every student purchasing this class had to pay $3k. The problem is that not all students paying $3k will get the equal intruction. Since I am only an XLT member I paid the $3k for three days of direct teaching. If you are a mastermind member and had dumped out more money in the other "core strategy" education you pay $3k for three days of direct teaching and get a weekly online classes with the instructor. This class is sold as aseperate enitiy for the mastermind. It's just another sales ploy to get you to dump another 5 figures into mastermind community so that you can get the extra instruction, since 3 days is not near enough to fullly comprehend a strategy. They offered other core strategy reinforcement courses to make up for what I was not getting... but why would I care about that? I don't want to trade like that anymore. So everyone pays equal price for the course but some get more than others but only if you dump more money into other classes.
This report was posted on Ripoff Report on 08/23/2017 07:35 AM and is a permanent record located here: https://www.ripoffreport.com/reports/online-trading-academy/internet/online-trading-academy-internet-1394870. 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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