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Old 11-30-2009, 02:17 AM   #17

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Re: Online Trading Academy

I took the pro trader course, and I do like that you can retake, and ditto to other reviewers as far as worthiness of instructors. While their is only so much you can get out of a book, the only thing I did not like about OTA in retrospect is that they are kind of a power/pressure sales operation. Even while I was taking the pro trader course, at one part of the week, they did a one hour infomercial for their other stuff which kind of annoyed me. Especially if I am already allotting time off a busy schedule. If your brand new to all this, then it is decent.

So my review is kinda mixed. Their is nothing that they teach that you cannot get out of a book, and if someone had a perfect trading system, it would be virtually priceless. Would I do it again, knowing what I know now? Not really sure. If anyone has a specific question about it, ask me.
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Old 04-19-2011, 02:16 AM   #18

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Re: Online Trading Academy

I took almost all the OTA classes and I am a 3 XLT member.
In my opinion its worth taking the OTA Pro-Trader class if you are very new to trading. The class gives you good inside about how to read charts, different type of indicators and lots of technical analysis. But don't forget NO one is going to teach you how to make money in trading. OTA classes will introduce you to general education, it up to you how you will interpret and use this info.
Each OTA school is individually operated and owned, its a franchising. I had a good experience at the Northridge, CA location. But its a different story when you talk about the XLT class. Please do your homework before buying the XLT class. Its completely different experience from what they present to you. Don't get me wrong they do have good instructors also but and there are many buts.
Most important is that instead of paying thousands of $ for the XLT class, you can get the same recordings and information for free on the web (NO I am not black market selling the recordings, this is unethical in my book)
Pls e-mail me at market_account@yahoo.com if you like to know about the pros and cons.
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Old 04-11-2012, 02:39 AM   #19

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Exclamation Re: Online Trading Academy

SCAM! Although not new, Online Trading Academy based out of Irvine, Ca pretends to offer investment/trading education across multiple asset categories like stocks, options, futures, commodities, forex and real estate.

The cost is salty beginning at $5,000 for their basic course and up to $10,000 per mentoring class and $65,000 for their passport programs.

They have been running informercials on late night tv much like the now defunct Teach Me To Trade. More recently they are using apparently bogus testimonials on the internet posted by apparently paid shills and OTA employees.

They even have their own website which implies that it is a 3rd party review site. An obvious clue is the raving five star reviews which all look like they were written by the same person and that other accurate, but not so positive reviews are blocked and deleted.

OTA will lure you to their facility to attend a Power Trading Workshop, ostensibly a 1/2 day workshop which really only lasts about 3 hours, time for lunch and registration included.

Calling it a workshop is quite a stretch. It is a blatant sales pitch much worse than any time share presentation.

The course includes primarily basic t/a which can be found in any inexpensive book or even free on the internet.

They claim to offer a one time $2,000 schlorship discount for that day only. This is a lie.

They also promise lifetime retakes. But their class room only seats about 20 people and they are constantly pushing for more clients. Where will they put everyone? FACT: Most clients quit in frustration and even though classes and workshops are listed as "sold out", there are more often less than half full and cancelled.

And they also promise tuition reimbursement. (Don't you love the way they throw around those educational terms to make them sound like a real school?) Here again, read the fine print and really check them out. You know what they say about when things sound too good to be true.

On some websites where complaints have not been deleted, supposed company officials post rebuttals and challenge anyone to contact them at their corporate offices in California. The number is a toll number, not toll free and those who have called find it links to a voice mail and after leaving multiple messages, no one returns the calls. So much for help from corporate.

OTA also seems very upset about the increasing number of complaints appearing about them on the internet and are now charging complaintants as being people who work for the competition, frustrated, lazy students who wouldn't take the time to follow their courses, deadbeat clients who defaulted on their loans (18% interest, t hey may be right on this one!) people whose credit cards were denied and disgruntled former employees.

Before it was called Online Trading Academy, it was called bloc securties, then momentum securities, then Newport Beach securities. In Orlando, the local office ownership has changed hands five times in a few years and has had massive employee turnover.

Many of OTA's offices are located in right to work states which means that employees were probably treated unfairly so there probably are a lot of unhappy ex employees out there for sure.

However, one thing that Online Trading Academy doesn't want to admit is that they have a lot of unhappy clients and whatever is showing on the internet pales compared to what goes on in the local offices where clients are many times screaming at Online Trading Academy staff for their wrong doings and high pressure sales tactics.

Stay away from these guys!
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Old 04-13-2012, 12:53 PM   #20

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Re: Online Trading Academy

The truth is although i like online trading academy, it's probably the best "trading school", their prices are quite prohibiting for me. In order to reach their XLT level, you might need more than $15.000. I still believe that they offer great information, and I, as a forex trader i have learned a freaking lot from just the free articles of some of their traders/instructors. But still, cmon, $15.000? And that is only for forex, if you want stocks etc, you got to pay these amounts again. Especially for forex, i don't think it is worth it, as you can get all the "supply and demand" stuff that online trading academy teaches and preaches from other sites like advantage signals. Don't know if their signals are any good yet (i don't have enough data, i am still on free trial), but the educational info provided with every signal is quite unique. Anyway, about online trading academy, if i was rich and wanted to learn about forex trading, i think i would give them a shot. But I cant pay for that now anyway :P If you want to buy me a "passport" to their classes for my birthday, then ok!
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Old 04-02-2013, 07:06 PM   #21

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Re: Online Trading Academy

Hi, check out this conversation thread also going on right now about Online Trading Academy, fyi , you may find it helpful also. ~ pb
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Old 04-02-2013, 07:09 PM   #22

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Re: Online Trading Academy

Don't know how to link here, so try this to see the other convo going on about them right now... good luck!

http://www.traderslaboratory.com/for...tml#post176838
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