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Online Trading Academy SCAM
(you just need to type "scam" on the search box and the Page comes up)

http://www.facebook.com/#!/pages/Online-Trading-Academy-SCAM/103159303152106

This website saved my butt! Of course I suppose there are two sides to every story, but these are my own honest opinions and impressions of Better Trades.

I've been in sales most of my life and these people are good... almost had me sucked in and I used to write about scams! But hold on to your credit card and the $2,995.00 plus $6,000.00 more for trading software ($8,995.00 total) they say you don't need but do.

These people are smooth... I attended the free seminar in Las Vegas where a girl filled out my name tag in BIG letters you could see from Mars. Then about 40 of us little naive lambs were led to the slaughter. The Ringmaster spends the first half hour talking about himself, the hardship of taking care of a sick child etc. How he met a Better Trades honcho who invited him to a seminar and Shazaaam! His life was changed Halleluha (sp). Then he threw in clever words like, 'I'm blessed' how Jeses used such principles...'believer' etc. These are sales techniques used to imply that he's a good guy, perhaps a Christian...yet subtle enough not offend non-Christians, thus pleasing both sides. Then he uses the oversized NAME TAG plastered on each attendee's chest to call everyone by their first name...'Isn't that right STEVE?' You're a working man, right GREG?' Stuff like that to make you feel subconsciously that's he's your friend. But of course he's not. You don't even know the guy. He's a stranger... worse... a preditor out to separate you from your hard earned cash.

Then he goes into the presentation...shows basic trade stuff (channeling stocks etc.) Then he shows testimonial videos...most or all, I'm told by a little bird, are company employees...(although I'm sure they'll find a clever way around that complaint) Hey, I used to work in the infomercial business...we used 'shills' fake people all the time...we put them to work and made certain they succeeded.

Then they allude to the fact that the heads of this scam company on the video will be your instructors when they have you come back in a couple of weeks for the 2 day 'seminar.' NOT! It's some guy they hired on their website under 'Job Opportunities'. Then finally the price! In the last ten minutes he hits you with the $3,995.00 price tag that you can have TONIGHT ONLY for $2,995.00 Yeah, sure. I suppose if you came back or called a week later with your credit card...they would say 'I'm sorry we can't take your $2,995.00 now. Yeah, right.

'And of course don't forget to get your free gift when you leave tonight.' Come on, I knew I wasn't hanging around the entire 2 hours (actually 3 hrs), for an IPOD, (my incentive for staying through the entire presentation). But come on... the 'free gift' was a shlocky DVD infomercial of THEM! I suppose one last ditch sales effort.

BUT NOW THE BEST PART:
The 'Positive Posts' of Better Trades students on this sight, allegedly put there by happy satisfied traders. Ever wonder why the positives out-number the negatives on a 'Rip Off' sight. It's called damage control! I know, I used to be head of damage control for a company. Most of these companies are accustomed to the heat, so they have people monitor these sights leaving good posts as damage control under different names and emails. I suppose for the Better Trades guy this has turned into a full time job.

FIRST: Why would satisfied clients take the time to go to this site AFTER the fact? After they already have purchased and were happy and successful?

SECOND: Look at the language used in the positive posts here... It's all BETTER TRADES lingo... sounds like a sales pitch right from the company.

THIRD: They are excellent spindoctors... using psychology to make people who complain think it's their fault... with statements like...'these people misunderstood...it's only to educate' 'You have to apply the principles yourself.' 'Options trading is hard.' (The Ringmaster at the free seminar sells the Better Trades program on the premise that they make it easy.) Otherwise why am I spending all this money with them.

FORTH: Notice how these strongly suspected fake positive posts are written... not only in their lingo, but they throw in a LOT OF typos to persuade you that they are just the average 'Joe' or 'Jane' who took this course and made tons of money... and not professional Better Trades damage control operative.

FIFTH: These 'shills' talk about the guarantee. The guarantee is that you'll make back 3 times your initial $3000.00 course fee in 6 months or get a refund.....just make the required number of trades. Well, they claim you can start with as little as $500.00! Wow, if I could turn $500 into $9000 in 6 months....that's something like a 18000% profit. I'd be on CNBC with my own show! PLUS, how do they know how much money I have to even invest! Also, do they reimburse you for all the money you lost while trying to implement their bogus program.

SOME LOGICAL QUESTIONS TO ASK YOURSELF:

QUESTION: Why do they not allow questions in front of the open group so everyone gets the benefit? (All questions must be private)

ANSWER: Because questions (although they have clever scripted responses) cause people to think! And may spur more questions they can't really answer like....'Do I need to buy anything else after my 3000 buck toss of the dice?' 'How much is all that?' 'Do you have other students in the local area who have been successful and can I contact them!' That question alone would throw them into a coronary!

QUESTION: If they want you to truly succeed, then why not tell you what the FULL total is to buy their complete bag of tricks? If you really want to help people, why not let them know the full potential cost??? Yes, I hear them now... you don't need all that expensive software to succeed. BULL!

ANSWER: Because these con artists are well trained to get at least $3000 out of you before you leave the room. If people knew the real cost they would be tripping over each other before the Ringmaster could say 'Howdy!'

They run at least 8 free seminars in each city per run. If 30 people attend and they only get 2 per free seminar to sign....that's $54,000.00 not to mention that half of the 16 purchasers buy another $5000.00 of software on average, that's another $40,000.00 for a total profit of about $94,000. Not bad for a two day seminar! Not to mention all the other revenue they generate with $99.00 classes on line. And these guys go from city to city all over the country. Hey I want to buy stock in Better Trades! Who needs to invest in options making this kind of dough?

QUESTION: If these mentors, teachers, trainers etc... are suppose to be the experts in options trading...then why aren't they just DOING IT! Like the Ringmaster explained it...'You place a few trades late at night with a few limit orders, then let it trade. Buy low, sell higher, It's all automated at that point...takes the emotion out of it.' Why aren't these 'expert mentors' trading themselves to riches an hour a day like the company alleges we all can... and then heading to the beach...or a game of tennis, instead of hanging on the phone for hours each day working a full time job at Better Trades or at the computer 'mentoring' gullible people on trading their way to financial nervana in options. Wouldn't that mentor guy just do it for himself? Why does he have to work for Better Trades anyway if he's the options expert making all this money.

ANSWER: He believes in Jesus and helping people! No, wait a minute that's thr Ringmasters line. No, he's working as a Better Trades employee because he can't do it! But he he can tell you how you should do it, using your own money... And if you lose all your money (It's happened), then you must not be applying yourself or buying enough overpriced software... 'Hey pal, we can't guarantee you'll get rich...you got make keep taking more classes at 99.00 a pop I guess. This option stuff is hard work!'

QUESTION: Why do they keep changing their company name?
ANSWER: Many scams have frequently change their name because the heat gets too hot on them...their company name gets connected as a scam after so many ripped off people funnel through and complain. Better Trades used to be called 'Short Term Long Term'...or...'Long Term Short Term'...whatever, until they changed it to Better Trades in 2006.


CONCLUSION: You wonder if these people have a conscience? How do they sleep at night? I suppose they rationalize thet they are simply offering educational services. But certainly they must know how they are hurting people. I guess the huge amount of money they generate from these seminars is the anesthetic that numbs their hearts.

Still, their are some basic truths in this free seminar like 7 out of 10 people lose money in trading...and that the options business is exploding. But after trading options a long time...I've learned that all of the fancy software in the world and all of the overpriced scam options seminars (Yes, they are all rip offs, or let's just say less than honest), I've learned that nothing can replace good common sense when researching a stock...oil goes up when hurricanes approach...good earnings usually yield a rise in the stock, bad earnings the opposite...growth companies with momentum usually return a good yield... 'Hey, any dope could tell APPLE would go up! I split up my portfolio by chosing good companies with good valuation (there are plenty) and invest them long term which for me is 60 day Call options just in the money. Then find companies with a little bit of volatilty...buy Calls and Puts. Everybody knew Beazer and KB Home were headed down considering the real estate market these days. All it takes is research on your part! Read books...study the good stock websites like Stockpikr etc. Jim Cramer is no demi God, but he offers a lot of tips on good companies and tells you to do your own research. Watch Fast Money, get the opinions of some of the top brokers. Watch CNBC, and if you work during the day, tape it. And let's not forget the main reason why so many people are playing options and making money these days! THE INTERNET! There is a wealth of research info on the Web! Most of it free! Charts and all.

I'll watch for the Better Trades damage control guy to post his response under the disguise of 'Another Happy Customer'. I'm sure he'll have a clever come back...but they can't fight the truth. Like the Good Book says....'And the truth shall set you free!'

So take that $2,995.00 plus that you would have given to these Better Trades con men, do some basic research, watch the weather report, and put that money to work in the market for yourself instead!

Hey you're already $2,995.00 ahead!

SCAM!
I believe Better Trades and Online Trading Academy are the same company!
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, they 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.

This is just one of the many Organized Crimes that have been operated globally.
Stay away from these guys