Ana Biocini
[email protected]
2365 E. 21st ST
Oakland CA 94601
(415) 571 1310

Date: January 4, 2017

ONLINE TRADING ACADEMY
1798 Technology Dr # 152
San Jose CA 95110
(408) 539 7000

Corporate Representative:

DISPUTE COMPLAINT:

I want the full reimbursement for all the Payments I made to Online Trading Academy because OTA change the Finance terms that they promised to do a Loan free of Interest Charge and I that was no true because I received an Invoice from the Loan Firm UAS where I was notified the they would begging to collect interest in the Loan because the six months promotion had expired.
This is one of the reasons I want to tear off the Tuition Agreement I made with OTA because they lie to me about the finance and thus they failed with the terms of the contract.
In addition, there is no any credit application Agreement that support the loan terms that they claimed.
In addition, looking a contract, I signed on April 23,2017 there is an overcharge of $5,000.00

I want to make Complaint against Online Trading Academy because there is a breach of Contract and fraud make by THE ONLINE TRADING ACADEMY
I Requested a full reimbursement of $9,014.00 and also, I would like you to stop to withdraw any more money from my Bank Account, until we resolve this in the court. Please also I requested to freeze my OTA account as well.

Dear Sir or Madam,

Explanation of Complaint

I am writing this letter to issue a complaint regarding of the courses I bought y from Online Trading Academy.

At the time of purchase, I was offered by your representative Grisel Saenz a promotion of a basic and futures program for $19,500.00. Normally $42,000.00
She said that this will be an especial promotion to me and asked me no to share this offer with anybody else in the classroom She Lies, later I found out that she was offered better discounts to other students.
She also told me that the Online Trading Academy would granted me with a loan free of Interest (0.00) beginning with a down payment of $10, 000.00 and the remain unpaid money will be pay in 24 months with no interest fee.

On April 22, 2017 When I enrolled in these courses She want me to paid $10,000 the down payment first on that day. (see attachment # 1 – First tuition contract that was cancelled)

I only paid $5000.00 on that day. Mrs. Saenz asked me to paid $4500.00 by next day. It was a lot of pressure and I have a bad feeling that I wasn’t treating me fairly and that the only thing the Online Trading Academy wanted was my money. They ripped me off with the first $5,000.00

Anyway, Base in this verbally agreement I did signed the tuition papers on April 22,2017 and they also attached a credit application / Retail Instalment Credit Agreement for this tuition contract (See attachment #1)
Hours later when I was at home I review the documents and I found out that The Online Trading Academy was selling me a tuition package I didn’t choose. Immediately I was sending and e- mail to my counselor Mrs. Saenz to complain about this. (See Attachment # 2 of this e-mail on April 22,2017 to verify)
The Tittle of this e – mail was: “LOOKING AT THE CONTRACT I BELIEVE YOU MUST MAKE A BIG MISTAKE “.
I was complained that the tuition contract had courses that I didn’t choose. I also complain that I found out that other students get better discounts than myself. In addition, I complain that I have no the budget to paid for these courses.
This tuition contract was canceled next day on April 23,2017 including the credit application for this loan.
I was complaining that it was too much money for the classes and that those weren’t the courses that I was choose.
Anyway, Mrs. Saenz the counselor insisted to sell me other package and remove all courses and leave only the basic program. As a result of this price change to $14,500.00 (See attachment # 3 of second tuition contract)

Mrs. Saenz wrote in this new second contract that my down payment was for $5,000.00 and the remain will be paid in 24 for months She verbally told me that the loan for 24 months has no interest Fee (0.00). They didn’t attach a new credit application / Retail Instalment Credit Agreement for this second contract
This second contract was signed on April 23, 2017.There was no new Credit loan application papers attached for this new contract.
I also was aware when Looking at this contract the amount is over charger for $5000.00. Because there is no any description to justify this extra Amount of $5,000.00 (See Attachment # 3)

The classes marked in the second tuition agreement contract are:
Core Strategy: $5000.00
Core Strategy: Part 2: 2000.00 and
Practice Labs: $2500.00 (That still I am not taking)
By adding All this together has a grand total of $9,500.00 but they are Charge $14,500.00
I like to make a complain because They lie to me about the terms of the loan because base in the second contract I signed doesn’t stated that I have to paid any interest in the loan.
Mrs. Saenz wrote in the first page of the second contract: “Paid $5000.00 Credit Card using USA billing – 24 months $10,000.00. Need a refund of $500.00 to be refund by check. Original was going to do another program”
It doesn’t say nothing about to paid any interested in the loan Since I met with my counselor in the earlier phase to discuss the courses and the tuition payments she told me that I will have an easy monthly payment beginning with a down payment of $5000.00 and the remain in 10 monthly payments with 0.00%. (See attachment # 4 of e-mail Mrs. Saenz sent me on April 27 in which she is promised a tuition discounts if I taking the 3-day class before enrollment)
They lie to me because the promotion of the 0.00% was not true. On October the Loan company UAS Finance sent me an invoice and notify me that the finance department will started to charge 17.90 % monthly and on top of that they were going to added the first six months of interest because the promotion was no good any longer after the 6 months. The invoice said that If I don’t want to be charge any interest I have to paid the full balance of the loan and that the s promotion was only good for six months. I call the loan company to discuss this and argued that this was not what I agreed with the academy and if I had known that I was going to pay interest on the loan I would never have bought the courses from the academy. (See attachment # 5)
In addition, I don’t have any credit application that was attached to the second contract signed on April 23,2017.
Furthermore, I also review the attached credit Application for the first contract and I found out that I wasn’t signed that application but it has a fake signature with my name two times and a fake initials two times as well. More over the first credit application doesn’t match cost of the loan for the second tuition contract. Consequently, this application is not valid for the second contract as this change completely including the cost of the classes.

In addition, they ripped me off with the over charge of $5000.00.

CONCLUSION:
I Requested a full reimbursement of $9014.00 and also, I would like you to stop to withdraw any more money from my Bank Account until we resolve this in the court. Please also I requested to freeze my OTA account as well.

I demanding to have a full reimbursement for the whole amount I had paid to the Online Trading Academy, because they lying about the finance terms of the contract. I was charge over $5000.00
Furthermore, I canceled the first enrollment tuition package and the only credit application agreement that was attached is dated on April 22, 2017 and it was for this first tuition agreement for the amount of $19,500.00.
This first enrolment agreement was canceled and in consequence the credit application made for this enrollment agreement it must be canceled too.
I signed a second new enrolment tuition package on April 23, 2017 but I didn’t sign a new credit application agreement for this new tuition package, in which the amount for the tuition change from $19,500.00 to $ 14,500.00.
In consequence the Finance Retail Installment credit agreement that I signed on April 22, 2017 doesn’t match the second contract for the second tuition package I signed on April 23, 2017 and there is not a retail installment credit agreement attached to the second enrollment tuition that support any financial obligations and specific terms for my second tuition package that I signed on April 23,2017.
For all these reason, the agreement between the Online Trading Academy and Myself doesn’t have any standing and the Finance contract is invalid as well.
I believe this is a breach of the contract and for this important reason I want a full reimbursement of all the payments I have been paid to Online Trading Academy.
I Requested a full reimbursement of $9,014.00 and also, I would like you to stop to withdraw any more money from my Bank Account. (See Attachment # 6 and # 7 about the payments I have already made to the OTA.)
Note: In addition, I was reading lot of complaints from student’s s that complain to be ripped off in many ways by the Online Trading Academy.
I hope we resolve this matter soon otherwise we will have to go to the court to solve this complaint

Thank You

Sincerely


Ana Biocini
2365 E. 21st Street
Oakland CA 94601
[email protected]
(415) 571 1310










.

When I went, justa few weeks ago, it was clear right from the start that the audience in the informational presentation not only contained those who were solicitored, but also fillers. One, I think, was a homeless guy. He had also attended the previous day's presentation (according to the counsellors - when I write "counsellor" read "salesmen") - which didn't make sense to me because if one hadn't made the purchase by lunch time then you were ousted and told that the program wasn't for you. This guy had arrived early, sat at the front, didn't speak to anyone, never moved out of his seat - not even for lunch- and was never pestered by salesmen. I knew from the start that he was a filler. Another was a young girl who arrived late donning a large backpack. It was immediately apparent that she had come by bus straight from the youth hostel. A counsellor hovered around her and made sure that all those around heard that she worked for her father, who was a stock broker, and that she had come of her own accord to learn more about this program. Then there was the woman sitting next to me. I thought it strange that she was never approached by a counsellor. After lunch, I asked her who was her counsellor (salesman who had solicitored her to attend the program), and she said that she didn't have one. She wasn't interested in light chit chat. She then said that if I went in with her we could pay for the 2 for 1 deal. I told there that I wasn't interested, but asked her to exchange email addresses so that if she did take on the program she could tell me about it. Shortly thereafter, I was ousted and told that the program wasn't for me, just as the only part came up that I was interested in hearing about. Sat there for 6 hrs, no free gifts, nothing, just rudeness and arrogance, as if I had wasted their time. I have since emailed this woman 3 times and found out that the email address she gave me was for a marketing company, as was the phone number. I have had no response from her. She had also been a filler. Now, the evening before, I received a call from the salesman asking if my husband was planning to attend with me. When I said no he quickly said that that was good because that day's program was already full and that he wouldn't be able to go anyway. During the presentation there were loud "hints" that there was also another informational meeting going on upstairs (of this hotel) - as if they were so popular everyone wanted in. But there was no other meeting going on upstairs - I know because when I was ousted I asked at the front desk. Their strategy is to make it such that you aren't invited or good enough so that you feel shunned and want to go. And, it was made out that the salepeople were very experienced traders and got paid well enough to take the day off to attend the presentation with the rest of us. But, there are jobs advertised for saespeople for this group all the time -and with the job comes the free courses (of course - so they can sell them) - so they weren't all professional traders. And, it was stated in the presentation that there were ways that the "student" could be reimbursed for the tuition - which was never elaborated on but what's a bet it's by "selling" the program? Why were these salespeople so desperate to make a sale when they make so much money on the markets - probably because they aren't professional traders and they either make their money by selling the program, or need to see for tuition reimbursement. And as much as it was determine by them that I wasn't a suitable candidate for their program, more than ever I am being flooded with mail and email solicitation from them. Go figure.

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Online Trading Academy SCAM

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Online Trading Academy SCAM

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Post your comment/ complaint at:
Online Trading Academy SCAM

I took a 5 day course on options from Corey Lane. He claims to make 90% return in trading. I asked him to show me proof of this and he refused, only showing me examples. The examples were selling puts on the S&P and buying puts against it. When we looked at it the recent moves in the market would have destroyed our investments. The class exchanged email address. I followed up on people who followed this advice. Their results from the selloff in August and September killed their accounts. The entire 5 days was designed around this 1 thing that could destroy you!

The class before this was ProTrader class. There are numerous complaints here about that class. Again the instructor claimed to make a living from trading but made more losing trades than winning trades in class.

They are always telling you that "you need more pieces to the puzzle, more education". Read "Buy more classes".

The place is a used car lot

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

I attended a FREE 5 hour introductory seminar @ Online Trading Academy (OTA). I was quite astounded by the lack of PROFESSIONALISM and it was clear to me that the representatives were highly trained in HIGH PRESSURE Sales. They had no problem interrupting me when asking a question to clarify a point and they were so focused on themselves and selling that they never cared to hear my viewpoint. We viewed a lot of information which was primarily up-selling and bashing of the competition. The information on the OTA was vague and very few questions from the audience were answered adequately with the primary answer being, come to the class and we will cover that. The bashing of the other training organizations was quite entertaining. It seemed like the presenter couldn’t get the information out of their mouth fast enough and the information presented was outdated and quite inaccurate. The bashing of the other trading platform sponsors showed again, older information and their lack of professionalism. I would NEVER recommend OTA to anyone.

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.

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

I was solicitored to attend a free one-day training seminar on trading. I didn't want to give this group my entire day, and the fact that they offered breakfast/lunch was of no significance to me. I was interested in trading, knew more than the average about trading, but was interested in learning more and learning of their program. So, I raced around like a crazy person that morning (I'm busy) and gave up my day to attend this seminar. I don't buy anything without doing my research, so it was clear by lunch that their high pressured, arrogant salesmen weren't going to bully me into buying on that day, regardless that I said I might go into it at a later time at a higher price after I had done my research. So, just as the presenter was about to talk about that one piece of information I had expressed an interest in learning more about - after being there for 6 hours - I was called out of the room by a salesman and told that this product wasn't for me (i.e. leave now, we don't want you). Losers. The notes asked for referrals, of which I had at least 6 people who probably would have bought in, and they know many many more in their circles. I can't believe they obliterated their opportunity to get referrals even from those who might not take on the program! The literature contains many brief raves - but not one says that he/she took the course after being referred by a friend. All seem to arrive by direct solicitation. Wonder why? This is hard sell. What you learn from this "one day" program is interesting, but useless without the trading platform they want you to use, and could be covered in under an hour but was dragged out to cover the day. So, don't go if you aren't ready to sign up. They will be very rude to you if you don't - as if you have wasted THEIR day.

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