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Online Trading Academy SCAM

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

These guys (and gals) are a total scam. They bring you in for a "half-day workshop" that is really just a high-pressure sales pitch. They don't really tell you anything, except that all of the prior trading education you've received before is BS, and that they will show you a fool-proof way to trade. They supposedly will teach you how to read stock charts. They say that support and resistance are BS, but then repackage them as "supply" and "demand", and preach their gospel. The presenter is a loudmouthed "ex-pharmacist". The other employees are "education counselors" or "education coaches". Their specialty is getting you to open your wallet to the tune of $6000 for the first 7-day course. They also try to up-sell you to $20k, $30, $65k worth of courses. What a joke. The educational counselors pull prospective students from the workshop one-by-one and do 1-on-1 hard-selling, offering "today-only" discounts. These people will insult your intelligence.

I didn't fall for their crap; I hope this post saves a few of you out there too. A sucker is born every minute; don't be one of them. RUN FAR FROM THESE JERKS. Thank me later.

I have invited this individual to call me to discuss his experience in the Redmond on.line trading academy. We regularly have comments from people on the fact that we are not high pressure and very respectful of everyone who comes in. Many people are frustrated that we will not discuss the difference between support and resistance and supply and demand. This is proprietary information and as mister potato head pointed out people pay good money regularly to learn how to use supply and demand to properly time the markets.
In regards to the price of our courses they are all posted on the web. We have been in business for 15 years have 40 locations worldwide and run under a franchise model. We are not for everyone but clearly many people find what they're looking 4 here.