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.
Online Trading Academy (OTA) is a professional Sales and Marketing Company that sells you your dream, and it starts with their courses starting at $6,000. Their goal is once you have bought into your dream of becoming a successful trader, they up-sell you during your seven-day class, hoping you purchase up to another $30,000! ... and if you do not choose to be up-sold, you will if you choose to re-take your class.
ALL the Sales people, called Education Counselors, work on Straight commission. They are trained professionals, or should I say, they have people who think they are professionals that have been trained by Online Trading Academy headquarters (four days!). The San Jose office has hired and fired more than 30 sales people within the last two years. The CEO could care less about his employees, his clients, etc, he is only concerned about one thing, how to turn your money into his money. He's a true professional sales person, and he is selling his employees, who are selling you!!! He learned that he'll make more money if has hundred's of people selling for him, and he teaches them how to sell the client's DREAM, totally based on emotions, nothing else. That's why they try so hard to sell you when you show up for your first Power Trading Workshop. They will even say "if you don't sign up today, we are unable to offer you x,y,and z in the future.
If you want to know how to trade, purchase five trading books and read them all. If you are unable to put the time in and read the books, you certainly do not have the discipline to put the time in and learn how to trade. So if you want to take the easy way out, attend one of their Power Trading Workshops, but when you register, dont tell them much on the phone, especially personal information.
When you attend a PTW (Power Trading Workshop), mingle with the other people and don't sit with any of the EC's (Sales People) because they are selling!
The bottom line is they are SELLING YOU YOUR DREAM! And if you think that after seven days you will become a professional trader, you deserve to loose $6,000 to Online Trading Academy, which will be first of many loosing trades. Really bad business model, which by the way, are all franchises except a few. Much the opposite of Mac Donald's, which at least provides value!
1 Updates & Rebuttals
A Nony Mouse
United States of AmericaExpensive but good training
#2Consumer Comment
Tue, January 24, 2012
FWIW, I thought the training was good. Yes, it was expensive. No, I do not work for the company, nor do I have any relationship with them other than as a customer.
To be fair, I experienced significant life changes immediately after taking the Pro Trader class, as a result of which I have not been able to trade at all, nor put into practice any of the techniques that were taught. So I cannot say whether it would have made me money.
I can say though that I thought the training was good and thorough, and I appreciate being able to re-take classes whenever I feel the need, because I know I will need it. I also like the free (for customers) educational seminars held at various times throughout the year.
It's not right to castigate the company for paying their salespeople a commission. What else would you expect?? If you think their training is bad, say so. I personally thought it was good. If you never plan to trade an account bigger than $10k, it might not make much sense to spend $5k on training. Otherwise, check 'em out - you might find that they are worth the money.