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Online Trading Academy

United States, California

Consumer reviews about Online Trading Academy

Tomatoes
Apr 10, 2012

Selling Techniques


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

Tomatoes
Apr 10, 2012

Scam


Online Trading Academy is a scam and is also based in Dubai in Knowledge Village where the company enjoys conning not only businessmen but also unemployed people who's looking for alternative ways of income. Their initial seminar is open to everyone prior to a booking where they introduce their trading courses packages accompanied by free drinks and snacks along the presentation. The prices the company presents are extremely high and there’s no proof you going to learn anything! The basic course is of 7 days for AED25, 000. If you wish to continue learning you need to apply for the next level and keep paying! The person behind the presentation doesn’t sound convincing at all!
At the end of the seminar they insistently push you to make the payment by a young good looking girl who offers you discounts that are going to finish on the same day.
They basically load your head with information and pressure you to make a quick decision on applying for the course. As this scam can be found on the web, they advise you not to research about how to learn trading online! Be aware of this scam, I didn’t fall for it but it seems like many people did it, the classroom I saw was packed! As I didn’t apply for it I kept receiving emails!

Tomatoes
Apr 11, 2012

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.

Stay away from these guys

Tomatoes
Apr 11, 2012

Misrepresentation


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

Why be rude?
Apr 11, 2012

Selling Techniques


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.

Tomatoes
Apr 11, 2012

Selling Techniques


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Online Trading Academy SCAM

Tomatoes
Apr 11, 2012

Misrepresentation


Like us on FACEBOOK!
Post your comment/ complaint at:
Online Trading Academy SCAM

Tomatoes
Apr 11, 2012

Scam


Like us on FACEBOOK!
Post your comment/ complaint at:
Online Trading Academy SCAM

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