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onlinetradingacademy.com (Mike Mc Mahon) Review

Overall Rating: (2.725)
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Total Reviews: 88
Last Updated: 2014-03-25
Special Notes:

January-Feb 2010: The FPA has receive a number of fake positive reviews for this company.

 

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Marc Russell, Las Vegas, USA

Rating:
Date of Post:2013-03-25
Review: Went to 1/2 day seminar and was turned off by their stealth high pressure tactics. A friend did sign up for their three day but was kicked out after the first day when he refused to disclose his finances to them.

hey, hey, USA

Rating:
Date of Post:2013-02-11
Review: people who can trade, don't need to do anything else
... people who can't trade, train

there is no risk in training people, as long as you don't have to show a track record

Trade Up, Tampa, USA

Rating:
Date of Post:2012-12-26
Review: I went there expecting a free half day training class and information on there training. What I got was a feeling I was with a "time Shares Sales Guy" or Used car salesman! there was zero training! No Lunch as promised! No free USB! Just hype about how rich they all are and they are only there because its there passion.

harsh, india, India

Rating:
Date of Post:2012-12-08
Review: My name is Harsh,from Bombay - India.I have got a chance to take up a small course with OTA.It was worth taking it.Though the pricing is little premiumed but you wont repent spending it.

Pakvi Roti, Fort Worth, USA

Rating: No Rating
Date of Post:2012-09-17
Review: First, for all of the individuals who went to the FREE half day 'Seminar' expecting to learn to trade, you sure are naive. That 'Seminar' is a SALES event to get customers to sign up for classes.

Except for OTA's HQ in California, ALL OTA offices are franchisee's, some of them are less than ethical in their sales tactics. However, the educational content is strictly controlled by HQ and is an excellent value. Of course that depends on the intelligence of the person attending, Trading isn't for dummies.

Full Disclosure: I worked for an OTA franchisee in the mid 90's, briefly. I've sat in on classes, and I have paid for classes. The knowledge gained has been invaluable in furthering my trading.

Michael Bellissemo, Chicago IL, USA

Rating:
Date of Post:2012-07-24
Review: I also went to their 1/2 day seminar to check it out and was pulled in to a room for a sales pitch. I signed up for the 12K package. I went home somewhat excitied but then figured out that until I took the full 7 day class that I would not be able to receive what I thought were the full benefits of the program (Graduate). Because of my scheudle I could not do that at this time. When I attempted to get out of the contract and possible do this down the road I got the complete run around. I am currently fighting them over this and will not pay one penny! They continuously state that the contract I signed will be fully enforceed. I actually contacted the owner of the Chicago franchise directly after getting the run around from the GM of the branch and he informed me that he will schedule me for the full 7 day class in Sept. to which I said I would not have the time to do that. I would like to think these guys are legit and want their students who pay a tremendous amount of money to be successful but all I am getting so far is BS. I have not yet taken the classes so i don't know what i would expereince. However because of the run around invlioving my current situation and not willing to work with me I am not sure I would want anything to do with these guys.

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M. G. R., Nashville, USA

Rating:
Date of Post:2012-07-11
Review: Just got back from a sales pitch "seminar." When I originally signed up for it, they told me they were going to discuss options. When the guy went over his agenda for the day, he didn't mention covering options at all. I stayed for 1.5 hours of the total day, and that was 1.5 hours of wasted time. I normally only give a webinar, seminar, book, dvd, etc. about one hour of my time before I decide whether to stay or keep going, but I gave them until the first break hoping it would get better after an hour; it didn't. They did end up briefly mentioning options, forex, and futures--only to bash them and to say they were for people who are too cheap or scared to trade stocks. Hah! Most people I know who are personally doing really well in the market right now (some making millions) are trading options. And to think I wasted an entire morning trading session because of these clowns! Save your time and energy and read good quality trading books by Thomas Carr or Wendy Kirkland or Chuck Hughes. You'll probably learn way more from them in books and on their websites than you will sitting in an all-day-long commercial seminar that just covers you-should-be-trading rather than the nitty gritty how-tos.

B. CONNELL, CHARLOTTE, USA

Rating:
Date of Post:2012-07-07
Review: NOTHING BUT TRUTH HERE!!!! I am a beginner looking to learn. Unfortunately this free class is not the place to do it. the free jump drive with info....didnt get. the ability to actually trade with their capitol....didnt get. got pulled out of the class for the sales pitch and when i said i would research the company before giving them 3000$ of my money, i was told "well if u cant do it now, then your not up to par for our course"...really?!?!?! and from what i've read the classes u pay for are alot like promos for the next class up., of course for more $$$. I'd rather spend 500$ in books and take my chances. nothing but a time share pitch but with stocks only the time share pitches are better

Tracy, Bloomington MN, USA

Rating:
Date of Post:2012-05-31
Review: I am contemplating signing up for their classes and have already attended their 1/2 day introduction session. I think I went into it with very realistic expectations. I knew that this session was going to be a sales pitch to sign up for their educational sessions. My husband and I had already decided that I would not sign up for any classes that day, so having that already decided gave me the opportunity to "good cop/bad cop" them a little bit; i.e. I was very enthusiastic and wanted to sign up but due to the cost involved I needed to call my husband and talk with him first. This allowed me to leave the building and make my phone call. When I walked back in I told them simply that my husband said no for now and wanted me to wait and get more information first. I don't feel that they used high pressure sales tactics with me, I felt they were very respectful instead. I did have to specifically ask for the promised flash drive with the additional content (since I had left the building for a short time I missed some of the content), knowing that it also contained more sales pitch information so that I could review that with my husband.

I've watched the video training and can tell you it's basic stuff, and yet it is still stuff I DO still struggle with (particularly sections on trading psychology). Reviewing the 7 Pillars of successful trading and also the 10 Laws of trading has been helpful for me, because when they are describing some of the things we should not be doing, I readily admit that I still tend to do those things because of fear/greed. Those sections were a very good review for me. Next I viewed the video on technical analysis, and much of the info there is basic and certainly seasoned traders might not get much from it, but for us novice or amateurs it is a good primer or review. There were things I learned from it that I did not know before so I'm glad I went through it. I think it is a nice change from trying to learn everything from books, because listening and viewing video is another way to learn material and it was presented clearly and I found that refreshing.

So for now all I am reviewing is the free 1/2 day session, and I especially feel it was a good value... free lunch, free 1.86 GB USB flash disk with some good review lessons on it, and I got more information about the education available with them which was exactly the type of info I was interested in. The only reason why I give them 4 out of 5 stars is that I am disappointed in the cost of classes with them (i.e. a full load semester at a state university is cheaper than just 7 days with them). But I am encouraged that they will continue to contact me and offer me reduced prices to try to entice me back. I may just take them up on some of those offers... we will see.

darmin, surrey, Canada

Rating:
Date of Post:2012-05-16
Review: They're "trading" 3,000 shares at a time so the little 15 cent moves they capture in their Pro Picks amount to something. Or not. Most of them don't work.
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