2.352 • 103 REVIEWS
Mike McMahon
Updated: Mar 13, 2023
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Online Trading Academy offers Forex, Stocks, Futures, Options trading training. Online Trading Academy offers free online classes as well as paid longer courses.
2020-02-12:  The US Federal Trade Commission has filed a suit against Online Trading Academy for running an investment trading scheme.  CLICK HERE to see the latest details.
Formerly (OTA)
2.352 • 103 REVIEWS

Traders Reviews

Jakarta, Indonesia,
Apr 18, 2021,
Registered user

I have wasted several thousands dollar for OTA education products.

Service use: Live Length of use: over 1 Year
Please stay away from this educational company. Their Supply Demand strategy is just like other technical indicator. Winning rate is not more than 45% same as MACD, RSI etc. Even SupperTrend works much better that OTA supply-demand method. I have more than 16 years experience in trading and lastly I can say I have wasted several thousands dollar for OTA education products .
John J
Atlanta, Ga, USA,
Feb 5, 2020,

Upsell to $65,000

Service use: Live Length of use: over 1 Year
The cost of there service is as follows:
Core Strategy $6000 (with XLT $11000
Forex $11,000 with an Extended learning track (XLT)
Futures $11,000 with (XLT)
Strategic Investing $11000 with (XLT)
Options $11,000 with (XLT)
After you get into these they will try to continuously up sell you to all assets.
Once you get 3 they will tell you that you need Mastermind for another $25,000 which will include on of the courses above with an XLT.
All in their courses will run you $65,000 and you have not even funded a trading account yet.
Stocks and options you are held to the PDT rule and must have a $25,000 account for you to trade. Futures and Forex accounts do not need that amount of funding.
Remember you pay and not guaranteed to make money.
Invest your $65,000 and educate yourself through Investopedia.

They are a big money company with high pressure salesman, they call them educational coaches. They sell you the dreams you are looking for with no guarantees.

I suggest you stay away and save your money!
1 trader has found this review helpful
May 17, 2019,
Registered user

If there was a better name for bait and switch, I would have used it to describe this establishment. It is a shame at the dawn of the 21st century for businesses like this still using these pretentious tactics to rob people on the basis of ignorance. I am an entrepreneur at heart, I have been self-employed for many years. I am a father of four children and my wife does not work; so, I am hustling every day to make ends meet. When I found OTA and sat with the Education Counselor for the first time, base on what she told me, I thought I had been missing out on life. What planet was I living in for never heard about such a phenomenal opportunity? and so, this thought followed me for about three weeks to the day of my orientation when I met with the front runner teacher who drove it home for me.

So, I got hooked. I saw the big picture, one day I will get to live in a neighborhood of celebrities like the professor whose neighbor is Micheal Phelps and making millions a year. You see, I am not saying this is impossible. I do believe it can happen to most of us, but not on the premise of a mere strategy taught by OTA. Let's face it, the biggest selling point of OTA is the strategy that they use, which they claimed to be patented. Because I was new to trading, I started to investigate different pattern strategies to trade. First, all experts in the field know that there is not one magic strategy. There is no one glove fits all. Speaking of risk management, there are professionals out there who are trading without using stops and it works very well for them as well.

This is a fallacy I encountered during my initial conversation with the counselor, she assured me that I was going to start making money alongside a Pro (Pro/Picks) by duplicating what he or she will be doing. I was so motivated that I went out and bought an Optiplex computer with two monitors believing that I will be making money at the same time I am learning. I got frustrated on the second day when I realized that the concept was convuluted. My program was about $19,000.00 for two classes, Features, and Forex; five days each. I was on a payment installment plan; so, $3,000.00 was taken from my account plus the $200.00 for the orientation.

Thus, after the two weeks training was over, I spent another two weeks getting familiar with the demo accounts on the platforms, Oanda and TradeStation. First, I realized that their version of TradeStation was outdated and their strategy does not stand a chance on the Forex platform. I was like Moses looking at the promised land, but will not enter it. So, I called the counselor to let her that I am not doing any further education and that the contract must be ceased and deceased. A couple of days later, I heard from headquater, which told me that I have consumed education material for more than $16,000.00 and therefore, that is what I owed the school.

My argument was, you have lied to me. Your company literally led me to believe that I was going to make enough money to pay the school installments and have some left over to take care of my family. I pleaded with him to keep the $3,200.00 and call it off, but he refused, and now, my credit is ruined with a debt of $16,000.00. Not only they shattered my credit, but debt collectors are calling me left and right, all thanks to OTA. So, let me ask you a question, do you want to be in my shoe? The last shocking news I got is: THEY ARE NOT A BBB REGISTERED MEMBER!
nj, USA,
Apr 5, 2018,
Registered user

High Pressure sales tactics. Their so-called "Core strategy" is nothing but a support and resistance chart which every trader already knows or a newbie can find on a free you tube video . The 5 day class is worth only the croissants and coffee they provide-nothing else. Save your money or even lose money actually trading, so you will learn. Paying this fraud company will not teach you anything
Toronto, Canada,
Feb 6, 2018,
Registered user

Can you afford Online Trading Academy Solutions programs?

1 day Free "teaching" is just a sale of their $300+tax 3-days orientation course. Also they say it's a discount out of $999 value course which you take today or don't take at all. Does it sounds to you as cheap selling trick which is disgusting for respected school? They give actually good picture of the situation with banks and on the market for general understanding, so if to close your eyes on pushing sale program, it can be useful for novice people on the market - I'd say eye-opening how much you need to know before you get into anything financial. And some advices were quite useful, so I cannot say that I regret about paying $300, even though I'd say that this program is overpriced for the value.
You won't get real knowledge of "tricks" in trading on that 3-day orientation - it's set up so that you understand how much you don't know what they can teach you and what consequences if you are on market without their strategy. I think their education should have some value. The question - can everybody afford to pay that much and if you can get success more than loses following their strategy? Nobody knows what exactly will be next turn. So there are loses always. The question if their strategy, sold for so expensive price, can be assuring that wins are more than loses? No, there is no guarantee. But if you are on the market, you cannot avoid loses 100%. Then to know the strategy can increase your chances to be successful, but not guarantee. So how much you would pay for the increasing the chance to get more profit than loses?

And again - the same disgusting sell trick - if you sign up TODAY (!), you will get it by ~40% discount. It's huge money studying, but you must decide it "today"!

Now about the "discounted" prices
The pick is Mastermind program which includes 4 programs, including Core, Futures or (!) Forex and 2 wealth management programs (how to save and not to lose money). It's 59,000 + tax, they claim that full price is $107,000+tax.
3 programs cost 34,000+tax (with discount) out of 62,000+tax and 2 programs cost 27,000+tax out of 42,000+tax. Is it small money to invest?
But you have to decide TODAY or you don't get the discount.

They have financing: 25% down and 5.9% for 6-mon financing , 12.9% for 1 year financing and 17.9% for 2 years financing on remaining amount after paying 25% down.
So you choose 3 programs for example and it's $38,420 after tax. .So $9605 downpayment ("today only"!) and $4881/mon if 6 mon, $2573 of 12 months, $1437/mon if 24 months. You start paying before you can make any money, before you start studying (they can create groups within a month or even two - not "tomorrow" .
And there are different "add-on" and plus you need minimal $5000 on your account to start trading and make some small money.
Can you afford it? Can you make such decisions "today"?
Is it really valuable and is worth the money?
I don't think they need students even - they make money on financing of the study. I don't see reviews of their successful students - they should have a lot of them after years of school existence.
You cannot get to see the schedule of lessons before you are enrolled - you cannot even consider your availability before you sign.
They even didn't advise about trading software at $300 course - no question was answered. Only if you are enrolled and sign up "today"
I hate those who offer even good things with such pressure. It reminds me about scam organizations developing everywhere - in traveling, for example. Sign up today and get obligation to pay.
California, USA,
Sep 12, 2017,
Registered user

Worth Every Penny or Better Yet - Every Star!

I take great exception to the comments that have been posted. I have been an OTA student for a few years now. While the education I received was not cheap, it was worth every penny! The level of education that you will receive from OTA is on the level of a college education or post college degree. You will learn what you need to know to trade the markets successfully. I also bought the Mastermind Community package, and in the Mastermind Community, I and other students meet online, share trades, trade strategies and other trade ideas in student-led sessions, as well as sessions led by OTA instructors. In fact, I led a session last Thursday in the Mastermind Community, with other mastermind students, and found a trade setup on the AUDCAD that met entry, proceeded to target and made 95 pips. OTA teaches you a repeatable process to make money in the Forex markets. As they say, you can either donate your money to the market or pay for education that will enable you to make the market PAY YOU! I prefer to make the market pay me.
Alex qu
Utah, USA,
Jul 22, 2017,

Not worth it.

I'm totally an newbie on trading but I was reading some books on it before jumping into the market and making some money but it wasn't fast enough for ms and I was hoping to find a class that could teach me how to trade better.  Then I find OTA. In July of 2017, I went to their 1/2 free seminar hoping to learn something but it was nothing but a sale pitch. Since I didn't know much and the price for their market timing class wasn't that much I end up paying 300 for their market timing class hoping to learn something new. Well well well. During the first two days of the class. 99% of the time the instructor talked about nothing but how great their school is. As of July 2017. They charge 23000 for their core plus a leverage class(i can probably get a college associate degree with that money or I can even use that money as a house down payment or even buy a car) I didn't even bother to go on the last day since I know I won't learn anything new. What a time waste. I could just buy a book and that won't cost me 300 dollars.... Thanks for nothing OTA
andy resetar
colorado, USA,
May 7, 2012,

Recently went to FREE class, paid TOO MUCH! Spent hours repeating old negative Wall Street cliches, and then called them "nuggets". Explained no matter what you saved you'd outlive your money. No new ideas. Waste of time!!
Roy Woods
, USA,
Apr 10, 2012,

After reading all the reviews I can see all points of views. Ifelt preasured to sign up even though I had more or less decided to take thier course. I took the ProTrader class. It was ok, I thought we were going to use the Tade Station platform and trade while instructors looked over my shoulder but this didn't happen. I was an experiance trader and felt the material to be repetitive. The instructor was the best part very experianced and he shared actual trading stradigies with us and traded while we watched. Seven day class could be taught in four or three and then hands on trading four days would have been nice. Heh, I can keep taking the class as long as I want. Refresher class are always good and you can pick the instructors mind. A little pricey for me but for someone with no experiance it's probabley a good learning tool.
Paul Masters
Newport Beach,
Apr 12, 2010,

I'm pretty surprised by the reviews of people who just sat in on the half day workshop! What did you expect?! Did you honestly think that it was going to be delivering the secret of trading to you in 4 hours?! I too am put off by a hard sell, but i did my due diligence and looked around at other schools and companies which were beyond sleezy! I untimately registered for the ProTrader class in Irvine, CA and am very happy with the information. The class is not about PPT as someone eluded to earlier, but the instructors personal experiences and how to learn from them. Before this class, i was making a lot of boneheaded mistakes. Through the instruction (with Ryan Watkins) i learned that not only does everyone make these mistakes, but I could have avoided them with the proper education and guidance. Had I taken this class much earlier, I would have saved THOUSANDS of dollars in stupid mistakes. Judging by the comments from people like David, i assume that he is from another educational entity. Do your due diligence! But understand that all trading schools are businesses, and there is definately going to be sales people trying to push you. Go in there, talk to the students, talk to the instructor. Then you will see that this is the real deal, i'm extremely happy and will wave the Online Trading Academy flag high!
Forex Peace Army
Review moderation team note
Review Moderation Team Note: 5 star rating removed.

This review was left from the same location as the review from Tony Harkey, VP, Marketing of Online Trading Academy left on 2010-06-15.  Per FPA policy, the rating on this review has been set to Zero stars.