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OTA vs FTC

I recently received a check with a letter stating FTC vs OTA lawsuit and this letter stated that there was a settlement made between the FTC and OTA. it says OTA claimed to have a patented trading strategy that was likely to make a lot of money in the markets, pitch testimonials and hypothetical trades showing significant profits, instructors and sales people were active, successful traders, pointing consumers to their supposed success as evidence the strategy worked. several high profile OTA pitchmen admitted they did not make significant money trading, and more. I will not type all statements but they are all online as you should know. The reason I am emailing this is that I want a loan forgiveness on my account because all the claims that are on-line were said to me and I think the fair thing to do would be to get money back and time spent. But at this point all I ask is for the remainder of my loan to be forgiven. this is fair. thank you for reading this. Alejandro Garcia
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ID
#2943396 Review #2943396 is a subjective opinion of poster.
Location
Denver, Colorado
Cons
  • Ftc vs ota lawsuit of false claims
Loss
$5
Preferred solution
Price reduction

OTA is a fradulent institution

I was OTA's student, all the promises they made are lies. You won't make money with them because their strategy practically does not work. FTC labeled them as one of the fraudulent institutions.

User's recommendation: Stay away from them. Their strategy does not work at all. Do some research about OTA from the FTC website.

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ID
#2409509 Review #2409509 is a subjective opinion of poster.
Location
Overland Park, Kansas
Cons
  • Fraudulent
Loss
$27000
Preferred solution
Full refund

OTA- a Scam

Does anybody know a lawyer who can help with my complaint to OTA? Please let me know the lawyer contact information. Thank you!
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ID
#1704050 Review #1704050 is a subjective opinion of poster.
Location
Kissimmee, Florida

Scam scam scam

They are the worst scammers, all the reviews online are forced when you are taking tha classes, or are by the employees, they take a lot of time to make sure the internet is flooded with good reviews. They don’t tell you exactly what you’ll learn from the program and when you take the week long course they rush through all the material not explaining many important things. I got financing through a bank they suggested which they are actually partnered with where they charge a ridiculous interest rate and then the second I stopped paying they removed my ota online account, what kind of loan is that when I didn’t even finish the program?
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1 comment
#1820750

My husband and I would agree with you. My husband and I first heard about this company over the radio.

We attended their process and paid for the initial Seminar. My husband is chronically ill and so, we were looking for a way to help pay medical bills for now and in the future. After looking at their "ProPicks" we determined the program would be advantageous. Well, long story short, we were robbed of over 35 grand of our entire savings.

To this date, he has not made a dime, but on the contrary, has lost money. What has sickened me is the respect they have shown him while in the chat rooms. Calling him names, insulting him while the moderator didn't say a thing. Because he complains about the PropPicks, the other students have a knack for attacking him in order to silence him.

For some reason they feel a duty to side with the academy instead of being sensitive toward our situation. He has kept a few of the chat logs to give an idea of their hostility toward him and his complaints. What is also upsetting is how some of their instructors have shared (for free) many of the same instruction given to paid members.

You can go to FX sites and YouTube to see this. Stay away from them.

ID
#1401926 Review #1401926 is a subjective opinion of poster.
Location
Melville, New York
Product
Online Trading Academy Course
Reason of review
Bad quality

Great education for far much less than a college degree!

OTA is probably the best trading academy to learn about how to trade. I had interest in trading for quite some time and unfortunately gave my money away to two other schools. I came to OTA with reluctance and skepticism and it truly is a school of higher learning to learn how to trade. This said, trading is NOT easy; so don't think you'll be a millionaire overnight! I just wish I found OTA sooner! They have the support, can attend the classes as much as you wish, but it is up to you to make sure you are walking away with a valued education. Much like college, the university instructors aren't going to call you aside to make sure you pass the course. Each person has to take their responsibility into their own hands.
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1 comment
#1526497

Please provide proof that you are making money trading. Strange how no one is ever able to.

You reek of being an employee of OTA. This is nothing like college.

You spend tens of thousands with no degree to show for it. You would be better off taking that money, go to Vegas and put it all on black.

ID
#1124195 Review #1124195 is a subjective opinion of poster.
Product
Online Trading Academy Course
Reason of review
Great education for the price you pay
New Reviewer

Online Trading Academy lack of customer support

Update by user Aug 07, 2016

I have continued to try and reach out to the owner of Online Trading in Charlotte. Unfortunately there has been no response. I question how things are run up there and would even more strongly urge anyone who hears their very enticing sales promotions on radio to AVOID at all costs!!

Original review posted by user Jul 06, 2016
I agreed to become of member of Online Trading Academy after repeated reassurance that I could make the cost easily in the time frame discussed. This was tremendously disappointing as once the sale was done and the THOUSANDS of dollars taken, I have been greatly disappointed in the student follow up. Once they do the "profile" which they see what you can afford the push begins to bring you in. After that, nothing! Sure, you can attend the classes repeatedly, but seriously if you cant get it, there must be an issue. Why would one need to repeat classes three times? Something is amiss and I would stay away from them and NOT recommend going to any of their sales pitches.
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2 comments
#1411939

Was unsuccessful with any progress.

So sorry you had the results you did.

#1411561

Did you get you money back? My husband already has 25k lost, 20 K lost investing and now another 15k in the master mind. They are the worst scammers ever

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ID
#877715 Review #877715 is a subjective opinion of poster.
Location
Charlotte, North Carolina
Service
Online Trading Academy Customer Care
Cons
  • Which is 2 hours away
  • With the promise of good customer service
  • Being brought to the center
Reason of review
Poor customer service
Loss
$30000
Preferred solution
Full refund

Online Trading Academy

I took courses with online trading academy, but couldn't learn anything beyond the basic. I took stocks, options, futures and other classes. They don't really want to teach, instead they want me to sign up for XLT Learning Track. I didn't want to because the price was too high. Then I decided to sign up for XLT Future trading, but they pressured and tricked me into take Mastery class which cost more than $25,000 on top of $20,000 that I already paid for live classroom. It turned out to be a scam, because the instructor talked and talked on the webinar, and I couldn't learn anything that could be applied to trading since it is all personal opinion. I would not recommend anyone to take any class from OTA. It is too expensive and not helpful. The owner is very greedy and slick to come u with scams.
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ID
#612735 Review #612735 is a subjective opinion of poster.
Location
Oakland, California
Cons
  • Service
Reason of review
Pricing issue
Loss
$45000
Preferred solution
Let the company propose a solution

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