Online Trading Academy Review
Online Trading Academy was one of the market leaders in the trading education business. Things changed at the time when the Federal Trade Commission started investigations. This Online Trading Academy review provides a short overview of the things that happened.
See Also: Best Stock Trading Courses
Online Trading Academy wanted to make a difference by offering trading and investment education elements with on-location classes. Instead of teaching online, they focus on educating clients in-house since 1997.
Online Trading Academy charged as much as $45,000 and more per client. Some of the products are free half-day classes, the Core Strategy Course, XLT Core Strategy, Professional Futures Course and Forex Course and more.
The Federal Trade Commission sued Online Trading Academy for Running an Investment Training Scheme on February 12, 2020 (details), and there was an update on April 7, 2020. The most recent update was September 15, 2020, with the title “FTC Settlement Requires Online Trading Academy to Forgive Consumer Debt, and Principals to Turn Over Millions in Cash and Assets.” The founder of Online Trading Academy and some others will pay up to $8.3 million U.S. dollars in terms of a settlement with the FTC for a total of $10 million dollars to benefit injured consumers.
I did not find any details about the current owner of the Online Trading Academy. The website looks a bit different, but the address mentioned in the website’s footer is the same as months before. Time will tell how things will develop.
What is currently offered? The concepts look the same for now.
Introductory Class: The free on-location classes are still the starting point where investors learn to invest and trade step by step. The idea is to teach the way how financial markets work. The required skills for trading in volatile markets and risk management aspects are part of the free introductory class.
Market Timing Orientation: The Market Timing Orientation is a 3-day workshop about the Core Strategy. Students learn how to apply the Core Strategy in long-term investing and short-term investing. The so-called enrollment specialist provides further insights into the upcoming classes. One of my readers told me, that the Market Timing Orientation already has to be paid.
Core Strategy: The Online Trading Academy Core Strategy is a two-part course with a foundational trading course with on-demand trading education lessons and pre-essentials with a duration of 42 hours. It costs $7,700 to join the pre-requisite course, and the eXtended Learning Track (XLT) costs another $13,750.
Strategic Investor: Managing assets and growing wealth is part of this program, where minimizing risk are in its focus. Option strategies are part of this course, and the course itself contains two parts. A base course with a broad overview of bonds, equities, and key strategic investing concepts. Attendees learn to tailor a strategic asset allocation model that fits their objectives. First, there are two parts, which costs $2,000 and $3,500, and then the eXtended Learning Track (XLT) costs $13,750.
Stocks, Forex, Futures, Options: There are also specialized asset classes offered called the Stocks Program, Forex Program, Futures Program, Options Program. All of them cost $5,500 for the basic course plus $13,750 for the eXtended Learning Track (XLT).
Similarities: As you can see, all asset class courses follow the same route. The foundation course has different names but costs about $5,000, followed by the XLT course with a tuition of $13,750. Therefore a minimum of $20,000 is required to attend. To put things in the right perspective, you pay far less when attending to all courses mentioned in my 10 Best Trading Course article mentioned in the Online Trading Academy Review summary.
Mastermind Community: The OTA Mastermind Community exists for members to learn from each other. It costs $25,000 to join and increases the overall costs of about $45,000.
What changed? The price tag changed a bit, and from my understanding, the prices increased. One thing where I’m not sure right now is the payment frequency. I understood the old pricing the way that all costs were per year. Now it seems that the costs are one-time fees, but it’s hard to tell right now.
Online Trading Academy Review Summary
Online Trading Academy offers on-location education for traders and self-directed investors. Please understand that $5,000, $20,000 or even $50,000 is a word for trading education. You should do the math first and calculate the overall costs based on your education level target. Online education is the future, and it is hard to tell how OTA will make its way through the next years.
I wanted to ensure to make things as transparent as possible for you. The Online Trading Academy will be updated again once things become more transparent. As being said, the website looks a bit different for now, but the things being offered look similar.
When looking back to the previous summary, the pricing was probably one of the biggest Online Trading Academy complaints besides the Federal Trade Commission’s investigations.
Another point was the fact that OTA was a franchising concept, and it was nearly impossible to know in advance if the trading educator is a great one or not.
- On-location classes
- FTC Investigations
- High costs
- Users reported unethical enrolment practices
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