Online Trading Academy BUSTED by FTC!

Online Trading Academy has settled with the Federal Trade Commission over false/unfounded claims.

[XTRADERXNYC]

I learned how to trade through their classes guys. I’m stunned that this happened. I attended their academy in New York in 2013 and started being profitable since late 2015 till this day. I trade options and the FX market. I will admit most students never grasped the fundamentals of trading

[theharveyco]

According to the FTC’s February 2020 complaint, OTA used false or unfounded earnings claims to sell “training programs” costing as much as $50, 000. The Commission alleged that OTA made misleading claims that anyone could use its patented “strategy” to generate substantial income from trading in the financial markets and claimed this strategy could generate income in any market condition.

[juancastellanos]

I paid 9, 800.00 for 2 weeks training, about 2 years ago, Nov 22 I have made not even a dollar, I wonder if i can get my money back, can someone give me some advise

[jasonrusso]

Hey I was wondering if you had any advice, you see I am 0TA student and spent thousands of dollar on their course and find it to be a false profits from the company. I Called my OTA advisor and requested a refund which he said “I could not do that for you” i’m wondering if there’s any legal actions I can take from here on to try to get my money back. Do you have any advice?

[howardkent]

I used to work for them, they promote classes and more classes without proving it really works. scam

[tvaldez]

The thing with OTA is they teach people to become a highly educated, disciplined investor, whereas most who attend the 3-day course have a mindset of "I wanna get rich quick, without spending a dime!"

[joylitz]

Let’s all keep in mind FTC is nationwide not just from one state like CALIFORNIA OTA is based on their main office from Irvine...this is a big deal for someone planning to think of signing up or pursuing trading education with OTA platform...Warren Buffet #1 advice for a beginning investor is to invest in yourself...it’s something to think about for all of us

[christophernoia]

Shit, I think my dad paid 5 grand for a course. I need to send him some info before he invests more into it.

[ericmehoke]

OTA got off far too easily. FTC could have, and should have let them have it. The road to hell is paved with good intentions, and OTA is building a highway.

[Jon.]

Also, I heard they keep baiting you until you spend like $30K for all their courses or something like that. Scam. Lol.

[Jon.]

Annuity Slayer - You da man. You bust all these scams that I once thought of joining. I attended their introductory free seminar and ate their coldcuts and cheese. Good stuff, but I didn't join. They are bait and switch. Told me after the 2nd course, I could watch live daytrading and see how it's done. I was tempted, but something didn't seem right. For one, they said they did not trade off the moving averages and used a SUPPLY AND DEMAND gauge. On the contrary, I ONLY use the moving averages, so I didn't think they were much better than I was. I guess I am right. I'm actually more of an investor than trader, but I use the moving averages to do a little bit of trading on what I invest on.

[frednesvet]

There's millions to be made but only by the sleazy promotors. Another one is called Day Trader Fun. For a mere $30K they will teach you to trade.😂😂

[brikhaghale]

Hei you’re just laying your and also your people from educates

[schultheissfarm]

You know I sit around and 'Slater pops up