Online Trading Academy |
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Consumer reviews about Online Trading Academy |
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C Sloan
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Dec 28, 2011
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Misrepresentation
Thank you to the good people who freely share their knowledge and experience ; adding clarity to things.
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Angie F
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Jan 5, 2012
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Misrepresentation
An associates degree at a good university will cost around $35, 000 and take 2+ years to complete.
A bachelors degree will cost $70, 000 and take 4 years to complete.
Online Trading Academy wants us to believe that they can charge us $5, 000 and teach us everything we need to know in 7 days and promise to make us zillionaires? C'MON!
If we buy into the continued education pitch, we can expect to spend $65, 000-$100, 000 over time. Colleges and Universities have placement systems in place and and can tell you on average how much certain professions you train for can pay you. Try asking Online Trading Academy for some proof of anyone making money over any length of time; 7 days, 7 months, 7 years??? What do you get? Nada, zilch, nothing. Just a lot of promises.
My guess is that Online Trading Academy will be just another one of those short lived scams that will be replaced by yet another similiar company in time. A new company seems to emerge every 5 years or so (or sooner)
If you do decide to take a peek at this company, at least come prepared to ask them the tough questions and leave your wallet in the car (or better yet, at home)
And please do not ever confuse these fast talking huksters and their brand of crap with legitimate schools and legitimate education that actually pays for itself.
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MartinWI
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Mar 18, 2012
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Misrepresentation
I'm an OTA Grad. And also bought an XLT. I also did the Investools course. OTA is the real deal for me. I spent $10, 000 and DO NOT regret it. I am still learning. And I can see the OTA training taking hold. It is work - anyone who thinks attending a course for 7 days will let you start raking in the dough is an idiot. But if you have a brain, and apply what they tell you, and make use of their many many free continuing services and educational offerings like PRO PICKS, HOUR WITH THE PROS, XLT, Newsletter, etc... you WILL have all you need to be successful. If you don't it's because you're not cut out to be a trader, so go find another way to make a living. Many in here say to go to other places and learn for free, and offer links, etc. Many of those are good suggestions. One should continue learning via many avenues, of course! I do. OTA will give you the tools you need if you take the time to learn how to use them. They will show you how to separate the B.S. from the truth among the market shows and talking heads. They will show you how to be disciplined and plan your trades. (Fail to plan, plan to fail.) Too many bashers on this board, I think many of you are looking for the magic bullet, and you don't want to do the work AFTER the class to make it work. I'm a past student, and I'm a believer. By the way, if you don't think ANY organzation that sells Education is going to try to sell you hard, you are again not living in reality. By the way, I attended about 5 free work shops of various sorts over about an 18 month period before I finally signed up. Never did I feel pressured or unwelcome. For me, it IS a family atmosphere - I'm talking OTA Milwaukee (Germantown actually). That's my experience. Marty
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templet
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Mar 26, 2012
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Misrepresentation
I took the OTA ProTrader course about a year ago. I keep up with several of my coursemates. None of us are making money on a regular basis. In fact, I don't know of anyone from my class who is net positive on their trading after taking this course. The info presented is real beginner stuff. I spent 6 months trying to apply it and lost only a little bit because I was cautiously trading very small positions. I signed up for the XLT (extended learning track) program thinking I'd surely learn a lot more from professional traders, but it wasn't to be. For one thing, the course material repeats after a relatively small of lessons. Also, the sessions take a lot of time and teach mainly more of the beginner stuff I learned in ProTrader. I quit watching the XLT sessions after about 3 months. It was largely money wasted. Since then I've spent a lot of time and some more money studying the offerings of other sources. I've learned a lot more about indicators, market action, etc. I think much of this should have been taught in the ProTrader beginner course. And there is always heavy sales pressure to sign up for ever more "advanced" courses. In retrospect, I wish I had spent my money differently. I now use very little that I learned in ProTrader or the XLT.
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points2
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Apr 2, 2012
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Hard Time Cancelling Class
Glad for the smart and articulate people that gave feedback on this. I just called to cancel going to a TA workshop. I dont want to spend $1000/day on training! The guy never mentioned the cost till I asked twice (of course). Geez, for that, I can almost go to an accredited college! Promotional workshops are to get attendees to pay $ thousands -once you invested time & get caught up in the hype/excitement/pressure/intimidation. A hard sell ! Ugh. After all, they spent 1/2 a day talking... If one goes-hold on to your money, and tell then youneed more time to decide. They will be back.
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Tomatoes
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Apr 10, 2012
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Misrepresentation
SCAM! Although not new, Online Trading Academy based out of Irvine, Ca pretends to offer investment/trading education across multiple asset categories like stocks, options, futures, commodities, forex and real estate.
The cost is salty beginning at $5, 000 for their basic course and up to $10, 000 per mentoring class and $65, 000 for their passport programs.
They have been running informercials on late night tv much like the now defunct Teach Me To Trade. More recently they are using apparently bogus testimonials on the internet posted by apparently paid shills and OTA employees.
They even have their own website which implies that it is a 3rd party review site. An obvious clue is the raving five star reviews which all look like they were written by the same person and that other accurate, but not so positive reviews are blocked and deleted.
OTA will lure you to their facility to attend a Power Trading Workshop, ostensibly a 1/2 day workshop which really only lasts about 3 hours, time for lunch and registration included.
Calling it a workshop is quite a stretch. It is a blatant sales pitch much worse than any time share presentation.
The course includes primarily basic t/a which can be found in any inexpensive book or even free on the internet.
They claim to offer a one time $2, 000 schlorship discount for that day only. This is a lie.
They also promise lifetime retakes. But their class room only seats about 20 people and they are constantly pushing for more clients. Where will they put everyone? FACT: Most clients quit in frustration and even though classes and workshops are listed as "sold out", there are more often less than half full and cancelled.
And they also promise tuition reimbursement. (Don't you love the way they throw around those educational terms to make them sound like a real school?) Here again, read the fine print and really check them out. You know what they say about when things sound too good to be true.
On some websites where complaints have not been deleted, supposed company officials post rebuttals and challenge anyone to contact them at their corporate offices in California. The number is a toll number, not toll free and those who have called find it links to a voice mail and after leaving multiple messages, no one returns the calls. So much for help from corporate.
OTA also seems very upset about the increasing number of complaints appearing about them on the internet and are now charging complaintants as being people who work for the competition, frustrated, lazy students who wouldn't take the time to follow their courses, deadbeat clients who defaulted on their loans (18% interest, t hey may be right on this one!) people whose credit cards were denied and disgruntled former employees.
Before it was called Online Trading Academy, it was called bloc securties, then momentum securities, then Newport Beach securities. In Orlando, the local office ownership has changed hands five times in a few years and has had massive employee turnover.
Many of OTA's offices are located in right to work states which means that employees were probably treated unfairly so there probably are a lot of unhappy ex employees out there for sure.
However, one thing that Online Trading Academy doesn't want to admit is that they have a lot of unhappy clients and whatever is showing on the internet pales compared to what goes on in the local offices where clients are many times screaming at Online Trading Academy staff for their wrong doings and high pressure sales tactics.
Stay away from these guys
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Tomatoes
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Apr 10, 2012
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Misrepresentation
Online Trading Academy is a SCAM and is also based in Dubai in Knowledge Village where the company enjoys conning not only businessmen but also unemployed people who's looking for alternative ways of income. Their initial seminar is open to everyone prior to a booking where they introduce their trading courses packages accompanied by free drinks and snacks along the presentation. The prices the company presents are extremely high and there’s no proof you going to learn anything! The basic course is of 7 days for AED25, 000. If you wish to continue learning you need to apply for the next level and keep paying! The person behind the presentation doesn’t sound convincing at all!
At the end of the seminar they insistently push you to make the payment by a young good looking girl who offers you discounts that are going to finish on the same day.
They basically load your head with information and pressure you to make a quick decision on applying for the course. As this scam can be found on the web, they advise you not to research about how to learn trading online! Be aware of this scam, I didn’t fall for it but it seems like many people did it, the classroom I saw was packed! As I didn’t apply for it I kept receiving emails!
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Tomatoes
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Apr 10, 2012
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Wonderful School
SCAM! Although not new, Online Trading Academy based out of Irvine, Ca pretends to offer investment/trading education across multiple asset categories like stocks, options, futures, commodities, forex and real estate.
The cost is salty beginning at $5, 000 for their basic course and up to $10, 000 per mentoring class and $65, 000 for their passport programs.
They have been running informercials on late night tv much like the now defunct Teach Me To Trade. More recently they are using apparently bogus testimonials on the internet posted by apparently paid shills and OTA employees.
They even have their own website which implies that it is a 3rd party review site. An obvious clue is the raving five star reviews which all look like they were written by the same person and that other accurate, but not so positive reviews are blocked and deleted.
OTA will lure you to their facility to attend a Power Trading Workshop, ostensibly a 1/2 day workshop which really only lasts about 3 hours, time for lunch and registration included.
Calling it a workshop is quite a stretch. It is a blatant sales pitch much worse than any time share presentation.
The course includes primarily basic t/a which can be found in any inexpensive book or even free on the internet.
They claim to offer a one time $2, 000 schlorship discount for that day only. This is a lie.
They also promise lifetime retakes. But their class room only seats about 20 people and they are constantly pushing for more clients. Where will they put everyone? FACT: Most clients quit in frustration and even though classes and workshops are listed as "sold out", there are more often less than half full and cancelled.
And they also promise tuition reimbursement. (Don't you love the way they throw around those educational terms to make them sound like a real school?) Here again, read the fine print and really check them out. You know what they say about when things sound too good to be true.
On some websites where complaints have not been deleted, supposed company officials post rebuttals and challenge anyone to contact them at their corporate offices in California. The number is a toll number, not toll free and those who have called find it links to a voice mail and after leaving multiple messages, no one returns the calls. So much for help from corporate.
OTA also seems very upset about the increasing number of complaints appearing about them on the internet and are now charging complaintants as being people who work for the competition, frustrated, lazy students who wouldn't take the time to follow their courses, deadbeat clients who defaulted on their loans (18% interest, t hey may be right on this one!) people whose credit cards were denied and disgruntled former employees.
Before it was called Online Trading Academy, it was called bloc securties, then momentum securities, then Newport Beach securities. In Orlando, the local office ownership has changed hands five times in a few years and has had massive employee turnover.
Many of OTA's offices are located in right to work states which means that employees were probably treated unfairly so there probably are a lot of unhappy ex employees out there for sure.
However, one thing that Online Trading Academy doesn't want to admit is that they have a lot of unhappy clients and whatever is showing on the internet pales compared to what goes on in the local offices where clients are many times screaming at Online Trading Academy staff for their wrong doings and high pressure sales tactics.
Stay away from these guys
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Tomatoes
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Apr 10, 2012
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Misrepresentation
Online Trading Academy is a scam and is also based in Dubai in Knowledge Village where the company enjoys conning not only businessmen but also unemployed people who's looking for alternative ways of income. Their initial seminar is open to everyone prior to a booking where they introduce their trading courses packages accompanied by free drinks and snacks along the presentation. The prices the company presents are extremely high and there’s no proof you going to learn anything! The basic course is of 7 days for AED25, 000. If you wish to continue learning you need to apply for the next level and keep paying! The person behind the presentation doesn’t sound convincing at all!
At the end of the seminar they insistently push you to make the payment by a young good looking girl who offers you discounts that are going to finish on the same day.
They basically load your head with information and pressure you to make a quick decision on applying for the course. As this scam can be found on the web, they advise you not to research about how to learn trading online! Be aware of this scam, I didn’t fall for it but it seems like many people did it, the classroom I saw was packed! As I didn’t apply for it I kept receiving emails!
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Tomatoes
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Apr 11, 2012
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Misrepresentation
SCAM! Although not new, Online Trading Academy based out of Irvine, Ca pretends to offer investment/trading education across multiple asset categories like stocks, options, futures, commodities, forex and real estate.
The cost is salty beginning at $5, 000 for their basic course and up to $10, 000 per mentoring class and $65, 000 for their passport programs. They have been running informercials on late night tv much like the now defunct Teach Me To Trade. More recently they are using apparently bogus testimonials on the internet posted by apparently paid shills and OTA employees. They even have their own website which implies that it is a 3rd party review site. An obvious clue is the raving five star reviews which all look like they were written by the same person and that other accurate, but not so positive reviews are blocked and deleted.
OTA will lure you to their facility to attend a Power Trading Workshop, ostensibly a 1/2 day workshop which really only lasts about 3 hours, time for lunch and registration included. Calling it a workshop is quite a stretch. It is a blatant sales pitch much worse than any time share presentation.
The course includes primarily basic t/a which can be found in any inexpensive book or even free on the internet. They claim to offer a one time $2, 000 schlorship discount for that day only. This is a lie.
They also promise lifetime retakes. But their class room only seats about 20 people and they are constantly pushing for more clients. Where will they put everyone? FACT: Most clients quit in frustration and even though classes and workshops are listed as "sold out", there are more often less than half full and cancelled.
And they also promise tuition reimbursement. (Don't you love the way they throw around those educational terms to make them sound like a real school?) Here again, read the fine print and really check them out. You know what they say about when things sound too good to be true.
On some websites where complaints have not been deleted, supposed company officials post rebuttals and challenge anyone to contact them at their corporate offices in California. The number is a toll number, not toll free and those who have called find it links to a voice mail and after leaving multiple messages, no one returns the calls. So much for help from corporate.
OTA also seems very upset about the increasing number of complaints appearing about them on the internet and are now charging complaintants as being people who work for the competition, frustrated, lazy students who wouldn't take the time to follow their courses, deadbeat clients who defaulted on their loans (18% interest, t hey may be right on this one!) people whose credit cards were denied and disgruntled former employees.
Before it was called Online Trading Academy, it was called bloc securties, then momentum securities, then Newport Beach securities. In Orlando, the local office ownership has changed hands five times in a few years and has had massive employee turnover.
Many of OTA's offices are located in right to work states which means that employees were probably treated unfairly so there probably are a lot of unhappy ex employees out there for sure.
However, one thing that Online Trading Academy doesn't want to admit is that they have a lot of unhappy clients and whatever is showing on the internet pales compared to what goes on in the local offices where clients are many times screaming at Online Trading Academy staff for their wrong doings and high pressure sales tactics.
Stay away from these guys
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Tomatoes
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Apr 11, 2012
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Hard Time Cancelling Class
SCAM! Although not new, Online Trading Academy based out of Irvine, Ca pretends to offer investment/trading education across multiple asset categories like stocks, options, futures, commodities, forex and real estate.
The cost is salty beginning at $5, 000 for their basic course and up to $10, 000 per mentoring class and $65, 000 for their passport programs. They have been running informercials on late night tv much like the now defunct Teach Me To Trade. More recently they are using apparently bogus testimonials on the internet posted by apparently paid shills and OTA employees. They even have their own website which implies that it is a 3rd party review site. An obvious clue is the raving five star reviews which all look like they were written by the same person and that other accurate, but not so positive reviews are blocked and deleted.
OTA will lure you to their facility to attend a Power Trading Workshop, ostensibly a 1/2 day workshop which really only lasts about 3 hours, time for lunch and registration included. Calling it a workshop is quite a stretch. It is a blatant sales pitch much worse than any time share presentation.
The course includes primarily basic t/a which can be found in any inexpensive book or even free on the internet. They claim to offer a one time $2, 000 schlorship discount for that day only. This is a lie.
They also promise lifetime retakes. But their class room only seats about 20 people and they are constantly pushing for more clients. Where will they put everyone? FACT: Most clients quit in frustration and even though classes and workshops are listed as "sold out", there are more often less than half full and cancelled.
And they also promise tuition reimbursement. (Don't you love the way they throw around those educational terms to make them sound like a real school?) Here again, read the fine print and really check them out. You know what they say about when things sound too good to be true.
On some websites where complaints have not been deleted, supposed company officials post rebuttals and challenge anyone to contact them at their corporate offices in California. The number is a toll number, not toll free and those who have called find it links to a voice mail and after leaving multiple messages, no one returns the calls. So much for help from corporate.
OTA also seems very upset about the increasing number of complaints appearing about them on the internet and are now charging complaintants as being people who work for the competition, frustrated, lazy students who wouldn't take the time to follow their courses, deadbeat clients who defaulted on their loans (18% interest, t hey may be right on this one!) people whose credit cards were denied and disgruntled former employees.
Before it was called Online Trading Academy, it was called bloc securties, then momentum securities, then Newport Beach securities. In Orlando, the local office ownership has changed hands five times in a few years and has had massive employee turnover.
Many of OTA's offices are located in right to work states which means that employees were probably treated unfairly so there probably are a lot of unhappy ex employees out there for sure.
However, one thing that Online Trading Academy doesn't want to admit is that they have a lot of unhappy clients and whatever is showing on the internet pales compared to what goes on in the local offices where clients are many times screaming at Online Trading Academy staff for their wrong doings and high pressure sales tactics.
Stay away from these guys
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Tomatoes
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Apr 11, 2012
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Misrepresentation
Let's spread the word!
Like us on FACEBOOK! Post your comment/ complaint at:
Online Trading Academy SCAM
(you just need to type "scam" on the search box and the Page comes up)
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Tomatoes
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Apr 11, 2012
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Wonderful School
Let's spread the word!
Like us on FACEBOOK! Post your comment/ complaint at:
Online Trading Academy SCAM
(you just need to type "scam" on the search box and the Page comes up)
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Tomatoes
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Apr 11, 2012
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Hard Time Cancelling Class
Let's spread the word!
Like us on FACEBOOK! Post your comment/ complaint at:
Online Trading Academy SCAM
(you just need to type "scam" on the search box and the Page comes up)
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Tomatoes
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Apr 11, 2012
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Wonderful School
Let's spread the word!
Like us on FACEBOOK! Post your comment/ complaint at:
Online Trading Academy SCAM
(you just need to type "scam" on the search box and the Page comes up)
http://www.facebook.com/#!/pages/Online-Trading-Academy-SCAM/103159303152106
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jlap78
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Feb 1, 2013
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Disagree
WoW! I just came out Very Happy of my 6th OTA Pro-Investing Class and was shock to find this page and wish to set the record straight. Im a CPA, MBA, CFE and understand statistics and academically grasp the taught concepts. As every formal school or college I notice they have Great Instructors, Average Instructors & Bad Instructions. There a couple of them that are so good that they trade live money accounts with you while in class. So do the retake until you are satisfy. Some do go over historical which its easy to do once you know the outcome but as said there are two of them I witness that you see the incredible live experience of trading live $50k or more of their money(the instructor's money). XLT which is expensive as you mentioned is no different, so i guess it all comes to learning who to follow and who to listen too. What I do agree they need to change is the target student meaning yes they really need to add a compression or academic requirement to students since there some that do leave as clue less as they started, which I thinks is where a lot of these complains comes from. But I did witness as well some on the second day complaining and they got their money back no questions ask. Another big plus I gain at OTA is the network of colleagues which as said once I learned who to follow, all change for me. Trading is risky and the job is to manage Risk nothing else. Also I do believe that many students set to failure since start with a small portfolio of less than $20k to invest, even if you make an annual 50% unusual return and do this 4 hours a day $10k won't take you out of work. So if you don't have at least a $100k portfolio you are kidding yourself and they do tell you that.
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Vinny A. Apollo
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Nov 26, 2016
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onions
I recently took a workshop,I really think that the instructor as well as the administration push to hard for you to take Xlt,mastery, and other classes. It's not necessary to meet 3 times in a three day weekend to discuss financing a loan for tuition costs,its a turn off.On the positive Steve, Kim,and Rick Meadows and most of the people that work there are very knowledgeable and friendly and I believe there systems actually work and they can produce positive cash flow.
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Jango21
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Sep 23, 2017
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Too Expensive
I agree with the reviews that mentioned the push to enroll in their classes. And this starts right in the middle of the free sessions. Something else that pushed me away was the admin entering the class with the enrollment documents to showcase the students who enrolled in front of others. In general, their free session is good but i did not like their sales strategy of pushing you to enroll for the course on the spot.
Secondly the course is way to expensive even though you make money out of the course in a later stage. They teach you trading a the end of the day for 7 days only few hours a day. Universities are cheaper than this for god's sake.
One of the reasons I did not take the course is that the instructor doesnot answer your questions in the 300$ class and comes up with the excuse that the answer is too advanced. I felt this was another push to take the course.
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nreddy765
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Feb 1, 2019
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only for Pros and a few
I attended the intro classes paid $200 for more classes . Very tedious , they expect you to learn in 7 days. It gave a good picture how financial world works .This was worth while , I would not have enrolled into this 20K still paying installments , but for my teen son who took great interest in it and wanted to sign up . I thought this would be the right distraction. It is not for the regulars . It may be for a few who know the subject , sauvy at computers . It is a big money making gimmick . I would not trade real money since I lost on the paper trades, I have heard 2 of my friends lost big time and another could not make its use in 10 yrs. It is a used car sales people who get you into it and there is no recourse for the money.
I was looking to see if there was a class action suit against them so I could add my name . Instead I only found mere complaints
Any one interested in a class action suit . The lawyer can be paid if he wins the case
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