Today I’m reviewing a popular, heavily commercialized educational course provider that offers teachings in stocks, futures, options and Forex, Online Trading Academy. With thousands of reviews, a plethora of clients, and a boatload of publicity, it’s hard to ignore the sizable footprint this company is living on the trading marketplace. Although, just because they are one of the largest educational providers available, doesn’t mean that they are the best. Today I will dive deep into the thousands of client reviews to let you know where the truth lies, and which reviews you should be trusting as we close in on 2019.
Founded in 1997, OTA’s corporate headquarters are located at 17780 Fitch, Suite 200, Irvine, CA 92614 USA. To get in touch with support, traders can fill out a contact form or phone (949) 608-6028, and Toll Free (U.S.) 888-960-8723.
Online Trading Academy Reviews
Considering that this is a Forex website, my main focus will be on the Online Trading Academy’s selection of Forex trading courses. They believe that this market is one of the most exciting, which is why they are happy to provide courses in a market that is growing consistently since “the growth of the Internet has allowed the average individual to become involved.”
They currently provide 2 different Forex trading courses, the “Professional Forex Trader,” and “XLT – Forex Trading.” Despite these courses being different, they are both structured in a way that they have 3 major goals:
- Helping traders analyze the market and specify which trading pair sits there personal strategy best.
- Teaching traders to follow and capitalize on specific market moves.
- Knowing the difference between Forex and equities trading to ensure the best probable outcome.
The main Forex trading course sales page also includes a 4 minute video from one of their graduates, who happens to be Steve Atwater, a two-time Super Bowl champion. This type of celebrity endorsement, is very rare in the Forex market, and not something we’ve seen in our recent reviews of other trading courses like Forex Robot Academy, Trade Empowered and Earn2Trade.
- Type: Trading Courses
- Price: $5000 – $20000+
- Established: 1997
- Location: USA
If you think I’ve made a typo when writing out the prices of the Online Trading Academy courses, you are wrong. The courses are really this expensive. I assume that in having thousands of reviews, hundreds of different instructors, and the large commercial impact on the market, that they believe they can charge exorbitant prices for their knowledge.
Personally, I believe that these prices are too high, but if the services can truly teach traders how to become profitable, then it’s certainly worth it. Before dumping thousands of dollars into these programs though, I recommend working with the free Forex education found in forums and other popular Forex websites first. One of the biggest problems with spending thousands of dollars on a program, is that it essentially puts you in a hole before you even started trading. A hole that can be very difficult to climb out of, especially with the added pressure of knowing that it is there.
One of the most important aspects of any service provider, whether it’s the best Forex robot, an indicator, or an educational program is their proof. In this case, the Online Trading Academy doesn’t provide us with any proven trading statements or track records of trading success. They provide us with thousands of client reviews, but there are no Myfxbook accounts, or statement sharing services where we can verify that there trading methodologies translate directly into growing client accounts.
I scoured different statement sharing services to see if I could find a trading account from an OTA graduate, but I was unsuccessful. I’ve been unable to find any verifiable proof that the trading strategies provided by this educational service has translated into verified trading results.
Hopefully in writing this review, some of the graduates will come out of the woodwork and leave comments with some of their personal trading results. This would be very helpful.
Real Client Reviews
While the Online Trading Academy has thousands of reviews on their own website, I find that the best way to get an unbiased opinion, is to analyze the reviews being placed on a third-party website. In this case, I decided to analyze the reviews on FPA. These reviews tell a very different story than most of the other reviews online, with 94 clients writing this a 2.4 out of 5 stars.
It certainly quite concerning that many of the reviews are 1 star, with 6 of the last 9 reviews being extremely negative.
The majority of negative reviews claim that the service isn’t in depth enough, and only goes into very thin concepts of poorly structured technical analysis.
Here are some examples:
There are both positive and negative reviews abound for the Online Trading Academy educational service. Their Forex training programs are seen by some as the best way to learn, while others claim that they utilize high pressure sales tactics and provide a core strategy that’s based around support and resistance basics. I’m not exactly sure where I land, but considering the price, I’m probably shying away at this point in time. Maybe your comments will help change my mind.
With that being said, please let me know if you are a client of OTA’s, and please provide us with your feedback or trading results.