Quote from Scamsighting:
Online Trading Academy is a Sales and Marketing company, that tries to "close" you during their "Power Trading Workshops". Each salesperson, or as they would like you to think of them, an "Education Counselor", will meet with their prospects, one on one. If you meet with the Education Counselor during lunch, then you are their "best prospect", or so they think. So don't sit down during lunch with an Education Counselor.
Then after lunch, they will start "pulling" prospects to sit one on one with their Education Counselor. It is here where they are closing, and if you do not value your time or money, it may be worth taking the class. They tell you that once you enroll, you can re-take the class as many times as you want. This is completely false, as you are put on a waiting list, and each location chooses who will retake the class bases on the "students" potential up-sell.
The first class is $5,990, but then they try to upsell you with their "mentoring" class that is a webinar, three to four times a week, for life. What they don't tell you is that the "XLT" repeats itself every 12 weeks. And if you do ask them if it repeats itself every 12 weeks, they spin it by saying "yes, that's true, but it is always different because the market is always different".
After they try to sell you into an XLT, they will try to enroll you in another class, such as options, futures, forex, etc. Which is then followed by another XLT.
All in all, their goal is to have you enroll the day you first attend the Power Trader Workshop, with the goal of having you spend $25,000 over the next two years. If you are one inclined to believe all this, at the very least, be smart and say "I never make a decision to purchase anything that cost over $500 the same day" Best bet is to say my wife (or husband) have agreed that for every $1,000 we spend, we wait one day before the purchase. So if the class cost $6,000, tell them you will call them back in six days.
If in six days you want to purchase the class, then you should. But never buy on emotions, they even teach that in their classes, no? Don't buy stock on emotions!!!
Then why would you but their class on emotions?
So when your in with the salesperson, Education Counselor, ask them "does a successful trader trade on emotions?" They will say "NO". Ask why not? Let them explain. Then say why are you asking me to purchase today, when you know its an emotional purchase?
Their traders are nice people, very entertaining in the class, basic information taught in the class (considering they are teaching at a sixth grade level), and during the seven day class, the instructors are speaking with each and every Education Counselor about each student, so the Education Counselor can then use that information to "up-sell" you, or as they would say, further your education.
Fact is, a large majority of the "Traders" teaching the class are former Students of Online Trading Academy! Again, very nice people, who would like to make you feel good and important. But no where along the process will they ever say they will make you money, or even that majority of their students make money. They can't!!! The SEC would shut down this marketing company in a second.
They have extremely sharp people in corporate running their marketing programs, and results are fantastic!!! They average ten people in a Power Trader Workshop, in 30 national locations, so that's 150 people a day! Do the math, its a marketing machine, and they should get an award for their education. The award should be for "The Best Marketing and Sales" for an Educational Company.
Best bet is to join a Webinar based trading class that charges you less then $150 a month. Within two years, you will become a very good trader, total cost of $3,600. And the best Webinar's will have earned their money by having hundreds of people in the webinar, and keeping their subscribers by delivering good information each and every day.
