Day trading is a significant choice that may rapidly become overwhelming. Online Trading Academy specializes in teaching and training people about stocks, forex, futures, and options, as well as investing techniques tailored to the student’s trading style. In addition to its Extended Learning Track, or XLT, offerings, the website provides a selection of free and paid courses.
The United States Federal Trade Commission (FTC) stated in February 2020 that it has filed a lawsuit against Online Trading Academy (OTA), saying that “OTA exploits fraudulent or baseless profit claims to promote ‘training packages’ costing up to $50,000.” In April 2020, the FTC stated that “a federal judge has granted the Federal Trade Commission’s request for a preliminary injunction to suspend Online Trading Academy’s alleged unlawful operations.” OTA agreed into a settlement deal with the FTC in September 2020, forcing the financial education website to grant debt forgiveness to thousands of clients and pay more than $10 million in damages to the aggrieved parties.
- Online Trading Academy is a company that focuses in teaching and training people about stocks, currencies, futures, and options.
- Students may attend in person at any of the 40 Financial Education Centers around the globe, or they can take online courses from home.
- Prospective students may try out the curriculum for free before committing to the fee-based instruction at Online Trading Academy.
- Completing Online Trading Academy courses does not guarantee a return large enough to cover the original investment.
- Prospective students should also investigate educational options supplied by prominent brokerage firms in order to make the best educated selection.
Online Trading Academy began in 1997 as one of the biggest trading floors in the United States, offering daily coaching sessions to managers and high-performing traders on trading with more consistency and profitability. The group shifted its emphasis to an education approach in 2001, amassing a network of over 200,000 investors.
The benefits of using Online Trading Academy as an educational resource are many. For than two decades, the organization has provided a growing community of traders and investors with the knowledge and abilities needed to make sound investing choices. There is no lack of class options, ranging from live online classes to studying the famous TradeStation software. Online Trading Academy also enables interested persons to try out the program for free before committing to its fee-based courses. Furthermore, the company has a long roster of over 100 committed educators with real-world trading expertise.
As powerful as the program is, it is not without possible drawbacks. Courses cost hundreds, if not tens of thousands of dollars, which may be the most significant barrier for prospective students with limited financial resources. Others may be hesitant to spend so much money on an education that cannot promise a substantial enough return to cover the original investment. The Online Trading Academy’s notice also indicates that students should consider trading accounts speculative, which means that no financial loss may be assured.
How it Compares to Competitors
For exclusive students, Online Trading Academy features an ongoing support system that allows for stronger feedback and contact between instructors and students. Many of Online Trading Academy’s rivals, such as Trading Advantage and Open Trader, seem to provide services that are quite comparable, yet none advertise their fees. To obtain extra information, visitors must provide their contact information. These offers will most likely be priced similarly to Online Trading Academy’s offering. A request for personal information to assess the cost of courses may seem suspicious to a potential student. However, this does not always imply that the program is not on the mend.
When it comes to investing and trading education, there are several options available. One alternative is to look into the services offered by big brokerage firms such as Fidelity, Charles Schwab (SCHW), TD Ameritrade (AMTD), and E-Trade (ETFC).These firms not only provide a large number of online courses for their customers, but they also hold on-site seminars in their branches on a regular basis, as well as webinars for both novice and seasoned traders. Local investing clubs are an inexpensive and simple approach to create a trading knowledge base by conversing with others who are currently doing what you want to learn. There are several websites that provide free lessons as well as more in-depth videos for a modest fee. Fortunately, there is no lack of instructive trading and investment tools available.
The Bottom Line
Online Trading Academy is a renowned company that has been teaching people about investing and trading for more than two decades. Its on-site and online programs are extensive, and the organization allows students the freedom to optimize learning opportunities in whichever setting works best for them. Prospective students should, however, evaluate the expensive price tag of Online Trading Academy as well as the other alternatives before enrolling. Fortunately, there are various less expensive options for traders to explore. Investopedia Academy’s “Become a Day Trader” course, taught by David Green, a 30-year Wall Street trading veteran, is one such opportunity.
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