[U]Here is my review on the Online Trading Academy[/U]
Online Trading Academy are in the simplest terms a sales company who pressure you into making a payment by using their best negotiation skills (which are rather poor), and wont let you go until they give up.
I was invited to what they called a ‘power trading workshop’, this was meant to be a free trail day to show you their teaching style, and to illustrate how good they are. We were invited to a rented out office in Canary Wharf (London), and it was a sales pitch. They kept dropping the price saying that it was a one day special offer, and when we said no, they said if we were smart traders we should buy the course as its a smart investment. They wanted near to £3,500. When we still said no, for various reasons, they kept lowering the price and then opened the option of finance. At this stage they got desperate and separated us from the group into individual rooms, this is when the hard sell started. It was beyond a joke, at one point I expected us to be on TV as a type of rouge traders program.
Online trading academy go on to say they have offices all over the world, in all countries, so why not have the meeting in one of their offices, it makes sense, instead they rent out a top floor swanky London building. As if that wasn’t obvious.
When I asked questions about certain trading criteria, they could not answer, and failed to show a basic understanding of trading terminology. The person I was talking to failed to see the difference between a Pip and a Point, unbelievable.
A term that was used more than once was that we had to be educated, and if we were already trading, then why cant we take our money out of our trading account to purchase the course. I’ve been trading for three years and had high hopes for the Online Trading Academy. They are a complete waste of time.
The presentation was half decent, followed up with the typical stories of how people are now living their life after completing the course. Such as waking up in the morning and placing one trade, and then spending the rest of the day with their family and kids, as if thats not a cliche.
To add insult to myself, they then went on to discuss that the trading platform I was using was not suitable for my own needs. They really have no idea when it comes to trading, and their job is to try and sell the course so that they get their own commission.
Stay away unless you want to have a fun day out with plenty of amusements.