Online Trading Academy Review
For over 2 decades, Online Trading Academy (OTA) has played a leading role in providing training for stocks, forex, and options trading. And thanks to its wide franchise network that spans across the globe, they also boast the unique ability to offer on-location and online training. But is there more to OTA than meets the eye? We delve deeper into a company that seems to be loved and loathed in equal measure.
What Is OTA All About
As we have already stated, this is a stock, forex, and options trading training platform. They have offices across the world and if you’re reading this review, chances are that there’s one near you. Basically, this company focuses on wealth and income generation.
Wealth generation is all about long-term growth. This is an approach that’s reserved for investors who wish to study the markets and make the right decisions so they can double or even quadruple their wealth over time.
The income solution offered by OTA, on the other hand, is specifically designed for active traders. Active trading entails taking day-to-day risks and decisions. Therefore, this approach requires a hands-on approach and that’s the role that good training plays.
Besides being a training platform, OTA is home to a large and diverse trading community. They are home to some of the most experienced tutors on the globe. Likewise, they have a long list of current and past students. So, if you’re looking to work with a community of like-minded folks, this is certainly something that would excite you.
Last but not least, The Online Trading Academy seems to be all about learning. Over the years, they have developed a learning curve which enables you to begin with the basics and progress to the most advanced forms of training available.
And with their merit-based system in place, hard working learners can always find themselves in the much-coveted Mastermind Community. There are so many benefits of joining that community, including:
Ongoing training and mentorship
- Pro Picks
- Daily watchlists
- Access to a market screener
- Priority access to their skilled instructors
Of course, the Mastermind Community doesn’t come cheap but you can always gain a lot from it if you’re the curious type (more on that later).
Who Is OTA Best Suited For?
Yet another awesome benefit of this platform is that it’s open to a diverse range of trading styles. To be specific, it’s ideal for intra-day scalping. Therefore, if you’re one of the traders who wake up early in the morning when the bells ring to start scouting for trades hoping to hit the Take Profit (TP) level before the day ends, OTA would without doubt work for you.
Another group of traders who can benefit from this system is one made up of folks who prefer to hold onto trades for several days. This style of trading is simply known as multi-day swing trading. It involves entering the markets with the goal of identifying potential breakout points long before they happen.
The last group of traders who would benefit immensely from this platform comprises folks who prefer to make long-term investments. This strategy would work best for you especially if you take up the wealth solution of this training package.
The Trading Style
We’d say that the Online Trading Academy seems to focus more on technical analysis as opposed to fundamental analysis. In particular, the trainers here seem interested in teaching you a thing or two about classic patterns. What’s more? The company has its own patented indicators that you can use to make spot-on trading decisions.
How It Works
Well, OTA has a pretty unique learning plan in place. The first step involves attending a half-day long class. It’s a free class. Yup, you read that right, you wouldn’t need to cough a single cent for this.
But as you would expect, there’s isn’t much taught in this first-day sit-in class. In fact, some have faulted it for being more of a marketing gimmick than a trading class. At the same time, there are those who have appreciated this free session due to the level of inspiration it creates.
Once the free lesson is over, you’ll be required to fill a questionnaire form. This comprises some pretty basic questions which are meant to asses stuff like your income potential, how much you can afford to pay and what your long-term goals are. The kind of responses you give on this questionnaire eventually determine whether you’ll get a discount on the Mastermind Community package or not.
The Marketing Timing Lessons (Core Strategy)
This is a 3-day long class and it normally goes for $300 plus tax. The Core Strategy session seems to primarily focus on support and resistance analysis. This may sound pretty basic especially for seasoned traders but the truth is that it’s meant to provide you with the foundational skills for surviving the advanced training phase.
Once you’re done with the Core Strategy, you’ll be confident enough to select a specialty course that works best for you. First, you’ll need to clarify whether you want to opt for the wealth solution or income solution. Each one of these two alternatives has their share of courses to choose from. The cheapest course goes for $5,000. The Pro Trader + XLT course, in particular, is a 7-day course that goes for $8,000.
The Mastermind Community
Once you finish your specialty course of choice, you’ll be chosen (based on performance) to join the Mastermind Community. Those who fail the courses are usually required to retake them at no additional cost. As we have already mentioned, The Mastermind Community is preserved for the finest traders who make it through the system. On the flipside, though, you’d need to cough out $25,000 for this (or $15,000 plus $5,000 for the successive years).
- Online and on-location training
- Helpful trainers
- A well-planned learning curve
- They offer discounts depending on your ability to pay
- They have a financing plan that enables you to pay in bits
- They’re a legitimate company
- Support different styles of trading
- Its courses are quite pricey
- Their regular follow-ups and suggestions may sound like pushy marketing
The Online Trading Academy program sounds like a pretty decent package but its expensive fees make it less desirable to upcoming traders on a budget.
If you’re looking for a reasonably priced OTA alternative, we’d recommend either the Warrior Trading, Investors Underground or Day Trading Academy. Warrior Trading is particularly known for its warm community, helpful online lessons, and dynamic trading strategy.
Investors Underground, on the other hand, is reputed for providing a consistent learning curve. And lastly, Day Trading Academy has earned a good reputation owing to the fact that it focuses on teaching a bare knuckles trading strategy.
Of course, all of these 3 alternative programs only cost a fraction of what you’d need to pay for OTA; yet, they’re pretty stable and, therefore, reliable to use.
Blake is a self-made online day trader with a knack for adventure. On his free time, he loves reading and learning new thing as well as improving his jiu-jitsu skills. He currently resides in New York City. Learn More >>