Online Trading Academy: scam or otherwise.

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Online Trading Academy: scam or otherwise.

Postby kal » Sat Jul 23, 2016 6:03 pm

At least the disclaimer ahead of these infomercials on CKNW, CISL and who knows where else says the program is strictly for entertainment. I believe I've heard them on KGO as well.

Of course it's a scam. A high-powered one. It's especially laughable when the program brings on a guest and calls him the worldwide director of admissions for OTA. As far as I can tell there is no "academy" involved here. As with all these high-energy "space is limited" infomercials, you can be sure that the OTA is interested in one thing only, how much money you have in your bank account. And you can be sure they'll want to get their hands on at least $5 k of it, perhaps more than $30 k, to teach you "what the banks hope you'll never learn."

It's time that the radio station operators pulled the plug on allowing shysters like this to run their sleazy-sounding business.

Here's at least one link pointing to tales from those who've lost their savings to the OTA.

http://www.complaintboard.com/online-trading-academy-l199.html

It would be interesting to hear from someone who has taken a so-called class from OTA in the Vancouver area. Perhaps I'm just too skeptical and cynical.
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Re: Online Trading Academy: scam or otherwise.

Postby jon » Sat Jul 23, 2016 9:30 pm

I had never heard of the company until I read kal's post, but the Better Business Bureau gives the Burnaby location an A+ rating:
http://www.bbb.org/mbc/business-reviews ... bc-1280184
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Re: Online Trading Academy: scam or otherwise.

Postby Howaboutthat » Sun Jul 24, 2016 12:10 pm

Depends on your definition of 'scam'. If they're telling people that you WILL be able to make so much $$$, then it is illegal. If they are offering an 'opportunity' and people are stupid enough to give them money.... in this day and age, with all the information that is out there, then, quite frankly, they deserve what they get (or don't get)
If it's not illegal, I see nothing wrong with stations taking money. It may not seem ethical, but these days with bottom line seeming to be more important than what is presented on air.... :bag:

As for the BBB
http://www.consumerreports.org/cro/maga ... /index.htm
Houston, We're dealing with morons!.
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Re: Online Trading Academy: scam or otherwise.

Postby jon » Sun Jul 24, 2016 12:57 pm

Thanks for that!

I've been reading Consumer Reports pretty consistently since about 1960, but I somehow missed that article.

A great read!
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