Katie Fetzer

Review of Online Trading Academy

Update 9/2/20. After my original review was posted...

Update 9/2/20. After my original review was posted, I received a call from Chris Crum, the owner of OTA KC. His voicemail said wanted to discuss my "request for a refund". I responded in writing, stating we needed written communication for both of our interest. No response after 3 weeks. Also, they disabled reviews on their Facebook page so that my review could not be seen there.

As a "Mastermind Student" (top package), I am 100% DISSATISFIED with OTA OF KC, and my "investment" into OTA has been a complete waste of time and money.
1. OTA OF KC Misrepresented the Time Investment Required
2. OTA OF KC Misrepresented Projected Income
3. OTA CORPORATE'S Training "Product" Contains Significant Amount of Conflicts in Training Instruction

1. OTA OF KC frequently cited the following before purchase: "You can set your trades and forget it. You only need a couple of hours each day. Trade anytime day or night. Most students are profitable within six months." The realities are that time investment required is substantial, and OTA trainers refuted these claims in more advanced classes from other areas that stated:
"Setting your trades and not monitoring them is a high risk for loss and not advised. Setting your trades at night and letting them run is foolish. It takes years, many hours of training, and tons of hard work to become a profitable trader. Technically you can place a trade any time of day, but doing so outside of the peak hours of 7 AM to 11 AM M-F is foolish." The few successful traders I have spoken to all have stated that it took 3-5 years to become profitable, after spending 20+ hours each week. None of my OTA fellow students I have kept in touch with have become profitable after 20 months and substantial time investment. OTA OF KC had foreknowledge about my schedule limitations, yet never provided caution of time needed. Repeatedly, they assured me of flexibility and minimal time investment.

2. OTA OF KC projected income thru a customized "trade plan". Goals, objectives, and projections were all provided by OTA OF KC, based on their calculations. As described above, Schedule limitations were NOT taken into account when accessing "trading risks" within their plan. OTA OF KC failed to disclose "No Entry Trades" during income projections, success rates, or training. OTA's own student accessible "MYOTA" website shows their "Pro Picks" professional trade recommendations from December 27, 2018, till May 27, 2020, are as follows::
558 recommended trades
35 Closed for Break Even
50 Closed for Loss
59 Closed for Profit
414 never made an entry (74%)
No entry trades use margin and limit the number of trades you can place per day, thereby affecting your profitability. Despite "no entry trades," accounting for over 74%, OTA OF KC failed to disclose "no entries" during training, trade plan creation or projected income. This information is not common knowledge by a novice trader. When I asked for help, OTA OF KC and OTA corporate said to "watch more videos".

3. Training materials are not taught consistently between instructors, which causes SIGNIFICANT confusion to students. It is unnecessarily frustrating and leads to students' poor trading results. This problem is common knowledge among OTA staff and trainers. Drastic and vast differences in training methods require an immeasurable amount of time for a new student to determine correctly. Making OTA's "training product" a disputable "benefit" over other far less expensive trading classes.

All items stated in this review are verifiable. A simple google search into FTC suit against OTA validates these statements and confirms OTA's long-standing practice of buying off bad reviews.

When I requested a refund, they denied it. OTA OF KC cited a three-day clause for "returns". No product this complex or this expensive is possible within that short time-frame. OTA OF KC never saught to resolve my complaints, provide solutions, or even apologize despite spending $48k with their organization. A huge regret that I hope others avoid.