Today, we are going to talk about Online Trading Academy. Is it legit? Find out more in this review.
There have been a number of different companies that offer their own spin on a stock trading course. For the most part, there is very little that changes on what you might learn about stock trading. It’s just that every single one of these companies or creators have different approaches and methods in how they teach you.
I have said many times in my reviews that stock trading isn’t really something that I would highly recommend to everyone. Partly because of the higher risks that come with investing your money in stocks. It’s possible to earn back what you invest. That’s how trading and investing works. But not everybody has the money to make stock trading work for them. You could definitely put a little bit of money in a company you might be interested in. But you can’t really expect that you would earn a lot of money on it.
Still, there’s so many online courses about stock trading and investing that you could find all over the internet. There is an audience for this sort of thing. I feel that a lot of people become interested in trading because they see a lot of people online talking about their success in that industry. If it worked for those people, surely it’ll work for ordinary people who want a passive way of earning money.
But what makes Online Trading Academy different to its competitors? What kind of information or methods does this particular have that the others don’t? Like I said, you’re basically learning a lot of terms that is pretty much universal in the world of stock trading. So what exactly makes Online Trading Academy a good option?
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Online Trading Academy Review: Quick Details
- Name: Online Trading Academy
- Founder: Eyal Shahar
- Website: https://www.tradingacademy.com/
- Socials: Facebook, YouTube
- Type: Training program
- Niche: Stock trading
- Recommendation: While there is potential to earn money from investing or trading in the long run, I don’t highly recommend that you get into trading. Especially if you don’t really have any money. You can’t expect that you’ll get back the money you invested or traded. But that’s just the risk that’s innate in the world of trading.
Who Is Eyal Shahar?
Eyal Shahar is the founder of Online Trading Academy, an online learning platform primarily focused on trading and investments. But how he got to that point is sort of interesting.
It was in 1983. Eyal was vacationing in the Philippines. He was travelling across the world at that point. But he was specifically in the Philippines around the time of the Israeli bank crisis. The “tl;dr” of that is that four of the major banks in Israel were fudging their stock prices at the time when most stock prices in the stock exchange in Israel were down. But at some point, those banks were unable to buy back share because they didn’t have any capital left to do so. It pretty much lead to the collapse of the market during that time which lead to the stock market in Israel to close for about two weeks.
At that point, Eyal hadn’t really heard about the news until he reached Hong Kong, which is a major business hub in Asia. And he only really heard about it when he tried to wire money from home. Of course, Eyal wasn’t able to get money wired to him. He still had some money in his pocket but he had to be smart with how he spent it. Luckily for him, he had tickets to Tokyo and Los Angeles.
Soon after, Eyal headed to Los Angeles in the hopes that he could find ways to make money there so that he could go back home. Somehow, his stay in the United States lead him to do a lot of different things. Apparently, at some point, he was a diamond importer? But pretty much everything lead to him start Online Trading Academy. It started out as a trading floor. Then it slowly became an online learning platform by the time that the internet was becoming more commonplace.
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What Is Online Trading Academy?
As I have mentioned earlier, Online Trading Academy is an online trading platform where you can learn how to do stock trading, forex trading and the like. The beginnings of the platform started pretty much around the time when it was primarily a trading floor. Apparently, after the market has closed for the day, Eyal along with the traders still at the floor would often have sessions where they talked about what wrong with some of the traders that certain traders have made. Those sessions where they pretty much learned by doing snowballed into what Online Trading Academy is now.
Even though it’s called Online Trading Academy, they have a number of locations where you can learn face to face with some of the instructors. They have about 14 locations in the United States and four locations overseas. But for some that are unable to go to any of their physical locations, they have online sessions available throughout the day. Like a lot of other platforms that offer similar courses, they have a free hour-long introductory course. It’s pretty much a teaser of sorts for what you might actually learn from the platform. They also have a free course on Crypto Foundations.
There are different courses that you could enroll in Online Trading Academy. One of the main course is the Core Strategy course. This particular course teaches you the ins and outs of the financial markets. It’s more of a generalist course compared to the rest of the courses that Online Trading Academy offers.
The Core Strategy course is a 7-day course that you could in location or online. You’re spending the same amount of hours for either one. But you’re doing twice the number of sessions online compared to in-person sessions. Aside from the primary 7-day course, they also offer an XLT or Extended Learning Track course which adds 12 weeks to the initial 7-day course. The cost of the Core Strategy course on its own is $7,995. If you want to go the XLT route, it’s an add-on worth $11,495. There’s a $495 difference if you buy the course and XLT together. (It’s $18,995 for the bundled price.)
What Are The Other Courses That Online Trading Academy Offers?
Aside from the Core Strategy course, Online Trading Academy also offers the Strategic Investor course. This course is primarily focused on long-term investments like 401(k)’s and IRAs. This course is cut down into two parts. The first part costs $1,995 while the second part is bundled with the XLT course for $14,995. There are also courses for Digital Assets ($995) Stock Trading ($5,995 or $16,995 with XLT), Options Trading ($7,995 or $18,995 with XLT), Futures Trading ($5,995 or $16,995 with XLT) and Forex Trading ($5,995 or $16,995 with XLT). It seems that the tuition includes the money that you’re going to use to invest or trade.
You could definitely choose to stick with the primary courses if you just want to learn about the basics. But it’s harder to do so with the Strategic Investor course since there are no other way of taking the second part without paying for the XLT bundle.
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Final Verdict – Online Trading Academy Review
It seems that in early 2020, Online Trading Academy was sued by the U.S. Federal Trade Commission for falsely advertising the earning potential you might get from trading in order to sell their courses. You’re going to spend upwards of $19,000 for a 13-week course. Surely, you’re going to earn back that money from using whatever strategy they teach you in their courses, right?
But like any other online course, especially within this space, the income potential is often greatly exaggerated to attract people to pay for their course. It’s still possible to learn the basics of how to trade. But I don’t think that you’re going to be earning the big bucks with in. You might get back what you invested or traded. Though, it’s rare.
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That’s it for my review of Online Trading Academy. I hope you enjoyed reading it.
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