Is the Online Trading Academy a scam?
Table of Contents
Is the Online Trading Academy a scam?
An FTC action alleges a company called Online Trading Academy has taken in more than $370 million by gearing its deceptive representations to that demographic. In addition, the complaint alleges violations of the Consumer Review Fairness Act.
Can I sue Im Academy?
“It is illegal to make earnings claims in marketing investment opportunities or training, unless the seller has a reasonable basis to make such claims,” said Andrew Smith, the Director of the FTC’s Bureau of Consumer Protection.
How much does it cost to join Online Trading Academy?
Core Strategy: The Online Trading Academy Core Strategy is a two-part course with a foundational trading course with on-demand trading education lessons and pre-essentials with a duration of 42 hours. It costs $7,700 to join the pre-requisite course, and the eXtended Learning Track (XLT) costs another $13,750.
Are FTC checks real?
The company and phone number for each case are listed on the chart. Keep in mind that the FTC never requires you to pay upfront fees or asks you for sensitive information, like your Social Security number or bank account information. If someone claims to be from the FTC and asks for money, it’s a scam.
Is the Online Trading Academy a fraud?
Yes, its a FRAUD. The United States Federal Trade Commission has finally exploded the Online Trading Academy. On February 12, 2020, the FTC filed a massive 8000+ page lawsuit alleging that the Online Trading Academy ripped off thousands of consumers for a total of $370 million dollars, since at least 2014.
How much does Online Trading Academy core strategy cost?
Core Strategy: The Online Trading Academy Core Strategy is a two-part course with a foundational trading course with on-demand trading education lessons and pre-essentials with a duration of 42 hours. It costs $7,700 to join the pre-requisite course, and the eXtended Learning Track (XLT) costs another $13,750.
When does the FTC settlement with Online Trading Academy happen?
The most recent update was September 15, 2020, with the title “FTC Settlement Requires Online Trading Academy to Forgive Consumer Debt, and Principals to Turn Over Millions in Cash and Assets.”
Who is Sam Seiden of Online Trading Academy?
Sam Seiden of Online Trading Academy. A losing trader. And a professional conman. They next devised a scheme where they would lure unsuspecting consumers into a professional-looking office replete with dozens of computer screens.