Online Trading Academy Review (2026): What the FTC Found About Its Courses

Online Trading Academy in One Minute

Online Trading Academy (OTA) sold trading courses through free workshops and local centers, with programs costing as much as $50,000, according to the FTC. In February 2020 the FTC sued OTA and its leaders, and in September 2020 the FTC announced a settlement with a $362 million judgment, mostly suspended, plus debt forgiveness for customers who financed their courses.

What the FTC Alleged

• OTA claimed anyone could learn its strategy and earn big profits, without evidence.
• Its own surveys showed most buyers made little or no money.
• Instructors and salespeople were presented as successful traders; several admitted they weren't.
• Contracts tried to stop refund-seekers from telling the government or posting reviews.

Who Was Named in the Case

The FTC named Online Trading Academy, its leader Eyal Shachar, and two others, Darren Kimoto and Samuel R. Seiden. The order was filed in federal court in the Central District of California after a 4-0 Commission vote.

The Settlement Terms

Shachar agreed to pay $8.3 million and surrender vehicles and an airplane; two others paid $736,300 and $158,000. OTA had to offer debt forgiveness to customers who still owed for training. The order bans unsupported earnings claims, calling salespeople "education counselors," and gag clauses.

Judgment362$M

Shachar payment8.30$M

Refunds Paid

The FTC later sent more than $5.4 million to 31,144 consumers, an average of about $175 each. Compared with course prices of up to $50,000, that shows how little of a large loss is usually recovered.

The Free-Workshop Funnel

Many trading education companies start with a free class that leads to a high-priced program, sometimes with on-the-spot financing. If a free event ends with an offer costing thousands, take the paperwork home and decide later.

Warning Signs at a Trading Seminar

• Pressure to buy before you leave.
• Financing offered on the spot.
• Instructors described as successful traders without proof.
• Contracts limiting reviews or complaints.

Is OTA Still Operating?

OTA continued after the settlement under the FTC's order. Whatever its current offers, the order requires truthful, documented earnings claims. Ask for that documentation if you're pitched.

Before You Pay for Trading Education

1. Refuse to decide at a free event.
2. Ask for documented student results.
3. Never finance a course with a loan.
4. Practice with free simulators first.
5. Read refund terms and gag clauses carefully.

A Steadier Way to Protect Savings

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Is Online Trading Academy Legit?

It's a real company, but it settled FTC charges over deceptive earnings claims and gag clauses, with a $362 million judgment. Treat its claims with caution.

Pros and Cons

Frequently Asked Questions

Our Verdict on Online Trading Academy

A cautionary tale. Never finance expensive trading education on a promise of profits.

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