In early 2019, Online Trading Academy was made aware of a broad investigative demand by the US Federal Trade Commission (FTC) to examine marketing and sales practices. OTA cooperated fully with the FTC for nearly one year. In February, Online Trading Academy filed a lawsuit to protect our students ability to continue to receive the education they deserve. We believed in our hearts that the best course of action would be to settle this dispute so we can focus on our students. We are pleased to announce that we have reached a settlement agreement with the FTC. We look forward to putting this chapter behind us and building a brighter for the OTA family.
What impact does this have on the education for our current students?
None. Our student support, instructors and center staff remain dedicated to providing exceptional financial education for all of our students. While we are confronting the COVID-19 pandemic, we are continuing to deliver classes on online and increasingly opening centers as local, state and federal guidelines permit.
What changes is Online Trading Academy making based on this experience?
We respect the mission of the FTC and the job that their professionals do. However, we disagree with some of their allegations. And still, we see any process like this as an opportunity to learn, grow and improve.
Although this matter is now behind us, we are dedicated to making a great company even better as we continue our mission to deliver world-class trading education for the average investor.
The settlement calls for certain changes to be made to our marketing practices, which of course we will comply with. But our standards are much higher. We seek to be the preeminent financial education company and aim for each of our students and prospective students to see in action our core values of innovation, passion, trust, respect, collaboration and love in each encounter with us.
What does this mean for the future of Online Trading Academy?
The future of OTA is bright. We are 100% focused on our students and helping them develop their knowledge and skills to invest and trading with confidence. We will continue to invest important educational innovations like on-demand learning and our game changing education, analysis and trading platform CliK.
Who would I contact if I have questions about the settlement?
Please contact your local center for more details.
Has OTA’s Mission and Purpose Changed?
We’ve always believed exceptional financial education should not be reserved only for the Wall Street elite. It should also be available to main street investors and the general public. Our mission remains the same, to enrich lives worldwide through exceptional financial education. This has been our guiding mission from the beginning and will not change.