Online Trading Academy Enters Settlement Agreement with Federal Trade Commission
OTA doubles-down on mission to provide exceptional financial education to empower students worldwide
Read the full release here.
Irvine, CA - Sept. 15, 2020 - Today, Online Trading Academy (OTA) opens the next chapter of its relentless commitment to serving its community of students by announcing a settlement agreement with the Federal Trade Commission (FTC) for what primarily amounted to a dispute over marketing. OTA respects the mission of the FTC but disagrees with many of its allegations. Nevertheless, OTA believes a settlement on terms it negotiated represented the most prudent decision, putting this dispute in the past and allowing it to get back to focusing its energies on serving its students who so highly value its education and community.
“For over 23 years our focus has always been simple and unwavering: Provide exceptional financial education to empower students,” said Eyal Shahar, Founder and CEO, Online Trading Academy. “While this has been an unfortunate dispute, I continue to be moved beyond words by the actions of more than 10,000 students who supported us against the FTC’s allegations. We are profoundly humbled and passionately determined to get back to the work of serving our students with our excellent financial education and community in which we continue to invest.”
A Brighter and Even More Promising Future for OTA Students
Online Trading Academy, franchise owners, team members and instructors are excited about what is in store for students over the coming months.
“Now, more than ever, students seek access to financial education that is personalized, on-demand, robust and accessible via a range of online tools and technology platforms,” said Mike Richardson, President, Online Trading Academy. “OTA has always been on the leading edge of innovation in financial education; it will continue to double down on these investments and scale across its network.”
For instance, OTA has continued to develop its unique trading platform called CliK, which is purpose-built, skills-building and robust trading strategies – all grounded within a rules-based risk management framework. CliK is a first-of-its-kind trading platform and will grow and evolve based on students’ educational needs and progress. CliK, along with an award-winning portfolio of digital tools and sophisticated educational resources, are among the many investments OTA is making to further enrich educational offerings for students.
Online Trading Academy continues to develop its suite of self-paced, on-demand courses, which offer blended learning options and related services, progressively integrated into CliK. This is OTA’s relentless commitment to investing in students on their financial education journey.
“I have been with OTA for more than 15 years and I am very proud of the exceptional organization we have created. Students form the heart of OTA – and the enduring commitment to our cause which I witnessed, day in and day out, throughout this journey, reminds me of how blessed we are as a community,” said Gene Longobardi, Chief Operating Officer. “The support, commitment and love that we received from our students is a great testament to the bright future ahead of us.”