Optionetics Reviews

Ivan   Australia

5:05am on Tuesday, October 27th, 2009 

Hi-

I attended their free seminar they tried to sell me a two day course with lots of DVDs and stuff. I didn't buy anything. I noticed though that they used a site called OptionXpress to place their trades.

So what I did was to cut the middleman and signed up immediately with OptionXpress and started trading!. I saved lots of money and got all the information I needed to start trading from there. Apart from that I'm always analyzing and learning a lot from the Internet. I don't need to spend thousands of dollars in their material. Instead use that money to trade. Like with anything else, you'll learn more by practicing, so if you're thinking about paying optionetics why don't you better use that money to start trading and learn more from actual practice!

Just go to the optionXpress website, read all their info and if your convinced then sign up. It's free! you only pay a small amount for each trade - like you would with any other broker-

Obviously, you need to get educated in the topic if you don't know about options but again, you don't need to spend thousands of dollars. The Internet is the biggest resource of information and you can easily find all you need to know using Google.

Good luck people and trade smart!

James   San Franciso, CA

8:35am on Friday, October 2nd, 2009 

If you really want to know the truth about Optionetics and its founders read the Barron's article: OptionsXpress: Out of the Money? The facts are in! A sworn financial statement.

Kudos to the reporter for basically exposing Fontanills and his associates as charlatans.

Fontanills doesn't make money trading he makes money for selling seminars and taking money from unsuspecting victims.

Shatto   S.F Bay Area

2:50am on Wednesday, September 23rd, 2009 

Total Number of Trades 12
Time Period (days) 210

Num of winning trades 8 Num of Losing trades 3
Percent winners 67% Percent losers 25%

DAYAM!!
The system performed pretty much as advertised.

People who do not follow exactly, the teaching of Optionetics or any other method of doing anything,
will fail.

Optionetics and my HMO have in common that they are amazingly confusing until I figured them out.

Optionetics is no less a 'school' than any other. Who questions a professor telling a student to buy the 'tools' necessary to accomplish the job, be it as an engineer, doctor, mechanic, carpenter, etc.

The best way to do something....anything,
is to find someone who has succeeded and do what he did.

The best way to fail at something....anything,
is to look for all the failures and use them as your guide, which makes you kind of dense because you only had to say 'no' all by yourself.

DLM   Hollywood, FL

10:12pm on Tuesday, September 22nd, 2009 

The program sounds great and the fact that you can re-attend the 2 day seminar as many times as you'd like is what sold me. What they fail to tell you is that the 2 day seminar is all about selling you more "programs" and education. They never tell you that you have to be willing to spend an additional $10000 on training. They NEVER teach you how to pick the right option, they just try to sell you another program which uses the Elliot Wave theory. You can learn all there is to learn about trading options online without this program. If you'd like to buy my program, I'm willing to sell it at a very discounted price...lol.

Julie   Virginia

9:05pm on Sunday, September 20th, 2009 

I attended the 2 hour seminar and purchased the course for $2995.00. When I got home, I read all the terrible reviews, so I canceled with their 3 day "right to cancel form" the very next day. They called me to verify the cancellation, then emailed me a prepaid shipping label for the materials. I shipped the materials, and the tracking number verified they received them, but they refused the shipment and sent it right back to me! They are not returning my calls, and of course a month later, no refund. I called my credit card company, they are handling it. Stay away!

Don Grey   Oregon

6:10pm on Sunday, September 20th, 2009 

If it's sounds to good to true ....... it's a con. The people giving the course looked like they hadn't done that well from having taken the course with frayed shirt cuffs.

Maggie   US

4:53pm on Thursday, September 17th, 2009 

I signed up with Optionetics about 7 years ago. Lot's has changed since then, but I've used their lifetime attendance promise as the markets have changed and I've never had a problem with it. They have lots of people who teach, so it's never the same thing twice. Well, mostly not. Since there are new people every time, they go over the basics every time.
I don't think anyone "really" believes in a get rich quick promise. When I signed up they let you check it out, and if it wasn't for you, they'd give your money back.
Options trading takes time and effort to learn. But it's much better than just mutual funds or depending on someone else to handle my money, IMHO.

John   Chicago IL

6:14pm on Monday, September 14th, 2009 

I have listened to the audio version of the 2 day optionetics course and here is what I think. 1. They do provide good info as far as strategies. 2. I think their claims of their own profits or trading is total BS (listen to the tapes, catch the contradictions) . 3. I don't think they trade themselves, or if they do it's not the primary way they make money, or they tend to lose more often than not. Think about it, a 2 day seminar is 300 people at $4000 each is $1.2M per seminar. Let's say renting the venue cost them $30K for the 2 days, maybe a lot less. They make $1.17M NET for 1 seminar. Say they do 30 per year that's over $30M revenue per year. They may play with this money in the markets and probably end up losing a good bit of it. Strategy is one thing, but the market is another. If they were so good they would not need to waste another day on teaching seminars, but would lay on the beach somewhere. They have to bring in that seminar money to trade with, plain and simple. Also, I think it's misleading that the trades can be done without being at the computer. While theoretically can be done, the markets change way too quickly and opportunities are missed by not being near a computer. Offline trading has definitely limited profit potential. 4. Further they do sell the next courses, such as the advanced seminars, software, etc., which may or may not help you. But that is additional revenue stream for them. I think it's possible to make money doing this, but you need to be at the computer during the trading day, and limit your losses quickly if the trade goes against you. This is what professional traders do. They information they provide, yes, it's quite informative, but again, you need to have some background, as I don't think anybody just off the street can do this. George F. yes, he is a charmer, but the FREE seminars are definitely run by well polished sales guys who most likely get a commission off each signup, maybe as much as 50% of the price. Just be aware you will not get a crystal ball by going to this course. They sell information that is widely available on the internet nowadays. But they are entertaining I must admit. But is this entertainment worth $4K for 2 days? You decide.

Joe Butler   Perth

5:01am on Sunday, September 13th, 2009 

The cost of the seminar is $3995 for which you get a sales pitch like no other sales pitch ... the idea not being to teach you anything but to entice you to spend thousands more for their software ($4995) and more thousands to learn how to use the software.
Be prepared to spend a minimum of $14000. The problem is (and they push this fact) the software is a very necessary part of Optionetics. At no time was anything said or taught about trading options via any other method other than with their software
Sorry to say that Optionetics is nothing but a rip off big time. You learn nothing at the 2 day seminar except how good the software is.
In the words of one of their salesmen .. if they advertised all this for $14000 they wouldn't get anyone through the door.
The long and short is ... you are charged $4000 to hear a sales pitch on how good their software and further courses are. In fact you are paying for the privilege of hearing nothing more than a sales pitch.
I asked the question at the end of day one of the 2 day seminar .. "would they please teach us how to trade options which is what I paid for ...I didn't want a sales pitch on further purchases .. I wanted to learn about Options." At the conclusion of the day i had 3 salesmen descend on me and was given a not so pleasant lecture on the various components of the days proceedings and what didn't I understand. I was made to feel that I just hadn't taken on board what they were teaching.
"Teaching" my fat aunt... just a sales pitch. The interesting point is that out of the 130 people at the seminar over half had been many times before (free to re attend). I asked a number of people how they were going and I didnt get one positive answer... one lady had attended the two day seminar 7 times since 2003 and still hadn't placed a trade. She had purchased the software but didn't know how to use it. I forgot to mention.. even though the 2 days is a sales promotion for the software and learning courses, they dont even teach you how to use the software... just kept showing us trade setups and how good the results are. They dont even show you the basics of how to access and set up the software. You have to attend a further course (more thousands) to learn this.

I feel a fool for not doing my homework and checking out this company before parting with my money. I so wanted to learn to trade Options but take my word for it... this is not the company to teach you unless you have "oodles of boodle" and be sure to find others who have had some success as well.

mg   San Diego

9:35am on Wednesday, September 9th, 2009 

WARNING: looks like they have a new "program" going. Just got email invitation to "free" 2 day seminar, the "FXTE's Forex Trading Essentials Course". Looked interesting until I noticed they have the same physical address in Redwood City, CA, including suite number, as Optionetics. I searched the email for "optionetics" and "options" - no mention of either. Looks like the word is getting out and they are trying a little switcheroo.

mg   San Diego

9:30am on Wednesday, September 9th, 2009 

I returned materials for (promised in writing) refund within 10 days. Lots of phone calls and emails with bs responses. Most shocking response (slightly paraphrased): "The 10-day refund guarantee? Oh that's just something we put in the contract." Finally got my credit card company in the act and got my refund after 6 weeks. STAY AWAY!

PW   Sydney

7:40pm on Monday, August 24th, 2009 

While the content is very good, you have to get to that level first. As a beginner.... this will take time. but once there it would be great.
yes, very expensive. Deceptive about this as well. Tes there are inherent risks with options trading but they do not teach or recommend any of the positions that can have enormous risk.
but the fact that you have to keep paying and paying may turn some off.......

George Rochette   Phoenix,Az

1:51pm on Sunday, August 23rd, 2009 

It's a FRAUD plain and simple.This Company won't be around much longer.

Kerry   Kansas City

8:06pm on Sunday, August 9th, 2009 

I guess it's true that 97% of all people will retire with not enough money to live on because after looking at all the negative responses on this page, you can see that people will talk themselves out of everything that may be able to help them, providing they do a little work. That's the key, most people want a free lunch and don't want to sacrifice hard work and a little time to learn something new unless they lose a job and have to get another one. Then they are forced to learn something. Being your own boss is much more demanding than doing what someone else tells you. Do you really expect Optionetics to bail you out in a moments notice of a lifetime of mediocrity without any wilderness experience at all? I failed at becoming a professional baseball player but, that doesn't mean that baseball is bunk. Get with it people!!

Joe   Australia

3:06am on Saturday, August 8th, 2009 

Optionetics = Bogus!!

Optionetics = Scam !!

Stay Away from Optionetics.

Andy   Colorado

5:20pm on Sunday, July 12th, 2009 

George and his sidekick are thieves and liars. Please do not waste your money because it will suck you dry. I also bought the software program because without it, you are lost but that only helped me systematically lost me more money - $10K; $3600 for the program, $4K for software, and another $2800 trading. I only did 28 trades instead of 36 so I asked for a $2800 refund but again, these people are liars and thieves.

JASON   Hawaii

1:59am on Thursday, June 25th, 2009 

THEY WILL NOT HONOR MONEY BACK GUARANTEE.
THE WORST PART ABOUT IT IS THEY TRY TO KEEP SELLING YOU DIFFERENT PACKAGES, SOFTWARE, AND TRAINING COURSES. IT NEVER ENDS!
THEY ONLY FEED YOU A LITTLE INFORMATION AT A TIME AND THAT LITTLE INFORMATION YOU GET WILL COST YOU AN ARM, LEG AND YOUR FIRST BORN.
THE FIRST COURSE THAT COSTS $2700 IS ONLY A TEASER.
YOU CAN GET ALL THAT INFORMATION ON THE WEB FOR FREE!
WOULDN'T RECOMMEND TO ANYONE.
THEY TRY TO MAKE YOU FEEL LIKE THEY CARE ABOUT YOUR SUCCESS BUT THEY REALLY JUST WANT YOUR MONEY.
THEY TELL YOU TO BUY PROFITSOURCE AND TO USE ELLIOT WAVE TO TRADE OPTIONS.

BOGUS!!!

Devang   Chicago

6:44pm on Monday, June 15th, 2009 

People are all entitled to their opinions but please stop using "facts" or commentary from other websites. My fact is that the reason I actually signed up for their seminar was that they didn't try to sell me a pipe dream. They stated very clearly that there will be tuition for this education but it will be substantially less than what we pay for traditional colleges. If you go in expecting a miracle, you will be disappointed. If you go in seeking an education, you will be educated. It's as simple as that.

Paul Hansen   Massachusetts

1:17pm on Saturday, June 13th, 2009 

I have just finished a year of intensive study with the Optionetics organization at an admittedly high dollar price (I'm thankful to God I had the money), but I feel I have received a top-notch education and am not sorry in the least. I feel as though I've gotten a college degree in options science! Far from feeling "ripped off," I feel that I've always gotten FAR more value than I expected. The teachers I'VE dealt with at Optionetics have always seemed to be people that were genuinely interested in my education and my success.

With Optionetics, you need to be absolutely convinced you're ready, have an undying determination to work hard to gain a genuine personal understanding of the concepts and strategies presented, how to apply them, AND HAVE FUN DOING IT! (Without the fun, maybe you got in for the wrong reasons.) You need to listen carefully to all the warnings you are given about risk and learn all the techniques they teach on how to manage it, and (again) have fun doing it!

I am spending the rest of this year (and into the next if necessary) carefully and systematically reviewing the HUGE amount of very well-presented knowledge I've received from Optionetics (class notes, books, DVDs, CDs, on-line subscriptions, and softwares), confident that I now am in possession of the knowledge I need to make a living with trading. You can too, IF that's where you belong.

SH   Vancouver

8:00pm on Thursday, May 14th, 2009 

I read many of people here failed to receive their refund.

I am in the same situation. It is 80 days overdue now.

You can call them. They promised to call back but never do so. No one is willing to commit to a date. Some customer service even staged a surprise and promise to call back but never do. Sounds like a scam to me. Will submit claims through small claims court.

Did anyone receive a refund?

ChrisJ   Long Beach, CA

8:32pm on Tuesday, May 12th, 2009 

Today I attended the free seminar at the Torrance Marriott. I figured they'd pull a Tom Vu and sell you a seminar, which they did. At the end, you could speak with a couple reps and the presenter (Mike Vogel); no questions during the presentation/sales pitch. They wanted $3495 and that was with $1000 off for 'today'.
I spoke with one of the reps and told him I'd have to check my credit balance to see if I could float it. I also asked what size of an account do you need to trade, he said a friend of his "doesn't have more than $5000". Good thing I did and discovered more upselling of product that I coundn't even think to afford. It'd been nice if they included that at the end, but then they'd never get the first batch of vict..er, I mean customers.
At the least, I met a very jovial out of work electrician named Jerry; I even gave him a ride back to San Pedro b/c he'd have to get from Torrance to San Pedro by bus. So, after the $20 he gave me for gas/parking, I'm $12 ahead. Better than getting an account wiped out.

John   US

4:47pm on Thursday, April 23rd, 2009 

I have sent several emails and called their customer service millions of times asking for my refund. It has been more than 2 months and they keep saying it will be processed. I returned the materials on the day of the seminar, met all the requirements and they do not care about their customer... just their customer's money. I do not know what to do in order to get my money back.

Mike   San Diego

9:24am on Tuesday, April 21st, 2009 

I attended the promo seminar in San Diego. Bad choice of words. It's not a promo or a seminar. It's a loosely put together pitch session reminiscent of those I got dragged to in the '80's hyping the virtues of multi-level marketing schemes.

But one word that was thrown out time after time made this thing the illegitimate, if not illegal, scam that it is. Guarantee. No one can guarantee anything in the financial markets, as they state over and over they can do. Baloney.

Run, do not walk, to the nearest exit.

Joseph   Miami, FL

2:56pm on Thursday, April 9th, 2009 

Optionetics is the WORST EVER. Stay FAR FAR AWAY from these people. All they want is your money. They don't care whether you learn anything or not.

The 2-hour workshop I attended was a 2-hour sales pitch to attend the $4,000 2-day seminar. That was a 2-day sales pitch to give them another few thousand to attend their so-called "specialty" classes. Then there's the extra $$$$s for their "special software" that they "highly recommend."

All in all, it's a scam. They should be shut down. And there are plenty of other web sites out there that can vouch for their dishonesty.

sally   sydney australia

9:35am on Wednesday, April 1st, 2009 

i attend opetionetics seminar 2 times but i am in doubt ...please anyone who got book and cd and did trade let me knowi want to discuss or probably i want buy it at least its cheaper.

John   Melbourne

12:57am on Tuesday, March 17th, 2009 

I attended the free two hour seminar and was swept away with the promise of making money through options but was a bit angry that I was not permitted to ask any questions. Scott Lam was quite arrogant and rude, handing an audience member his ruby encrusted $60,000 watch For someone who can afford such an expensive watch, is it really worth his while running the seminar, or is he just a very good actor/salesperson? I nevertheless purchased the program as it had a cancellation policy and read,watched and listened to the course and read the reviews online and thank my lucky stars I decided to get a refund. The course pushes for the purchase of additional trading tools such as expensive software programs. George Fontanills on DVD was such a turn off, using the "I dont quite understand" approach, playing dumb on more than one occasion.. he averted his eyes as if he was hiding something and sounded really bored and also condescending. I am extremely happy I returned the home study course without any problems, (alongside 15 other people) . Awaiting the refund in 10-14 business days. PLEASE RESEARCH THE COMPANY BEFORE GIVING YOUR HARD EARNED MONEY AWAY.

Peter Simpson   Sydney

7:13pm on Monday, March 16th, 2009 

I have done the optionectics 2 day seminar many times. Please beware of these people. They teach you strategies that should theoretically work but in reality they dont because the criteria for these strategies that they give you is incorrect.Eg their calander spreads with so called volatility skews have been debunked by another company.Their straddles with low implied volatility and then ride the increasing implied volatility at earnings have been debunked by another company. Also just the basic long call or put spread with 90+ days to expiration has been debunked by another company,The reason they suggest 90+ days to expiration is so it gives you time to be right. Absolute garbage.

They try to sell you profitsource and other products that can predict where stocks are likely to go by use of Elliot wave. What a load of rubbish, any floor trader will tell you its rubbish.

No one will ever learn how to be a trader from doing a basic 2 day seminar,no matter how many times you do it.
I know people who have attended all their courses for a cost of 20k plus and still are not full time traders.

They give you all these unrealistic returns, Im sorry but you can not turn 5k into 62k by just using options as a previous poster has stated unless you have some inside information on companies you trade options with,even then market makers would be wise to you in possibly knowing something that they dont as well as the SEC. Think about it 5k into 62k is a return of 1240% . And if you do place a 5k trade (all your capital) on the one trade you cant be wrong at all in the direction you have to be right the first time and the chance of you making 1024% on the first trade is extremely remote, so you have to do it many many times and never be wrong. This is the sort of garbage that you have to sift through when listening to other students of optionetics.

Other companies have proven that the strategies that optioentics teach are not taught properly that they give you false info just to make the strategy sound impressive.

However there are a couple of traders there that have been floor traders and when you read what they have to say on there discussion boards about trading you can tell that they know what they are talking about

If you do decide to go with optionetics be prepared to spend an incredible amount of money and also be prepared to sort the wheat from the chaff. Trading is about the toughest game there is it can also be the most rewarding.So please dont believe the hype and believe that you will be a full time trader from doing the very basic and I mean very very basic 2 day course.

Michael   Toronto

8:40pm on Wednesday, March 11th, 2009 

I am still waiting for refund after numerous calls and emails. I tend to think that this is a scam.

Anonymous   Vancouver

1:41pm on Tuesday, March 10th, 2009 

I paid for the course and on the very next day I asked them to cancel the transaction. They told me that they had shipped the materials to my home address (it was a complete lie because it took me a while to receive them) and I could return them at the day of the seminar. I did exactly what they requested and here I am... more than a month later and with no refund.

Jack   Calgary, AB, Canada

3:49pm on Friday, March 6th, 2009 

I went into this with an open mind and purchased the course, $3995, After 1 week of studying the material decided to use the MONEY BACK GUARANTEE.
Its now 2 months and still NO REFUND, I get the ASSURANCE, that the refund is in process and will occur, however no one ever returns my calls, the only way I get through to anyone is calling under a different name, if I give them my name, I am kept on hold indefinitely. SCAM, SCAM,SCAM

Bill   Philadelphia

4:21pm on Wednesday, February 25th, 2009 

Just went to the program this afternoon and it was just what the others have written about. "A Sales Pitch". Approximately 30 people attended and 3 people signed up. I'm sure I'll probably get a call tomorrow. If Ari is so good at options trading, which he claims he is and that he has enough money to retire then why is he selling the program. I'd personally rather be home with the wife especially if it was the one shown on the screen. Got to agree! It's a scam!

joseph nyerere   new york

8:56pm on Monday, February 23rd, 2009 

I start with me. My evaluation lead me to take the courses. I sold myself. It was the price. I traded and lost about 15 grand that I did not have to lose. But I lost it trading before I learned what I thought I had learned.

Before taking the course, I was a series 7 broker in the penny market for 5 years.

After losing the 15 grand, I started to study the course that I paid optionetics for. I traded on paper, paper money for about a year. I lost money on the paper trading but I knew how to manage my money in the trades at that point. That is after losing 15 real grand and 20 paper grand.

I'm back in the market for real this time and I manage my money without risk that dont make sense.
I started with 5 grand of real money. I roll now is about 62,000.00 and climbing with stupid trade
and hoping to win a trade.

I know how to trade and I followed the instructions this time.

For someone who wants to put in serious 4 to 5 hours a day studying and managing what little money they have and not making stupid trade they can make money without working hard.

joseph nyerere

bruce   san diego

11:47pm on Sunday, February 15th, 2009 

i went to 2 hr seminar last week in San Diego; there were about 20 people attending that; instructor was from Idaho, guy with 5 kids. he had 2 assistants. I trade stocks, so i wanted to learn more about options. during the class people would like to ask questions, but the guy rebuffed everyone, saying there will be discussion at the end. after he was done, all u heard is "folks step towards the back, the guys will sign you up". there was no discussion whatsoever. i walked out and talked to 2 girls at the hallway about that "stuff". They said the class sounded like a time sharing they used to sell. I totally agreed. Nevertheless, i went back and talked to the 2 assistants. One of them was saying he used to be a fund manager, but when he found optionetics and went through the class he only does option trading since, making good money. IT ALL SOUNDED SO CONVINCING. there were two people next to me who signed up, there were about 3-5 more who signed up earlier. i did not. I walked out, went home, still thinking, maybe i should. what do u know, the next day i got a call from optionentics, offering me the same 2 days classes not for $3600, but for $1995. I told the guy i will call him by friday (thinking i might negotiate the price to $500). i did not call on friday, but he called again, i did not answer the call. I thought even $500 is expensive. now i am reading the massive complaints from some of u. My frugal mind was telling me that the "sh.." was very expensive and I am glad i did not sign up. Still what makes people to sign up is the GUARANTEE, (i mean if they guarantee it in writing, it must be legal, right?); which if u read the complains is no guarantee at all. Once they got your money, end of the story. again, if it sounds too good to be true than it probably is not. the optionetics are like car dealers asking u if $500 payment for a car would be ok with u. if that 2 day class is about getting people to sign up for additional classes sucking more money out of the people, it's horrible.

seminar dude   san diego

5:49pm on Monday, February 9th, 2009 

their refund policy is terrible.
Will be contacting the State Attorney Generals Office to get mine back.
They should also have their business license revoked also.
Bunch of scam artists.
Don't do business with them

Fred   Fort Myers, FL

12:17pm on Friday, January 30th, 2009 

The CEO, Richard Cawood, employs a personal chef. He puts his kids in the most expensive private school in the area. Then he turns around and lays off 20% of his staff! Need I say more about this man and his ethics?

All the execs care about is selling so they can put your money in THEIR pockets. They don't care whether you learn anything or not. That's why 90% of their seminars are pitches for more seminars -- they're not in it for us, the students, they're only in it for themselves.

Beware of this company and run FAR FAR AWAY from them. They have no integrity whatsoever.

Joe   Fort Worth

11:16am on Thursday, January 29th, 2009 

You can do ALL the stuff that Profit Source and Platinum do for free on Thinkorswim. They have FREE downloads that do the same and don't cost you 3995.99 or charge you an annual fee.

Don't waste your money on Optionetics.

BEEN THERE....DONE THAT and all I really got was screwed.

John Nieson   Dallas, Tx

10:28am on Monday, January 26th, 2009 

i bought the material and training class in 11/08 and the strategies have turn my porfolio around. i have made money on my last 15 trades. Spread trades are working very well in this down market. Thanks to the optionetics team i got control of things and i'm very happy with what i've learned.

DGK   Canada

3:55pm on Friday, January 16th, 2009 

I signed up for their 2 day course for 3995 plus tax. I received and read through their materials and began to realize that my limited option knowledge would far outdistance what they were going to teach. Do not sign up for this course and instead look at some of the resources on the internet. Two interesting sites with good software are investools and MarketVolume. They both have useful software to view when money is entering and leaving the different markets.

Good Luck.

nero   nyc

5:26pm on Monday, January 12th, 2009 

The free presentation was very unconvincing. The overly polished speaker -or shill-made outrageously optimistic projections on option trading which were obviously ridiculous.
I wanted to ask him if he had such a foolproof system for making big money, why is he bothering to sell it, and give others his bag of tricks. He should have been able to make so much money himself that he wouldn't need to be a salesman.
Remember: ANYTHING THAT IS TOO GOOD TO BE TRUE- USUALLY IS!

Josiah   Madison, WI

3:20pm on Monday, January 12th, 2009 

I know someone who used to work there. It's run by a bunch of greedy people who are only interested in taking your money and don't care if you learn anything about trading. In fact, they actually try to NOT teach you, so that you'll keep paying for more seminars. Stay away from these bozos.

Peter Frank   San Diego

1:38pm on Wednesday, December 31st, 2008 

Stay away! If you buy the seminar, it's probably best if you DON'T TRADE AT ALL, because it already says that you don't have COMMON SENSE!

C'mon, great traders are trading, NOT TEACHING.

If the Optionetics system was 100% that you would make money, thay would be making a lot of money and NOT TEACHING YOU! Think about it!

Of course, there is a lot of different strategy with Options. I could teach you several different ones. It still not guaranteed you will make money!

Don't be an idiot and paid $3000 to these SCAM ARTISTS.

These people cannot make money trading, so they make lot's of money RIPPING OFF people.

Go to the book store, or AMAZON.com and buy some books! Read it! Read it again! I just saved you $2850 dollars (depending on how much you spend on books.)

Rob B.   Las Vegas, NV

12:16pm on Tuesday, December 23rd, 2008 

Went to the seminar where a henchmen closed only two of 25 people--I was one of them. Once I bought the deal I was left alone to fail. Customer service was rude and could not get on the phone. I returned the material and two months later they have not given my money back. STAY AWAY!!!

Bill   Location unknown

4:13pm on Monday, December 15th, 2008 

I can tell you that Optionetics nor Ari Paget were selling software in San Diego - instead they are offering to teach education - managing risk. When you buy Optionetics you get a lifetime educational pass to their intermediate seminar and that includes no software. If you go to their website you can see it for your self, no software was being sold to you in San Diego.

So what is Optionetics. Teaching strategies + practical application of low risk managed risk profit trading techniques. They teach the strategies that work in the current market and by adjusting the courses they are able to adjust to what will work now. Now of course its easy to go on websites and claim foul but thats of course the easy way out. Alternatively you could take the materials home and actually do some work to understand risk. Or buy condos .... and get them repossessed and blame the mortgage broker.

So easy to blame someone else rather than act to change your life.

sue   san diego

10:15pm on Sunday, December 14th, 2008 

Today 12/14/2008 i attended Optionetics free workshop in san diego at sheraton,hosted by
Ari Paget,everything he taught sounded very informative and after the workshop i was convienced that i would buy the software but only changed my mind the last minute when i saw that no one else in the room was interested to buy.I decided to go home and 1st check their reviews and i ended up on this website that am very greatful for am definately not going to buy the software.

Annie   Chicago

9:53pm on Sunday, December 14th, 2008 

I am having good success with optionetics and George's ideas. The risk management techniques have saved my portfolio in the last 3 months. Without Optionetics I would have lost everything.

Dave Black   San Diego

11:17pm on Monday, December 8th, 2008 

I have been an Optionetics student for 3 years and have found them to be an excellent company. They teach risk management strategies and how to trade in the markets. In this economy they are the only way to go.

I have bought and used many of their products. I have returned items and got a full refund without issue.

I could say nothing but good things about this organization, its customer service and staff in general. OASIS is an amazing course that I fully recommend for any trader.

There is no free lunch, nor do they say there is, you have to do some work to learn how to trade. If you attend seminars you meet many happy students who have been alumni for many years.

Dave

Edwin Aiwazian, Esq.   Los Angeles, CA

3:12pm on Friday, December 5th, 2008 

Dear Consumers:

I have previously handled consumer complaints against Optionetics with great results.

Currently, I am investigating a potential class action against Optionetics for violations of the California Unfair Business Practices and False Advertising Act.

Please contact me to discuss the possibility of becoming a class representative. Thank you.

With kind regards,

Edwin Aiwazian
THE AIWAZIAN LAW FIRM
330 Arden Avenue, Suite 205
Glendale, CA 91203
Phone (818) 265-1020
Fax (818) 265-1021

Mike B   VA Beach

5:30pm on Wednesday, November 19th, 2008 

I was failing to create a consistant income trading stocks and a friend encouraged me to attend the optionetics seminar.

I bought the course and did not even attend the 2-day seminary but have since began trading options and have had sizable returns.

The Optionetics course gave me the basic knowledge of how to compete into today's market and I am in my most promising financial situation ever!

John   Massachusetts

8:55am on Saturday, November 15th, 2008 

DON'T WASTE YOUR MONEY OR TIME!! These people are deceptive at best! I decided, yes, after signing up for $3500 (BIG mistake), to cancel the next day after the initial seminar and have been getting the run around since they assured me I would be receiving my refund immediately after sending the training materials back, which I did. Their "Notice Of Right To Cancel" states a very short period of time (10 days) after cancelling BUT this is an outright lie! They hold off reimbursement as long as possible. THIS IS FALSE ADVERTISING! I am beginning to think I may need to get my lawyer involved in order to get my money back as they refuse to answer any further of my on-line inquiries. Don't let yourself fall into the same trap! There is NO free lunch! The only way you can possibly make ANY money with this scam is if you have LOTS of free time to spend on the computer EACH day!

Dan   US

5:30am on Monday, November 3rd, 2008 

Optionetics = SCAM !!!

Optionetics = RIP OFF !!!

Optionetics = HARD SELL !!!

Best Advice = Stay away from Optionetics.

HML   Australia

12:17am on Friday, October 31st, 2008 

To: Anynomous, Sydney Australia

I also enquired about a refund and was told that i will need to sign a deed of release! What is the problem? Just refund my money !

I was also told that my money would not be refunded for 14 days!

It has SCAM written all over it!

Jay   Sydney

9:44pm on Thursday, October 30th, 2008 

Optionetics is nothing more than a scam!

They lure you in by offering a free 2 hour seminar. During that 2 hour seminar they will try to SELL you the 2 day training course. ZThe 2 day training course is not cheap! It cost $3995!

If you don't sign up for the 2 day training course, they will ring / email and pester you! Talk about hard SELL and harassment ! I have also heard that the 2 day seminar is nothing more than another SELL to SELL you more software, education etc etc.

The internet has so much information, so my recommendation is read, understand the basics, get some mentoring from somebody good and practice, practice, practice. This is the only way you will learn and be successful. Don't waste your money on Optionetics!

anynomous   Sydney Australia

11:58pm on Sunday, October 26th, 2008 

Optionetics refund policy
I was invited for a 2 hrs seminar and I enrolled and paid 3995 AUD for the course, I was promised that there was 100% money back guarantee and if I return the material within 21 days I will get the refund back to my credit card on the spot.
I took the materials home and I found it is too hard to understand for trading mostly in America. I contacted Optionetics and was passed to several staffs who called me in middle of my working hours and who never reply to my emails. I was advised to keep the materials and invited to comming for the 2 days seminar but I refused not, I have to wait for them to give me a authorised number to return the materials. When I get my partner to deliver they ask him to sign a DEED OF RELEASE(with all of the legal clause such as bar proceedings etc..),in order to get the refund back in the future. Optionetics now have their materials back with my money.
If anyone in Australia who having the same problem with me please contact the Media to let people know about Optionetics. Why we have to sign a Deed of Release when we return to them all of their materials and never use it and we only want our money back as their guanrantee. Why can they make thing simple like when we buy things and return it within the cooling off period we can get the refund credit back in our credit card.

Derrick   San Jose, CA

2:14pm on Tuesday, October 21st, 2008 

They came to town a few months ago with their
Options seminar all around the SF bay area. I
wanted to see what the hype is all about. I
also checked-out Optionetics on the Rip-off
Report about these "get-rich quick" real
estate, options, wizetrade stock, and all of
them are high-priced rip-off scams.

The Forex, Wizetrade, Teach me to Trade,
Optionetics are all owned by the same company -
their motto and mission statement is to take
your money for worthless generic information
anyone can get online or through research in a
public library.

The founder and owner of this Optionetics
company is under investigation for fraud. Don't
you think for a second that common sense of
spending $3500 for 2-days of garbage is not the
right thing to do.

Most all of these late-night seminar gurus have
been in jail for fraud. You never hear from
these late night pitchmen such as Tom Vu, Ed
Beckley, etc....

Save your money and learn this on your own.

Pat   Sacramento

6:52pm on Monday, October 20th, 2008 

I suspect the course may be good, but my complaint is about the un-honored refund policy. After I signed up for the couse on 9-18-08 my wife made me return the materials and not take the course until I was employed, which I'm currently not. IAW the Optionetics refund requirement, I returned the materials in like-new condition at 09:30 on the first day of the course, 9-2-08. The refund policy says to allow 30 days for the refund. As of today, 10-20-08, I still have not been credited the $3,495 that I was charged. This does not make a good impression on me about Optionetics.

Ann Onymous   Santa Rosa

7:04pm on Saturday, September 6th, 2008 

Optionetics seems to be like so many "courses" taught by "gurus". They are not interested in teaching you how to do options safely & sanely, they are interested in selling you the next course.

The 2-day seminar is over the head of just about anybody who attends it. I believe that this is done specifically in order to make you feel stupid so that you will buy the next course or better yet the personal mentoring. They also tell you in the first 2-day course that course materials are worthless. Well, if that be the case, why do they charge you $3500.00 for it?

I think it is just another scam pulled off by people looking to add to their own trading accounts by stealing from yours.

The community thing is probably also bs.

I can't believe I bought their line. Maybe some of the lower level people are ok. Get rich quick schemes usually don't work. I must've been drunk at the time to fall for this. Options are dangerous.

And they don't work like they say in the materials.

Rick   Los Angeles

1:08pm on Tuesday, July 22nd, 2008 

I recently took the Optionetics 2-day training for $3,500. Optionetics advice regarding options is very poor. The only reliable money in options is in selling covered calls, but they never tell you that.

Barry   Sydney

11:32pm on Tuesday, July 15th, 2008 

Watch your wallet!!! Thats what you need to do at the these seminars. I have spoken with staff and had inside info as to how it all runs. Yes the free seminar that will "have you up and trading in no time" is purely there to sign you up for the 2 day seminar.
Here, the instructors have to sell the software. The 'educatin consultants' in the room are paid on a total per head basis. So they are telling you which package is 'best for you.'
However, after time and study you can do it. but it takes time. Options can be risky, but they teach minimum risk strategies. ie- buy calls and buy puts only, thus limiting risk.
but i am sure you can get it cheaper elsewhere!!!!

John   Canada

1:11am on Tuesday, June 24th, 2008 

The fee for the training course is NOTHING compared to what you may lose by using this course. I went to a number of the free re-attendance seminars and have yet to meet someone who makes money. Even those who bought the "platinum" software were no better off. In my opinion, these people prey on your fear and greed and totally understate the risks. It is also virtually impossible to meet their refund requirements if you have a modest trading account. They teach you to buy contracts about 90 days out and often sell about 60 days later. They make no mention of how many simultaneous trades you would have to have going in order to meet their refund terms. If you buy super cheap contracts to keep the costs down, the commissions can eat you alive. They do a horrible job of teaching students how to choose a stock to trade. They teach basic options strategies...if you want to know more, sign up for more costly seminars. Didn't I already pay to be taught?????

kstump   Lancaster, PA

3:24pm on Friday, June 13th, 2008 

Anyone who believes that two days of training is going to make them "instantly" successful in this market environment is not dealing with reality.

I've been a client/subscriber/customer of Optionetics since spring of 2004. I can't count the number of times I've repeated the 2-day seminar (for free). Once I decided I really couldn't learn much more by repeating that course I began taking advanced classes.

Through hard work and study I am now trading profitably. It is not an easy profession to make money in. But then, if you took a two day seminar on brain surgery, do you think you'd be ready to actually perform surgery on sombebody? Could you fly the space shuttle with two days of training?

Like any other profession, it takes training and hard work. Also, Optionetics recommends only trading on paper until you know what your doing and have some confidence.

I know several people who have properly used Optionetics techniques and are now successful traders. I do not work for Optionetics. I am only one of their satisfied students/customers.

Ruth Moss   Santa Fe, NM

12:29pm on Wednesday, June 11th, 2008 

I have attended the Optionetics seminar many times over the past few years. Of about a dozen people who started about the time I did who banded together to form a study group, I am the only one still actively trading. However, I am trading stocks, which is frowned upon by Optionetics, not the options they presume to teach. Although I no longer subscribe to the Optionetics web site, I find Profit Source's Elliot Wave which I found through Optionets usefull, along with my other tools, in making me a successful stock trader. But when I'm at the seminars, I am always sorry for the new Optionetics students. They deserve full attendion for the close to $2,000 a day they paid for the seminar. Instead, at least 1/2 day is devoted to selling them additional courses, as though they spent their first $4,000 knowing that they would be told more courses are required for them to be successful. Depending on the presenter, the amount of additional time spent on interesting financial topics not related to the skill of trading options, varies. I do think that honesty requires that the initial, free 2 hour presentation states that the ititial $4,000 is just that, initial, and that much time will be spent in the seminar the students paid for convincing them to continue their education in order to be successful trading options.

CK   Melbourne, Australia

4:42pm on Thursday, May 8th, 2008 

I agree with Michelle. I did options in university, so I have a good understanding about it. The two-day seminar was a showcase of their software, which was a sizeable investment. I walked away at the end of the seminar feeling shortchanged because I paid good money to attend it, but I still don't know how to put up a trade because I didn't get the software.

Michelle   Portland, Oregon

4:41pm on Wednesday, March 12th, 2008 

I attended the 2-day Optionetics semiar for $3,495. Half of the seminar consisted of a sales pitch for their software and continuing education. They pushed very hard for everyone to sign up for their package price of an additional $6,300. They taught the seminar using the tools they were trying to sell you. They didn't prepare students to go out and make a single trade after the 2-days. This was nothing more than a scam and I want to warn everyone I can.

Bitbucket13   Location unknown

9:03am on Tuesday, February 26th, 2008 

Optionetics is Councelling-Selling

custom customerreviewbody: I attended the 2-day seminar many times so I feel I should say something about it.

Optionetics does teach you how to trade. They offer a lot of useful advice from people

who claim to know what they are talking about from floor traders to brokers, to
professional traders.

They teach a particular form of mechanical trading using elliotwave theory which they claimed is 75-80% accurate in predicting market direction - but I found it to be
inaccurate.

They travel world-wide teaching the same method to a large number of traders, however, I believe there is one immutable fact: The market does not accomodate a crowd.

To me, the 2-day course is somewhat of a donut - I get the impression there is missing information. For instance: they teach only to trade daily elliot waves and do not take into account the monthly and weekly influencial waves.

They tease you at the end of the seminar with a no-lose sure-shot trading method called 'Tarzan loves Jane' (the SAME chart gets put up each time!) which is only available in
their 'advanced' courses for which you pay thousands to attend!

I felt cheated.

They have 2 or 3 instructors at a seminar, who take it in turns to plow thru the course material at a fast pace leaving you no time to think thru the complex concepts being taught - and most questions are simply ignored.

I call this 'DATA BOMBING' - where the brain becomes so overloaded with unprocessed information that its judgement becomes impaired and resistance to slick sales presentations is lowered.

They train you to say: 'YES'. They ask simple questions that require an affirmative answer from ALL the class in attendance and ask them to raise their hands - just like in school. You are also requested early on in the piece to 'be positive'(ie: not complain).

I found I had to re-attend 3 times in order to fully absorb the material - but I still have not used it for fear of losing.

I also noticed that a lot of material has been dropped from the original 2-day seminar because it is "not working at the moment" (did it ever?) and in hindsight I realized that the option strategies taught by Optionetics, albeit salted with useful practical information, can be found in David Caplan's FREE booklet on option spread strategies! (I dont know whether he still gives this away or not)

I believe that Optionetics training methods purposely switches off the Adult and switches on the Child, and in this state of mind a once reasoning level-headed adult is capable of coughing up thousands of hard earned savings on request!

And it is no surprise that Optionetics offer free repeat attendance to their 2-day seminar which simply creates more opportunities to sell their ever-changing product lines.

Would I re-attend again? yes. why? To get a handle on the latest techniques and for the free coffee... They even ring me up to tell me its on again!

PS: when I first subscribed to a year of platinum, I found the data to be riddled with errors giving rise to erroneous predictions - which can be a trap for the uninitiated...

PPS: if anyone knows what "Tarzan meets Jane' is PLEASE tell the rest of us - and save us some money!

Dan   Los Angeles

3:44am on Monday, January 7th, 2008 

The so called "free 2 hour seminar" is all about trying to sell you the 2 day seminar which is very pricy. The salespersons (and this is what those speakers are) talk a lot about the "no risk" etc., but it is highly misleading. Once at the seminar, the new sales tactic begins, and they try to sell you software which is supposed to somehow "know" where stocks are going. Again, the software offered is over $3,000.00.
If you buy their platinum program, there is supposed to be on line help, but the help is very poor, and you cannot really count on it.
All in all, in the seminar you do learn about options, but it will be like buying a pizza for $2,000.00 when you can get it for $20.00. If you just read introduction books or visit web sites which gives you free information (such as Yahoo), you will be get the same information for free or at a small fraction of the price.

G. Claiborne   Fort Myers, FL

4:16pm on Thursday, December 20th, 2007 

Optionetics, expensive and educational, I went to the free introductory seminar and signed up for the $3000 training course. I wanted to learn about options and I was attracted to their promise (it was valid) that I could attend the course as many times as I wanted, at no additional cost. I went to the course (now twice) and found it very fast paced, very complex, and difficult to understand, much less integrate! I should say at this point, that I have two Master's degrees... in engineering (USC)and in business mgmt (Pepperdine Univ) and have a relativly high IQ.Of course there was the additional upsales pitches for buying the software and the data download services...all very expensive. I studied hard and did learn alot about how to trade options...I never actually traded any....but my class buddy (another student) did, and he lost money on all his trades (at least the ones I'm aware of. I assume there are people who make $ trading options, its a big mkt. It seems to me to be like anything else...it takes a lot of training, understanding and effort to learn how to trade options...and especially to make money at it.
I feel I got my money's worth for the training (compared to other professional courses I've taken...and presented), I learned a lot (thru hard effort on my part), and I can return to 'brush up' anytime I wish at no addnl cost. If I were to decide to trade options, I might continue w/ Optionetics, and I might not. Overall I'd say, the books I've since read on options, are the best 'learning source' but the Optionetics seminar was a good way to 'get started' in a new field...fast, broad, and educational, but rather expensive.