Optionetics is a seminar based financial training course founded by George Fontanills. They offer free, nationwide, seminars in which Optionetics’ reps entice prospective traders with options lectures and demonstrations of their trading system. The free Optionetics seminars are run by salespeople who deliver trading information while attempting to get attendees to sign-up for the 2 day paid seminar.
The Optionetics paid seminar will run you $2,995 for two days of training and course materials on options trading. There are many mixed opinions on this course. Most people agree that it all depends on your initial level of investment education. Those that aren’t well versed in stock options lingo sometimes find the 2 day course to be rather overwhelming and at times confusing.
Their return policy states that after 36 trades investors are eligible for their money back guarantee. Most people would assume that they would have to purchase 36 trades but the fine print states that a sale occurs when an option is bought and sold bringing that number to 72 trades.
Optionetics has been around since 1993 and they work very hard to protect their reputation. They do provide a service that could be valuable to certain people; however they try to recruit customers from the general public with promises of wealth and confidence in an industry that is volatile and risky which is the basis for many of the negative reviews.
70 ‘Optionetics’ Reviews
I took my first course in 2004 and over the following year completed many more trading courses from them, everything that was offered at the time. I spent around $24,000 on trading courses and software. Classes are pricey and if money is any issue there are cheaper ways to learns.
During this time I purchased a number of their products that they "sell" you during your expensive class. There was always something else to sell and I chased many of their products, none of which I use today.
I did learn a lot about options trading and money management, but the problem for me is that I did not learn one system or style of trading and learned a lot about everything, just nothing I was great at doing. Although i meet many people in all the courses I took, I cannot remember anyone that consistently made money trading options. Just the opposite. I meet folks who had lost large sums of money and this was after spending thousands on Optionetic courses. I never made money on my 2 years of regular trading and after all my training.
I do trade again after taking a number of years off. I have learned how to trade around news and do now make money on a consistent basis. I use none of the products from Optionetics and although I learned the strategies from them I like, I trade differently. So much of what I learned on technical trading from GET then Profit Source which they abruptly changed to, is just noise for me. I get enough info off my brokers software and I think most people can as well. There are lots of free webinars our there from the options institute along with courses that most trading software offer as well. That is where I would send anyone trying to learn options. For most people they would be better off buying ETFs and stay away from options. Very few folks make money trading options including optionetic grads.
In 2004 I took their 2 day seminar. I read all their material and the CDs at the time. I took an enhanced class also for another couple of grand. I attended a pool of get together folks that talked about options. The bottom line is this. In a room full of people, I was the only one who actually did any trading. Everyone else only talked about this and that about Optionetics without every trading options. Over the years I used the same material as back in 2004. I have yet to bump into anyone who has taken the class on a repeat basis and traded options. They put all kinds of money into hearing someone else actually trade. I never made any money with options; but, that is not to say what they taught was bad. I did better with buying and selling stocks with a much higher risk. I didn't buy into Optionetics graphs programs or additional enhancement programs. Just the same I have yet to run into anyone else who took the program and actually traded options! The group I was all talk and no show. No guts, no glory, and you won't loose your shirt with options trading. To make the money, you have to do large volumes and be right! I didn't like that aspect. They didn't teach it either. Try actually trading and learn a whole lot! Their coarse then makes sense.
I spent my $3000 and attended their workshop.
Many of those in attendance were repeat students.
This I thought was a good thing as they said that once you take their course you can repeat the course as many times as you want at no additional charge. The down side is that these students were more advanced and tended to dominate the class as well as the pace of the class leaving the new students in their dust.
The year after taking the class I returned and asked about repeating the class being a former (paying) student. I was told that I needed to place a $950 dollar deposit for them to hold a seat for me. This would then be refunded after I attended the class and that I would forfeit the funds should I not show up for the class. I explained to them that I wouldn't have gone to the trouble to try and sign up if I were not going to attend but was treated like they sure as hell didn't care, as It allowed for another new paying student.
Would not recommended this course to any of my friends.
Waste of time and money
Optionetics is a scam. Salespeople teaching about trading yet no one there has ever been a professional trader themselves.
There is one guy there who was an ex jazz pianist only a few years ago now teaching about trading, what a joke. He really sounds like he knows what he is talking about dazzles you with all the technical terms lol. Any one who knows about option strategies how they work where the true risk is just laughs at him.
What is sad though is that they take peoples hard earned money dazzle them with what a great life a professional trader has then teaches them rubbish
Also anyone trying to sell you software which they claim can predict where the market is going is a scam. If there was such an animal it would be worth millions.
All they have to do is teach a simple EM formula or use TOS which is free dont have to spend thousands on useless bit of junk. Im referring to Profit Source.
There are more reputable companies out there.
Have to say I enjoyed George Fontanhill and think when he was in control they had their heart in the right place, but no longer. Beware