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
I did the course 10 years ago and still refer back to the material on a regular basis. Because I was broke at the time 2 of my friends went thirds with me so we could afford to learn. The other 2 didn't even read any of the material and have done nothing with it! The course has well and truly paid for itself and when you consider what you pay for a Cert IV at TAFE (around $3000)for some job that pays $20/hr, I know where I would rather spend my money. The problem is peoples attitude, not the course. I challenge anyone to find that type of detailed education for free.
People expect to pay for a course and not have to do anything and become rich, then when it doesn't happen they blame the education provider! That's why only 5% of the population are financially free!
The course changed my life and I use the strategies they taught me for real estate investment as well.
It seems to be fairly mixed reviews. I just bought the home study course resale. I think that like in all things, remember, this is not the end all be all, and you have to moderate, pay attention, and judge for yourself what is worthwhile and what isn't. Somebody above said it perfectly: this is just for education... Self education. No guts, no glory! Lol
Was just at a workshop, found the sales presentation slick on the surface but very misleading if you paid attention and know something about trading. The video presentation was made in 2008. Why are they not able to update it with something more current?
The risks were greatly played down and the money made was greatly played up, however the profits they quoted were a total lie! Taxes were never mentioned, only vague references to broker fees.
There is a lot more to making money trading, options, stocks, etc... than just the apparent profit on a deal. Taxes on a deal can and will put you into the red very fast! Add brokerage fees and it is easy to have an apparently good deal go south fast!!
Overall I found them vague and deceitful at the presentation as to actual costs of trading versus possible returns. They are part of Schwab, yet they can mention what the fees will be??? Just how stupid do they think people are???
One more problem I had is while they showed a few examples of good returns on a few old trades, nothing current, there is no mention of the break even point or how much change in stock price it would take to make a contract pass from losing money to making money. With extreme price swings anyone can make a profit, but how far does one need to go to get to the break even point!
Overall, might be a reasonable product, but being late on their start time, refusing to answer any questions, until the end and it is only you and them, using a 4 year old video, (done in 2008) leads me to think all is not as good as it appears with them and their system, which they were marketing at only $995.00 if you signed right then.
Lots of bragging about Schwab having purchased the company, but no mention of how much Schwab is going to make from people funneled into using Schwab. Too many spotty things going on here to give me a warm fuzzy when it comes to signing up!
In class, the instructors just think about and talk about what is in their pants!.
& there are some who are so inappropriate & some are so unprofessional!.
It is a students, if we don't like you, "you Don't open your mouth in class":. We only teach to people we like|. Others, we lie and mislead|.
I've got vague and misleading answers from even my favorites, and lied to, etc by some:.
They are not even teaching anything useful like some of the other companies do. They cannot even guarantee the success of their elite students, the students really don't get that much out of the courses that they cannot find or learn elsewhere and if a student comes up with a really important question that they are struggling with, they are subdued or lied to or given a vague and incomplete answer, which it is eventually found for free on the internet!
There is sexual harassment and verbal abuse on students both in class and outside.
I have studied with Optionetics for 8 years and have been successful. However, it takes work and study - within Optionetics and outside too.
I took the Optionetics 2-day seminar in 2004. I have re attended the 2-day seminar multiple times, including last year in 2011. In every seminar they talk about risk and how it is more important than anything else.
I found it interesting that along with your attack on Optionetics you are advertizing, or appear to be advertizing, your options disk.
Your statement that they do not talk about or downplay risk is phony.
As an Optionetics student, I get frustrated at these negative comments. If you peel the onion, they are usually from lazy people who feel you can get something for nothing...never going to happen, competitors...lead by example would be a better approach, or just plain broke minded people who find it easier to jump on a band wagon rather than work at it...good luck with that.
As most programs like this, you must work at it to be successful. If it is as easy as finding FREE info on line or in a book, knock yourself out. I am smart enough to know that is not going to happen. Wealthy people don't have time to complain. We are too busy enjoying life and making our lives better. Wealthy is a state of mind as much as it is money in the bank. That just makes sense to me.
a scam. spent a fortune. other web sites offer more and for free.
I just graduated from law school and while waiting for my bar results I decided to learn about option trading. I came across Optionetics and their material on the Internet among many other similar courses. I'm not going attend any seminars. I'm not paying a dime for this information. Want to know why? Because you can get virtually any material of this kind for free. You need to know where and how to find it. For example, I'm now listening the 2 days course at question that I just downloaded. I just paid 50K for law school, but this is education for getting licensed. However, a real practical education, like one about trading and investments, you can find online and for free if you know what you are doing. Some people are just not smart enough to understand how to play trading games, and the game starts with information and who do you listen. My advice to you is to get a solid foundation in math, logics, psychology, sociology and obtain some basic business skills before you embark on any kind of venture, not to mention such a risky one as trading. Remember, the fool always pays the smart. So the solution is to become smart, not to complain about being a fool. Alex B
I went to the free two-hour seminar and paid the discounted $995 for the $3995 (regular price) two-day seminar. They do not deliver what they promise. True, I left before noon the first day in order to activate my money-back guarantee, but I could already see where things were headed by then.
First, they actually do give you *some* education so it can't be considered a complete "scam", but the basic level of information they present is readily available from *many* other sources for considerably less -- tens to perhaps a few hundreds of dollars, not multiple thousands.
Their main thrust in the morning of the first day is to sell you on the idea of staying past noon so you can't get your money back. What little real information they give you is barely more than they already covered in the free two-hour initial sales pitch.
The actual purpose of the two day seminar is to sell you on the next one! That one is about $4000 and includes a couple of software packages. At least one of those software packages also has an on-going subscription fee.
For all I know, the software may be well worth the price. The guy I was sitting next to was an old hand attending for at least the second time (I think more) and had already purchased the software and liked it very much. BUT, I attended for an education, not for an expensive sales pitch. I can usually get sales pitches for free. That is why I left. I did notice that the software they were selling was called "Platinum Essentials" and their summary of higher-yet levels of education included "Platinum Pro" so they were not done with their sales pitches!
Their presentation was full of snake oil. For example they discussed how foolish it is to buy stocks outright, given that every trade of a stock has a winner and a loser and you will probably be the loser since you are playing against experts (institutions and funds). I was about to ask why the same logic didn't apply to the options market but they were ahead of me -- with their software you will have an "edge" that will make you smarter than the rest.
I really appreciate all the comments below. I attended their introductory seminar today with a friend. I have a background in Accounting and Business Management and have traded stocks, but not options. It's an area of interest to me so I agreed to attend. I found that the basics presented today were very informative, but felt as if I was being pitched for the 2-day seminar more than being educated. I understand their goal & 'system', but... Any company that shows you a regular price of $4495, a discounted price of $2995, and then a "one-time, right now" price of $995, should cause a consumer to beware. I understand the need to charge for education, but how steep should the price be? A couple of years ago, I attended a seminar that was designed the same way, but for making money on the internet. A $48 website turned into a $7000 nightmare. Some call it a scam, some call it the price of education, however, the State of Texas filed a class action law suit against this company & won. Unfortunately for me, I learned of this after it was over & I took a loss. Even after filing a lengthy and detailed complaint with the State Attorney General's office, I still have yet to receive a response 17 months later. Recently I discovered an affordable recourse and I am receiving results. Hope my review was of some help to you, have a nice day!
I'm listening to the audio tape right now. I'm about 30-40 minutes in. Beginner stuff so far - I've been successful trading options on my own thus far in the past 2 weeks (up 24% as of 7/3/11). But I watch the market daily and I've studied option strategies for days before I started trading them. I'm interested in the Optionetics for the EDUCATION. So far all is accurate. I'm hoping they cover more advanced positions and teach me more about hedging my risk. Options are NOT for everyone. You can lose money on options. I work full time and watch the market as much as I can during the week. I probably spend 10-15 hours a week monitoring the market (and a handful of good company's stocks such as Google, CAT, CMG, APPL, QCOM, BWLD). This is not a get rich quick scam. It's education. Take it for what it's worth. If you don't have time to watch the market, then save your money or D/L the audio. XD
Right now they are going over spreads - moderate trading level.
I took the course in the early 90's. Paid hundreds extra to receive their newsletter with the "best trades available". Using only those recommended trades for 1 year , I lost several thousand dollars. Of course i asked for a refund and only got a free pass to the next seminar. I went. When i asked George why i lost so much using his trades, he stammered and replied "we are not using those techniques any more". DO NOT BUY THIS PRODUCT..!!!
Signed up and canceled (via email) the same day. Looks like there may be some good content there, there, but it just didn't have the studies I needed.
Come to find out 2 weeks later that they charged me anyway.. It's been 5 weeks since then and no response to any phone messages that I've left (11 tries and I've never actually spoken with anyone..) and no email responses at all.
I have live chatted a couple of times with a "Lisa V".. she just says..there's nothing I can do..
I have received a couple of calls from a gentleman named Marshall.. He's asking how the service is working.. so apparently the non existent customer service doesn't communicate with the "education" department.
Finally just had to have the company blocked from submitting Visa transactions to my bank... I guess I didn't read the fine print.. Beware..
I just received the invitation by mail.
After reading a lot of the testimonies listed here I have decided to file the invite in the garbage.
I do not know how they got my mailing address as I have never heard of optionetics before.
I had an account with vector vest [off BNN]
I think they may have shared my information[probably sold it].
I had a heck of a time canceling my subscription with VV.they just kept billing my credit card....
I feel like I am a minnow in a shark pool.
.............. BEWARE............ Albro...