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iFundTraders

iFundTradersLLC is a New York City based educational trading firm that currently educates and prepares individuals to enter into the professional world of trading equities, currencies, and futures for a living.
 
 
 
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Please stay away... IFT is a SCAM
I am writing this to save others the time and money I lost with this company. Please look elsewhere for you training needs. IFT has no interest in making you a successful trader. I have worked with both FOREX and Equity programs. Neither programs supports the trader and the information provided is the same in both programs.... Please, do not waste your time or money on IFT

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Now Element Trading
I just went to a webinar to see what other prop firms are offering. The new company is Element Trading. These people are asking for a three month commitment of 499 a month saying that it is company overhead and promising to be profitable in three months. They say that a person is trading on company capital but the requirement to trade on enough capital to clear over $500 a month will take about 6 months to do. This place could be ideal if it were just a month commitment of $500 and trading on company capital for the sheer experience of trading but nonetheless a commitment of $1500 for educational purposes is relatively high for something that could be done by virtual trading. This place just preys on newbie traders that don't know any better

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arrogance
for honest information see

http://www.elitetrader.com/vb/showthread.php?threadid=237709

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Would You Trust a Known Scam Artist?
Oliver Velez (ifundtraders) and his other scam artist partner Charles Vaccaro (who now is running another scam company himself) have both stolen traders money. They will pull you in using professional looking websites and overall operations, they will let you "trade" for a while, then they close up shop and walk away with their traders money.

This is EXACTLY what they have done numerous times under the company names VCM Trading, Team Trading Extreme, Team Trading and many others I am forgetting. Velez is great at stifling those people who have been robbed, he gets websites removed which detail his true criminal acts, he pays off the loud mouths who talk about his past, he strings people along giving them hope of being paid back the money he stole, and in the end he does nothing but fulfill his own selfish life without a care for the people hes robbed. Beware of this man. He is a fake, a liar, and a true scam artist. Yes I was part of Team Trading, his last venture and yes I was robbed by him and have NOT received a single dime nor do I see any intention of them doing so.

Bottom line: Oliver Velez is a known scam artist, would you give your money to him?

Don't be stupid, this is a warning!

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Avoided questions Refused Information very unprofessional
I am A new Trader And new to this website...

Now that being said I have much to say about ifundtraders which has nothing to do with previous ventures and "scams". I know a friend who had given me the website and said it was a great way to learn and he had just signed up. I figured why not it seemed like a chance to learn and to make some money.

I checked out the website (it is amateur at best and lacks much of the relevant information of any business i however let is slide iv seen a-lot worse from good companies)

I spent an hour of my time and watched one of their free webinars and found its interesting they seemed to know what they were talking about and as a person with no previous trading experience what they were talking about made sense. (i later found all the information i was given online and 2ce as much after but it was free i didn't expect much to be honest)

After reading the Horrible reviews on the owner Oliver Velez which was my first red flag i got in contact with their customer support to try and get a clearer story on what had gone on in the past. They told me the other company had failed +1 and then immediately proceeded in telling me it was none of my business and not to get involved -2 the response was extremely unprofessional, defensive and pushy and further more they Defended Oliver in such a way that it seemed rather childish. this also Rose a few red flags about the company

needless to say my experience was not going very well at this point i was more interested in what would happen if i inquired about price i had mentioned that i was a student and they continually offer discounted prices during their webinars i was met with a price that sounded rather pleasing it was well below the online price and the regular price which half raised a flag the other half was raised when they continually said it was under 3000 but would not say any more than that (by now i was thinking ok this is extremely fishy but i kept pushing hoping to find a redeeming quality more for my friends sake than mine)

i continued to ask questions and to have conversations with a rep named Bill Deichler by this point they had quit responding to single emails and during the same business day which raised another red flag they seemed like they were ignoring me because i was asking a-lot of questions (that's my opinion and not fact).

They finally responded with a price and monthly fees which were quite a bit higher than advertised on the website which was to say the least disappointing and the deposit information so i could send the money. needless to say i responded immediately saying that i had the information and money they requested but i would not send it till i reviewed a contract. to which they responded and i quote

"Already sent you all the pricing, payment and program info.



You are paying for the education… Once you pay and enroll, all you will need will be located in your personal web based control center… All other data about the program is located on the website."

I have been through the entire website more than once trying to find what i wanted and it is simply not there.

the deal they offered me was not even available until i mentioned i was a student and not on the website for another week or so after that

I responded to their email Saying that



"as a matter of business i make it a point to review any contracts before i enter into any agreement. My intention is only to cover all my bases before i enter into any agreement.

I would expect the same thing of any partner or employer i wished to enter into a binding contract with."

That was approximately 5 days ago i have not received a response and i do not expect to.

If this is a real company they do not know how to do business and in my opinion will never survive. the More likely scenario is that all the negative reviews are correct and this is a scam.

My recommendation DO NOT deal with this company if you wish to keep your money

If you wish to see the conversations and emails that were sent back and forth i will be willing to send them to with the exception of my name for obvious personal reasons you can respond to this post if you want the information with your email address.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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Stole My Money!
I was with Olivers previous outfits, Velez Capital Management, then Team Trading and whatever other names he used to escape people who were catching on... as a result I have been robbed of my entire trading account and still to this VERY DAY have not received ONE DIME from these CROOKS! At the time of their last scam I was even in close communication with his top guy Jim Droskoski. This guy completely miss lead me, along with every one of Oliver and Charles's cohorts. Still to this day i have not received a dime and I would bet i probably never will. Anyone commenting good things about these people around the web are either part of their scam or fresh meat being sucked in by them. These people are world class scam artists who know EXACTLY what they are doing, how to lure people in, hide all the bad press or as much as possible, change names and escape the legal system with ease. Its an incredible shame however, because I would bet OV and CV will be able to continue to rob people without any legal ramifications - lovely legal system of the USA. Has anyone heard the video clip of Charles Vaccaro saying how the legal system in the states protects criminals? (if you search around you will see that he made serious attempts to have this removed and may have succeeded) At least he doesn't deny who he is, a CRIMINAL!! After all he uses the legal system to his advantage, he has no reason to deny it. He has made a career from robbing honest people like myself.

Bottom line, if you want to work with, or even trust a SINGLE word that comes from these people you are supporting criminals and putting yourself at very high risk of having your money stolen like me and MANY other people.

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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remember Team Trading?
'nuf said

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Oliver Velez Known Criminal
the owner of this operation is Oliver Velez, who has admittedly stolen hundreds of traders' deposits. Please stay away from him & his crap education.

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"I Rob Traders!"
someone else said the title i used but it NEEDS to be repeated. People NEED to be aware of these scam artists. It makes me sad that our system allows crooks like these to operate their businesses. But please people lets continue to inform the public that Oliver Velez is a thief! He stole many traders money using the companies named, Team Trading, Velez Capital Mgt,among others and now this! STAY AWAY!!!

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Stay Away
I believe in second chances.. maybe thirds.. but enough is enough...

PLEASE STAY AWAY FROM THESE PROVEN SCAM ARTISTS OR YOU WILL LOSE ALL YOUR MONEY...

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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