Team Trading Complaints & A Conversation With Oliver Velez
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You might’ve read my initial blog post questioning whether Oliver Velez, Charles Vaccaro, Team Trading & Team Trading Extreme STOLE their customers’ money. I have no idea if they are a scam or if there are lawsuits brewing (my guess is yes on both counts), but I do know is one of my TIMalert subscribers had to cancel the service he loved because Team Trading had closed up shop & taken his entire trading account with them…and now they are not answering his email questions or phone calls.
With allegations of thousands of people losing their entire trading accounts, there still has yet to be ANY news articles written (the debate has been relegated to message boards on degenerate trader websites). NONE of the higher ups in “the trading industry” seem to care that these scumbags proudly exhibited at EVERY Trading Expo of years past (I even talked with a Team Trading rep to get them on Investimonials…see their ratings so far and if you are a customer, please share your experience so we can get to the truth…I think we can handle it)
Luckily, I am here to fight for the little guys and my thanks goes out to one PennyStocking Silver subscriber for sending me this interesting apparent Facebook conversation with Oliver Velez:
Despite my email being put out there for Oliver to respond to, I have not received any email from the accused. Oliver was given the chance to respond to my article, but says he “can’t fight this. My actions are all I have to offer”. Responding like friggin politician, he doesn’t address ANY of my concerns. Where is all the customer money Oliver? Why don’t you repay some/all out of your pocket?
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No Oliver, you can fight this by telling us the whole truth and nothing but (methinks you’ll soon become accustomed to this phrase) and you have money to offer too. And it’s money you should be offering to the thousands of people you, your partner and company (companies?) have ripped off.
Oliver Velez supposedly has a new chatroom and wants to focus on teaching…well, as I’ve told a few people, he could claim to be able to make me a billion dollars, but given that we know what happens to his ex-students, I’d probly never see any money he’d make me! It’d really be a bummer to make a billion dollars and then have Oliver or Charles or one of their accomplices run off with all that money…and that’s IF I believed Oliver Velez could make me any money, which I don’t believe for one second.
Oliver Velez you freak, do you not feel anything when you see emails like this:
Hello Tim,
I have known you since 2007, I mean just from the internet and I love your strategy and I like your attitude and your honesty. See Im a college student from Germany and I worked 4 month to save money so I can open an account and I saved 2,500 dollars. So I opened an account with a prop firm so I can get a 10:1 leverage and daytrade with just 2,5K. It worked for four weeks and your strategy worked as well, but since last week the owners of that firm which is called Velez Capital Management aka Team Trading aka Team Trading extreme closed the company and all accounts and the money is simply gone. They are not answering emails or phone calls and the website is shut down… So all my savings and all I had is gone… Thats the reason why I cancelled TIMalerts because I do not have an account and no money anymore. You were right the financial industry is full of frauds… They stole my dream as well… But I will work again save money open an account and start trading again but its gonna take a few months…
All the best Branko
Here is the followup email from Branko after he read my post exposing this trash:
Thank you very much for the great post… I love it… Those freaking scammers deserve as much negative posts as possible. Here a quick update: Oliver said in his chatroom that he had nothing to do with the indy accounts that this was Charles Vaccaro’s responsibility and that Team Trading Extreme (indy accounts) was all Vaccaro’s business. What a joke in a 50%/ 50% partnership. Oh well I said good bye to my money.
I don’t give a damn whose fault it is, if MY partner ripped thousands of people off, I’d go into MY savings and pay them back because MY name is at risk. But then again, I’m an honest guy…Oliver is just a slick-talking scumbag who feels nothing for those who have lost everything thanks to him.
By now, you should better understand why I rage against all the corruption in “the trading industry” and the joke that is the financial industry…Velez & Team Trading won’t be the last, they’re probly a dozen, if not dozens, if not hundreds, of unethical firms just like ’em.
Oliver, you and your kind have been polluting “the trading industry” for far too long and thanks to Investimonials, your time is over. You will soon be made a dinosaur. This is some kid with $2,500 who is absolutely BROKE because of your existence. Thousands of others too. If I had my way, we’d tar and feather you to serve as a public warning that we the people will not stand for such disgusting business practices.
Some more followups to my post:
That pretty much says it all. If I were you, I would stay as far away from these guys as is possible. I want to commend you on your research and for not falling for this scam.
Like many I was burnt by Velez/VCM/Team Trading/TTE! Amazing thing is Oliver Velez is starting another similar venture, OliverVelez.com. “But wait, there’s more!! it’s bigger and better…plus, we’re licensed now!” Great for you Oliver, but what about us thousands that trusted you before!
“SHOW US OUR MONEY!!!!!” He says that all previous traders will get FREE training in his new venture…but what’s that adage: “Once bitten, twice shy!” Or “Fool me once, shame on you; fool me twice, shame on me” Kinda hard for us to trust you anymore! Damage’s done! We want our money back!
Total and utter scam! No other way to describe them…This company is run by some very savy, and well known scammers. Their forte is getting in trader deposits and walking away with the money. All they do is change the name of the company, make numerous false claims as to why the company is closed or changed, and the traders along with those who paid for their educational services are left out to dry. Ask for the money in your account to be returned to you and you will get no where, try and sue them, you will only waste money because they will dissolve the unit that stole the money, they will claim there is no longer any money in the company. I am telling you all this from experience and it is 100% fact. Please stay away from them, and be aware because they will just shut down this most recent scam of a company team trading, which took over after velez capital management and numerous others prior to this scam. Look them up, I am dumb founded how more people have not gotten together to stop these crooks!… I think its mostly because they are highly skilled at smoke and mirrors and keep many people stringing along and foiling any attempt at legal action against them. I have facts, and personal experience with this, please feel free to contact me for details – but do yourself a favor and stay far, far away.
Tim, please look into these guys and help expose this very large scam!
Charles Vaccaro (who is quoted saying the US. Protects criminals), Oliver Velez (who is trying to play victim while walking away with 10’s of millions from this scam alone). Jim Droskoski, who is another one of their cohorts and apprentice to the spin master, fraud kings! This needs to be announced, more people need to be aware of these crooks so the can stop stealing peoples money.
We the people will not allow this to happen again.
I encourage EVERYONE to leave your reviews of Oliver Velez, his many products & Team Trading on Investimonials so we can expose this punk ass to the world and he’ll have NOWHERE to hide.
On a side note: Oliver, Charles & Co. I must thank you…you are the perfect monsters to help illustrate how crucial it is to have a website like Investimonials. Thank you for being so devious and straight out evil. I feel terrible for all your victims, but they should take comfort in knowing their loss will help save tens of thousands of people in the future. Never again will we allow such schemes to go on for so long…in the future, the people will be forewarned.
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Hey Everyone,
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Which is why I've launched my Trading Challenge. I’m extremely determined to create a millionaire trader out of one my students and hopefully it will be you.
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Wow I am glad I saw these posts before I get sucked in any deeper
Now in his system, it is says he will fund 50,000 dollars for us to trade.from that he says that’s he takes the responsibility if we loose and if we win he takes 60% and we take 40%.
Us this real ?
Who cares? Learn to be self-sufficient. Start small and grow YOUR OWN account. It will serve you much better in the long run.
Again, forget Ollie, does his strategy work? Anybody do any good with it on their own?
Was just watching Oliver at a MoneyShow (he spoke all three days; I saw two of his three presentation). He has a “special offer” through the MoneyShow It’s not free, it’s not really not that cheap and it says that it’s nonrefundable in the small print. I’ve commented to the woman that runs the MoneyShow that I think they shouldn’t keep bringing him back (at least this time, it wasn’t all about Bitcoin), but this time, it was him three times during the three days instead of only once. He never does Q&A after his presentations. Next month, MoneyShow is doing an event in Orlando. I won’t be able to make it, but if you go, try to talk to him and ask him some questions. I’d be curious to hear what he has to say for himself.
Interesting. I was looking into Sam Seiden’s trading school, I dug a little deeper and found out that the FTC sued him for fraud, subpoenaed his trading records, proving that he loses money and barely trades. Now this guy can start another trading school. I asked around and found out that he worked for Oliver Velez years ago. Apple doesn’t fall far from the tree huh?! Once a fraud, always a fraud. Wish you would shed some light on Sam Seiden as well. These scammers need to be shut down!
It’s good to be real in an industry full of scumbags.
Recently came across the Youtube video ”The Most Powerful Trading Tactic of All Time” by Oliver Velez. I’ve been in business for a long time, and trade lightly, mostly longer time frames. When anything in life is too good to be true, more so in trading stocks then it isn’t. I’m just curious as to how valid Mr Valez’strategy on Intraday trades using 20-day, 200-day MA’s and the Bull and Bear 180’s. The preacher may not be forthright, but don’t discard the message. Is there any validity in this strategy?
Lol. You can test his strategy and maybe it will work for you. But it doesn’t give his customers back the allegedly scammed money and now he’s involved in a prop trading firm – which I DON’T recommend.
You know what’s sad. The idea is sound, it sounds like his strategy and training are sound. His tools are informative and interesting and fun. And had he been honest, it could of done alot of good and still made him a ton of money.
Very disappointed glad I saw this
So Sorry to hear of all the Traders that got ripped off by Oliver Velez. I’ve been watching his videos and thinking he was the real deal. What an Eye Opening to hear of the people that got ripped off.I was about to sign up. Glad I have seen this information
I was ready to pull the trigger on Velez’ offer, but thanks to Investimonials, I won’t! Thanks! BTW I check with the internet on everything. The biggest scams have to do with bogus vitamins and supplements. BEWARE!
Always beware of BS!
I to have been scammed by Valdez. I still have about $4000.00 sitting in New York from that PRICK which after 8 years I will never get back. I am retired and on fixed income and could use that money. Try living in Canada with high taxes and high prices on everything you buy. I really have to watch what I spend my money on. Have contacted Bill Diechler numerous times and get the same response ” nothing happening yet”. Have contacted the SEC and they won’t give me any info, they did tell me to get a lawyer Ha it would cost more for the lawyer than what I would get back.The world is full of scammers and I got sucked in like the rest of you. But how is he able to start up an other business for trading? there is something wrong with the law. He should have been made to back his clients before he could start another business I hope he gets incurable Gonahrhea and goes nuts. Thanks June 22 2019
Sorry to hear!
I agree with you. I have learned a lot from him also.
LOL golden to you? how about the thousands of people who had their broker account disappear overnight when velez’ old firm got looted…let me guess u work for him and you’re trying to do damage control on blogs…it doesnt work when u steal people’s life savings moron
Any firm asking for security deposit has to be looked at carefully. If one has to resort to these type of set up to begin trading U are doom to fail in short period of time (very high percentage of traders will fail within couple of months) Lack of knowledge of market, Cost associated with trading and most importantly lack of capital. So call security deposit can be lost when shop closes or if and when insider decide to take it and run or one of the members incur heavy losses. Always open a trading account with clearing firm that are insured so only way u will lose the money is from mistrade by you only.
Don’t get sucked into Oliver Velez’ WealthTrade Program unless you want to spend a few thousand dollars to find out he is NOT a trader! He IS a saleman! He has no time to find profitable trades for you. You will be holding the same trades whether they go up or down! You can learn how to trade the “elephant bars” in his free webinars! His claims of triple digit gains and the “Messiah of Trading” should immediately be a red flag! Now that he has started an option trading program to distract traders from the failure of his WealthTrade Program! Buyers Beware!
his wealth trading technique works for me. you are stupid to spend so much money. if you just purchased his books and dvds online that’s good enough to start with. slowly slowly once you know the basics, you can dig in further how it works. he is messiah of trading , I agree to that…….. he might have stolen money, I don’t know whose and how and I don’t really give a hoot because all I know is that i did not lose thousands of dollars with him and what I have learned from him , I could have never learned from anyone else…. cheers
I got ripped off by Velez capital management, Vacaro and Oliver Velez… Stay away from ifundtraders – Oliver’s new scam… You will lose your money and if you do make any money just try getting it out… I can make a prediction you can take to the bank… Velez will close his new rip off company and run with the money within two years! And he will just start up again and do the same thing… That’s what he does – professional con man.
I’ve always wondered what about those thousands of traders he had at Team Trading and now at ifundtraders. I’ve never heard of anyone successful mentioning they learned or were ever associated w/ Oliver Velez.
I’ve been wondering now about the UBS rogue trader, Kweku Adoboli, arrested in London, Sept. 15, 2011, in connection with
allegations of rogue trading at Swiss banking giant UBS. Was he ever a student trader at one of Oliver or Charles companies?
Funny why is he bringing his race into it. It’s almost like he is trying to accuse everyone of picking on him because he is hispanic or of latin heritage? How ridiculous. Either he is holding members funds or not. Nobody cares about his race!
Reading comprehension…..GIT YAH SOME…