ComplaintsforProsper Trading Academy, LLC

• Initial Complaint

  05/14/2024

  Complaint Type:

  Product Issues

  Status:

  Resolved

  More info

  i was sold the options advisory service as a guaranteed (10) profitable trade that would pay more than enough of the cost of the service. I paid $1100 upfront and the salesman ( ****, i believe) got me to agree to the installment plan for the rest which i have been paying $160!a month since last May and i still owe $3100. ive lost $20,000 or more since then and i just want them to refund all or some of my money.

• Initial Complaint

  11/08/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  This transaction took place in June 2023.Prosper trading sales man misinformed me about the program. He told me there is a guarantee of making money on this program.I authorized payment and later found out the same day by another Prosper Trading instructor that making money on this program is not guarantee. I immediately call my bank and asked them not to allow any money taken from my account. My bank stopped the transaction.Now, they have decided to damage my credit by using uPortal360 to keep sending me bills.These people cannot be trusted. They keep pushing me around. I called uPortal office, they said I should speak with Prosper. I need this bill to stop coming. I never started any program.Thanks, Brakemi

• Initial Complaint

  08/19/2023

  Complaint Type:

  Sales and Advertising Issues

  Status:

  Resolved

  More info

  Date of Transaction 12-22-2022 Amount $1997.00 High Pressure Sales Tactics I told the salesman I needed time to evaluate and think about this being a widow, but he was relentless in securing my enrollment.Problem with Class low success rate Class Leader rude.

• Initial Complaint

  06/10/2023

  Complaint Type:

  Service or Repair Issues

  Status:

  Answered

  More info

  I have been receiving phone calls from Prosper Trading over the last few months. It's a company that has very, very little respect with whom they speak with on the phone. What happened yesterday, should not be tolerated.I don't know if I received the guy's name, but it was a salesman trying to get me to purchase a course. Being that I'm only somewhat interested in the course, I said that I don't want a hard pull and he said that it would only be a soft pull. I asked him multiple times too, as he proceeded with asking for my full social.The guy was very dishonest and did a hard pull. I'm starting to believe that it's a very toxic culture at Prosper Trading, since this isn't the only dishonest person there. I hope that Prosper Trading can remove the hard pull and provide disciplinary actions against the culprit.

  Business response

  06/13/2023

  In response to the customer Complaint sent on 6/10/2023 Prospers response is as follows:
  This potential customer must have forgotten that he inquired about financing his trading course. In order to provide him with the best possible service, he was sent a form asking him if wanted financing.  He checked a box on the form that he wanted to apply for credit. In response the finance company sent him a credit application. That is why the request for information was made.  PROSPER NEVER ASKS FOR THAT INFORMATION. The finance company which is not an entity controlled by Prosper requested the information in response to the customer's request about using financing. We can provide a copy of the document the customer signed if necessary. THERE IS NO SHADYBUSINESS!
  ****************************
  Counsel for Prosper Trading Academy

• Initial Complaint

  10/20/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  My name is ************************* and my Prosper Account # is *******. ********************************************* ********************** is a scam. On Februrary 23, 2022 I was called by a Prosper Trading Representative. He offered a guaranteed earning opportunity. He told me that Prosper Options Trading has a signals program where they give you winning trades that are guaranteed to be successful. He told me that the program costs $7,000. I told him that I can only afford to pay about $1,000. He then promised me that I only have to pay $1,200 now and and he guarantees me that the profit on the winning trades will be more than enough to but re asking for pay off the balance. I paid the $1,200 with my debit card on February 23, 2022. The trades actually lost money and as a result I was unable to make any future payments. Prosper Trading is threatening to come after me with an collection agency if I don't pay up immediately. They want me to pay the balance of $5,800 with an additional penalty of over $1,300 for missing the payments. There should be a class action lawsuit against Prosper Trading for misleading advertising and false claims. Attached is a number of other complaints that have been made against Prosper Trading (exhibit 1). The Federal Trade Commision has already taken action against another scam known as Online Trading Academy (OTA) and it may be time to look at Prosper Trading (Exhibit 2). I am not requesting a refund of the $1,200 I paid. I just want Prosper Trading to leave me alone and discontinue any collection actions against me.

  Customer response

  10/25/2022

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  *************************

• Initial Complaint

  10/07/2022

  Complaint Type:

  Product Issues

  Status:

  Answered

  More info

  I was contacted about stock trading that include options, Crypto currency and ***** stock trading. He stated that I can make lots of money trading these stocks, options and crypto currency. All he said sounds great for me and I asked him how can such be paid. He quoted some figures and I tried now to make copy of that document but was removed. I agreed on how to pay for the trading program and my first question to the person I was talking to was how long do I have to know if this was fit for me and ******************* told me that I have 90 days to try this. I then signed up and all necessary payment method was discussed and agreed. I have spent numerous time trying to study the program but was too complex. I initially complained and each time I complained they called me and tried to talk me over to hand in, then I decided from then to give it another trial. My first e-mail to cancel my membership was on 09/14/22 and immediately I received a call from their office persuading me that I will be coached on how to use the system that can help me . I waited again for another six days and no change. My second e-mail about cancelation was on 09/20/22 and same persuasion. I tried it again and finally requested to cancel the membership few days ago. I received many e-mails from different people from the office telling me that they cannot give refund which I disagreed with all of those e-mails. The last was from one *****************************. He did try to educated me how he was a lawyer and all sorts of nonsense which I was not interested and I told him that okay, since he is a lawyer he can represent Prosper but he cannot judge on the case. I am using this medium to resolve the issue and if such cannot as they are very persistence on not refunding money paid, the only choice is court action as Prosper has started showing how smart they were.

  Business response

  10/28/2022

  We are working with the customer resolve this matter. 

  Customer response

  11/01/2022

   
  Complaint: 18179694
  
  I am rejecting this response because:
  
  Sincerely,
  
  *************************** The business is not working with me to resolve the case. The business attorney was forcing me to withdraw the complaint as the only condition to refund the fund paid for this stock trading program or ask BBB not publish the complaint. I did ask the business to write to BBB and request them to ask me such information. It does not take months to refund all money paid and they should please stop withdrawing fund from my account.

   

  Thanks

  ********

  Business response

  11/18/2022

  In response to the complaint filed by *********************************** we offer the following.
  This student, who is a highly educated individual (claiming he is a pharmacist) stated that the course he purchased was either too complicated or he did not have time to work with it. When he purchased the course he was clearly advised that it would require work on his part. Apparently, he ignored this. Before purchasing, each prospective student is told verbally and advised in the contract he or she signs in prominent bold type that there are no refunds.
  
  Nonetheless,  Prosper offered him a full refund, but required him to sign a settlement agreement. He has refused to sign that agreement, so no refund, which we are not required to provide, will be given.
  
  Prosper has done everything to try to settle this matter, but the student refuses to settle it, notwithstanding the fact that he was offered a full refund.

  Customer response

  11/18/2022

   
  Complaint: 18179694
  
  I am rejecting this response because: This Trading company has a lawyer who asked me to remove the complaint I filed with BBB and sign an agreement before as a condition to refund the amount paid and such offer was refused. I will not sign any agreement to receive my refund for a program that I felt was not good for me and secondary there was never a time such condition was mentioned before joining the program. I did inform the Prosper attorney that he has every right to request BBB not to publish the complaint to the public as he requested from me as a condition to be met before refunding the fund to me. The lawyer was intimidating me and said that BBB cannot force them to refund the paid fund to me and I responded that all he said was clear to me and the matter continues. My goal is that Prosper cannot short me up because they have a lawyer who thing that he can intimidate me because of his legal profession. I will do everything within my ability for Prosper to refund this money and I will not sign any agreement to receive my refund and the case continues to next level. Prosper will be notified.  

    I thank BBB for their effort to resolve this matter unfortunately this Prosper trading company has met the wrong person to scam.

  Thanks
  
  Sincerely,
  
  ***************************

  Business response

  12/08/2022

  According to the documentation this student signed and what he was told verbally, there are no refunds. In sum, he is not entitled to a refund. Prosper does not have to give him a refund. Any refund is given based on Prosper's decision. Therefore, if he wants a refund he must negotiate it. He has been offered a full refund with conditions that are not onerous. If he does not want to agree to the terms, then he gets no refund, to which he is not entitled to anyway. A refund is an accommodation on Prosper's part not a right that the student has. 

  Customer response

  12/09/2022

   
  Complaint: 18179694
  
  I am rejecting this response because: This scamming stock trading company gave me a condition to meet before giving me a refund for a service that I was not comfortable to and no such condition was stated during the transaction. I was asked by their so called legal representative to remove the complaint filed with BBB or asked BBB not to publish the complaint and such condition was rejected because I would not have filed a complaint if they have agreed to refund my money. Before signing to this scam stock trading issue, I did ask how long do I have to know if this works for me and the person I spoke to told me 90 days . It was not the company so called legal person that I spoke to but another person. Therefore this company cannot scam me and get our with it. There is no where is American can you purchase this type of program and they state that you must not try it to know if such is okay with you and this leads us to another level which cannot be stated. 

    I have absolute respect to BBB and thanks them for their intervention on this false stock trading company.
  
  Sincerely,
  
  ***************************

• Initial Complaint

  07/21/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  I *********************** Prosper Options Trading is a scam. I believe he SOLD us a Defective Product with Misleading Advertising and False Claims. All of which could be actionable in a Class Action lawsuit. 1. The Guarantee is Fake. You executing 10 winning trades in 90 days is not a real guarantee to his customers 2. The spreadsheet you sent for ending *** was a Failure with more $ Losses than Gains.3. As discussed, No One can get into all Trades, even you said 60% TRIGGERERD TRADES and 40% NOT.) common sense would say about 25% of your Subs/Customers WINNING and 75% are LOSERS 4. Many of your Trade Alerts have been Counter-Intuitive to Market direction. (MMM, EA, CSCO, TWTR, ZIM, SNAP, RTX, )4. Flipping a Coin is not what I bought into. I have NO CONFIDENCE NOW 5. You've LOST so much CRED, I am positive you have a LOT of UNHAPPY Subscribers(50%? ( I Challenge you to TEST this with an Email asking your current subs from this promotion their Satisfaction LEVEL 6, Your $3000 is very HIGH for this service, therefore it has to work(and your system does not work as promised 7. Ive asked for and denied TRADE ALERTS should say FOR A WINNING TRADE OR LOSING TRADE OF X 7. This has been and is a serious Failure of Performance

  Customer response

  08/02/2022

   
  Better Business Bureau:
  
  I have reviewed the response made by the business in reference to complaint ID ********, and find that this resolution is satisfactory to me.
  
  Sincerely,
  
  *****************************

• Initial Complaint

  05/09/2022

  Complaint Type:

  Service or Repair Issues

  Status:

  Resolved

  More info

  They have been contacted to cease any further educational materials. The course is not very good as well as the instructors. They promised a group teaching experience when it is a self learning module. After my explaining my frustrations with their course, they changed my enrollment from Options trading to Stock trading.

*Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business. ↩