Prosperi Academy Explained: My Review
Prosperi Academy is an investment learning platform that teaches investment concepts through online courses and a real-world trading simulator.
It has been getting a lot of attention online lately so you might be curious what it is all about before you get into it.
In this article, I will walk you through how Prosperi Academy works so that you can decide whether it is an app worth looking into.
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Key Points & Takeaways
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What is Prosperi Academy?
Prosperi Academy is an investment learning platform dedicated to teach you how to invest your money wisely. Unlike many investing apps that focus on trading and brokerage services, Prosperi Academy is dedicated to education.
It has courses that break down complex investment concepts into lessons that you can follow at your own pace.
With over 20 hours of content, you can dive into a variety of investment topics. Prosperi Academy has you covered whether you're interested in investing in stocks and cryptocurrencies, understanding how brokers work, exploring different investment strategies, or learning how stock markets operate.
Prosperi Academy has a real-world trading simulator. This allows you to practice the investment and trading strategies you learn without risking any real money. It's a safe space to apply what you've learned and see how different strategies play out in a simulated market environment.
The curriculum covers diverse areas such as stock markets, options trading, and generating passive income streams.
Additionally, when you join Prosperi Academy, you're assigned a mentor. This mentor can provide guidance, answer your questions, and help you navigate your learning journey. Having a mentor ensures that you're not learning in isolation and can get personalized support when needed.
However, the platform doesn't offer brokerage services, meaning you can't execute real trades within the app. To invest actual money, you'll need to open a brokerage account elsewhere.
Moreover, Prosperi Academy does not provide investment advice. If you're looking for stock picks or personalized portfolio suggestions, you'll need to find that information from other sources.
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How Does Prosperi Academy Work?
As I've said, Prosperi Academy is an investment learning platform to provide engaging online courses for beginner and experienced investors.
When you sign up for it, you can start off by learning the basics of trading before going on to explore different investment strategies. The courses are relatively interactive and they break down complex financial topics (if you are a beginner who's new to this) into simple, easy-to-understand concepts.
Once you are well-versed in the fundamental investment principles, you can move on to the more complex stuff. They say that this training will enable you to get into financial markets confidently.
Prosperi Academy claims that their curriculum was designed by expert industry instructors but from what I have seen, they walk you through the basics, something that you can find online with ease.
There are courses covering investment topics such as market trends, diversified portfolios, and risk management.
Since the courses are on an app, you can take them at your own pace because you can access the educational resources anytime you want
.
For each lesson you complete, you get virtual coins that you can then use in the investment simulator.
Real world trading simulator
You can apply your newly acquired knowledge with Prosperi Academy’s real-world trading simulator. This feature allows you to trade stocks and securities in a risk-free environment.
It is their version of paper trading.
The Investment Simulator has real-time stock and crypto prices and they provide you with this data so that you can use it to analyze the trades.
The simulator mirrors live market conditions. This means that whether you are an active trader or a beginner, you benefit from practicing strategies before applying them in actual markets.
When you practice trading in a safe environment, you can build confidence and refine your decision-making skills, which will prepare you for the high-pressure that comes with trading with your actual money.
Available on both iOS and Android apps, this hands-on approach supplements theoretical learning.
AI Chatbot Instructor
There is an AI mentor (basically a chatbot) that you can ask questions regarding your investments.
Prosperi Academy is a bit misguiding in its marketing because it calls this an expert industry instructor but you won't actually be talking to an instructor.
You will be conversing with an AI-powered chatbot.
There's nothing special about the chatbot if I'm honest. It does the usual thing's you'd expect of a modern AI chatbot because it simplifies complex concepts with its explanations.
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Joining Prosperi Academy
The process of joining prosperi academy is one where they ask you many questions concerning your personal information, your financial situation, and your financial goals.
For example, they start by asking about your gender before asking you about your age.
Then there are your financial goals ranging from growing wealth to financial independence.
They use your answers to recommend you a course but that won't stop you from doing any course you like on their platform.
The subscription fee is between $10-$40 to access and use the platform. That means:
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Prosperi Academy Reviews and Feedback
If you visit third-party review sites, you'll find most of them with thousands of positive reviews.
There are users who praise the platform for its practical approach to investment learning but others have noted a few areas where improvements could be made.
Prosperi Academy has received a mix of positive and negative reviews from its users. Some love the platform, while others have found room for improvement.
Let's take a look at what some of the people said about it on different review sites:
Trustpilot
Prosperi Academy has a 4,4 out of 5 star review here with over 17,000 reviews. Over 60% of them are 5 star reviews.
Prosperi Academy has received glowing reviews from many users who highlight its effectiveness in teaching financial literacy and investment strategies. Here’s what some of the users have to say:
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But there was a negative experience by Sophia, who highlighted a persistent theme that I saw in other reviews on other platforms: Prosperi Academy has problems with refunding people their money.
Sophia felt cheated by the subscription process. She struggled with payment issues and received no response from customer service regarding her refund request. She warns potential users about the academy's lack of responsiveness and suggests it may be a scam.
Reviews.io
Prosperi Academy boasts a strong 4.5 out of 5 stars on Reviews.io, indicating an overwhelmingly positive reception from its users.
People praise Prosperi for its high-quality educational content, particularly for beginners, making it a solid choice for those new to the subject matter it covers.
However, there are some notable exceptions because they are scathing in their dislike for how Prosperi handled their refunds. Here is one from S.In**** caught my eye:
Prosperi is a good learning tool for basics. If you have some knowledge, you will still have to go through beginning lessons and watch all the videos, which are really good. This means you have to pay for lessons that do not help you grow in the knowledge you were seeking. There is no way to advance other than to go through each lesson as it is served. Like many subscription services, Prosperi is set up to make sure they get one more payment before you can cancel unless you are extremely vigilant. There is no renewal notification, and billing dates are subject to change without notice. They require 30 days notice prior to the billing date. Customer service is by Bot obviously since they answered my request to cancel and stop the billing charge in less than 5 minutes. So...buyer beware and check your trials often!
Another user, (Eloi Me****) reiterated this point about problems with cancellation, making it a worrying trend:
I paid one month of subscription and without my permission they took double amount of the second month subscription from my bank account. I send them a message, and they replied, telling that will refund the amount and close the account and after some time they sent me a new message apologizing that they cannot return the money to my account. So in Short word if they are not honest in their words, it's bad very bad. I got with them a very big deception. They bild this plateforme forme " académie" not to teach people but only for money.
Again, I should emphasize that the majority of the reviews are positive but these ones are not a good look for the company.
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Better Business Bureau (BBB)
BBB is the only platform where there is a unanimously bad review of Prosperi Academy. I don't know why this is the case but it does make for some interesting observations.
One user called Lori S says:
Wish I would have read reviews before signing up. Was told this was an investment system where I could purchase stocks and get tips on investing. After purchasing found out the money I paid did not go towards investments and only a learning tool. Cancellation process is a nightmare and they refuse to refund me. I contacted customer service and asked to speak with management 6 times and they refuse and provide generic responses. They also refuse to give me address and phone number. Beware! Deceptive practices.
To be fair to Prosperi Academy, they replied to the complaint but I am not sure that the issue was resolved because that's as far as that thread goes:
Generally, BBB reviews blame Prosperi Academy for refusing to refund their money after cancellation. This is pretty much uniform across all the platforms when it comes to customer reviews.
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Is Prosperi Academy Buying Reviews
As I was going through people's reviews online, I couldn't help but notice that some reviews were duplicated across multiple review sites. And in some cases, they were duplicated on a single site (yikes!)
For example, take a look at this reviewer on both Trustpilot and Reviews.io.
Here it is on Trustpilot:
And here it is on Reviews.io
Mind you, I saw this review show up twice on Reviews.io.
Coincidence? Perhaps. But that's too close for comfort in my opinion.
It's never a good sign when you see such malpractice because we all know that companies buy reviews to enhance their reputations unfairly.
I am not accusing Prosperi Academy of buying reviews but the coincidences left a sour taste in my mouth.
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Pros of Prosperi Academy
Prompt customer service team
The customer service team at Prosperi Academy responds quickly to inquiries and concerns (because they use an AI chatbot). If you contact them via email or the built-in chat feature on the web-based platform. They guide you on course selections, technical issues, and general queries.
User-friendly interface
Navigating Prosperi Academy is easy, thanks to its user-friendly interface. The web-based platform features clear menus and straightforward instructions, making it simple for anyone to use.
You can quickly find courses or access the real-world trading simulator with just a few clicks.
The ios app version mirrors the same ease of use, ensuring that learners on mobile devices have an equally smooth experience. Whether accessing materials from a computer or smartphone, users benefit from seamless functionality across all devices.
This is no surprise given that they have a 4.7 star rating (out of 5) with over 21,000 reviews.
Available on iOS and Android (planned)
Prosperi Academy is available on iOS devices with an Android version planned for release in late 2024. This flexibility means you can learn about investments or practice trading no matter where you are
The mobile apps feature all the same tools as the web-based platform, ensuring seamless transitions between your phone and computer. With these accessible options, staying connected to your investment education is easier.
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Affordable subscription fee
Prosperi Academy offers a monthly subscription that won't break the bank. The affordable fee allows access to high-quality educational content without the hefty price tag often associated with investment platforms.
This reasonable cost ensures learners from all backgrounds can build their financial knowledge and skills. It could be a long-term bargain if it helps you avoid costly investing mistakes.
With membership options designed to fit various budgets, more people can embark on their learning journey without worrying about finances.
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The Downsides of Prosperi Academy
Poor Course Structure
One major critique is the lack of flexibility in the course progression. Even if you already have some knowledge, you must still complete all the beginner lessons, which might not contribute to your learning objectives but will still incur costs.
Difficulties with Cancellation
Another significant issue raised by users involves the subscription and billing practices. Several reviewers have complained about unexpected charges and difficulties with the cancellation process.
Prosperi Academy requires a 30-day notice before the billing date for cancellations, and some users have found the customer service, primarily handled by bots, to be unhelpful and unresponsive. Additionally, there have been instances where users were promised refunds that were not delivered.
Subscriptions Automatically Renew
Prosperi Academy’s subscriptions automatically renew unless cancelled. Although the cancellation process is straightforward through both the app and website, it’s easy to forget. This has led to some negative feedback, as many users find it difficult to determine when their subscription will renew and how much the renewal will cost.
No Android App
While Prosperi Academy offers an iOS app, it currently lacks an Android version. They plan to release an Android app in the first half of 2024. Meanwhile, users can access the platform via a web-based interface that doesn't require an Apple device.
The course is not interactive
The content you get is generally more like articles and not fully functional and interactive courses. You interact with a bot, not a tutor.
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Is Prosperi Academy legit?
Yes, Prosperi Academy is legit. From what I've gathered, Prosperi Academy seems to be a legitimate platform focused on investment education, providing comprehensive courses and a real-world trading simulator to practice investment strategies without financial risk. The platform's design is user-friendly, with accessible content that can be beneficial for both beginners and more experienced investors.
However, there are some concerns that you should be aware of. Many users have reported issues with the subscription and cancellation process, often finding it difficult to cancel or receive refunds.
Additionally, while the content is educational, some users feel that the course progression lacks flexibility and that the AI chatbot is somewhat misleadingly marketed as an expert instructor. Despite these concerns, the overall feedback is predominantly positive, highlighting the platform’s effectiveness in teaching financial literacy and investment strategies.
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Verdict on ProsPeri Academy
Prosperi Academy provides a platform for learning investment principles and strategies. With a curriculum designed by industry experts, over 20 hours of content, and a real-world trading simulator, it offers a decent educational experience.
However, there are some drawbacks to consider. The rigidity of the course structure can be frustrating for those with prior knowledge, as you must go through beginner lessons before accessing more advanced topics. Additionally, the platform has faced criticism for its subscription and billing practices, particularly regarding unexpected charges and difficulties with cancellation and refunds. The absence of an Android app (until its expected release in late 2024) also limits accessibility for some users.
While many users praise Prosperi Academy for its practical approach to investment education, there are notable concerns about customer service and the authenticity of some reviews. These issues suggest that potential users should proceed with caution, particularly when it comes to managing subscriptions and understanding the platform's limitations.
Ultimately, Prosperi Academy can be a valuable tool for those starting their investment journey or looking to solidify their understanding of financial markets. If you're willing to navigate its subscription model and carefully manage your usage, it can offer substantial benefits in building your financial knowledge and confidence in trading.
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