Larry Benedict claims to teach people a unique investment strategy which can secure their wealth for decades. How true are his claims?
Well, according to the Opportunistic Trader reviews I saw online, he is lying.
Many of his reviews say his $2000-$4000 product is a waste of time and money. Furthermore, they claim you will lose a lot of money following his advice so they don’t recommend him at all.
In my Larry Benedict review, I have shared those complaints below and how Larry has tackled them:
About Larry Benedict (The Opportunistic Trader):
Larry Benedict is the owner of The Opportunistic Trader, LLC. He has been running this firm since 2018.
Here, he claims to have created an interactive community for traders of all levels and asset classes. The Opportunistic Trader markets itself as a place where traders come together to discuss the markets and strategies.
Furthermore, The Opportunistic Trader claims to have traders with exceptional track records. In fact, they also claim to have traders featured in the “Market Wizards” series.
Before running The Opportunistic Trader, Larry Benedicte was the founder of Banyan Equity Management. He ran that firm for 18 years.
Prior to that, he used to work at Spear Leeds & Kellogg as a “Special Limited Partner”.
On paper, Larry seems like a seasoned trader with decades of industry experience. However, the various Larry Benedict reviews tell an entirely different story.
Many of the Larry Benedict reviews call him a scammer who doesn’t care about his students.
I have shared some of those reviews below:
Complaints Against Larry Benedict 2022:
Although Larry claims to have tons of industry experience, his reviews suggest he doesn’t use that experience to help his clients.
Instead, many of his clients say he is a fraud who uses misleading marketing to get your money.
That’s not all.
Many of Larry Benedict reviews indicate he exaggerates his skills and doesn’t have the expertise he claims to have.
That’s why I thought it was important to share some of those reviews here. Before you try out The Opportunistic Trader, it would be best to go through them:
“Larry Benedict is Not Credible”
Richard has given Larry 1 out of 5-stars in this review. He says people need to understand something about professional investors.
For example, Richard points out Larry claims he has managed $1 billion. However, that’s nothing, according to Richard.
He highlights that the firm which manages his money has over $5 billion under its management.
In fact, professionals like Ken Fisher manage over $10 billion.
Hence, relatively speaking, Richard says $1 billion is not a significant amount.
Furthermore, he highlights that hedge fund managers typically charge 2% of their investors’ assets each year. Also, they charge 20% of their investors’ profits.
Richard questions why would Larry Benedict leave such a lucrative field to sell a subscription service for peanuts. He says it doesn’t make sense.
To Richard it seems like Larry was only successful in the early years of his career. However, the way he pitches his service suggests to Richard that he hasn’t been much successful recently.
Richard advises others to avoid falling for Larry’s story.
Customer Lost a Lot of Money Following Larry’s Trades, Feels Scammed
Sidney points out he joined the investment group (The Opportunistic Trader) and paid $2000 for a year’s subscription.
Larry had promised to send vertical credit/debit spreads on SPX to him.
Also, he had promised a full refund credit to other subscriptions Omnia Research offers.
When he lost a lot of money on Larry Benedict’s trades, he canceled his subscription.
However, when he did, he found that he could only change his $2000 subscription for a “Jeff Clark GDX trading” program. This program only cost $29 and the rest of the cred was voided because Sidney could only use it once.
When the reviewer asked if he could rejoin by using the credit, they told him he had joined as a promo. So, joining now would cost him more and he would have to pay for the difference.
Sidney says Larry Benedict is a crook and a fraud.
Another Larry Benedict Review Calls Him a Scam
Here, the reviewer says Larry Benedict has created The Opportunistic Trader to scam others.
He says Larry makes you lose all of your funds on S&P 500 options. Also, the reviewer says their claim about “How to Retire with One Ticker” is a lie because you would end up losing all of your investment.
“The Opportunistic Trader is Dishonest. Beware!”
Damian says he bought The Opportunistic Trader’s subscription for $2000 with their 100% 30-day credit guarantee.
He tried to cancel his subscription after he suffered multiple heavy losses because of their recommendations.
Damian requested cancellation 3 times because they weren’t accepting it.
Then, Damian asked them to apply his credit to Jeff Clark’s ‘Delta Report’ as they had advertised, they said he needed to pay an extra $500.
Damian has been waiting for two months but hasn’t received the credit at all.
He says Larry Benedict’s firm stole his $2000 and they refuse to take any responsibility. Also, he calls it an “Absolute shonk of a business”.
According to Damian, authorities should investigate Larry for dishonest business practices.
“Larry Benedict is Useless”
The reviewer says he doesn’t recommend Larry Benedict at all. Although the firm claims Larry has tons of experience, it doesn’t seem like it to him.
That’s because you lose most of your money on average, according to the reviewer.
Also, the reviewer says Larry is useless probably because he can’t time his trades correctly or judge risk/reward properly.
According to the reviewer, Larry Benedict doesn’t educate his audience as well. In fact, the reviewer points out he doesn’t even send daily or weekly updates and makes excuses instead.
The reviewer also believes that Larry is the weakest trader in the industry. Hence, he warns other consumers that they will lose their money with him.
The reviewer didn’t find the customer service to be any useful either. He says you would only lose money with Larry and wouldn’t get decent customer service to fix any issues.
Opportunistic Trader Review Calls Larry A Scam
Here, the reviewer says he has been following the Opportunistic Trader’s recommendations for 6 months.
At the time of posting this review, his balance was -$1000. He says it was extremely disappointing because Larry had made some pretty big promises to potential subscribers.
Moreover, he has recorded all of his trades and sent them to the customer service. He requested a full refund as the program was quite expensive.
Later, they told him that they don’t issue refunds after 60 days. He says 60 days isn’t enough time to determine how good Larry Benedict’s trading average is.
Hence, he doesn’t recommend Larry and his subscription service.
Client Lost Over $10,000 With Larry Benedict
This reviewer says he has been following Larry Benedict’s recommendations for 10 months. Their balance is over $10,000 in the red.
Like the other Opportunistic Trader reviews I have shared here, this reviewer is disappointed as well.
He says he could have lost all this money by himself without paying for this “uselss service by a Market Wizard”.
Here, the reviewer says Larry is a phony.
He says Larry had made a lot of big promises but he delivered nothing. The reviewer says he lost more money following Larry’s recommendations than trading on his own.
That’s when the reviewer had bought the service thinking he didn’t know much about trading options and sought guidance.
Moreover, the reviewer says if you want to throw away some extra money, give it to charity, not Larry Benedict.
“I Feel Scammed”
Here, the reviewer says they feel scammed. They weren’t able to trade for months and only now are able to take advantage of their subscription.
The reviewer wasn’t able to trade spreads before so the subscription wasn’t helping them.
They called in early to complain about the deceptive practices of Opportunistic Trader. However, they weren’t able to get their $4,000 back.
Client Says The Opportunistic Trader is Horrible
Bret shares that the subscription was horrible from 2020 to 2022.
He points out the results in 2022 are a little better but he knows this only because he is stuck with a long-term subscription.
In his Larry Benedict review, Bret has given him 1 out of 5 stars.
Larry Benedict Turned My $53,000 into $1,600
Tyler says Larry’s suggestions turned his $53,000 portfolio into $1,600 within a few months.
He warns others that they shouldn’t make the mistake he made.
Tyler doesn’t recommend the service as well.
I must add that finding these Opportunistic Trader reviews wasn’t easy. That’s because they are buried deep.
Apparently, Larry uses various unethical marketing tactics to make sure people don’t find out these complaints.
Using Multiple Websites To Mislead Visitors:
When you’re skeptical about any finance guru you might look up their complaints first. This way, you can get an idea of whether they are legit or not.
However, when you look up “Larry Benedict Scam” or “The Opportunistic Trader scam”, you come across a bunch of similar websites:
More particularly, you’ll come across the following articles:
All of these websites have the same theme and format suggesting they might be operated by the firm.
Furthermore, all of these articles praise and promote Larry Benedict.
Clearly, a marketing team has put up these websites to distract consumers from the various reviews and complaints people have posted online.
Using fake reviews and unethical marketing tactics is rather common among online scammers.
For example, Chris Capre is a forex guru who has received numerous complaints for scamming his students. Many of his former students accuse him of posting fake reviews to enhance his brand.
Similarly, PointPay is a crypto scam which pays for positive reviews to bury consumer complaints.
It seems like Larry is following a similar tactic.
Larry Benedict makes several bold claims about his experience and expertise. However, the various reviews and complaints indicate he might not be as reliable as he claims to be.
You should be wary of “gurus” who claim to teach you a secret way to make money.
Judging from the reviews, people have lost more money with his guidance than they do while trading by themselves.
So, I personally don’t recommend Larry.
There are plenty of “fake gurus” who claim to be experts when they really aren’t. For example, Loral Langemeier recently received charges from the SEC for defrauding hundreds of consumers.
Hence, beware of such people.
According to multiple Larry Benedict reviews, this man is a scammer who makes false promises in his advertisements. You should avoid dealing with him and save your money.
- Received too many complaints
- Unethical marketing tactics