Larry Benedict – Fake Guru and Scam Burying Complaints Review 2023
Larry Benedict claims to teach people a unique investment strategy that 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. 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.
Before 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’s 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.
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 success 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. 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 of any use 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 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 “useless 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 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 can 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 that 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.
Larry uses various unethical marketing tactics to make sure people don’t find out about 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.
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 that 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 don’t recommend Larry.
There are plenty of “fake gurus” who claim to be experts when they 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
I’ve made money with Larry and I continue to make money with Larry. He knows what he’s talking about.
No complaints whatsoever.
He have no added value compare with any ordinary trader. He play like casino, no common sense, gain some, loose some, the looses are big really big in some cases. Sometime He picks in the worst timing ever, loosing all the money on the bet. His explication are empty words. do not touch is service.it is a trap you can never go back.
When I saw the situation I asked to stop it but he keeps smiling all the way to the bank.
Sometime he just buy naked option hoping for the best but obviously the worst happened.
Hello does anyone knows his email and his number
I too was about to buy Larry’s Subscription $29.00 today. But I decided to check him out. Well, what I read seems to be that to get tangled up with him would be a mistake. As they say.. where there is smoke, there is fire. Conclusion.. I rather not take that chance. There you go.. I just saved $29.00.. I’m happy with that.
29$ seems like a trap for what is coming, I have thousands of dollars for a 2 years subscription and 19$ retainer for whatever
1. the knives the negative reviewers throwing at larry all seem to come from folks who acknowledge they know very little about option trading and regarding the lack of customer service and response, everyone should know that Opportunistic Trader products are being promoted by a third-party ‘financial newsletter’ company that is, like the others in the industry, notorious for using misleading and hyped advertising. Shame on them.
BUT-for the many of those who have known Larry for decades (going back to his days as floor trader), and the many truly professional options traders who are fluent in the nuances of options trading and use Larry’s services, he has a solid reputation for being a very disciplined trader, and for being one of those with the unique ability to ‘read the tape’ while calculating in a menu of ‘indicators’that lead to his making a short-term trading call. P.S. Based on 5 years following his daily/weekly ‘calls’, his ‘hit rate’ (success rate) is better than 65%, which puts him into the top 1% of all traders The misguided criticisms i.e. “overhype” should be directed at the promotional company that creates the silly advertising content and administers subscriber issues such as refunds.
The guy with Ponzy schema was arrested after all. Why shouldnt he also?
Why wasn’t he prosecuted? And others also. They will get on with the frauds as long as nobody started the process against them.
I AGREE WITH MOST OF THE NEGATIVE REVIEWS. I have made a subscription few weeks ago and saw time after time loss on Larry Benedict casino.
There seems like pure roulette he is using options spread which are extremely dangerous and misses Tim’s after time.
His one ticker trade is the same he buys calls in a strange time , a day before major information by the FED, obviously you think that the “GURU” knows what he is doing, well think again, because the market goes against me an I have lost, the greatest amount in the shortest period of time. I wouldn’t write this if the customer service would have reply to me and elaborate or explain the rational of the trade, but they don’t reply at all,they are laughing all the way tothe bank
These guys are all the same, whether its Poulos, Benedict, Clark, they find out there is a boatload of money to be made by selling subscriptions, people are always greedy and looking for a fast buck. They don’t offer profitable results, they just take your subscription money, sometimes in the tens of thousanda of dollars. Is that a scam? probably just good salesmanship. Only the experienced and smart survive.
Hmm after reading the comments I’m confounded. Like to sign up for his articles for twenty bucks for a year doesn’t sound like a lot. The people that said they lost 15000 or more trading based on larrys recommendations seems self inflicted! Like why would you gamble that much? Options are way more risky then other types of financial instruments. A logical approach would be to spend twenty bucks and read his stuff and follow his recommendations. Like watch them or setup a free account trading them using fake tokens not real money. Or spend a hundred bucks or a low amount. Like why would you spend a lot of money following someones recommendations? You should watch their recommendations and see how they go and tip you toe in the water. It’s just larry. Have you watched cnn, msnbc, etc all saying buy bitcoin. How many millions of americans lost a crap ton of money listening to the crowd. It’s sad that the bitcoin scammers never went to prison cause they stole or had people waste way more money then larry did. When someone tells you to mortgage your house to buy bitcoin they probably should go to prison.
But for everyone here that lost 10000 plus trading options that’s not bad. Maybe it’ll force you to reevaluate things. You probably should take a technical traders course or read a book. A lot of traders I’ve listened to say they lost a lot of money before they got decent returns which is why buying a course to learn is worthwhile. Obviously larrys course seems not to do technical trading analysis just recommendations and some articles, but honestly it’s shocking so many people bet so much on the words of larry. Like wall street was bailed out in 2008, 1998 for LTC etc. They don’t have the best track record especially now with super high valuations still inflated. It’d probably be best if people sat in cash or bought long dated bonds and waited for the recession or whenever the fed pivots and slashes rates and then get back into the market.
most online sites are like this, i was about to sub for this Larry lairs I’m glad i had to check for reviews first, i lost $10000 to similar scam called IPC early this year cause i ignored all the red flags and compliments i saw online never again .. thank you for the review, the ads looks too scripted
People these days love things with money and use people instead of using things, taking advantage of people investing in something that will create more value for you. Eventually, these gurus will feel Karma.
I am baffled at how this scammer is promoting himself and targeting more people. I have been a victim of a similar scam… It’s devastating to say the least.
I have worked in sales for a couple of years. I can’t tell you how many people in that field only care about themselves. They essentially love and push you to be a scumbag and this business has a decent reach online.Incredible. Larry’s poor tactics reminds of some of those horrible salesmen I used to work with.
We have too many fools looking for magic pills and saviors and scammers like Larry Benedict capitalise on that. Those people become easy prey always and get the opposite of what they were looking for. Many never learn and people like Larry take advantage of that.
LARRY BENEDICT IS A FAKE GURU!
I followed his recommendations and lost $4000 within a few weeks. There is no way I would ever recommend him. You don’t get refunds and you don’t get any valuable recommendations from this scammer. he relies on ads and manipulative statements to get you to sign up. Please don’t. You would be better off spending that money on a Udemy course or something. At least those guys teach you something. This man doesn’t teach you anything and his recommendations seem delusional because they never work.
I am not rich because I am not good at investing so I was interested in the opportunistic trader. Glad I looked him up before spending my money.
Larry Benedict scammed me last year. I saw his ad on YouTube and couldn’t believe he is still running this scam!
His terrible recommendations made me lose $15000 in the market.
Agree and disagree with this point of you. Yes there’s a bunch of Guru out there but when it talks about books and content the accumulation of new ideas is what grows an individual and probably would prove himself may be that one book was the source of 300% Return or maybe not but at least it was Movement in the right direction. You aren’t necessarily going to get rich by buying one of these programs not necessarily, but an accumulation of new data will be lead to a paradigm shift for you which can indeed lead to returns like that or more. It worked for me and I know many others in the same boat.
thank you for your service to the investing community. larry benedict’s ” interview” by opportunistic trader staff sounded too scripted. the email address used to promote larry’s subscription offer is a non-monitored site and so my emails to them were not answered. that even made me more suspicious. so i tried to look for reviews. and as some have noted, several sites gave his service glowing reports. but since they featured the same pictures and spiel, i immediately ajudged them to be fake reviews.
it is helpful that you shared reviews by actual subscribers. bless you for your help.
The promise of great wealth And overnight success without work for sacrifice is what attracts so many people like Lambs to the slaughter it is refreshing to hear people tell it straight. I am sure they are tough negotiators and use the eight of their financial Empire to their advantage but it sounds like these are men of principle and ethics their businesses are making money but they also share long-term goals and it appears to me that they both Excel at reading people and understand human nature, unfortunately, their profession attract some of the evilest greedy least ethical most narcissistic people alive.
Almost bought the subscription! You Sir has saved lots of my hard earned money
Thank you for this review I have seen his ads yesterday on YouTube and I wanted to subscribe to his one ticker trader today. But before buying I decided to find out his profile on Twitter and didn’t find anything so I decided to search for him on google and just find out your review. Thanks, for the review, and for the ones who read my review just how can I learn to trade options and get recommendations without getting scammed?