Larry Benedict, the self-proclaimed financial expert and founder of The Opportunistic Trader, promises to teach individuals a foolproof investment strategy that guarantees long-term wealth. But is his advice really worth the hefty price tag?
A deep dive into customer reviews and feedback paints a troubling picture of misleading marketing, unfulfilled promises, and significant financial losses for many who followed Benedict’s advice.
Who Is Larry Benedict and What Does He Offer?
Larry Benedict is the founder and owner of The Opportunistic Trader, a trading platform that claims to offer an interactive community for traders of all levels. Since launching in 2018, the site has marketed itself as a resource for novice and seasoned investors alike, providing strategies for success in various asset classes. The platform promises to deliver expert-level trading advice, with some of its supposed members even claiming to have been featured in the renowned Market Wizards series.
Before starting The Opportunistic Trader, Benedict had a lengthy career in finance, with stints at Banyan Equity Management and Spear Leeds & Kellogg. On paper, Benedict seems like a seasoned expert in the industry, but the reality of his track record is far more controversial.
The Complaints Against Larry Benedict
Despite his professional background and impressive credentials, Larry Benedict reviews from actual customers tell a very different story. Many claim that his services are little more than a scam designed to take money from unsuspecting traders. Let’s explore some of the most common complaints:
1. Exaggerated Claims and Unfulfilled Promises
Several reviews of The Opportunistic Trader accuse Larry Benedict of vastly overstating his own success and the effectiveness of his strategies. Customers have shared their frustrations with paying thousands of dollars for access to The Opportunistic Trader’s subscription, only to find that the advice they received resulted in significant losses. Some users have even questioned why someone with his alleged financial expertise would shift to selling a relatively inexpensive trading service, rather than continuing to work with large funds or hedge funds.
2. Disastrous Financial Outcomes
Multiple reviews describe how subscribers lost money following Benedict’s advice. One reviewer named Sidney, who paid $2,000 for a year’s subscription, reported losing a significant amount of money after following Benedict’s trades. When Sidney attempted to cancel his subscription, he discovered that the company offered little recourse. He was given the option to use a credit toward another low-cost program instead, and his original $2,000 investment was essentially rendered useless.
Another reviewer, Damian, shared a similar experience after subscribing to the platform. Despite the promise of a 100% refund guarantee if unsatisfied, Damian was unable to reclaim his funds after requesting a cancellation multiple times. To make matters worse, when he tried to apply his credit toward another service, he was told he would have to pay extra to make the switch.
3. False Advertising and Deceptive Marketing
Larry Benedict’s firm has been accused of misleading customers through aggressive marketing tactics. Some subscribers note that they were promised comprehensive training on strategies like vertical credit/debit spreads for SPX options but received nothing more than generic advice. Others claim that after paying for The Opportunistic Trader’s service, they were not provided with any meaningful updates, trade insights, or educational resources.
In addition, many online reviews reveal that The Opportunistic Trader’s marketing team works overtime to suppress negative feedback. Several complainants have noted that the firm uses fake reviews and paid promotional websites to drown out genuine customer complaints. These sites often contain glowing reviews and positive press to distract from the growing number of disappointed clients.
4. A History of Unfulfilled Refund Promises
A consistent theme in the reviews is the company’s failure to honor refund guarantees. Even though Benedict’s service promises a 30-day, 100% satisfaction guarantee, many customers report that they were unable to claim their refunds. This has led some individuals to feel completely scammed, as they were left with no recourse after losing large sums of money on The Opportunistic Trader’s advice.
5. Unethical Business Practices
Some reviews of Larry Benedict suggest that his business practices are not only misleading but potentially illegal. One reviewer described how they watched their $53,000 investment portfolio plummet to just $1,600 after following Benedict’s trades for several months. In cases like this, customers are left feeling cheated and betrayed, with no meaningful assistance from customer service when they sought help.
The Bigger Picture: How Larry Benedict Misleads His Audience
It’s clear from numerous complaints that Larry Benedict is more focused on profiting from his subscription service than genuinely helping his clients. His marketing emphasizes promises of lucrative returns and insider knowledge, but the reality for most subscribers is dismal losses and unanswered requests for assistance.
To further discredit Benedict, some experts have pointed out that he has resorted to unethical marketing tactics to bury negative reviews and amplify positive ones, using fake review sites and exaggerated testimonials to bolster his reputation.
Is Larry Benedict a Scam?
Based on the overwhelming number of negative reviews and complaints, it’s safe to say that Larry Benedict’s claims of being a trading expert are highly questionable. While he promotes himself as an experienced trader with valuable strategies, the majority of The Opportunistic Trader reviews suggest otherwise. From exaggerated marketing claims to the actual financial losses experienced by his clients, Benedict’s reputation as a “fake guru” appears well-earned.
Verdict: Larry Benedict and his platform, The Opportunistic Trader, have been exposed as unreliable and dishonest. The financial losses reported by users and the deceptive marketing practices employed by the company indicate that he is not the expert he claims to be. If you are looking to learn genuine investment strategies or grow your wealth through trading, it is highly advisable to look elsewhere.
Final Recommendation
Avoid The Opportunistic Trader and any services offered by Larry Benedict. With multiple reports of clients losing money and being misled, investing with him is a risky endeavor. There are plenty of other reputable financial advisors and trading experts who offer legitimate services with verifiable results. Stay informed, do your research, and don’t fall victim to another fake guru promising easy wealth.
