Are you looking for an IM Mastery Academy review? Is IM Mastery Academy a scam?
Perhaps you’ve heard of iMarketsLive before? It’s not surprising because this company used to be called iMarketsLive before it became IM Mastery Academy.
Their branding name changed during their last convention that took place in Dallas on September 14-15th, 2019. Additionally, they added new features to their trading program.
Trading is tough work that not everyone can do. Traders must possess a compelling mind if they are to succeed. IM Mastery Academy claims to provide tools and training to help traders make more money.
I have a passion to help people explore the best money-making opportunities online, so over the years, I have reviewed hundreds of similar online programs like IM Mastery Academy.
In the past week, I have done thorough research about the IM Mastery Academy, so I can tell you everything you need to know about it.
As a disclaimer, I’m not affiliated with IM Mastery Academy, which means I’m not paid to write this review for IM Mastery Academy. So you can be sure that my words are unbiased.
In this IM Mastery Academy review, I’m going to cover the following in this review:
What Is IM Mastery Academy?
The IM Mastery Academy provides training and tools for people to become successful Forex traders.
However, once I began to research this company, I discovered that it is a MLM/pyramid scheme company that is all about recruiting people.
Pyramid schemes and multi-level marketing have very little in common.
There is no product or service to offer in a pyramid scheme; it focuses solely on recruiting new members into a downline. Multi-level marketing, in contrast, offers both products and services.
Out of those two, MLM is a legitimate business and pyramid schemes are scams. Don’t confuse them with affiliate marketing.
There is no downline in affiliate marketing and it is a completely legal and profitable business model.
Although IM Mastery Academy offers Forex education and tools, I am unable to escape all those negative reviews about them.
It would be a good idea to look into the company’s background before joining IM Mastery Academy.
Actually, the previous name of IM Mastery Academy is iMarkets Live. Over the years, iMarkets Live has gained a bad reputation so they decided to rebrand the whole thing to get a “clean slate.”
Who is the Creator of IM Mastery Academy?
Christopher Terry founded IM Mastery Academy.
Upon researching him, I was surprised to find that there is little information about him, not even a Wikipedia entry. When something new comes out, we know it won’t take long before a wiki page appears. But I can’t find anything there about Christopher Terry.
Luckily, I found several public domain sources indicating that Christopher worked in construction. In other words, he was just a regular Joe.
One day, he discovered Forex and pursued a career in this field. He took a few years to earn enough money to quit his job and devote his full attention to Forex as usual.
Apparently, after a couple of years of working in Forex, he decided to teach what he had learned to others. Since 2001, he has been speaking at conferences and for small groups interested in trading.
iMarketsLive was founded by him in 2013. I have found no information about why he started this company, but my question is: if he has already been teaching his knowledge since 2001, why create an MLM company? To earn more money, of course. Why MLM? Perhaps to make even more money?
Moreover, I learned recently that he holds live conferences on Sunday nights each week. Being active in the company and showing he cares is an excellent thing for the founder to do.
Generally speaking, his background appears to be one of a normal person who decided to start an MLM because he saw the benefits of it. There are no indications that Christopher Terry is a criminal or a crook.
What’s Inside IM Mastery Academy?
IM Mastery Academy only changed its name to iMarketsLive, so all the tools it offered were retained, as well as a few new ones.
I will take a closer look at the tools that are available inside IM Mastery Academy.
Tools Offered by IM Mastery Academy
First, let’s look at Delorean. “An algorithm that puts you in the right place at the right time with hundreds of market opportunities to help you find your own style.”
I understand that this tool helps you discover the different strategies to use and choose one that fits your needs. As an add-on, it costs $21.95.
This tool searches for long-term, swing trade ideas that you can set and forget. If you don’t feel like trading every day or every hour, this tool could be helpful. However, it costs $21.95 as an add-on.
“This tool provides multiple strategies that find trade ideas – no analysis necessary on your part.”
They said it. For $9.95, it is available as an add-on.
An algorithm that identifies entry points, stop losses, and take profits one level at a time in the markets. Available as an add-on for $21.95.
”This is a combination of strategies that correlate with one another and look for high probability trade ideas.” It costs $21.95 as an additional feature.
”This tool will help you find and identify the best entry points into the market.” It costs $21.95 as an add-on.
”This algorithm simplifies the process of finding market opportunities by identifying key reversal zones on multiple timeframes.” It costs $21.95 as an add-on.
Useful tool for finding high-speed trade ideas for Binary Options. The add-on costs $21.95 per month.
These tools are all interesting, but some of them seem redundant.
What’s the IM Master Academy Compensation Plan?
As mentioned earlier, IM Master Academy is an MLM company. So how will you be compensated to recruit people into the scheme?
You will need to join IM Master Academy as an affiliate member in order to make money.
You can make money at IM Master Academy by:
- Residual commissions
- Recruitment commissions
- Bonuses correlated with promotion and sales
These commissions are based on the rank of the team member and the number of people they recruit under the team.
IM Mastery Academy’s Affiliate program has the following ranks and qualifications:
- The Platinum 150 Rank – Generate at least 435 GV (group volume) monthly and maintain a downline team of at least 3 subscribers.
- The Platinum 600 Rank – Generate at least 1740 GV monthly and maintain a downline team of at least 12 subscribers.
- The Platinum 1000 Rank – Generate at least 4350 GV monthly and maintain a downline team of at least 30 subscribers.
- The Platinum 2000 Rank – Generate at least 10,875 GV monthly and maintain a downline team of at least 75 subscribers.
- The Platinum 5000 Rank – Generate at least 32,625 GV monthly and maintain a downline team of at least 225 subscribers.
- The Chairman 10 Rank – Generate at least 72,500 GV monthly and maintain a downline team of at least 500 subscribers.
- The Chairman 25 Rank – Generate at least 181,250 GV monthly and maintain a downline team of at least 1250 subscribers.
- The Chairman 50 Rank – Generate at least 362,500 GV monthly and maintain a downline team of at least 2500 subscribers.
- The Chairman 100 Rank – Generate at least 725,000 GV monthly and maintain a downline team of at least 5000 subscribers.
- Chairman 250 Rank – Generate at least 2,175,000 GV monthly and maintain a downline team of at least 15,000 subscribers.
- The Chairman 500 Rank – Generate 3,350,000 GV monthly and maintain a downline team of at least 30,000 subscribers.
A qualifying subscriber must buy the company’s package and cannot be a retail customer, an affiliate member, or any combination of the two. A single unilevel downline can only have 40% of the qualifying volume.
Fast Start Referral Commission
Affiliate sales and retail sales are the foundation of IM Master Academy’s compensation plan.
You can also earn money from the company’s fast start commissions on two more levels, which are tracked and paid to you using the unilevel compensation plan.
Every time you get promoted, you’ll get a bonus. The more people you recruit and the more sales you make, the higher your rank and the higher your bonuses will be.
IM Mastery Academy Pricing
If you’re looking for a price package, IM Mastery Academy has several options. There are separate courses available.
You can also purchase all of them in one package, which significantly lowers the price.
Here are the prices of IM Mastery Academy Programs:
- FRX Academy $234.95 enrollment + $174.95 monthly
- HFX Academy $234.95 enrollment + $174.95 monthly
- DCX Academy $234.95 enrollment + $174.95 monthly
- Elite Academy (FRX, HFX, DCX bundle) $324.94 enrollment + $274.95 monthly
I think this is a lot of money for online courses. I have seen high-quality courses online that cost far less. There are even free courses you can take online.
It doesn’t make sense to me why I would pay so much money to learn about forex. According to my observations, the prices are high due to the MLM aspect of the platform.
If you want to get access to the tools and strategies, you have to pay more as below:
- Harmonics $21.95
- SwipeTraders $21.95
- SwipeCoin $21.95
- Vibrata $9.95
- GoldCup $21.95
- Levels $21.95
- Pivots $21.95
- Liberty $21.95
- Steady $21.95
- Delorean $21.95
- BounceBack $21.95
It’s claimed that you can use each of these strategies and tools to take your trading to the next level.
Nevertheless, the whole scheme seems overpriced to me at the end of the day. So I don’t recommend IM Mastery Academy to anyone who wants to improve trading performance.
How Can You Make Money With IM Mastery Academy?
First and foremost, IM Mastery Academy teaches you how to trade forex. In other words, you can make money by buying and selling currencies.
It appears that a lot of reviews indicate that there’s a strong emphasis inside the members’ area on recruiting every new customer to become a sales representative as well.
The owner of IM Mastery Academy understands that there is much more money in MLM.
Therefore, the concept is simple. When you become a member, you have access to promotional tools, links, resources, etc.
Then you can use them to recruit new members. Your downline grows with every new recruit.
Then you create a new level below you every time your first tier recruits someone. You can create multiple levels below you.
It’s easy to see why this model is called a pyramid scheme when you picture it in this way.
Since IM Mastery Academy offers products, it’s not technically a pyramid scheme. It’s a multilevel marketing company. Authorities do not differentiate between the two.
Regarding how you can make money with IM Mastery Academy, you will receive a commission each time you recruit a new customer based on the agreement between you and IM Mastery Academy.
You also get paid for each paying customer your referrals bring in as they follow the same path.
As you can see, MLM offers a huge earning potential, especially if the compensation plan is generous.
However, please be reminded that only about 2% of people who join various MLMs and pyramid schemes make any money.
IM Mastery Academy requires a lot of marketing skills for you to earn money.
IM Mastery Academy Pros
1. Having a decent compensation plan
IM Master Academy has a decent compensation plan to generate a profit. It’s possible for you to make a thousand dollars a year. It is actually better than most MLM companies.
Additionally, you can also earn income by trading forex.
2. Product Quality Has Improved
IMarketsLive’s products have been improved by IM Master Academy.
Affiliates should find the tools comprehensive enough to get a competitive start in trading.
IM Mastery Academy Cons and Complaints
1. Forex Is Complicated
Forex trading is a complicated way to earn money online, as we all know. Even if you have completed training courses, it doesn’t mean you will be able to make money.
The promise is that you can earn lucrative profits by doing it right if you know the right way to do it. Unfortunately, success is not always guaranteed.
2. Not Many People Are Interested in Forex Trading
Forex is not for everyone, as I said. So it will be challenging to market to people who are not interested in Forex Trading since you will have to appeal to them.
3. MLM Pressure
It’s not to scorn MLMs, but being an MLM is already a challenge since you’ll be required to recruit and also encourage your downlines to do well in sales and recruiting to increase your rank and earn more money.
I personally don’t like to be involved in an MLM model as it looks very scammy.
4. There are Many Bad Reviews Online About IM Mastery Academy
When I search on Trustpilot, I found so many bad reviews about IM Mastery Academy. You should read this before joining:
Who Is IM Mastery Academy For?
Intended for people who want to learn how to trade on the Forex Market, IM Mastery Academy is a technical trading academy.
In the top sections of the site, you can see that the company offers training programs and tools to help with this.
It’s also an opportunity for marketers because it’s an MLM that focuses on recruiting members for earning commissions. But again, only very few people succeed in doing this.
IM Mastery Academy Positive and Negative Feedbacks by Real Users
IM Mastery Academy Positive Feedbacks
- You can learn how to trade from many professional traders through live webinars
- With the compensation plan, residual income is paid weekly
- Provides tools and education
- Live webinars and events
IM Mastery Academy Negative Feedbacks
- IM Mastery Academy is very expensive
- The business model of IM Mastery Academy is multilevel marketing, which makes it very scammy
- Many tools appear to offer the same thing, so be aware of that to avoid paying twice
- Forex is not the best place to learn how to trade
- More than 30% of online reviews are negative
- With only IM Mastery Academy courses, it is very difficult to become a successful trader.
Is IM Mastery Academy a Scam?
As an MLM company, we might be tempted to consider IM Mastery Academy a scam immediately, but this conclusion might not be very accurate. There is a simple reason; they have legitimate products, which are the trading courses.
However, authorities like the FTC also consider MLMs to be scams. Accordingly, IM Mastery Academy is technically a scam, since their business is based on recruiting new members and building downlines.
To become a trader, you can subscribe as a customer and buy their trading tools and courses.
Their first goal is to sell courses, so if you’re interested in learning more about trading, you can join. The best part is that you can give it a try for one month and then leave if you don’t like it.
There isn’t much information available about Christopher Terry, but he seems like a dedicated individual who wants members to succeed.
However, as a beginner in trading, I recommend you to learn the basics of trading online via free websites like YouTube. Although this won’t make you a good trader, you will have a better idea of what it is and then, you can purchase a course to become a true trader.
Is IM Mastery Academy A Pyramid Scheme?
IM Mastery Academy was called iMarkets Live. At that time, it was all about recruiting more and more people and teaching them how to do the same. This business model is illegal and is classified as a scam, if you’re not aware of it yet.
As a result, and fast forward to the present day, iMarkets Live has become IM Mastery Academy. With this rebranding comes a new strategy.
To mask the pyramid scheme and transition to the legitimate side of the business, a series of tools and coaching programs were introduced.
Because IM Mastery Academy offers products “in-store,” we can no longer call it a pyramid scheme.
Their business model, however, has remained the same.
In spite of the fact that you can buy products on the official website, they will still ask you to become a promoter and earn money by recommending IM Mastery Academy to others.
IM Mastery Academy Review: Final Verdict
The focus of IM Mastery Academy is largely on recruiting new members into their MLM scheme, which has led to a lot of negative reviews from past and present users.
But they do offer some training on trading forex. You will learn about FX trading, different strategies, and use analysis tools to improve your trading skills.
However, I don’t recommend IM Mastery Academy because there are so many other ways to earn money online.
Also, I’m not comfortable with the company’s heavy focus on recruiting members into its own MLM program. I still remember those negative reviews and I feel that I personally do not want to be a part of IM Mastery Academy.
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