Today, we’re going to talk about iMarketsLive, a forex MLM company that’s been making waves in the trading industry. You may have heard of them – they specialize in selling trading signals in the forex market. However, there have been some concerns about the brand’s integrity due to the history of its founder.
So, what’s the deal with iMarketsLive? Is it a scam or a safe trading platform? As someone who’s been in the internet business for a while, I’ve reviewed my fair share of MLMs and I’m here to share my thoughts with you.
First things first, let me just say that I’m not affiliated with iMarketsLive. That means I’m not getting paid to write this review, so you can trust that my opinions are unbiased.
At the end of this article, I’ll also share with you a much better alternative that has allowed me to make a full-time passive income. So, let’s get into it!
Table of Contents
- What is iMarketsLive?
- Who is Christopher Terry?
- How Does iMarketsLive Help You Make Money?
- What are Forex Signals?
- How to spot a Forex scam?
- iMarketsLive Products Overview
- How much does iMarketsLive cost?
- How to join iMarketsLive?
- iMarketsLive Compensation Plan
- Praise for iMarketsLive
- Criticism of iMarketsLive
- Is iMarketsLive a Scam? What You Need to Know
- Is There a Better Way to Make Money Online?
What is iMarketsLive?
iMarketsLive is a multi-level marketing company founded by Christopher Terry in 2013. Essentially, it’s a broker that offers investment services and products, and these offerings are promoted by independent agents who get compensated for referring others to use the services.
Here’s how it works: if you become an agent, you’ll get a referral code or affiliate link that you can share with your friends, family, and social media followers. If someone signs up using your code or link, you’ll get paid. It’s a bit like a commission-based sales job, but instead of selling physical products, you’re promoting investment services.
One thing to keep in mind is that the compensation you receive is tied to how many people you refer and how active they are in using the services. So, the more successful you are at getting others to sign up and use iMarketsLive, the more money you’ll make.
It’s worth noting that iMarketsLive has received criticism for some of its marketing tactics. For example, the founder, Christopher Terry, has used news of a scandal involving another investment company, FXCM, to promote iMarketsLive. Some people see this as opportunistic and manipulative.
Who is Christopher Terry?
Christopher Terry is the big boss of iMarketsLive, or IM Mastery Academy as some people call it. This guy is loaded, with a net worth of over $2.5 million. He’s got a bit of a following on Instagram with about 142k fans, but he’s not exactly a YouTube star, as I couldn’t find his channel.
Terry is all about forex trading, and he’s got some advice for anyone looking to get into it. According to him, the best time to trade forex is during market crashes.
How Does iMarketsLive Help You Make Money?
iMarketsLive offers a unique business model that centers around their financial trading software and forex education resources. Even if you have zero experience with investing, they claim to have the tools to help you become an expert in forex trading and even make a living from it.
When you sign up for a subscription to the iMarketsLive software, you’ll get access to live trading sessions hosted by seasoned experts. By observing their trades, you can learn valuable strategies and techniques that you can apply to your own trading. Plus, the platform also allows you to use the same software as the experts, on autopilot, so you can mirror their trades and potentially earn profits.
One of the other benefits of iMarketsLive is that you can earn commission by promoting the software to others. This means that you have the potential to make money not only through trading, but also through network marketing.
What are Forex Signals?
Forex signals are indicators that tell traders when to buy and sell throughout the day. With iMarketsLive, you can choose to have the platform trade for you automatically based on these signals. This means you can make the same trade decisions as the experts in the company without having to do all the research yourself.
There are different types of signals, including those based on indicators, chart patterns, moving averages, and more. The goal is to identify triggers or patterns that can help investors predict where the asset’s value will be moving towards in the future.
While these signals consider factors like momentum, volatility, and volume, it’s important to remember that they’re not guaranteed to predict the correct forex move.
How to spot a Forex scam?
If you’re interested in forex trading, you need to be on the lookout for potential scams. Unfortunately, there are many fraudulent schemes out there that can rob you of your hard-earned money. Here are some things to keep in mind to help you spot a forex scam:
Watch out for MLM or Pyramid Scheme Structures
Many forex scams use MLM or pyramid scheme structures to take funds from new customers at the bottom level to pay those who referred them. If you come across a company that is recruiting as many clients as possible without any investment activity, it’s likely a scam.
Beware of Signal Seller Schemes
Signal seller schemes are also common in the forex world. These online platforms claim to offer tools that can help you identify the best times to buy or sell currency pairs to make a profit. However, many of these schemes are fraudulent and are designed to take your money.
Choose Licensed and Transparent Brokers
One of the best ways to avoid forex scams is to work only with licensed brokers that have a track record of transparency and positive customer experiences. Do your research and choose a broker that is well-respected in the industry.
iMarketsLive Products Overview
Let’s take a closer look at what they have to offer.
FX Signals Live: A Create-and-Go System
iMarketsLive’s FX Signals Live is a trading service that claims to be a “create-and-go” system. Essentially, you can follow the trading strategies of the experts and make forex trades based on their recommendations. It sounds pretty easy, but keep in mind that success is never guaranteed in the forex market.
Live Trading Room: Watching the Experts
If you want to get an inside look at how the experts do forex trading, iMarketsLive’s Live Trading Room might be of interest to you. You can watch the experts in action and follow their trades if you want. However, remember that just because they’re experts doesn’t mean that they’re always right.
Harmonic Scanner: Finding Trading Opportunities
The Harmonic Scanner is a tool that automatically gives you signals when it’s time to make a forex trade. It uses patterns in the forex market to identify potential trading opportunities. This could be a useful tool for those who are just starting out in forex trading.
Trading Education: Learn from Scratch
iMarketsLive’s flagship product is their Trading Education platform. Here, you can learn the basics of forex trading from scratch. The platform offers coaching videos, webinars, and articles to help you learn about trading.
How much does iMarketsLive cost?
To get started, you’ll need to pay at least $195, which is quite steep. Let’s take a closer look at the packages on offer.
Customer Platinum Package
This package costs $195 for the first month, which is the minimum fee you need to pay to get started. After that, you’ll need to pay $145 each month. While this package does come with a few perks, such as access to live trading rooms and educational resources, it’s still quite expensive.
IBO Platinum Package
If you want to take things a step further, you can opt for the IBO Platinum Package. This package costs $210 for the first month and $160 each month after that. With this package, you’ll get access to more resources and tools, as well as the ability to earn commissions by referring others to iMarketsLive.
How to join iMarketsLive?
Everyone starts out as a customer in iMarketsLive by signing up for a monthly membership package. The cost of the membership package is around $165 per month.
If you refer two people to sign up for iMarketsLive, your monthly membership fee is waived. This is known as the “2 & FREE” deal.
You can also sign up to become an Independent Business Owner (IBO) with iMarketsLive for around $17 per month. This allows you to share the iMarketsLive platform with people you know and get paid commissions if they decide to sign up.
iMarketsLive Compensation Plan
The iMarketsLive compensation plan determines how much money you can make by selling the company’s products and recruiting others to join the business. However, the company doesn’t provide detailed information about the compensation plan on their website.
Group Volume and Number of Subscribers
Group Volume (GV) is the total volume of monthly membership fees your downline must have. Number of Subscribers is the minimum amount of people you have to sign up below you.
Weekly and Monthly Pay
Weekly Pay is how much you can earn at that rank on a weekly basis. Monthly Pay is how much you can earn at that rank on a monthly basis.
Ranking and Income
To climb up the iMarketsLive compensation plan, you need to sign up more people and grow your downline. Each rank is named for how much money it pays you per month. For example, if you can reach Platinum 600 level, you’ll earn $600 per month. Platinum 5000 pays $5,000 per month.
Higher ranks like Chairman 25 pay $25,000 per month while Chairman 100 pays $100,000 per month. However, it’s important to note that it’s not very likely that you’ll be able to reach these high-ranking positions.
While the iMarketsLive compensation plan may seem attractive, it’s important to do your research and understand the risks involved in joining an MLM company.
Praise for iMarketsLive
1. No Recruitment Required
Unlike most MLMs, iMarketsLive doesn’t require you to build a downline in order to make good money. As a Forex trader, you have the potential to earn a lot of money on your own, without having to recruit others to do the same. This gives you more flexibility with your time and allows you to focus on your own trading strategies.
2. Work from Anywhere
With iMarketsLive, you can work from anywhere in the world, as long as you have a smartphone or computer with internet access. This modern MLM is entirely online, from the training and support to the products themselves.
You can say goodbye to the hassle of lugging around product boxes and selling door-to-door. Plus, you can wear whatever you want without worrying about your appearance!
3. Comprehensive Training and Support
If you’re serious about Forex trading and want to invest in your education, iMarketsLive offers a wealth of resources to help you succeed.
From videos and tutorials to live help sessions, iMarketsLive provides more product support than many other MLMs. You’ll have access to a vast knowledge base to help you develop your trading skills and strategies.
Criticism of iMarketsLive
1. High Membership Costs
If you’re considering joining iMarketsLive, be prepared to pay a hefty fee. The most basic level of membership costs around $200 upfront, and you’ll need to pay $170 per month. This means that you’ll be spending over $2000 per year just to be a part of the program. Of course, if the trading advice you receive helps you earn ten times that amount, then it might be worth the investment. However, it’s important to keep in mind that there’s no guarantee that you’ll earn any money at all.
2. Risky Trading
Like with any MLM, many people end up losing money with iMarketsLive. With this MLM, you not only have to pay membership fees, but you’ll also need to risk your own trading capital to play the currency markets.
This means that there’s a real chance that you could lose all of the money that you invest. In fact, because of the way that leveraged trades work, you could potentially lose even more than the full amount of your Forex trading account. So if you decide to join iMarketsLive, be prepared to take on a significant amount of risk.
3. Trustworthiness Concerns
iMarketsLive has been involved in a number of controversies that raise concerns about the company’s trustworthiness. For example, iMarketsLive CEO Chris Terry has been associated with Zeek Rewards, a company that was shut down for fraud by the SEC in 2012.
Additionally, the company’s VP Alex Morton has a history with MLM companies such as Vemma Nutrition, which had to pay hundreds of millions of dollars to settle allegations of being a pyramid scheme with the FTC.
Furthermore, iMarketsLive has been fined by the Commodity Futures Trading Commission for operating illegally. It has also been banned as unauthorized in Belgium and received warnings from other countries like France. When looking at the company’s Better Business Bureau rating, it initially had an “F” rating due to the numerous complaints it had received.
However, it later received an “A” rating, which some reviewers believe may have been due to iMarketsLive members spamming the BBB page with positive reviews. These factors raise questions about the company’s trustworthiness and reliability.
4. Emphasis on Recruitment
iMarketsLive is an MLM, which means that the company encourages its members to recruit others to join the business. While the company claims to be focused on forex trading, the emphasis on recruiting raises some concerns.
One might question why the company would teach people how to recruit if it is solely about forex trading. The answer is likely that the real money is made by getting other people to join.
According to the company’s Income Disclosure Statement, 87% of all members make an average of $4.30 per month, and only 0.3% earn more than $30k per year. This indicates that the emphasis on recruitment may be more important than the actual forex trading.
These statistics suggest that becoming an iMarketsLive member may not be a high-probability trade, and those looking for a more legitimate and reputable business model may want to consider other options.
Is iMarketsLive a Scam? What You Need to Know
iMarketsLive is a forex broker that has been around since 2013, founded by Christopher Terry. However, the question on many people’s minds is whether it is a legitimate broker or a scam. In this article, we’ll take a closer look at the facts surrounding iMarketsLive and its operations.
Lack of Regulation and Legal Compliance
One red flag with iMarketsLive is that it is not a regulated broker and does not hold any licenses. This means they are not held to the same legal standards as other brokers, making it risky for investors who are looking for a safe and secure trading environment.
Furthermore, the company has had several compliance breaches, with regulators in Belgium, France, and Spain banning iMarketsLive for closely resembling a pyramid scheme. The FTC also fined the company $85 million in 2018.
Dubious Claims and Incomes
Another issue with iMarketsLive is their claims of clients earning easy and consistent income. However, their most recent income disclosure shows that most affiliates only earned about $250 per year, which raises questions about their legitimacy. Moreover, it can cost upwards of $165 per month to access their basic tools and training, which means most affiliates end up losing money.
Lack of Transparency
The iMarketsLive website is not very transparent, and there is not much information about their operations or Christopher Terry. Terry was involved with another company named Zeek Rewards, which the SEC shut down in 2012 for fraudulent activities.
Their VP, Alex Morton, also has a history of fraud allegations and legal troubles. Morton previously owned Vemma Nutrition, an MLM company deemed a pyramid scheme by the FTC, resulting in the payout of hundreds of millions of dollars in fines.
Based on the information we have presented, it is up to you to decide whether iMarketsLive is a scam or not. However, we recommend that you proceed with caution and conduct thorough research before investing any money with them.
Is There a Better Way to Make Money Online?
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