Have you ever thought of trying forex (foreign exchange) trading?
Or have you seen Leonardo DiCaprio from the movie, The Wolf of Wall Street and got interested?
If you are, a lot of people into that movie like us are feeling excited to start making a step through to financial freedom!
Our team at MLM Reviewed will show you why we think should think hard about whether you want to join International Markets Live or not.
We’ll also show you the exact system we used to build our own internet marketing business to over $40,000 a month in mostly passive income.
What is the truth about IMarketsLive?
This is International Markets Live… or IML for short.
This company has been around since 2008, and they are still going strong in the online marketing industry.
This business is all about multi-level marketing, except in the forex trading industry.
Since forex trading is all about currency trading.
They have a team of successful marketers who are passionate about helping others with earning income online.
You’ll need a lot of hustling and grinding if you want to make income online.
Let’s give a short little break down:
MLM is a company that is under forex trading industry.
Consider it similar to legalized gambling… someone like you could make a lot of money or lose a lot of money!
So Forex Trading can seem pretty risky, right?
In a single day, the forex market transacts $5 trillion! To give you a sense of range, that’s roughly 200 times the NYSE.
This is why many people are drawn to enter the market nowadays.
This is where iMarketsLive enters the picture. These guys pull in about $6 million a month…
AN ENTIRE MONTH!
Those figures are current as of 2017, but they have been steadily increasing since then.
Plus they are really active on social media too so it’s not like the company is hiding anything from its customers. They want users to know what they are doing and how great of opportunity it all is!
But as you may already know, this network marketing business is rife with controversy.
So, we’ll examine every aspect of iMarketsLive to see if it’s the best forex trading software available.
And see if forex trading suits you!
What is IMarketsLive?
IMarketsLive is an online business opportunity / educational platform where users can trade on Forex markets all while earning commissions off their trades from the company’s training programs.
They are currently in over 120 countries, and on top of that, they deliver training in eight different languages.
So, where did they make their home?
The world’s financial capital…
The Big Apple that is…
New York City, New York!
They have a team of 60 diverse members, all of whom teach the ins and outs of forex and cryptocurrency market to some extent.
One more thing though, International Markets Live, Inc also teaches cryptocurrency strategies.
Yes, IML now includes crypto.
One of their goals is to educate millions of students to learn everything about trading in the market.
However, this includes teaching them about the high risk of trading. The possibility of losing is also high as winning.
They will prepare you for the possible losses that can be even higher than the amount you invested.
But of course, every financial investment has its own level of risk so no need to be discouraged.
So who’s the brains behind IML?
Who Is Christopher Terry?
Christopher Terry is the founder of International Markets Live in 2013 and he is the current CEO.
What’s troubling is you wouldn’t find that much information about him on the iMarketsLive corporate website aside from his basic information.
It’s not that we are looking for so much information it’s just that it will be better if they will share more useful information on their website.
Even the most simple MLM businesses have a brief history of the business, a mission statement, and a rah rah statement from their CEO.
With IML, you don’t get that.
Your standard MLM has something about where they came from, some information about how they operate now, maybe even thank you notes from Founder/CEOs themselves for being members; all things you don’t get with IML.
The International Markets Live website is limited, to say the least- there’s not even a little history about their company and what they do!
Now check out what we found out about Chris on his short bio on their website:
Chris Terry has a great story of rags to riches by trading.
He started in a construction business for 12 years before discovering commodities trading and immersing himself in the markets back in 1995.
In just three years, he had gained enough confidence to leave his construction company, which had produced revenues of more than $40 million the previous year, to pursue his dream of becoming a full-time trader.
He followed and successfully used this winning technique of obtaining the appropriate learning and experience from the right Mentors and then imitating the strategies of successful people over the years.
In doing so, he realized that the same method of pursuing success step by step could help ordinary people all over the world achieve the same degree of success that he had.
Mr. Terry realized that at this point in his life, it was his calling to use a combination of Network Marketing and Professional Trading to help transform people’s lives on a global scale.
As a result, in August 2012, Mr. Terry decided it was time to put his philosophy into action, and International Markets Live, Inc. was born.”
What do you think isn’t listed in that brief biography about Mr. Terry?
He has a long history with MLM and Network Marketing!
He started with Amway but did not make any profit.
Anyway, that experience give him the “Mindset of Wealth’
This means that its the people on top that makes all the profits, so he figured out a way to create a downline.
I’m just sort of winging it here… but it’s possible it has something to do with Chris Terry’s promotion on Zeek Rewards… In 2012, the SEC busted a Ponzi scheme.
Despite his track record of failures in previous companies, he fought a good fight and came up with the concept for iMarketsLive in 2012
Then he launched it in 2013!
He hit 55,000 members inside new forex trading MLM in 2016.
Unfortunately, this good story did not last long enough. Many brokers shut down iMarketsLive customers accounts due to advices by unregulated advisors.
How did it happen?
Terry says that they were using automated trading software called “FX Signals Live”.
This program mirrored his exact trades so in a roundabout way you didn’t have to be one of those genius day traders…you could essentially just follow the program.
That’s where the line was drawn: there are regulations in the investment world to prevent exactly that. As you can imagine, if some 50,000+ people made the same trading selections it would probably sway that area of the market.
And with such little oversight around these brokers, we’re thinking this is probably not a good idea.
This caused legitimate brokers to ban FX Signals Live to be used. FXCM is one of the most known brokers involved.
Harmonic scanner were found to replace FX Signals Live; a tool used to help investors follow market trends.
The use of The Harmonic Scanner is to scan the market real time, showing different trading opportunities to its users.
However, you need a better understanding of what’s going on to know what they mean.
Full IMarketsLive Review
MLM Reviewed is well aware that IML is currently a hot topic in the cryptocurrency and bitcoin world.
Now let’s all find out if iMarketsLive is a scam or not.
But please remember that we are not in any way connected to iMarketsLive.
We’ll give you an open and frank overview, finally answering the age-old question:
Again, is iMarketsLive a scam?
What Are IMarketsLive Products?
If you have been considering becoming an active member of the iMarketsLive community, it is only normal to wonder if It’s scam.
There are many rumors out there about this company, and while some may not turn out to be true, others might be valid.
Let’s take a look at what they offer and see how legitimate this program is.
iMarketsLive offers 4 products that is composed of two different education options products and two trading software products.
So what does these 4 products actually offer you?
Succeeding in forex trading doesn’t happen overnight… and you can’t learn this all by yourself.
iMarketsLive believes that they have the tools to equip, empower, and educate you.
Forex market is not just about buying when low and selling when high.
There are many other details to consider aside from this… like lots of math and algorithms!
This is where IML comes into play.
Their educational platforms offer over 100 videos that includes basic strategies to advance day trading strategies.
You may think that you can also find this kind of contents on Youtube, but iMarketsLive offers you all you need in an orderly fashion
Is the money you’ll pay for this worth it?
IML’s answer to this is YES!
Because they give an access to live trading rooms with experienced traders making money online and answers questions through chat.
The people that conduct the training are all qualified, experienced, and credible.
Come to think of it, many people are successful and making profit from doing this.
And not only that, Chris also joins on live webinars every Sunday night!
iMarketslive not only gives mentorship and education. The also give their own proprietary financial trading software which is the Harmonic Scanner.
As mentioned earlier the Harmonic Scanner is a tool that scans the market real time and see opportunities that can help you make some income.
This is the Harmonic Scanner.
As mentioned earlier this tool helps scan the market real time and see opportunities that can help oneself to earn money.
Web Analyzer on the other hand is their tool for cryptocurrency and does the same thing. And this is paid by the user every month.
But you may also be wondering if there is another way to find out what the experts are trading like FX Signal Live does, don’t worry because there are tools to get this information.
Swipe Trades for only $17 per month, you will get notifications about the newest Forex Trading ideas with guidance and risk management.
Swipe Coin pretty much does the same thing except it’s for cryptocurrency. This costs $100 a month.
Now let’s try to look at some other options iMarketsLive offers and see how much this will cost you.
Lucky for you if you are really good with trading you wouldn’t need to pay this company as much as $165 or more!
Looks like this is where they are getting their recurring income.
Here are some options and prices for iMarketsLive
DIGITAL CURRENCY MONTHLY: $189.95 initial cost; $179.95 per month
Products included: DC Academy, DC Scanner, SwipeCoin App, IMLTV Sessions
HFFX MONTHLY: $189.95 initial cost; $179.95 per month
Products included: HFF Academy, HFF Scanner, PipTalk, High Frequency Forex
PLATINUM PACKAGE: $225.00 initial cost; $164.95 per month
IML Forex and Crypto Academy, IML TV (All Sessions), Harmonic Scanner, Swing Trades & Night Owl Sessions, Pip Talk (Basic) were among the products available
ELITE PACKAGE: $325.00 initial cost; $274.95 per month
IML Forex and Crypto Academy, IML TV (All Sessions), Harmonic Scanner, Swing Trades & Night Owl Sessions, Pip Talk (Basic), Swipe Trades, Web Analyzer, Bounce Back, Gold Cup, SwipeCoin, High Frequency Forex, PIVOTS, LEVELS, IML Forex and Crypto Academy, IML TV (All Sessions), Harmonic Scanner, Swing Trades & Night Owl Sessions, Pip Talk (Basic) were among products available.
“SOUNDS TOTALLY NOT CHEAP!”
You’d be right in thinking that, but the best things in life don’t always come cheap.
This course MLM, however, isn’t!
Nonetheless, we can’t totally dismiss them.
But here’s the thing!
The MLM is kind enough to offer a full refund within 7 days of being a subscriber.
Considering that you understand the value of the services they provide but don’t want to break the bank.
If you can refer two individuals to join the program, your monthly payment will be waived!
Sounds pretty good huh?
Not really… Here’s why:
According to our review team, they asked one of their employees to share their experience with the forex market.
One of the aspects that they claim you can’t avoid is the risk associated with trading.
There’s just no guarantee when it comes to the forex industry.
They also shared how much of a get-rich-quick scheme forex trading was.
Some of them felt that they are being sold a bill of good, telling them how quickly you can make money and strike it rich overnight.
Evidently, they don’t discuss everything about forex… especially its negative side.
Obviously, they didn’t give it too much thinking and didn’t make money. Hoping they would have just put their money into something more profitable.
But don’t worry about them because they’re doing better now, so just think of it as a good learning experience.
How Does IML Pay?
Here comes the compensation plan.
As discussed earlier, if you are a IML member, you can refer two people. If they join and pay their monthly fee, you no longer have to pay your fee!
Or you can be an iMarketsLive Independent Business Owner which cost only $17 per month and receive commissions from those who are recruited under them.
Now that sound just like network marketing?
Yes its structure is similar with MLM. You can make money through commission by signing up people.
Let’s take a look how this compensation plan is broken down.
The amount of money from your downline’s monthly fee / membership fee is your group volume
The minimum amount of people you need to sign up below you is the number of your subscribers.
Your income will increase accordingly once you reach each one of those ranks.
The hard part is convincing people to sign up under you.
Can You Make Money With IMarketsLive?
Let’s see if anyone can make money with iMarketsLive!
The easy answer is yes.
Yeah, many people have done it, as it has always been. But here’s the thing: it’s not nearly as popular as you might believe.
Just like other MLM companies, the only way for you to get rich is to be on top. Unless you have an outstanding trading account.
Is IMarketsLive Legitimate?
Yes, iMarketsLive is legitimate, but still. If you do some kind of in-depth research on the MLM model in general, you’ll notice that there are very few similarities between it and a pyramid scheme.
So, what’s the difference?
The fact that MLMs offer real goods or services allows them to avoid being classified as a pure pyramid scheme.
In this situation, iMarketsLive is selling their course and accepting rental applications.
Is IMarketsLive Illegal?
Despite of the CEO’s involvement in some investigations throughout the years, iMarketsLive is not illegal. In fact, it is a perfectly legitimate MLM.
What Happened To IMarketsLive?
In 2016, iMarketsLive was forced to nix their application, Forex Signal Live, due to how it allowed people to mimic an individual’s exact trades. Brokers all over the country said that people were receiving advice from an unlicensed advisor.
Now there is Harmonic Scanner which does not provide as much value but it may be worth checking out if you are looking for something low-cost.
Is IM Mastery Academy A Pyramid Scheme?
IM Live is not a Pyramid scheme.
Because it sells actual products and services in the form of training and applications to its consumers.
Many participants in the course, however, have said that becoming a currency trader is just the beginning. Over time, it becomes clear that the people who are truly effective are those who have a downline.
It should also come as no surprise… Chris Terry knew that those at the top of these MLMs made the real money; all he had to do was figure out how to make his own.
How Do I Get My Money Back From IM Academy?
The steps to get your money back is actually easy.
First call up their support, provide your information and they will immediately process your refund.
But make sure to request one within 7 days of joining if you want a refund.
Or else, you can only cancel your monthly payment for the next month.
Big Income Without Selling Or Recruiting:
Unlike in MLM, the only way to earn a big amount of money is through recruitment.
While in forex you can generate income without recruiting anyone.
PJ’s All Day!
Forex allows you to earn money even in the comfort of your home.
No need for attending gatherings or even going door to door to discuss your business opportunity.
All you need is your phone and the comfiest loungewear and trade Forex online!
Lots Of Training
They pretty much cover everything you need and more!
Seems to have a great success rate with people who are disciplined enough to follow through!
Your monthly membership fee and the software fee will cost you over $2,000 per year!
Potential For Big Loss
You can’t make your way through the FX world without losing money. The risk is high whatever traders tell you.
Aside from paying high monthly fees, the chances of losing your investment capital is also there.
There is a past Ponzi scheme connections with the CEO, as well as being banned in Belgium which may be concerning for some investors.
Fines from the CFTC for illegal activity and more.
The Better Business Bureau was previously rated an F, but thanks to the many favorable feedback, it was upgraded to an A.
Conclusion: Is IMarketsLive A Pyramid Scheme?
The USA did not declare IMarketsLive as a pyramid scheme, but other countries banned it like Belgium.
Also, IM Live has warnings in France.
They were fined by CFTC as well.
So, while it hasn’t been legally identified as a scam in the United States, anyone can get a wider perspective by looking at how other countries have dealt with it.
This will help you understand if it isn’t the best thing to get yourself in.
You probably still have questions about Forex Trading in general so we hope these will help!
Is Forex Trading Illegal?
It’s not against the law!
But, given how it makes certain people feel, it’s possible that it will happen eventually!
How Do You Become A Forex Trader?
Forex trading let’s you start making money with investing for only $300!
No need to initially invest in large amounts of cash to start.
Why Do People Hate MLM Companies?
Majority of people hate MLM companies because they preach that you can “get rich fast.” Few people completely escape these situations until they have personal contact with them or see something negative happen to someone else, such as losing a large sum of money.
There’s a lot that comes along with Network Marketing that many people struggle with.
In fact, check out our Top 5 Reason Why Most Network Marketers Fail.
Now, don’t get me wrong…
You can certainly make money with Network Marketing, but if you’re gonna put in the amount of grueling work to do this business (which, trust me, isn’t easy), you might as well bring in some REAL money while you’re learning the ropes.
So here’s the solution…
What Is Our Top Recommendation For Making Money Online?
Our review team has come across a program in the real estate industry that is next level!
Although it’s not real estate in the traditional sense, it’s all digital.
Where IMarketsLive falls short is in scalability.
There’s only so much time in a day and there’s only so many people you can reach to sell by yourself.
MLM companies know this! Which is why they push so hard for you to recruit for your downline…you can’t get rich with it as a one man/woman show.
But what if you could make even more money off of little local websites without having to spend hundreds of dollars on overpriced products and a bunch of time recruiting people to sell under you?
With this digital real estate program, you can make recurring monthly income without constant sales to your friends and constant recruitment!
Sound too good to be true? Of course it does! But it isn’t…in fact, business owners wish they had this skill!
All you have to do is build and rank a LOCAL website and forward the jobs off to a business owner in town, you could even email it to them!
This works for literally any service based business, tree service, plumbing, towing, etc.
How do you get paid and how much?
Simple, after you forward the jobs off to a business owner and he makes some money off of them, you simply ask to make the deal beneficial for each other.
A fair price to charge per lead, depending on the industry is 10-20%…let’s just use the tree service industry for example and go by worst case scenario.
Let’s say you build and rank the site and only 10 jobs a month come in. The average tree service job is anywhere from $500-$2000!
That means at bare minimum you have an asset worth $500 a month!
See why they call it digital real estate now? That’s a rent payment.
The great thing is how easy it is to scale. You don’t have to worry about:
- Your upline getting paid before you
- Begging your friends and family to buy from you
- Recruiting people all the time
But as it is with IMarketsLive… You only get what’s left of the pie if you meet a monthly quota…
The course we recommend actually allows you to collect HUGE FLAT RATE DEALS. Truly passive income!
The training program takes making money online to a whole other level. The owner of the program walks you through how to build and rank a site hand in hand, with the occasional voice over when he is sharing his screen.
You will learn the importance of keywords, website name, how to send call notifications via email, backlinking, etc.
Once the training program is completed you will also have access to a Facebook group much better than the IMarketsLive group in our opinion. This group is much more active.
Unlike IMarketsLive, where you’re getting maybe $10 per sale, you could be getting 10-20X THAT.
A business will always want more leads and another job. In fact it doesn’t even matter that the job isn’t coming from their website name…they see it as it is…expanding digital real estate.
Unlike IMarketsLive, more people have been able to walk away from their 9-5 job as well.
Digital real estate allows you to have total passive income with most of your day being spent WITH your friends, NOT selling to them.
Now, I know you probably have tons of questions…