iMarketsLive|Scam or Legit Forex Trading Training Platform?
Introduction:
For most online entrepreneurs, building the capacity to successfully maneuver wall street, is often a highly desired skill. Nothing beats the convenience of being able to make money at the press of a button.
That being said, the financial freedom that comes with a successful wall street career can be quite liberating. But how do you get to grow your skills from a beginner or novice trader, to a professional and profitable trader?
There are numerous online resources that claim to help traders up their game. iMarketsLive happens to be one of these platforms. But is iMarketsLive a scam, the wolf, or the king of wall street? Well, we will find out in a moment.
This iMarketsLive review will discuss everything you need to know concerning the program. We will be covering the following areas:
- When was iMarketsLive started?
- What is iMarketsLive all about?
- What does it cost to join?
- What is iMarketsLive’s business model
- What is iMarketsLive’s network marketing compensation plan
- Is iMarketsLive a pyramid scheme?
- What we liked about the program
- Good vs. bad qualities
- What internet users are saying about iMarketsLive
When Was It Started?
iMarketsLive was founded in 2013 by Christopher Terry. The program specializes in forex training and offers a trading software promoted via multi-level marketing.
Today, the website has rebranded it’s name to Mastery IM Academy, which perpetuated the singular mission of iMarketsLive – training people on forex training and selling trade signals.
What is iMarketsLive All About?
This online learning program is designed for people looking to learn more about foreign exchange (forex) trading. According to im.academy, the website’s mission is to empower, empower and enrich.
However, the preceding iMarketslive.com served as both an investment company and a brokerage firm. The website would also allow users to make money from advertising and promoting it’s trading software through the distribution of affiliate links.
Upon purchasing a membership plan, you can start learning and promoting the company’s trading, in which you’ll earn money for every successful sale.
What Does It Cost to Join?
IM Academy is a subscription-based membership website, with several products on offer. As such, the cost of your membership will depend on the type of plan that you choose. Below is a comprehensive breakdown of the different membership plans:
- TLX Academy – $184.95 enrollment fee plus $174.95 per month
- DCX Academy – $184.95 enrollment fee plus $174.95 per month
- ECX Academy – $184.95 enrollment fee plus $174.95 per month
- FRX Academy – $184.95 enrollment fee plus $174.95 per month
- TBX Academy – $184.95 enrollment fee plus $174.95 per month
- Elite Academy – $324.94 enrollment fee plus $274.95 per month
As you can see from the numbers above, you will need to invest hundreds of dollars to start making money with this program. If you were looking for a free at-home work opportunity, this website would not be for you.
While the program’s value is definitely worth the cost, we also understand that not everyone can afford it, particularly starters. If your money is looking kind of funny at the moment, you can try out free legit online job opportunity– all of which we have reviewed on this website.
iMarketsLive Business Model
Essentially, the website’s business model is offering forex trading education material and financial trading software. The company advertises that it can turn people with zero trading knowledge and skills into experts who can consistently make a living off of forex trading.
Upon purchasing a subscription to the trading software or enrolling with the IM Academy, you’ll be given the opportunity to indulge in your learning journey, which includes watching professional traders make real live trades.
By watching professional traders open and close market positions, you can learn their strategies and apply them yourself into your future trades. You can also copy and paste the pros’ signals to make the same trades in real-time.
The organization also insists that it’s software is worth purchasing, especially since one can also boost their income by promoting it to others through affiliate marketing.
iMarketsLive Network Marketing Compensation Plan
Besides learning and trading in forex, you can also make money through the website’s MLM program. New recruits get paid a 5% commission at levels 3 and 4, while level 1 and 2 affiliates get 30% and 10% respectively.
The website employs multi-level marketing, which means that your earnings will depend on your ranking. You can also earn $3-$35 Platinum Bonuses for every platinum package sold, and $1000-$4000 Chairman Infinity Bonuses for higher sales.
Is iMarketsLive A Pyramid Scheme?
A pyramid or Ponzi scheme is any business that recruits people for a “money-making opportunity”, without a concrete exchange of real value. Such businesses collect money from new recruits to pay existing players, making it a vicious cycle.
In this case, iMarketsLive is not a pyramid scheme or online scams because it’s primarily an education platform and forex trading software supplier. It’s the proprietary trading software that’s being promoted and sold using the MLM network marketing model.
What We Liked About the Platform
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Money-Back Guarantee
It is evident that the membership plans are quite expensive. If you do not feel satisfied with the product seven days after your purchase, you can call the website’s customer support desk and request a refund.
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Resourceful Learning Program
Despite being expensive, IM Academy offers great learning material on forex trading. Therefore, if you are looking to learn effective and profitable trading strategies from industry experts, then this program might be a great fit for you.
Good vs. Bad Qualities
Below are the good news and bad news concerning this forex trading education and software platform.
Pros:
- Great educational resources
- Money-back guarantee
- Great customer support
- A lucrative multi-level marketing program
- Live training
Cons:
- Too expensive for starters
- The CEO Chris Terry has a history of connection with Ponzi schemes
- Poor BBB rating
- iMarketsLive has been banned in countries such as Belgium
What Are Internet Users Saying About the Website?
Here at LegitWorkOnlineForReal, we conduct independent reviews, which means that we are not getting compensated by the subject company for creating this review. This way, we are able to give our readers honest and unbiased reviews.
This section is always reserved for user reviews published by individuals who have already used the program under scrutiny. We want you to have a more realistic glimpse of the experience to expect from the website.
Below are iMarketsLive reviews published on TrustPilot:
David Thomas
Valocean Byrd
Our Conclusion For iMarketsLive:
iMarketsLive is a legit forex trading education platform and trading software provider. It’s a paid subscription membership website that offers extensive resources to individuals who want to learn more about foreign exchange.
You can also earn money promoting the company’s proprietary trading software via a multi-level marketing program. This means that you can make money while still learning – which we feel is a pretty cool concept.
That being said, iMarketsLive (now Mastery IM Academy), is a great Forex resource center, but it’s definitely not for everyone. If you are conflicted about the high cost of it’s membership, you can check out alternative online job opportunities that we have reviewed on this site.
That brings us to the end of our iMarketsLive review. You are welcome to share your experience, thoughts, comments, and opinions. Thank you for reading our review and see you in our next review.
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