I guess you’ve heard about iMarketslive and are wondering if you can become rich from Forex trading. Check out my entire review for the answer.
This review will be an unbiased look at the company, giving you the details you’ll need to help you determine if this will be the right opportunity for you.
Table of Contents
What Is iMarketsLive About
iMarketsLive is short for International Markets Live and is a financial trading softward company that handles Forex trading and cryptocurrency education platforms. Forex trading is trading real currencies like the U.S. and Canadian dollar.
The company was founded by Christopher Terry in 2013, with the goal to train people, regardless of experience, on how to make money through Forex trading.
iMarketsLive does have proprietary software to help traders make the correct decisions, in addition to their own trading room that is run every Monday through Friday. This room is where you see exactly what the experts are doing and you can copy their strategic moves and reap the same profits.
The other part of the program, the MLM part, is the ability to promote the trading software to others and earn commissions.
How Does Forex Trading Work
The Forex market has become the largest financial market worldwide. The average daily trading volume is about $5 Trillion. It is an immense market because the trading is done in a global computer network of large banks and brokers, not just one single exchange.
Fortunately, there are few barriers to the entry into trading currencies, so it’s not difficult to get started. All you need is a computer with an internet connection to access your trading platforms, trading capital, and the expert trading knowledge that iMarketLive can give you.
iMarketsLive does warn that Forex trading is quite risky, unpredictable, and volatile, yet it can be extremely profitable as well. They do warn that any investor could potentially lose all or more than the initial investment.
They willingly inform you to invest in Forex trading with only money you can afford to lose. So, is it a scam if they tell you upfront that there is the potential to lose everything you invest, if not more? They make it clear that Forex trading is probably not for beginners and for those looking for a sustainable and secure way to make money online.
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COMPANY FOUNDER
The CEO of iMarketLive is Christopher Terry. He first started out as a construction worker and ended up as a company owner for almost 12 years. He got his start in commodities trading in 1995 and after 3 years of active trading, he felt confident and profitable enough to quit his very successful construction company and jump full into the stock markets.
He developed his winning strategy through mentorship and imitating the strategies of the most successful traders. He also felt he could help other people do the same and change their lives through both network marketing and professional trading.
With that in mind, Terry launched iMarketsLive in 2013. Because he also had a background in MLM, with Amway, he claimed that is what instilled the mindset of wealth in him.
On the other hand, he was also connected to Zeek Rewards, which was shut down in 2012, by the SEC because of fraud.
The VP, Alex Morton was involved with other MLM companies, like Vemma Nutrition, which was found to be a pyramid scheme and had to settle with the FTC for millions of dollars.
COMPANY OVERVIEW
iMarketsLive is a MLM company involved in Forex trading and offers various trading products and services. There are currently in over 120 countries, with training available in 8 different languages. It’s headquarters are in New York City.
They trade the top cryptocurrencies like Bitcoin, Ethereum, and Litecoin. Of course cryptocurrency is subject to the same uncertainties as real currency, so you should really be careful about trying to trade in cryptocurrencies.
It was part of the company’s original goal and vision to educate, enrich and empower one million students by 2020. Not quite sure if they’ve gotten to that level.
The entire platform can be grouped as the following:
- LEARNING ACADEMICS – Designed to help you attain the skill to understand the markets that will permit you to be more self-sufficient while going after your more passionate, purposeful and fulfilling life. They have over 100 videos and modules to teach you basic and advanced strategies about Forex trading and cryptocurrency investing.
- LIVE MENTORSHIP – A group of over 60 master educators who will teach you their strategies for those interested in speedier learning.
- STRATEGIES – This is the key part of their company. They claim they have simple and unique strategies that will make it easier to profit when investing in the markets.
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How Does iMarketsLive Work
As mentioned earlier, they have proprietary tools like the following:
- FX SIGNALS LIVE – Available til 2016, this was an automated training program designed to teach Terry’s trading strategy so members could work the Forex market with or without understanding how it worked. It was disconnected after being deemed a breach of standard practice by legitimate brokers like FXCM. Unfortunately many customers were locked out of their accounts for using an “unregulated expert advisor.” Perhaps this is what started the question of being a scam.
- HARMONIC SCANNER – An online tool used to scan the market in real time and give updates for different price patterns and opportunities for trade. It is software that will monitor the markets and tell you when to buy or sell.
- WEB ANALYZER – Used to tell you of the cryptocurrency opportunities to buy and sell.
- SWIPE TRADES – This tool keeps you informed about Forex trade ideas, risk management and expert guidance, for a monthy subscription fee of $17.
- SWIPE COIN – Similar to the Web Analyzer tool, this alerts to Crypto trade ideas and information, for a monthly subscription fee of $100.
WHAT DOES IT COST TO JOIN
It depends on which level you join:
- Digital Currency Monthly – Initial payment of $189.95 and monthly fee of $179.95. It includes access to DC Academy, DC Scanner, Swipe Coin App, and IMLTV Sessions.
- HFFX Monthly – Initial payment of $189.95 and monthly fee of $179.95. It includes access to HFF Academy, HFF TV, Pip Talk, an High Frequency and Forex
- Platinum Package – Initial payment of $225.00 an monthly fee of $164.95. It includes IML Forex and Crypto Adademy’s IML TV, Harmonic Scanner, Swing Trades & Night Owl Sessions, and basic Pip Talk.
- Elite Package – Initial payment of $325.00 and monthly fee of $274.95. It includes access to IML Forex and Crypto Academy’s IML TV, Gold Cup, Swipe Coin, High Frequency Forex, Harmonic Scanner, Swing Trades and Night Owl Sessions, basic Pip Talk, Swipe Trades, Web Analyzer, Bounce Back, Levels, and Pivots.
Obviously, the more you pay, more tools open up to you for use. If you’re not satisfied, they do offer a 7 day money back guarantee. It’s not a lot of time to test the efficiency of the product, so definitely wait for a period of time that you will be able to test it daily before joining in.
Remember, Forex trading is highly volatile, so you want to be able to take the time to see if you can make it profitable for you. I think such a short trial period for such a complex and expensive product, is a little sketchy. However, you will be given access to highly proprietary software, so they do need to protect that integrity.
Also, if you refer two people to subscribe monthly, you can get your membership free.
FINAL THOUGHTS
I’m comfortable with saying iMarketsLive is not a scam. They were fined one time by the Commodity Futures Trading Commission for running illegally. They admit that it will be decidedly hard to make money because trading contains substantial risk. They don’t try to scam you by telling you, you’ll absolutely make money. They do almost the exact opposite, admitting up front that it is a risky investment opportunity.
There’s been a lot of talk about iMarketsLive and Forex trading, but the fact that it is presented as an MLM business, makes me skeptical about it being worth trying. As recruitment is a part of the MLM process, I would guess it would be quite difficult to get people to join something that warns there is no guarantee of making money. The MLM business model is something that is difficult to make money with, no matter what the product. iMarketsLive is expensive to join, compared to other MLM’s, plus it has a high monthly cost to remain active. I can’t recommend joining iMarketsLive.
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