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iMarketsLive MLM Review (2020): Scam, Wolf, or King of Wall Street?
Table of Contents
It’s All About The Benjamins
So you wanna get rich from Forex trading, huh?
I know the feeling.
But you might wanna think twice about joining iMarketsLive.
Like it or not, most MLMs like iMarketsLive are dressed up sales jobs.
Whether it’s selling “the dream” to your friends and family to convince ’em to sign up for your new Forex trading program…
Or just buying and selling currencies in the Forex market yourself.
Either way, you better enjoy hustlin’ and grindin’ if you’re gonna make it in this game.
Let me break it down for you:
iMarketsLive – short for International Markets Live – is a unique multi-level marketing company that’s all about Forex trading.
That’s short for foreign exchange trading, also known as currency trading.
It’s just like the stock market but instead of buying and selling shares of companies, you buy and sell currencies like the U.S. and Canadian dollar.
And unlike a regular 9-to-5 job, skilled currency traders can make (or lose) serious bank.
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In fact, the Forex market is the largest financial market on the planet — doing 5 TRILLION (with a “t”) a day in trade volume.
That’s over 200 times larger than the New York Stock Exchange!
Now you can see why there’s an absolute sh*tload of Benjamins to be made in Forex.
And iMarketsLive is doing exactly that:
By 2020, they were pulling in over $6 million per month.
They’ve also experienced a tremendous amount of growth and momentum in 2020 and 2020.
But there’s a fair amount of controversy surrounding this network marketing phenom.
If you’ve noticed that too, you’re probably interested in a lil’ more info about ’em, right?
You’ve come to the right place, brotato chip.
iMarketsLive Company Overview
First things first:
iMarketsLive is a Forex trading MLM that offers various trading educational products and services to a global audience.
They currently appear in over 120 countries and have training available in 8 major languages.
As you’d expect, their headquarters is located in the center of the financial universe:
New York City, New York.
They also have a staff of over 60 educators who have a single job: Teach peeps like you and me about the joys of Forex and cryptocurrency trading.
Oh, did I not mention they do cryptocurrency markets like Bitcoin as well?
The company’s vision, according to their website, is to “Educate, Enrich, and Empower One Million Students by 2020.”
Admittedly, also according to their website:
Trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing financial security or life style.
To be fair, that could be said about any investment opportunity (e.g. financial services from Primerica, binary options, etc), but Forex trading is notoriously difficult — I know from personal experience.
Risks aside for now, let’s talk about how iMarketsLive came into being in the first place.
When Was iMarketsLive Founded?
What’s the real story behind iMarketsLive?
Well, for starters:
International Markets Live, Inc. was founded back in 2020 by CEO Christopher Terry.
But you know what’s weird?
iMarketsLive’s corporate website is surprisingly thin when it comes to offering information.
Most companies, even most MLM companies, have at least a little history of the company along with a small biography of the founder/CEO.
iMarketsLive.com has no such information on their site and seems to prefer to remain as mysterious as possible.
But I did manage to find this page, which appears to be an older bio of the company’s founder Chris Terry.
Here’s an excerpt:
Mr. Christopher Terry began this journey in construction, both as a worker and eventually as an owner, for nearly 12 years. In 1995, he discovered commodities trading and began to immerse himself in the markets.
In just 3 years, he was confident enough to walk away from his Construction Business, which had generated sales in excess of $40 million that same year, in order to become a full time trader.
Over the years he applied and effectively utilized this winning strategy of gaining the necessary learning and experience through the proper Mentors and then imitating the strategies of successful people.
While doing so he realized the same process of following success step by step, could bring average people everywhere to the same level of success that he himself had achieved.
Mr. Terry began to realize that at this point in his life it was his calling to help change people’s lives on a massive Global scale through a marriage of Network Marketing with Professional Trading.
This is why, in August 2020, Mr. Terry made the decision it was time to act on this Philosophy, and International Markets Live, Inc. was born.
One thing that’s missing from that bio of Chris Terry is his long history with MLMs and network marketing.
Terry came up in Amway, and although by his own admission he didn’t actually make any money, he said it gave him a “mindset of wealth”.
In other words, he probably realized the folks who made the most money in an MLM were the ones at the top and who recruited the largest downlines.
This also might explain why Chris Terry was reportedly a big promoter of Zeek Rewards*, which got busted by the SEC in 2020 for being a ponzi scheme.
(*In this interview with Denise Martino, Terry refers to Denise as his “downline member” and she clearly appears to be in Zeek at the time.)
Despite these failed business attempts, Chris Terry persisted and while the idea of iMarketsLive was spawned in 2020, it officially launched in 2020.
The new Forex trading MLM grew quickly and by 2020, iMarketsLive reached 55,000 members.
Unfortunately, that same year brokers began locking the accounts of many iMarketsLive customers for using an unregulated “expert advisor”.
Here’s what happened:
iMarketsLive had a special little automated trading program called “FX Signals Live”.
The program automatically mirrored the trades of Chris Terry himself, so members could essentially play the Forex market without actually understanding it.
However, one of the main reasons there are regulations in the investment world is to prevent exactly that.
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And when legitimate brokers like FXCM decided they wouldn’t allow it anymore, FX Signals Live was discontinued in 2020.
As a replacement, iMarketsLive released their new online “Harmonic Scanner” designed to help follow market trends.
It’s a little technical but here’s a basic video that explains what it does:
It’s basically an online tool that scans the market in real-time and gives you alerts for different price patterns and trading opportunities.
But now you actually have to know what’s going on and make the trades yourself.
What Are iMarketsLive Products?
iMarketsLive sells you on the ability to become a successful currency trader.
Sure, you could try to learn it all by yourself.
After all, how hard could it be to click a few buttons and place a few trades?
Buy low, sell high.
Easy peasy, right?
Well, despite what you may have heard, day trading is MUCH harder than it sounds.
That’s why iMarketsLive offers a full suite of support and trading education.
Over 100 training videos and modules offer basic and advanced strategies on both Forex trading and cryptocurrency investing.
You can also access live trading rooms and watch experienced staff members place trades and talk about the secrets of their success (in 8 different languages).
Here’s a good overview video that explains the iMarketsLive opportunity:
Obviously that’s a company sponsored video, so take it with a grain of salt (don’t drink the Kool-Aid).
But I will say that iMarketsLive seems to provide a ton of help for their members, which is always a big plus.
Even CEO Chris Terry himself gets in on the action, holding Sunday night webinars that you can sit in on.
Additionally, iMarketsLive gives you access to their proprietary financial trading software.
As mentioned earlier, their Harmonic Scanner searches the market for harmonic patterns to exploit and profit from.
Their Web Analyzer does the same with cryptocurrency, for an additional fee.
And even though their trade-mirroring service is gone, iMarketsLive still provides other ways for you to copy what their experts are doing.
Swipe Trades will alert you to “Forex trade ideas” including risk management and expert guidance for an extra $17 per month.
Swipe Coin does the same but for Crypto trade ideas and info, for an extra $100 per month fee.
While that may seem pricey, keep in mind that it allows you to get solid trade ideas sent right to your phone without having to do any of the legwork.
Because let’s be honest: If you knew what you were doing when it comes to trading, you wouldn’t be paying this company $165 a month or more for the privilege.
Long story short: The more you pay iMarketsLive, the more training and tools you get.
Speaking of which, here are your membership options if you wanna join:
iMarketsLive Membership Options
*Mobile users: scroll left/right on table if last column is not fully visible
|DIGITAL CURRENCY MONTHLY||HFFX MONTHLY||PLATINUM PACKAGE||ELITE PACKAGE|
|INITIAL PAYMENT||INITIAL PAYMENT||INITIAL PAYMENT||INITIAL PAYMENT|
|MONTHLY PAYMENT||MONTHLY PAYMENT||MONTHLY PAYMENT||MONTHLY PAYMENT|
|WHAT YOU GET||WHAT YOU GET||WHAT YOU GET||WHAT YOU GET|
|DC Academy||HFF Academy||IML Forex and Crypto Academy’s||IML Forex and Crypto Academy’s|
|DC Scanner||HFF TV||IML TV (All Sessions)||IML TV (All Sessions)|
|SwipeCoin App||PipTalk||Harmonic Scanner||Harmonic Scanner|
|IMLTV Sessions||High Frequency Forex||Swing Trades & Night Owl Sessions||Swing Trades & Night Owl Sessions|
|Pip Talk (Basic)||Pip Talk (Basic)|
|High Frequency Forex|
Hey, nobody said day trading was cheap.
To be fair, iMarketsLive does offer a 7 day, 100% money back guarantee to all of its subscribers.
If you’re dissatisfied with their service in any way, you can get a full refund of your membership fee within a week of signing up.
iMarketsLive gives their Customers a “2 & FREE” option as well — if you personally refer 2 people into buying a monthly membership, your membership is free.
So: If you can convince a couple people that Forex trading is awesome…
You don’t have to pay anything to get the iMarketsLive training and support.
Sounds good, but here’s something you should know from a guy who’s been in the trenches:
My Forex Trading Experience
The risk factor in Forex trading is something we shouldn’t just gloss over.
As mentioned in iMarketsLive’s disclaimer, you can easily lose all your invested money in addition to the monthly fees.
I should know — years ago, I was heavily into Forex trading and learned everything I could about it.
Technical analysis, risk management, chart indicators — you name it, I tried it.
And that’s not all:
I kept daily trading journals, learned how to read candlesticks, recognize trends, and was a particular fan of using 2ATR for a trailing stop loss.
Along the way, I traded almost every currency pair, chart timeframe, and read every trading strategy book I could find.
(Here’s my personal favorite, along with this one originally published in 1930.)
I should also mention that I paid a small fortune for different trading systems, tools, and “secret” strategies from so-called experts.
I’m FAR from the smartest guy in the room — but I’m not a complete Muppet either.
I wasn’t just gambling (only risked 2-3% max per trade) and I gave Forex trading everything I had for almost 3 years straight while I was still driving truck.
And even though I had periods of profitability, in the end I always lost money.
Not to mention I also got sick of the highs and lows of trading — feeling like a God one week, damn near suicidal the next.
Out of desperation, I finally resorted to following a mirror-trading service which ultimately blew up and reduced my trading account to almost nothing.
It was my own dumbass fault, but that’s when I decided to hang up my Forex trading gloves and look for something else.
Also contributing to that decision was realizing that after being on countless online trading forums — I wasn’t alone in my frustration and misery.
The only ones who seemed to be making any consistent money in Forex (besides the banks and hedge funds), were the guys selling me the tools and systems.
Just like during the gold rush back in the 1800’s, the real money wasn’t in digging for gold — it was selling the pickaxes and shovels to the desperate and hopeful.
Now obviously, there ARE successful Forex traders out there.
So just because this ex-truck driver with a GED couldn’t do it, doesn’t mean that you can’t make it work.
Like any other form of retail trading, some folks make money and some folks lose money.
All I’m saying is that Forex trading is hard as hell.
As a general rule, if you enter a gambling game against a lotta peeps who are more experienced and skilled than you are…
It’s a safe bet that the odds aren’t in your favor.
Don’t say I didn’t warn ya.
Pros: Why Join iMarketsLive?
✓ Potential for serious income without recruitment.
Almost every MLM in existence requires you to recruit and grow a huge downline if you wanna make the big money.
The reason is simple:
Your time is limited and there’s only so many hours in a week that you can use to sell products to people you know.
Forex trading is different in the sense that you could gain (or lose) a lot of money all by yourself, without ever having to recruit anyone.
✓ No pants required.
While most MLMs involve you dragging around a box of products to various houses, iMarketsLive is something you do from your desk or smartphone.
This is a very modern MLM and the entire thing (training + products + support) is all available online.
Never having to leave your house to run your business is a definite advantage.
For example, go try selling Amway products with no pants — I’m guessing it wouldn’t turn out so well.
✓ Plenty of training materials.
Between all the videos, training modules, tutorials, and live help sessions, iMarketsLive probably offers more actual product support than most other MLMs.
If you’re willing to invest in your education and want a crash course in Forex trading, there’s a vast bucket of knowledge here waiting for you.
Cons: Is iMarketsLive a Scam?
✗ First off: Solid trading advice don’t come cheap.
Around $200 up front plus $170 a month is what it’s gonna cost you for the most basic level of membership.
That’s over $2000 per year.
But if that trading advice makes you ten times that, it might be worth it.
✗ You could lose a lot more than your monthly fees.
Yes, plenty of people lose money in MLMs (most do).
But they generally lose money from not being able to recoup their minimum purchase requirements and monthly fees.
With iMarketsLive, in addition to your membership fees, you’ll also have to risk your own trading capital to play the currency markets.
And you might lose all of that money too.
In fact, thanks to the way that leveraged trades work, you can actually lose even MORE than the full amount of your Forex trading account.
✗ A strong fishy odor.
Can you trust iMarketsLive?
Well, sometimes the best way to predict the future is to look at the past (or just Google the present):
• iMarketsLive CEO Chris Terry has a previous connection with Zeek Rewards which the SEC had to shut down for fraud in 2020.
• The VP Alex Morton has a long history with MLM companies like Vemma Nutrition that had to settle for hundreds of millions of dollars with the FTC for being a pyramid scheme. You should check out this revealing article on Morton that shows the reality of being a professional MLMer when he was with his last company.
• iMarketsLive is banned as unauthorized in Belgium, and also received warnings from other countries like France.
• When I first published this article, iMarketsLive had an F rating (very bad) from the Better Business Bureau due to having so many complaints.
Then all of sudden they had an BBB rating of “A”, mostly thanks to a bunch of positive reviews that showed up around the same time (many on the same day).
Coincidence? Yeah, right.
As another reviewer pointed out, prob’ly because IML asked their members to spam their BBB page with positive reviews to drown out the negative ones.
Nice try fellas. Not shady at all.
Also can’t forget that iMarketsLive is an MLM which means recruiting other members is highly encouraged.
Here’s one of IML’s top earners explaining in detail how it’s done:
Ask yourself: If it was just about forex trading, why teach people how to recruit at all? Why not just trade forex and make a ton of money?
I dunno… maybe cuz:
Most retail traders lose money in the long run, so the real money is made by getting other people to join.
Is it really, though?
- 87% of all IBOs make an average of $4.30 per month (you read that right, less than $5/mo).
- 98% of all IBOs make less than $115 per month.
- Only 0.3% of all IBOs earn more than $30k per year.
Not exactly what I’d call a high-probability trade.
But if that doesn’t make you puke in your mouth a lil’, this industry might be for you.
If, however, you’re looking for a more legit and reputable business model… my two cents?
LegacyFX Review – is legacyfx.eu scam or good forex broker?
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Trading Accounts & Conditions
|Account type||Minimum deposit||Minimum trade size||Maximum leverage*||Spreads|
|Silver||$500||0.01||1:200||from 1.6 pips|
|Gold||$5 000||0.01||1:200||from 1.0 pips|
|Platinum||$25 000||0.01||1:200||from 0.6 pips|
* Such leverage ratios are available to professional clients only.
LegacyFX offers several trading accounts, depending on the initial deposit amount. All of them provide micro tradable lots and a choice of variable or fixed spreads. Besides, the broker offers swap-free accounts for investors of Islamic belief.
As you can see from the above table, investors can start trading with LegacyFX by investing $500, which is a bit high, and so are the spreads. As most of y0u probably know, most brokers offer spreads in the average range of 1.0 – 1.5 pips on EUR/USD. So, one has to invest at least $5 thousand bucks with legacyFX in order to get decent spreads. You’d might take a look at the real-time spreads of some of the leading forex brokers and choose another one with lower trading costs and license to operate as such
The Company. Security of Funds
A.N All New Investments Ltd.
The broker was initially launched as a brand of Leverate – the developer of the Sirix platform. Now it is owned by another Cyprus-based firm – A.N All New Investments Ltd., which is also regulated by CySEC.
Cyprus has become a very popular hub among forex and binary options brokers due to its well-balanced tax and financial regulations. Brokerages licensed by CySEC must comply with certain rules. First, they must meet capital adequacy requirement of €730 000 and maintain it. Besides, they are obliged to report transactions, keep client funds in segregated accounts, follow certain AML policies and meet a number of other requirements.Furthermore all licensed brokers are members of the Investor Compensation Fund, which may cover a maximum of 20,000 EUR per person in the event of broker insolvency.
In addition, as Cyprus is part of the European Union, MiFID regulations apply, and all CySEC regulated are free to operate in all EU Member States.
We should also note that LegacyFX aslo operates an offshore brokerage brand via the website www.legacyfx.com. It is licensed by the Vanuatu Financial Services Commission (VFSC).
LegacyFX uses the MetaTrader5 (MT5), the latest platform issued by the Russian fin-tech company MetaQuotes. The software enjoys increasing popularity among both brokers and traders in recent years for a number of reasons. The MT5 has kept most of MetaTrader 4’s valued tools and features – the charting is almost the same as that of its predecessor, and it also provides Expert Advisors for automated trading. On top of that the MT5 allows trading in exchange-traded stocks and derivatives from one and the same account.
Methods of Payment
LegacyFX supports credit/debit cards, bank wire transfer as payment methods, as well as e-wallets such as Skrill, Neteller, and Trustly.
LegacyFX is a CySEC-licensed broker that offers online trading in wide range of products on the industry leading MetaTrader5 platform. According to us, the main drawbacks with regards to this broker are the wide spreads. To sum up the above, here are the advantages and drawbacks with regards to this broker:
|Solid regulation||Spreads above the average|
|Wide range of tradeable instruments||Initial deposit required a bit high|
|Access to the MT5, higher leverage available to professionals|
FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.
Trading212 is a European broker with an excellent proprietary trading platform, which is now available as an iPhone app as well (we tried it out and we loved it). Trading 212’s customers enjoy fast execution a vast selection of trading instruments.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.
Is forex trading real or a scam?
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I’am just back from one of these Greg Secker “Learntotrade” events as I really had to see for myself what the fuss was about, since Iam ramping up providing education at request and finding this offering increasingly quoted in conversation from time to time. Hmm..
After 45 minutes, I decided to leave.
I wouldn’t say what he is doing is a scam per se, hes quite direct about what he is offering too but to any market participant of worth or well educated person of self-worth it is absolutely intellectually dishonest nonsense. Trying to offer a package that allows you to “sit back and reap the pr.
Forex Precog Review – SCAM OR LEGIT?
Forex Precog Review
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Forex precog is the trading procedure in Forex market that you can utilize for making profit. When you are making investments related with shares or Forex trading you need to know that there is some amount of risk associated with irrespective of the method or strategy that you follow. All the trading methods can provide you with some surety but that cannot be considered as full proof methods and so you need to ensure that you do not invest all that you have in hand for trading. This is necessary for you to save some money aside or do not use for trading. When you invest it should not be like any loss can make you bankrupt.
What is the System All About
The major issue that you face with many of the procedures which are used for the trading of Forex is that they can easily outdated and also may have so much of gap that people can easily get disturbed. One of the best things related with Forex precog can be considered as the fact that it is the system which is based on the area of science. It is something which is designed for fulfilling the possibilities that arise in the volatile market. This is the system which can actually create huge and real amount of profit. It can even assist in checking the large volume of information available at much greater speed. The principle which is used behind this kind of the system is really nice and is the major reason for business professionals to have craze for the Forex. The given efforts of marketing can be considered as strong and also the team can easily attempt to get the concentration of world.
The system ensures that anybody who is doing Forex trading in the volatile market can easily do the trading and get really good amount in the form of profit. Most of the individuals feel it really hard to deal with the system and also the things related with that when it comes to the trading in Forex market. All the issues related with that can easily be overcome if you are making use of this program.
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Most of the people learn in effectively availing platform for the getting the complete benefits for earning good amount of profits. It is also possible for you to even study about the exact about 100 percentage signals. These signals can really help you out in getting the trading done in the way you. There is an accelerator system available with it which can be easily useful and can also avail three major strong and popular signals that are helpful in discovering all the possible setups. It is also possible for taking benefits of the entry points that are possible and also in reducing the risk associated with it. This is the system which can advise users related with the market and also the way for making decisions related with profit. This is the system which is capable of advising users in such a way that they get the market and also take decisions related with profit making.
The Forex precog is the one which can provide you with things which are much easier for you to follow so that you get maximum possible profit. The system can easily be availed in such a way that there is no space available for rooms. It is a physical product which may be shipped and you just need to watch the DVD that can provide you with all information you need.
It is not the program that can make you rich overnight. It is the system which is the trading unit in the later on can really do the things you want to do.
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