People Are Asking: What Is iMarketslive.com?

16 Sep

Have you ever heard of iMarketslive? It is an unusual company that combines Forex (Foreign Exchange) and cryptocurrency trading with MLM.

I was intrigued by the combination and decided to check out the company. Read on for my review.

Name: iMarkets Live.com

Website: www.imarketslive.com

Founded by: Chris Terry in July 2013

Location: New York City

Cost: $15.00/month to start; $225 for upgrade, then $164.95/month

Rank: 2.5 out of 5

A few years ago, I invested in some stock and spent time each day studying the stock market. A friend turned me on to a Forex site where the traders discussed trading techniques and then took you into the live trading room so you could watch the action.

The instruction was good. I began to be able to spot when you should trade,Forex logoaccording to what the chart showed you. However, I feel I just scratched the surface of the subject. The learning curve is steep.

I thought perhaps this company would be a good one to use to advance my education, so I looked into it.

What Is The Product?

IML’s product is a financial trading software. It is designed to help the trader make the right trading decisions. You can go to their trading room daily, Monday through Friday, and the traders show you exactly what they are doing.

The unique part of this company is that they also included a MLM (Multilevel Marketing) program, allowing you to receive commissions on others that you recruit into the program. It’s a great idea — does it work?

The company’s founder, Chris Terry, started the company in July 2013. He started trading in 1995, and left his construction company to make trading his full-time job in 1998.

A few years ago, the company appointed a new Vice-President of Sales. His name is Alex Morton. He was a wise choice, as he knows MLM inside and out as has had years of experience in direct sales. He is now Executive Vice-President.

A new man, Ivan Tapia, took over Alex Morton’s job with sales. Another MLM expert, he provides good leadership for that part of the company.

You can join and have the right to promote and earn commission on the products for $15.00; then you pay $15.00/month. However, you don’t receive any access to the product itself unless you purchase the platinum package. It costs $225.00 to start, with a monthly fee of $164.95.

If you are serious about making IML a business venture, you need this package.

Included in the Platinum package are four different programs: iMarkets Live Academy, iMarkets Live TV, Swing Trades and Night Owl Sessions with Chris Terry, and the Harmonic Scanner tool. There are also add-ons which can be purchased separately for an additional monthly fee.

scale: large $ on one end; 6 small $ on other

iMarkets Live Academy

An in-depth educational program, the Academy includes the company’s entire library of webinars, training modules, videos, and articles.

There are over 100 educational videos about both forex and crypto trading. Topics are broken down step-by-step, and they come in beginner, intermediate, and advanced levels. I’m guessing there is some excellent training here.

iMarkets Live TV

You are provided live training every week, adding to the training provided in the Academy. You receive almost 1,000 hours of live trading education and analytics every month. Forex is the main subject, with basic, intermediate, and advanced modules similar to the Academy. Cryptos will be covered as well. You will learn trading strategies and product training.

This program is available in eight languages at present, with the promise to add more in the future.

Swing Trades & Night Owl Sessions With Chris Terry

In this webinar, hosted by CEO Chris Terry, you will receive live financial advice. He will also show you how he’s earned millions through trading.

Harmonic Scanner

This software program helps identify harmonic patterns in the forex market. It explains in understandable terms how to identify major money-making opportunities in the market on your own.

Have you heard of the Fibonacci system? It’s a mathematical concept that scale: one side risks, the other, benefitstries to predict future price movements. The Harmonic Scanner, using Fibonacci, finds these patterns for you.

You also learn good entry points, risk points, targets, and other valuable information. You can use it to maximize your preferred trading style.

Swipe Trades

This one is a mobile app that alerts you to good trading opportunities. Using the app, you get all the details of the trade. Then you just have to decide if you want to act on the information. You will pay an additional fee for this app.

Swipe Coin

This app works like Swipe Trade, but for the crypto market. Trading is based around several cryptocurrency pairs, not just Bitcoin/USD. There is also other training material available with this app.

Swipe Coin is also purchased separately from the Platinum package.

Web Analyzer

This one is another add-on that you have to buy separately. This tool scans the forex markets in real-time and finds good trading opportunities. Then you analyze and decide if you want to make the trade.

Consider These Problems

There are some problems with IML. First of all, you can get similar trading software free from several companies. These companies make money by taking a commission out of your winnings.

Therefore, there is no reason for them to charge for the software. Because you only pay commission when you win, there is no need for you to pay a monthly fee.

Remember that the forex market is one of the riskiest investments you can make. Though you can win big, you are more likely to lose big. Even stock chartexperienced traders with lots of hours in to the forex market still lose it all at times in this market.

How can thousands of people make money on this program? If many, many people start buying the currency when the program says to buy, inflation will take its toll and the currency will devaluate.

MLM Compensation Plan

In the MLM part of the business, you make the most money on personally sponsored members, but you get paid four levels deep. Here’s how it works:

Level 1: Personally sponsored members — 30%

Level 2: 10%

Level 3: 5%

Level 4: 5%

After you recruit 12 affiliates, you will add residuals up to eight levels down. There are also bonuses.

What does the BBB say?

I checked the Better Business Bureau rating and found it was a D+. They have had customer complaints that have not been resolved.

So What Do You Think?

Is this a good opportunity? In a sense they offer you two businesses in one. You get thorough training in forex trading, and you can promote the company through a MLM that will pay you to recruit new members.

Here’s what I think:

PROS

In-depth training in forex

Chance to earn from trading and from recruiting

Decent compensation plan

CONS

Expensive! Too rich for my blood

Great deal of risk in forex

You can join the MLM for $15 a month, but you have no access to the product unless you become an affiliate

OPINION

I don’t feel this company is a scam. I do feel that reaching success in this venture will not be easy.

You can promote the business and develop a downline, and you can make money from them. However, how many people want to join a business without a product? To have access to the product, you must become a member of the Platinum program and pay the high price.

In order to build a business, you need the forex side of things. You had best study hard and learn everything you can from the training, as it is very easy to lose all your money with forex.

I read a good ten reviews of this company, including one that was all comments from users. They were mixed — some declared the business was a scam and some were pleased.

I think it’s like any business with a steep or long learning curve. Only a small percentage who join reach the money-making stage. All the ones that fail may be rather disgruntled. They may also claim the company is a scam.

If you are really into learning forex training and don’t want to research to find free teaching programs, you might do okay with IML if you stick to it. However, you’d best have a bit of money set aside for investing, not to mention paying your monthly fee. You will have to make some bucks just to cover expenses.

Though I find the stock market fascinating, I believe I will pass on this company. I think there are far less expensive ways to learn what I’d need to know.

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12 Replies to “People Are Asking: What Is iMarketslive.com?

  1. Excellent article, I have greatly leaned a new thing reading your write-up,I was trained a long ago basically on Forex trading and the method I adopted was candle stick indicators,and really it works,the Fibonacci system I read on this post is awesome the way I saw it,helping me to know the good entry points, risk points, targets, and other valuable information.I believe I can use it to maximize me preferred trading style.I salute your writing prowess and I’ve gained wonderfully from this post,I just have to reconsider going back to trading Forex, thank you for sharing this helpful article.

    • If you can internalize enough training and knowledge about forex, I certainly think it would be worth a try.  While going to the practice forex site I mentioned in my post, I was intrigued by the potential offered.  It’s just scary when you start out.  Using a simulated site where you play with “fake” money until you learn seems to me to be the best way to go.

  2. This is definitely worth having a consideration on but being an mlm business platform, I am not sure I would be able to join something like this. iMarketslive seems like a very great initiative where one can learn all the rudiments of forex as it offers deep training but them, the rsiks associated with forex is high and one can lose all the money anytime and that is too much for me to take as a risk coupled with the money I would also spend in learning all these, I’d rather not join this platform. Thanks

    • I agree — it might be  great, but the risk is great as well.  If you can learn enough about forex and take baby steps until you get established, it might be a good thing.  Scary, though — so much so that I, like you, think I’ll stay on higher ground.

  3. Imarketslive has been generating some uproar in my office lately with everyone just talking about it and how they learnt about forex through it. However, judging by all these that I have read here concerning it, it is not too convincing for me to join. Forex is a very risky business to input money into and I don’t like getting attached to all those highly risky businesses like that. Also, imarketslive mlm also seem rather not convincing too coupled with their D+ BBB rating. I’m not sure I would get involved tmwith this at all. Thanks

    • There has to be some reason why that BBB rating is so low, don’t you think?  I think the biggest danger in this business is forex.  People think they will be trained and then go out and make a bundle of money.  The training not only helps, but is essential, I’d say.  Even so, the market is so volatile and so hard to pin down I’d be afraid of losing everything.

  4. You have done your research and it’s all in the open now. The thing about multi-levels is that the average beginner is not likely to move up the levels. And again they are mostly about referrals, no product and that’s not really a quantitive business.

    This is a great eye-opener to many who are still prone to enter programs which they have not yet fully understood.Thanks for posting

    • Thanks for your comment.  Too often with these companies, they are not that easy for the newcomer.  If you have a little internet experience and a little MLM experience, you might do okay, but not knowing what to expect is not good.  Also, without having the product available, it does not make sense to me to try to sign others up.  Makes me shake my head and wonder what people are thinking.

  5. Good honest review Fran. I always get skeptical when companies pay you to recruit. It kind of monetises the word of mouth process which traditionally has been free marketing. Having said that, if the opportunity is genuine and there is money to be made then why not benefit if you have made a suggestion to someone to join. 

    The price of the apps and software from imarketslive seems excessive given it is available free elsewhere (until you make money). I would be more inclined to try before you buy with them than the company you reviewed.

    • I am with you, Peter.  I do see value in what this company has to offer, but it is ‘way too expensive, especially for those of us who start out with very little money to invest.  Aren’t the good things in life supposed to be free?  I do feel that if you are offered a chance to try something first to see if it is a fit, that’s much better than just paying your money and then finding out you aren’t at all interested.

  6. Thanks for this review, Fran.  I think you have done a great job detailing this for us.

    It sounds like this would be good for someone who already has some experience with market trading and wants to take it to the next level.

    If the learning curve is as steep as you’ve said, I think I would have to agree that it would take considerable time for someone just starting out in this type of venture to learn enough to start making some income. This would be me.

    I’m with you about the cost as well. It’s too steep and one could end up spending thousands before reaping  any significant benifits and even more before breaking even.

    I don’t know. I’ve read many articles about MLM’s and I just think that maybe one would have a better chance of make more money sooner going the Afilliate Marketing route instead with much less risk, don’t you think?

    Wayne

    • I agree with you about the learning curve.  If you already have some experience and can afford the monthly fee, this venture might be a good one for you.  As far as the MLM part, since you just recruit but can’t offer products unless the recruitee joins the Platinum program, it doesn’t do much to help you out.  I think I’d stay away from it.

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