Is iMarketsLive a SCAM? Should We Call Them a Forex PYRAMID SCHEME?
With each passing day, a new get-paid-to (GPT) website is being formed somewhere in the information highway, bringing along a fresh new hope of legitimate opportunities to people wanting to make some money online. The sad part here is that not every one of them will deliver their promise or will live up to our expectations.
The worst thing that can happen to anyone looking for an opportunity to make money online is to come across a scam company and fall prey to its schemes. When trying to look for a platform to use, it is of paramount importance that we know how to distinguish a scam from a reputable online opportunity.
This is my motivation, to enlighten people like yourself on the various online money making opportunities on the Web, one-at-a-time. To educate the people on what they can expect, but best of all how they can protect their interest in the best way possible.
In light of finding online opportunities to make money, I suggest that you consider first affiliate marketing. Out of the manifold of online opportunities I tried before, it is only through this platform offered by Wealthy Affiliate I was able to realize my financial success.
The affiliate marketing course they offer is complete and very comprehensive that even the most seasoned pros in the industry find it valuable and are learning from it also. Therefore, there is no reason at all why a newbie and the completely clueless in this industry will not learn from it.
Remember, the first step to securing your success is to learn first. The best way to learn this is via the Wealthy Affiliate course. After all, it is free to start!
iMarketsLive Summary Review
Founder: Group of Forex Traders, but not Christopher Terry
Price: $195 one-time membership fee + $145 a month for Customer Platinum Subscription / $200 one-time fee + $150 a month for IBO Platinum Subscription
Best For: The interest of the company.
Summary: iMarketsLive as a company may actually qualify as a legitimate business, but I can't seem to find any compelling reason why I should endorse this to anyone. Various regulatory commissions from different parts of the globe has flagged them as a pyramid scheme. Another serious reason why you should veer away from this company is the fact that there is no solid proof or evidence that shows someone has earned substantial amounts of money from their trading platform.
What Is iMarketsLive About?
When you don’t have any background information about this company, the very first thing that comes to mind. They are otherwise known as “International Markets Live”.
iMarketsLive is a network marketing and a forex trading company. By virtue of the MLM business model they compensate their members.
This company, currently headquartered in the financial capital of the world New York, is making bold claims that the manner in which they structured their business will help their network members reach financial success, and thus become a step closer to their goal of becoming rich.
Currently, this forex trading company is under the supervision of a professional trader, Christopher Terry. However, he is not its founding member.
The inside story behind the creation of this company that there was a certain group of traders who envisioned on coming up with the ultimate way of making money online. They came up with iMarketsLive.
It is a trading platform that will enable people to trade on the markets right from the very comfort of their homes
Christopher Terry’s Background
We don’t qualify Terry as a veteran in the MLM sphere, however, but he is taking pride on his exceptional track record in the world of finance. He’s got his hands in network marketing in the 90s.
But his vehicle towards fame was his 18 year solid experience in trading, earning for himself an enviable 8-figure amount.
Today he is more than eager to share his best kept secrets and best practices in trading to everyone through iMarketsLive. As of this writing, iMarketsLive has now the following of 55,000 customers. The company has decided to expand its operation in over 120 countries across the globe.
What Can iMarketsLive Provide You With?
These people offer relevant training programs intended to help traders learn the rudiments of forex trading. As of this writing, these services they have on offer can be classified into 4 major categories:
Live Trading Room
The most successful of traders hold live training sessions and webinars.
This is a software application primarily designed to show traders the currently prevailing forex market patterns.
This is a library of forex videos, articles, and webinars
FX Signal Live
This is an automated software programmed to trade on your behalf.
How to Get Started with iMarketsLive?
You need to start as an IBO (iMarketsLive Business Officer). As a full-fledged IBO, you entitle yourself with the right to earn commissions and promote their products. This necessitates you to only pay $15 to get started, with an additional $15/month membership fee.
It is affordable, yes. The only drawback is that this does not give you first-hand access to the product offerings.
Your IBO fee payment and your purchase of the Platinum Package will have you join the company as a customer and thus will give you access to their product. This will have you pay the $195 start-up fee, with a recurring $145 monthly membership fee.
If you are a member of this networking team, you have 3 ways to earn:
- You can earn through FOREX (foreign exchange) trading using their custom software, FX Signals Live
- Recruitment commissions
- Residual commissions
Individuals who are aspiring and wanting to take chances on this opportunity are given two options on the package products to choose from. At the time of this writing, these are the current costs for these
- Platinum Package
You are necessitated to cough out $195 as front-end fee and then following that is $145 per month.
- IBO Platinum Package
This requires you to pay a $200 front-end fee with a recurring $150 monthly fees.
Any of the two packages that you will avail will entitle you access to all their offered and provided trading software, including training materials. If you are aiming to earn commissions, you need to opt for the IBO Platinum Package.
Doing the Math on this now, you will realize that you are slated to shell out close to $2000 annually, and this is just for your membership to the program alone. This is a hefty amount of money to use for your investment in their platform.
It is kind of painful to let go of that amount, most especially when you are not earning so much from your regular job or don’t have much money to use for this purpose. It is such a relief to know though that
It is such a relief to know that there are many other ways to earn from the Internet and develop your own online passive income in the process. I highly recommend that you consider affiliate marketing.
If you are interested to get into the details of the iMarketsLive compensation package, please refer to this Youtube video demonstration i sourced for you.
The Ugly Truths About iMarketsLive Revealed
No Tangible Proof of Someone Earning from their Platform
When joining any online opportunity, your foremost motivation is to earn money and in the long run develop for yourself a passive income online, right? If initially, you are not getting this, then it is not worth it.
As for the iMarketsLive opportunity, you won’t even glean from their official website that those who joined them earned a lot.
The following screenshots above reveal that most of their customer testimonials revolve around the education they received from the library they were given access to.
Their Platform is NOT USER FRIENDLY
Okay, forex trading in itself is a jargon to many of us. It entails complex principles and all. It requires an in-depth understanding of how things work here. Simply put, embarking yourself on this kind of venture requires more than just what your impressions are about this industry.
Without proper knowledge and experience, you will never stand a chance on good success in this field. If you seriously want to dive into forex trading, know that there is a manifold of things that needs to get done first.
Unfortunately, I don’t agree with what iMarketsLive is branding itself as. I really don’t see their platform as the go-to tool for this purpose.
Exorbitant Price Tags for Their Product Offerings
I just find it preposterous that iMarketsLive team are making a bold claim as to the reason why their software comes with a hefty amount -- that it can help people earn good money from foreign exchange trading without exerting an effort.
This is the very reason why they are able to entice people to pay for their one-time $100 fee with monthly recurring fees. People who are lured into this are looking forward to that opportunity of earning much with them not having to put much.
Failed Ponzi Schemes
As mentioned earlier, even before Christopher Terry was able to put up the iMarketsLive platform, he is already involved with two other failed networking firms. The office of the Securities and Exchange Commission had to issue a press release and indicate the reason why they had to shut down the operations of ZeekRewards.com.
The agency also seized some of their properties valued at $600 million.
Don’t know about you, but if you ask me I would not allow myself to become involved in a “seemingly good opportunity” that is run by someone who has previously defrauded people millions worth of dollars.
If you are seriously interested in developing a long term business venture to anchor your future on, let me introduce you to affiliate marketing and why this is such a better online opportunity to consider.
What I Like About iMarketsLive?
For the sake of being fair to the iMarketsLive platform, I need to provide my audience with something that I really like about them. Or anything they do that I think is something commendable -- that I should not deprive my audience off.
It is been my practice to always present both sides of the coin, the positive and the negative aspect or side of any online business opportunity. Every business organization has them, no exemption here.
Unfortunately, however, I try to look at this, there is nothing really positive in this company that I can extol them for. As much as I want to find something to compliment them on, there is nothing really I can find.
Is iMarketsLive a SCAM?
Avoid this company at all cost. I am not going to encourage anyone to even consider their luck on this platform. The company is in the habit of shady business practices. Hence, regulating bodies from the countries they are operating have their eyes and ears on their business. Simply put, they are being closely monitored.
Due to their unregulated activities, proper agencies have labeled them as pyramid scheme or Ponzi scheme. This means to say that the opportunity they are offering does not have your best financial interest, so it would be best that you keep a safe distance from them.
How I Make Money Online?
When you fully understand how the MLM business model really works, you will agree with me in saying that this particular business structure is not the best vehicle to use to reach your goal of financial wellness.
Multilevel marketing is favoring so much the company itself and it's business interests, oblivious of the fact that it also needs to promote the interest of its network members as well. So forget everything you are made to believe about MLMs.
If you are seriously looking for the best online money making opportunity, I suggest that you try affiliate marketing instead. As an individual who’s already tried both the MLM and affiliate marketing worlds, I know that I am in the position to really tell which one is the far better option.
- You don’t need to recruit to get ahead
- A chance to earn bigger money
- No complicated compensation plans
- Commissions can get as high as 100%
- You are not required to buy starter kits
- No joining fees
- Work at your own pace
- Promote any product or brand you like to a global audience
- A chance to promote products or brand you are passionate about
- Make money while you sleep
- A chance to earn passive and residual income
My purpose in enumerating some of the good points you get from the Wealthy Affiliate marketing opportunity is for you to get the whole picture -- the system is designed to work in your best interest.
The Wealthy Affiliate is a community of dreamers, but these people are in touch with the real world. They understand how the world works. It is made better in the sense that you kick it off with no strings attached as it gives you an option to have a free trial.
Test the system all you want in all aspects of it, discover how it works until you are fully satisfied. Decide to try it out when you are ready.
This program helped me and others Make A living Online and some of it even quit their Full Time Job. You will learn how to build a Thriving Online Business step by step so stop making excuses and Join Me Now.
Foreign exchange trading is not something you can learn overnight. It is complex and necessitates that you have good background in finance, too. So much so that venturing to an MLM company that offers training support for forext trading entails a lot of risk. Would you even trust a company run by someone who's defrauded a lot people before? I don't know about you but I wouldn't. Please share your thoughts about this company using the comment section below.