You were probably searching for some information on iMarketsLive and found my review.
This company has been around a few years and has created a lot of buzz, especially in the trading niche.
Whilst iMarketsLive offers financial trading software to help people with their trades, which is not unusual (i.e.) there are plenty of these types of software products in the market place, they also offer a network marketing program (MLM) which is built into the service, that is designed to get you to recruit more people into the organization.
Here’s an excerpt from their compensation plan …
Your financial income in iMarketsLive is directly related to your efforts in sharing the products, and building a sales organization.
So whilst you might be interested in learning the Forex industry, you might not understand that there is also an MLM component. MLMs are not easy to be successful with and you have to plan & set goals in order to make it work.
One of the biggest issues I see with people joining MLMs is that they don’t do very well and then complain about them. In some cases, the complaints are warranted.
Other times, the fault lies in the fact that people do not get the training that they need and join a MLM without doing any research.
Meaning, you may be unprepared.
And whilst the Forex market seems to be incredibly lucrative, especially if you have some magic piece of software, it often doesn’t play out the way you thought.
Most Forex training programs allow you to have a dummy account where you’re not using any of your own money, but play money, however it’s always just a matter of time until you have to lay down your own hard earn cash.
You can also check out the step-by-step training that helps me earn over $10,000+ per month working from home.
An iMarketsLive Overview
A man named Christopher Terry is the CEO of International Markets Live.
Their story goes a little something like this.
A small group of traders was struggling and they decided to create this company in hopes of helping other people to succeed in the financial markets.
Although it sounds like a touching story, I’m sure the opportunity to start an MLM and make millions on people joining the affiliate program had nothing to do with the creation of iMarketsLive.
Terry was also involved in other MLMs and was successful with Amway during the latter half of the 90s.
We now move on to the product and services section of the review.
Products & Services
This is one of the most important sections of any review because a company does not have a legit product or service then we have problems.
As you may have gathered already, iMarketsLive provides live trading and education training programs in the Forex business model.
Sounds great right?
Let’s take a closer look.
You really only have two options to join iMarketLive and take advantage of their membership program.
1. Platinum Package – $195 One Time Fee & $145 Per Month
2. IBO Platinum Package – $200 One Time Fee & $150 Per Month
Here is what you get with the member ship programs:
• FX Signal Live
• Live Training Room
• Harmonic Scanner
• Trading Education
I saved the best for last.
The only way to get the IBO Kit and Compensation plan, you have to purchase the IBO Platinum Package.
This is one of the most frustrating parts of iMarketsLive so far.
You have to spend more money just to try your luck with the recruitment side of the business.
Sigh…I mean come on.
Let’s take a look at a few of the ways to earn with iMarketsLive.
Recruitment Commissions Payout
There is a 4 level Fast Start Payou:
• Tier 1: 30% via Personal Recruitments
• Tier2: 10%
• Tier3: 5%
• Tier4: 5%
Here is a breakdown of the recruitment requirements.
1. Unlock 1-4 Tiers of the matrix: Recruit 2 members
2. Unlock 5&6 Tiers of the matrix: Recruit 6 members
3. Unlock Tier 7 of the matrix: Recruit 9 members
4. Unlock Tier 8 of the matrix: Recruit 12 members
Although there are 8 different ways of making money through the compensation plan, there is a lot of recruiting involved and I’m not a big fan.
Compensation plans that revolve around recruiting seem to end up failing miserably; unless of course you have been trained in said skills.
If you have any questions after reading this section you should take a look at the iMarketsLive Compensation Plan pdf.
Things I Liked
• Strong compensation plan if you have been trained in recruitment and lead generating skills.
• Relatively transparent, which usually doesn’t happen with trading niche MLMs.
Things I Didn’t Like
• There are many negative reviews calling Terry the latest Forex scam artist.
• So many stock marketing and trading MLMs have failed in the past or shunned by government authorities.
• There are lots of risks when trying to play the stock market.
• You only make money through recruitment, at least from the MLM side of things.
• Their affiliate program is not very newbie friendly.
SCAM CLAIM LINKS:
RipOff Report Article: The author is claiming scam and to get out now because the business will be shut down by government authorities.
BBB Link: The Better Business Bureau only has an address link to their name and has not provided anything else.
The Final Verdict
Ok, I have to admit that iMarkets Live is not a scam.
It provides a service and there is a membership program as well.
This is not a pyramid or anything of the sort.
With that being said, I cannot recommend it for the simple reason that there is so much risk involved.
I have never been a fan or will be a fan of an MLM that provides trading services.
To be perfectly honest, I feel that you are better off investing in safe ventures that promise returns.
Not only that, there are plenty of MLMs out there that will not charge you $150 a month just to purchase their services.
This means that you will have to make at least $150 a month just to break even.
Believe it or not, the vast majority of people that try out these Forex type companies lose money.
That is why I cannot sit here and tell you to try it out.
Take a look at this review and see for yourself.
Although it is my #1 recommended program, the results speak for themselves.
You can also test it out for FREE!!!
If you have any experience with this company or any MLM like it, go ahead and leave a comment.
If you have any questions or want to join the conversation, feel free to fill out the form below.