Is Imarketslive a Scam? Truth Revealed

Is Imarketslive a Scam? Truth Revealed

Is Imarketslive a Scam? All you Need to Know!

This program that was founded by Christopher Terry has been described by most people as the ultimate or most prominent forex trading service available. But, Is IMarketsLive A Scam? You will find it disheartening to know that this is just a plot by Terry to make huge fortunes from people. Most people have concluded that the IMarketsLive official website just tells potential traders what they want to hear.

This program like most of the other MLM companies promises members huge fortunes and most times unrealistic monetary expectations that cannot in any way be achieved.

Review Summary; this website claims to offer forex traders packages and products that would help them succeed in their trades.

Product Name: 
IMarketsLive

Founder: Christopher Terry

Product Type: Forex trading

Best For: Promoters

Price: $15 to $195.

Rating; 30/ 100

Recommended; No

 


What Is IMarketsLive?

Otherwise known as International Markets Live, IML was created in 2015 by Christopher Terry and claims to offer a wide range of services that would help forex traders trade on the market. According to their official website, they offer traders live trading rooms as well as videos where acclaimed expert forex traders like Terry trade.

As stated by the official website, several software solutions have been developed. Some of this software include; FXSignalLive which is an automatic software that would be able to mirror trades that have been taken by experts from IMarketsLive.

The Harmonic Scanner is another software package that has been designed to identify most of the prominent key harmonic patterns right in your MT4 platform. The website promotes these custom-made tools as exclusive meaning that users can get access through paid membership. According to the website, membership for these exclusive services is about $195 which comes with a monthly fee of $145.

It has been discovered that the creator of this website Christopher Terry had entered into a partnership with Scott Carney who himself is a well-known Harmonic Trader. This collaboration led to the creation of the Harmonic Scanner.

It has also been discovered that Carney, on the other hand, had developed his own harmonic scanner which he named “Formation Seeker.” The Formation of Seeker is sold at a much lower price of $99. The question now is; would you rather not buy this software from the creator than buy from Terry who sells his at a higher price?

Is Imarketslive a Scam

What Are The Products That IMarketsLive Offer?

According to its official website, IMarketsLive focuses on the trade of forex trading software. They claim that the products they offer are worth thousands of dollars because they claim that users would use them to make huge sums in the coming weeks.

According to the official website, IMarketsLive offers its users the following packages or products.

The FX Signal Live; according to the website, this software helps to make the trading and investment process shorter. Rather than have people spend a considerable amount of years to learn about trading and investment, this tool makes the process a lot easier than normal.

The Live Training room; this product or the package of the IMarketsLive is exclusive for only members that have opted for the paid membership. It shows the CEO of IMarketsLive Christopher Terry, offer all paid members financial and trading advice.

The Harmonic Scanner; this package or product is able to identify the patterns of the market at the same time ensuring that these patterns are explained to the traders in simple and easy language.

Training Education; this product has been made available for only paid members. It offers them an in-depth and well-founded analysis of the company along with training modules, webinars, articles, and videos that are designed for members to review.

Is Imarketslive a Scam


How Their Compensation Plan Works

Like most of the other MLM websites, the IMarketsLive has a structure. There are also several levels that affiliates would have to get to before they are able to earn a commission. The levels and their compensation plan include;

  1. Level 1; affiliates that have been personally sponsored get a commission of 30%.
  2. Level 2; affiliates get a 10% commission
  3. Level 3; affiliate stand to gain 5% commission
  4. Level 4; affiliates stand to gain 5% commission


According to the website, the residual commission that is provided on their custom-made trade is three by eight (3 by 8). That is three branches each of them having their own branches. The compensation plan works in such a way that any time this recruits of each affiliate pay for any of the subscriptions, the affiliate gets about 8% commission.

To access the levels, you would be required to move up with the company. The official website clearly reveals that each affiliate that has been able to unlock all the levels would have gotten about 12 new affiliates or recruits under them.

This clearly means that the website is simply like the other MLM websites that encourage affiliates to convince others to register on the website and also pay for monthly subscription.


How IMarketsLive Works

IMarketsLive works in such a way that affiliates would have to join and pay for subscriptions. Potential affiliates would be required to either join as IBO’s or as customers. For IBO, you will be required to pay $15 for the subscription package and a reoccurring $15 for a monthly fee.

For those who want to be customers, they would be required to pay $195. The money would be for the Platinum package. Also, they would be required to pay a monthly fee of $145. Subscribing for this package unlocks what they refer to as the “multiple level earning potential.”

If you take a closer look at the membership process, you will find out that you cannot become a member of the website without being referred by someone.

This is put in place to ensure that the funds you pay for various products are passed to the top. When you join, you would have to register under an affiliate and would be termed a “downline.”

Like most of the other forex websites that claim to teach individuals how to trade, the funds that are paid by new recruits are used to enrich those at the top while only a small percentage is allowed to get into the hands of the affiliates.

With this in mind, we can conclude thatIMarketsLive was not created for traders, it was created for those that are able to convince or market products. The main objective of the company is to search for new recruits that would be willing to pay for subscriptions as well as monthly fees.

Unknown to most people, once you become an affiliate and you have been able to make little money from the tools and products as well as commissions, they would pressure you to become sales personnel.

Instead of making use of the acclaimed trading tools, you will be required to network the website to others so that they may become members as well.

The compensation plans that have been put in place are not actually for traders; they are for marketers that have successfully convinced others to join the website.

Is Imarketslive a Scam


Why IMarketsLive Could Be A Scam?

Most people have referred to this website as a scam. We will point out some of the salient reasons why they say so;

The name behind the website has a dark past; Terry prides himself as one of the leading forex traders and has claimed to have made over $80 million from trading. He also claims to have traded on a corporate account and claims to have made over $50 million from the trading of forex. The question most people have asked is if really Terry made his acclaimed fortune through the trading of forex.

After a careful investigation was carried out, it was discovered that there are no clear or sufficient records to back up Terry’s claim. One thing most people have wondered is; if he (Terry) were to be a well known and respected trader that has made millions from the market, would he not have been interviewed in any of the news stations? Traders like Warren Buffet and George Soros who are well-known traders have been interviewed countless times.

They are not focused on trading but on the promotion of the website; unlike the claims written on the website, IMarketsLive does not offer traders or would-be traders tools and strategies that would help them become efficient traders, rather, it pressures them into marketing the website and convincing others to become members. They are simply focused on selling their products and packages than they are on actually helping their members become efficient traders.


Pros And Cons of IMarketsLive

Pros;

  • Well organized products and packages

Cons;

  • It has a contrary earning plan
  • Does not actually educate traders
  • Was not developed for traders but for marketers

 

Conclusion

The question remains, Is IMarketsLive A Scam? Well, on their website, they claim that affiliates can earn over $125,000 in just a week when they subscribe to any of their plans. Also, in their disclaimer, they mention that they do not guarantee affiliates any exact amount of money. Does this show they are serious? A legitimate website would not put up contents that are contrary to their promise.

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18 thoughts on “Is Imarketslive a Scam? Truth Revealed”

  1. Hi Pedro – thanks for this review of Imarketslive.  I had not heard of this one before, and now I know to stay away from it.  It’s not good when their business is geared towards marketing and not trading.  That can be a bit misleading.  Thanks for this information, it is very beneficial.

    Michele

    • You are welcome, Michele, glad you enjoyed reading my post about “Is Imarketslive a Scam”.

      I have 2 easy to follow tips that prevent/ help people not to fall for internet scams.

      #1 Is to do research prior to sign up to any sort of online program.

      #2 Do not fall for anyone claiming you can do hundreds of dollars overnight without any type of hard if anyone had that recipe he surely would’t share.

      Cheers

      Pedro

  2. The huge membership fee alone is enough to make me think that IMarketsLive is a scam. If I understand it right, it costs $195 to sign up and $145 per month to remain a member. The original $195 is more than enough to buy an assortment of good books about Forex trading, and the information in the books would probably be a lot better than this overpriced program.

    • Hi Pascal,

      The problem with programs like IMarketsLive is that they use Machiavellian marketing techniques in which they almost hypnotize people into subscribing to their product.

      They tell success stories in which people made fortunes from day to night. People who are less well-informed, or who are struggling, people who need fast money, try their luck in an act of desperation.

      My suggestion is, to your own safety, stay away from any type of MLM or pyramid scheme.

  3. Hi Predo,

    Thank you for taking your precious time to write this comprehensive review of Imarketslive. At first, l thought Imarketslive is a forex trading platform but it turns out to be an MLM scheme that promotes to recruit members. I am not a fan of MLM scheme and definitely will stay out from this company. Further, the membership fee is not cheap and some more there is a monthly subscription fee. I will dismantle this information to my family and friends.

    • Hi Shui,

      Unfortunately is a common thing out there, the web is filled with this sort of programs trying to prey and rip off peoples money.

      the worst is that those who fall into these schemes are desperate people with a lack of money looking for a quick solution.

      These are the most desirable targets and end up getting worse than they were before falling into the Scam.

      Cheers

  4. Goimg through the review if I markets live is scam, well I think some things are not realistic about them like members will earn 125000 per week upon subscription to any package. This is too good to be true and I think may not be realistic to members. Anyone who wants to join van do that at his own risk. 

    • You absolutely right, not everything that shines is gold right!?

      I would never sign up for a program that promises easy 5/6 figures a month right of the bat… too good to be true. 

      Thank you for your comment.

  5. Hi Pedro,

    I did not know about IMarketsLive before reading your review. After reading your review, I came to an opinion that IMarketsLive is nothing but a scam and It is really good to know about it before dealing with it. I am surprised to see how fake their words and works are. We should stay away of this kind of fake businesses. 

    Thank you so much for making us aware of it. Also, I liked your recommendation which is Wealthy Affiliate. I am beginner at WA and I am loving it day by day as well as making money form here. This is the best place for both earning and learning about affiliate marketing.

    Thanks again 🙂

    Radeet

    • Hi Radeet,

      There are several good online programs out there, but IMarketsLive is not one of them. There is no value for the money! You can get all they offer for a lot less.

      People must be aware that in order to make money online people need to work, there is not such a thing as making money online overnight. 

      Anyone looking for an easy and fast way to make money online will most likely fall for a scam.

      Wealthy Affiliate is one of the good places because it basically teaches you how to make money through affiliate marketing and also provides you the tools to do it.

      Make no mistake,  It will take time and effort but is the right way to do it.

      Cheers
      Pedro

  6. Hi Pedro, I have read your article and I found here lots of information about Imarketslive which will help me and help others from becoming a loser, After reading your article I realized that it’s a 100% honest review about Imarketslive and it’s a scam site. I agree with you that the legitimate website would not put up contents that’ contrary to their promise. Thank you very much for writing the article.

    • Hey, you are welcome, glad I could be of help!

      I have a golden rule, either for Imarketslive or any other shady type of online program, if something looks too good to be true … it’s not The best way not to fall into scams is to be 100% skeptic, check & double check 😉

      cheers

  7. Hi Pedro,

    I’m French.

    A month ago, someone told be about iMarketsLive

    I was curious, so I did some researches about that.

    In France, there is a factory called “Cov” which is partner of iMarketsLive.

    I’ve heard about the tools (harmonic scanner etc) provided by IML etc…

    So, I joined the thing, I paid 190€…

    But I saw that the AMF (France’s authoriy of regulation), was warning people against this society , and not only in France, but also in other countries, Spain, Belgium etc…

    They said it’s a pyramid scheme, a Ponzi, a scam etc…

    So I’ve decided to quit this thing, and while quitting the thing, I saw messages like

    “You are giving up on your dreams, it’s sad to quit you’ll fail in your life” etc…
    So I found it very suspicious…

    Thanks for your post anyway.
    Let me know, if you want to tell me your point of view, by the way.

    Thanks.

    • Hi Sebastien,
      Thank you for taking the time to comment on my post!
      Every time i find a new make money online opportunity, and I also play a bit with crypto, I make deep research before I even consider joining.

      I must confess I do this now because in the past I fell for some scams.

      One place I always search for feedback and complains about digital/online products and services is on the Better Business Bureau.

      The reason why I consult BBB is that I write all my content in English.

      I didn’t know AMF (France’s authority of regulation) but glad that you pointed it out so I can also research for new scams and schemes there 😉

      I would keep my money away from anything associated with iMarketsLive and its clones.

      Wish you the best

      Cheers

  8. The name alone makes me expect that this is trading software. But it appears that they are just an MLM looking to recruit people to recruit more people. I suppose some will also buy the software and training. But on top of that, they want $145 a month, that is insane, especially for someone just trying to get started.

    I really don’t like MLMs at all, so I think I will stay away from this one.

    Thanks for this useful information and the SCAM warning on this product.

    • Hey Curtis, 

      I feel about the same thing! 

      The way I see it, they need to charge the $145 /mo to generate recurring fees. That way they can pay %  to members build up the MLM. 

      There are more in-depth courses out there (cheaper as well) for anyone that wants to learn about trading either forex or crypto.

      Thank you for your comment.

      Cheers

  9. I’ve been to online programs dealing with Forex and cryptocurrency before, like for example USI-Tech which was recently shutdown its operation by the Feds in the USA. Looking at iMarketsLive, it reminds me of USI-Tech although it’s more on Forex rather than cryptocurrency trading, but it has the same scheme wherein people are focused on getting investors and earning commissions from the money invested in the game. Soon, like USI-Tech, this company will hit the radar system of the US Federal Trade Commission and will be shutdown soon, too. In my opinion, before you burn a lot of money and time dealing with this company, it would be better if you learn how to build a real business online like learning website building and affiliate marketing, than spending time with companies like this.

    • Hi Gomer,

      There is a thing that my Grandpa once told me “son if something looks too good to be true, it probably ain’t”! 

      I always check and double check before taking any step regarding making money programs.

      My answer to the question Is iMarketsLive a scam? I would’t spend a single dime in any alike program!

      Cheers

      Pedro

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