Real, Unbiased iMarketsLive Review from an Ex-MLMer
Table of Contents
- It’s All About The Benjamins
- iMarketsLive Company Overview
- When Was iMarketsLive Founded?
- What is iMarketsLive All About?
- Pros: Why Join iMarketsLive?
- Cons: Can We Trust iMarketsLive?
- Compensation Plan: How iMarketsLive Works
- Bottom Line
It’s All About The Benjamins
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 join your new program…
Or just selling the actual products.
Cuz if you take away the fancy cars and rah-rah sessions, the reality of being an MLM rep ain’t so glamorous.
Especially since selling the typical MLM stuff like makeup or nutritional shakes is a job you can take at your local mall.
And let’s face it, nobody likes working retail.
But iMarketsLive – short for International Markets Live – is a unique MLM 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 retail job, skilled currency traders can make serious bank.
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 shit ton of Benjamins to be made in Forex.
And iMarketsLive is doing exactly that.
By 2017, they were pulling in over $6 million per month.
They’ve also been given the highest rating for an MLM, classified as a AAA+ Opportunity based on revenue and business momentum.
If you’ve noticed that too, you’re probably interested in a little more info about ’em, right?
You’ve come to the right place, brotato chip.
iMarketsLive Company Overview
iMarketsLive is a Forex trading MLM that offers various trading products and services to a global audience.
As you’d expect, their headquarters is located in the center of the financial universe: New York City, New York.
iMarketsLive currently appears in over 120 countries, is translated in 8 major languages, and has 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?
Well, they do.
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 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?
International Markets Live, Inc. (iMarketsLive) was founded back in 2013 by CEO Christopher Terry.
An odd thing about iMarketsLive’s corporate website is that it 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.
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 2012, Mr. Terry made the decision it was time to act on this Philosophy, and International Markets Live, Inc. was born.
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 make the most money in an MLM are the ones who are at the top and recruit the largest downlines.
This also might explain why he was reportedly a big promoter of Zeek Rewards, which got busted by the SEC in 2012 for being a ponzi scheme.
The new Forex trading MLM grew quickly and by 2016, iMarketsLive reached 55,000 members.
Unfortunately, that same year brokers began locking the accounts of many iMarketsLive customers for using an unregulated “expert advisor”.
What happened was, 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.
And when legitimate brokers like FXCM decided they wouldn’t allow it anymore, FX Signals Live was discontinued in 2016.
As a replacement for FX Signals Live, iMarketsLive released their online Harmonic Scanner, to help follow market trends.
It’s basically an online tool that gives you alerts for different patterns and trading opportunities, but now you actually have to know what’s going on and make the trades yourself.
What is iMarketsLive All About?
iMarketsLive essentially sells you on the ability to become a successful day trader (in theory).
Sure, you could try day trading by yourself… if you learn how to correctly buy and sell stocks or currencies.
(Which is MUCH easier said than done, believe me.)
But iMarketsLive also offers a full suite of support.
Over 100 training videos and modules offer basic and advanced learning on both Forex trading and cryptocurrency investing.
Live training from experienced staff members is also available in 8 different languages.
Chris Terry himself holds Sunday night video sessions you can sit in on to learn more about Forex trading.
More importantly, the product also gives you access to some important tools.
The Harmonic Scanner scans the market for patterns in the Forex markets in the hopes that you can exploit them.
The Web Analyzer does the same with cryptocurrency, for an additional fee.
While the FX Signals Live trade mirror may be gone, iMarketsLive still offers other ways for you to just do what their experts tell you without having any of your own knowledge.
Swipe Trades will alert you to “Forex trade ideas” for an extra $17 per month.
You can enter a live trading room and watch experienced traders do online trades and talk about the secrets of their success.
Although I’m pretty sure their idea is just things like “buy this now”.
Swipe Coin does the same but for Crypto trade ideas and info, for an extra $100 per month fee.
And that may sound expensive, but it lets you trade without having to understand all the markets,
Because let’s be honest, if you knew what you were doing when it came to trading, you wouldn’t be paying this company $160 a month or more for the privilege.
(Yes, the basic product costs $220 up front and another $160 up front.)
Nobody said day trading was cheap.
As mentioned in the disclaimer, forex trading is not without risk, and you can easily lose all your invested money in addition to the monthly fees.
So you have to hand it to iMarketsLive.
Most MLMs only have reps losing money from monthly fees.
Here, the product itself can also lose you money.
Forex trading is like any other day trading of currencies or stocks, which is to say that some people make money and some people lose money.
As a general rule, if you enter a gambling game against a lot of people who are more experienced than you, you are not necessarily likely to end up on the winning side.
Pros: Why Join iMarketsLive?
✓ Potential for serious income without recruitment
Almost every other MLM pretty much requires you to recruit lots of other suckers and grow a huge downline if you want any chance of making big money.
Because you can’t get commissions without other recruits, and you’ll never earn any real money selling products to a few people.
Forex trading is big money, and you could certainly win (or lose) a lot of money by yourself without ever hiring on another recruit.
✓ No pants required
While most MLMs are going to involve you dragging around a box of products to various people’s houses, iMarketsLive is something you do from your desk, or even from your phone.
That’s a definite advantage; if you try to go door to door selling Amway with no pants, it would go much worse for you.
✓ Vast Swath of Training Materials
Between all the videos, and training modules, and tutorials, and live help sessions, iMarketsLive probably offers more product information support than most other MLMs.
If you want a crash course in forex trading and don’t trust all the free information already available online, there’s a vast bucket of knowledge here waiting for you.
Cons: Can We Trust iMarketsLive?
✗ Incredibly expensive
$220 up front plus $160 a month is what it’s going to cost just for the most basic level of participation.
That’s nearly $2000 per year.
It’s true that many MLMs have a $100/month purchase/sales requirement to earn commissions, but a) $160 is more than $100, and b) usually that monthly fee buys you products you can resell for a profit.
Here your monthly payments are very high, and they buy you nothing that you can resell.
✗ The potential to lose even more
Yes, plenty of people lose money in MLMs.
But they generally lose money from the monthly fees and purchase requirements.
Here, in addition to your startup fee, you’ll have to invest more money to play the currency markets.
And you might lose all of that money too.
✗ A strong fishy odor
iMarketsLive CEO Chris Terry has a history with companies like ZeekRewards that the SEC had to shut down for fraud.
The VP Alex Morton has a history with companies like Venma Nutrition that had to settle for hundreds of millions of dollars with the FTC for being a pyramid scheme.
ImarketsLive is banned as unauthorized in Belgium, and also received warnings from Spain and France.
If you’re looking for a very reputable company, look elsewhere.
Compensation Plan: How iMarketsLive Works
As you might suspect from the fact iMarketsLive can’t be bothered to put any information about their company history or CEO on their website, their compensation plan is likewise non-present.
Luckily, like Pepperidge Farm, the Internet remembers:
This is the overarching chart for your compensation package, and it may take a little explaining.
This guy has explained it on YouTube:
But if you don’t want to watch a long video, let me break it down for you.
The top chart breaks down what you’ll need to do to qualify for each rank.
Personal Subscriber minimum is how many people you personally have to recruit.
So for example, to reach Platinum 150 level, you need to sign on three other people who are paying a monthly fee.
This is expressed as dollar amounts, but it’s from back when membership was only $145 a month instead of 160.
So for Platinum 150, you need 435, which is just your 3 people x $145 each.
Platinum 600 requires four times that, so you’ll need to have 12 people in your downline, but only 3 have to be direct recruits.
Group Leg Max is the most you can have coming from one leg of your downline, which has to be less than 40%.
But you’re still going to need two other personal recruits to even qualify for the Platinum 150 level.
So as we’ve said, Platinum 150 level is fairly straightforward, you just need to recruit 3 people to start.
Then have you and your downline recruit a total of 3 people per month.
If you pull this off, you’ll earn a cool $150 per month.
Note that’s on top of having your monthly fee paid off.
The lowest level of Customer has no monthly volume requirement, but as long as you have recruited 2 other people who are paying monthly fees, you don’t have to pay yours.
(This works out fine for the company, since they’re happy to have $300 a month from the two people you recruited, instead of $150 a month from you.)
So if you can have your downline recruit 225 customers who are paying every month, you can reach Platinum 5000 level, and earn $5k per month.
Admittedly, it’s not very likely you’ll be able to pull that off.
But if you do, the lower middle chart shows Rank Achievement bonuses paid for anyone reaching Platinum 2000 or higher, as a $500 bonus or more on top of your monthly take.
If you reach the Chairman level (500 paying subscribers), there’s even an Infinity bonus on the lower right where you can earn a 1% override on all your downline subscribers.
Finally, the lower left chart is the most easily achievable compensation reward:
You get $35 for each other person you recruit.
(If you can recruit 3 in your first two weeks, you get an additional $35 bonus.)
Furthermore, once you reach Platinum 600, you earn $10 for each new member one of your direct hires manages to recruit.
And at Platinum 1000, you earn $5 for each person those members manage to recruit.
iMarketsLive: Bottom Line
|iMarketsLive involves no physical product that you have to stockpile or drag around to people's houses.||iMarketsLive charges you an expensive monthly fee of $160, and if you want access to all of their tools that amount doubles.|
|The sheer volume of training and information offered by the program is quite impressive.||You're paying to receive nothing of value that you can resell, only the ability to play the markets.|
|Optional training direct from the CEO himself.||ImarketsLive and their products and services have been banned in some countries, received warnings from more, and have run afoul of US law for failing to meet basic financial regulations.|
|There's a potential to make a lot of money, even if you don't recruit anyone else.||There's a high possibility of losing a lot of money on top of your monthly fees.|
Is this Forex Trading Forme?
If you’re looking to make money with iMarketsLive, you really have to evaluate both sides of the equation:
Can you make money by recruiting other subscribers, and can you make money with the Forex trading itself?
First let’s talk about the trading. It is entirely possible that you could make money with the forex trading.
But it’s also entirely possible that you could lose money with the forex trading.
Forex markets, like any stock markets or commodity markets, are a gamble.
Forex trading is just a fancy way to say that you’re betting that some foreign currencies will go up, and others will go down.
When you’re right, you can make a lot of money.
When you’re wrong, you can lose a lot of money.
There are definitely people who make big money in the markets.
But there are also people who lose money.
Because markets involve lots of people buying and selling, they are essentially playing a game against each other, and not everyone can win.
A community of forex traders is going to have some winners and losers.
So the question you have to honestly ask yourself is:
“Why do I believe I’m going to be better than playing the foreign exchange markets than half of the people out there?”
Have you studied a lot of foreign exchanges and currencies to the point where you have a really good sense of how it all works?
If so, you might indeed be able to make some money as a forex trader.
And you probably don’t need iMarketsLive to do it.
But if you’re not going to put in a few years to really learn and understand the markets, and just plan to do whatever iMarketsLive’s tools tell you to do, bad news:
Just like the stock markets, you’re the sucker acting on a hot tip that’s already old and already been acted on by thousands of people.
You’re not outwitting the herd, you are the herd.
It can certainly be done – indeed, there are some forex traders that make vast sums of money, probably even more than I’ll ever see.
But paying a monthly fee to use an app and get the occasional buying tip doesn’t make you an expert.
Add to this the various legal trouble iMarketsLive has been in, and brokers freezing accounts of their members, and I’d have to say iMarketsLive is not your best bet to make money as a forex trader.
It might be worth one month if you treat it as a school.
Just try to absorb as much of their training and learning materials as you can in a month.
But if you plan to throw money at trading there, you’re at least as likely to lose your investment as you are to make any money.
On the other side, there’s the recruitment.
And I’m going to say something I very rarely say about MLMs:
You could make some money from this.
I want to be clear:
I don’t think iMarketsLive seems like a very trustworthy company, and I don’t think their products are worth the expensive monthly fee that they cost.
I also don’t think you’re ever going to reach all those upper ranks of Chairman 5000 or whatever, because we all know that the vast majority of people who join MLMs never advance beyond the first rank or two.
But due to the peculiarities of their compensation plan, you can make money as a Platinum 150 member.
To qualify as a Platinum 150 member, you just have to have 3 paying direct recruits.
With most MLMs, you need to do a certain amount of sales every month to keep your rank.
Here, there’s no product to sell, so you qualify by having 3 recruits who are paying monthly fees.
Note that’s not 3 NEW recruits, that’s just 3 active recruits paying their $160+ per month.
In other words, rather than hustling and selling product every month, if you find 3 suckers who you could sign up and convince them to be lifetime customers, you could earn $150 a month going forward without having to ever lift a finger again.
You’re basically putting these 3 people on the hook for a monthly fee for a product of dubious value, but you profit.
And to keep them as paying subscribers, you want to convince them to try to find 3 other suckers.
It’s basically like the Ring.
It might not be easy to find 3 people willing to pay an expensive monthly fee just for access to a trading assistance app.
But if you can get just 3 recruits to keep paying, you can earn $150 a month and never have to sell or recruit again.
And that would be pretty sweet.
Unfortunately, there’s one big downside: As soon as one of them decides to quit because it’s not worth it, you lose your income stream.
And if two of them decide to quit, suddenly you’re on the hook for the monthly fee of $160, losing even more than you would have gained.
Personally, I don’t like my income to be so fragile that I go from making money to losing money if one or two people change their mind.