Is iMarketsLive a Scam? Another Ponzi Scheme In Disguise!

Welcome to my iMarketsLive review!

If someone ever told you that you could make money trading Forex while you slept or partied, then they must've been talking about iMarketsLive. 

First of all, I must Congratulate you for taking your time to do your own research before buying into any "seemingly good" product.

That's the way to avoid scams and find the legitimate way to make money online!

Let me be completely transparent with you, I'm not associated with iMarketsLive in any form.

So, rest assured that I'm not here to pitch or sell anything to you.

Instead, I'm here to reveal why this Forex trading company is bad news for anyone who wants to get into the world of trading, and I have proof to back it up. 

Is iMarketsLive a scam? Or are people just don't know how to use it? 

Let's find out... 

iMarketsLive, or International Markets Live, is a Forex/Futures trading company that runs an MLM or Multi-Level Marketing compensation plan for its members. The company is run by a professional trader named Christopher Terry.

But it wasn’t Christopher Terry that founded the company.

The story behind the creation of the company lies in a group of traders who came together with a group of network marketers to create the ultimate method of earning money.

And thus, they created iMarketsLive, a trading platform that allows people to trade on the markets from the comforts of their own home.

Long before Terry got involved with iMarketsLive, he was involved with two other MLM companies: Amway and Zeek Rewards.

He was also in the construction business, both as an employee and eventually an owner for almost 12 years.

Soon after that, he began his ventures into commodities trading and developed a serious interest for the markets.

Christopher Terry started trading back in 1995 and became a full-time trader three years later.

iMarketsLive is a financial trading software that claims to be worth about thousands of dollars because of its ability to make money.

They offer four different components of their products:

1. FX Signals Live is a hands-free trading service that runs on the “set it and forget it” concept. The program is said to mirror trades that experts make so you don’t have to worry about doing trades at all.  
2. Live Training Room is a live webinar program where CEO Chris Terry makes videos about his trading and gives out insights on why he does what he does.
3. Harmonic Scanner is a program that helps identify and explain patters in the FOREX market to help you identify and understand good trading opportunities.
4. Training Education is iMarketsLive’s proprietary trading education. It’s a library filled with videos, webinars, and articles for you to learn more about the world of Forex Trading.

I went to BBB or Better Business Bureau to determine if iMarketsLive’s product line works or not, and I found a mix common negative reviews that stood out from the rest of the claims:

For the most part, people are calling the company and its product an outright scam because the trading platform is making them lose money rather than earning money.

Now this is alarming because you’re relying on the “set it and forget it” features of the program to make you earn passive income.

Apparently, that’s not what’s happening with iMarketsLive.

In order to make money with iMarketsLive, you rely on the following:

1. FOREX trading through its software, FX Signals Live
2. Residual commissions
3. Recruitment commissions

There are two packages that members can avail of:

1. Customer Platinum Package ($195 One-Time then $145 Per month)

This includes the following products:

1. AUTOTRADER
2. LIVE TRADING ROOM
3. HARMONIC SCANNER
4. TRADING EDUCATION

2. IBO Platinum Package ($200 One-Time then $150 per month)

1. AUTOTRADER
2. LIVE TRADING ROOM
3. HARMONIC SCANNER
4. TRADING EDUCATION
5. IBO KIT
6. COMMISSIONS FROM ITS COMPENSATION PLAN

Like all MLM companies, you’re paid commissions every time you refer someone to the business to buy their product or subscription.

At first glance, iMarketsLive’s compensation plan runs what looks like a unilevel compensation structure at a 3x8 matrix for residuals.

1. Recruitment Commissions Payout

iMarketsLive’s recruitment commissions pays out 4 levels through their Fast Start bonus and looks like this:

1. Level 1:  30% (Personally sponsored members)
2. Level 2:  10%
3. Level 3:  5%
4. Level 4:  5%

2. Residual Income Commissions

The residuals are paid out on 3x8 matrix system, and with a full matrix, you’re looking at 9840 positions in your downline.

The company then pays out 8% in commissions per spot. You have to unlock the levels of the matrix by recruiting more people and looks like this:

1. Sponsor 2 affiliates – earn on levels 1 to 4 of the matrix
2. Sponsor 6 affiliates – earn on levels 5 and 6 of the matrix
3. Sponsor 9 affiliates – earn on level 7 of the matrix
4. Sponsor 12 affiliates – earn on all 8 levels of the matrix

You may refer to this video for the details:

iMarketsLive has been dubbed as a Ponzi scheme in countries like France, United Kingdom, and Belgium.

The FSMA or Financial Services and Markets Authority in Belgium have issued a warning to customers about availing of iMarketsLive products.

France’s financial markets and services providers AMF or Autorité des Marchés Financiers also issued a warning to its customers about dealing with a company like iMarketsLive.

United Kingdom’s FCA or Financial Conduct Authority has marked iMarketsLive as an unauthorized firm that carries out regulated activities that require authorization.

Surprisingly, no warnings have been issued by the SEC or Securities and Exchange Commission about iMarketsLive’s activity within the United States of America.

But three countries and more have already issued warnings about this company’s activities and it’s a huge red flag for anyone anywhere.

Yes, they claim that their software is worth thousands of dollars because it can help you earn money without doing anything.

This makes their claim of a one-time payment combined with a monthly payment of more than $100 enticing to some people.

However, their products are expensive for what it’s intended to do. There are other trading software and platforms that are cheaper and more reliable than iMarketsLive.

On top of that, the resources that they collated in their library can be accessed for free or for a minimal price if you know where to look.

Forex Trading has never been newbie friendly, and it’s definitely a risky industry that’s not meant for everyone.

There’s a lot of things that need to be done if you want to get started with Forex, and believe me, iMarketsLive is far from being the go-to tool for it.

There are hundreds, if not thousands, of Forex-related resources and courses out there that will give you a solid understanding of the industry.

Even on their main homepage, there is no mention of their students claiming to have earned a lot of money from their platform.

A lot of their testimonials, if not all of them, revolved about the education from the library they were able to access.

You’d think that a program like this would be posting success stories about people earning the big bucks, but I can’t seem to find any.

When you scroll down to the very bottom, you’ll find their disclosure to be very interesting because it contradicts what they claim their product could do.

In my reviews, I try to be as objective and as honest as possible.

I try to be fair by highlight both the positive and negative sides of a product or a company.

However, there is nothing positive about this company and its product that are worth mentioning.

iMarketsLive is something that I would avoid, and I would advise people to do so.

While there is nothing illegal about their company and their products, they are doing unregulated activities that have stirred up different regulatory commissions from different countries.

Because of their unregulated activities, they’ve also been dubbed as a Ponzi or Pyramid scheme by these commissions.

These two factors alone are red flags that a company is up to no good and does not have the best interest of the members at hand.

Forex Trading is not intended for anyone, and iMarketsLive presents it as something that anyone can do. However, their trading platform is not newbie friendly. It boasts of “set it and forget it”, but it actually makes you lose money than earn money (see my previous point above).

Lastly, there’s no solid proof that anyone is earning anything out of their product or compensation plan.

I'm not a fan of MLM, not because it's illegal or not profitable, but because of all the restrictions and the expensive costs involved.

Instead, Affiliate Marketing is my top recommended business model for anyone to make money online.

The reason is simple...

• You don't have to recruit anyone to make money
• You have the freedom to promote any products you want and not being restricted to only promote the products from one MLM company
• It's Free to get started

In fact, with affiliate marketing...