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Recently, there has been a surge of money-making ventures in the Forex market, Imarketslive is one of them. The platform promises to help you make money through Forex, but is Imarkestlive scam or legit?
Trillions of dollars exchange hands in the Forex market every day, and if you are lucky, you can get a share of the cake. You must learn how to trade, and imarketlive offers to help you get started.
In 2017, according to the Direct Selling Association, 18.6 million U.S. people were directly selling with MLM companies.
The group says retail sales in the U.S. were $34.9 billion that year.
But is imarketlive an MLM company? Or a Forex trading organization?
In this article, we’d be reviewing Imarketslive. We will help you understand how it works. And also, find out if Imarketslive is a scam or a legit Forex trading organization.
And, of course, I know you’d like to know if it’s an MLM company.
The company is a Forex trading MLM that offers various trading educational products and services to people scattered all over the globe.
The company was founded by Christopher Terry in 2013 and has since then started doing business in over 120 countries. imarketlive deliver its teaching in 8 major languages.
It has its headquarters in New York City, New York. With a workforce of about 60 staff, teaching folks like you and me about the joys of Forex.
The company’s goals are to educate people to help them access the right information. Information that will allow them to start thinking and doing things in a way that works best for you.
They also want to empower you to discover the power to control your life, giving you the confidence to go after the lifestyle you desire.
Additionally, imarketlive wants to enrich you. Help you experience a higher quality of life where you can receive fulfillment and abundance within the areas of your life.
While the company boasts it will help change your financial status, they boldly warn on their website that “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 lifestyle.
Only risk capital should be used for trading. Additionally, only those with sufficient risk capital should consider trading. Past performance is no guarantee of future results.”
If you have the capital, why don’t you start your own business by learning 23 Small Business Ideas for Men with High Profit?
The company’s major sales pitch is that they would make you a successful currency trader.
They make it seem so easy like all you need to do is click a few buttons on your system. Buy low and sell high and voila!! Jackpot!!
But currency trading or Forex is a little bit more complicated than that.
However, imarkets offers a full suite of support and trading education. A plus for me in terms of customer service.
They have hundreds of training videos and modules to this effect. In addition, they also have advanced strategies on both Forex trading and cryptocurrency investing.
And occasionally, their CEO joins in the fun and hosts webinars on Sunday nights. Yes, you can sit on in and listen to him.
imarketslive also grants you access to their proprietary financial trading software like their Harmonic Scanner. This software helps you search the market for patterns to exploit and profit from.
They also have their Web Analyzer that does the same thing as the Harmonic, but for cryptocurrency. You can get that one for an additional fee.
Basically, you get more educational materials from them as you pay more. They have lots of them believe me. If you’d like to join click the button below.
Everyone starts as a customer in imarketslive. You pay your sign-up fee and you’re good to go. Then if you can convince two of your buddies to learn from these “masters,” you get your money back.
Signing up means you get access to their platform, get notifications on their app on what to and not to trade.
Or you could sign up as an Independent Business Owner. Doing this gives you access to share their platform with others and earn commissions.
After signing up, you get copies of their educational material on how to trade and some videos to help you understand what they really do.
From what we found out, you could say that they make money trading on Forex. They monitor how the market is flowing, swoop in, and make buys or sales, as the case may be.
imarketslive also deals with cryptocurrency as a source of revenue. But for me, the biggest source of their revenue comes from the sign-up fees and the extra money you pay when you need more materials.
The monthly fees are also one of the biggest revenue sources.
For users, you are supposed to earn with the trade secrets they reveal while you are in training. And if you continue to renew your membership, they continue to guide you through money-making trades.
This is not always the case, as we’ve seen so many people losing more money by trading on tips provided by the organization. Partly why people continue to wonder if imarketslive is a scam or a legit Forex trading organization.
In all honesty, the market isn’t a child’s play, it’s complicated, and many things can go wrong simultaneously.
This limits your source of income majorly to your ability to recruit people, and the income your earn thereof.
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Let me start off by saying solid trading advice isn’t cheap to come by. But most of the things they do are a bit confusing. Here’s what we found out.
imarketslive offers you the basic membership for $370, which can be low or high depending on your deep pockets.
You can pay $200 upfront and pay the rest later. For a year you pay over $2000, but hey, look at the bright side, you can earn way more than that with their tips. Or maybe not.
What troubles me, however, is that after the heavy monthly fees, you still have to trade with your money, and there are no guarantees.
You could lose all your trading money and your fees, or you could earn more.
Then we really need to look at who is at the helm of affairs here. Christopher Jerry. He’s had run-ins with the SEC over his affiliations with a now-defunct company that was shut down for Ponzi-related issues.
Yes, Ponzi is illegal in the States. It’s fraud.
And then his VP, ALEX Morton has a history with MLM company Vennam Nutrition that had to settle for hundreds of millions of dollars with the FTC, for being a Ponzi scheme.
The company is banned in Belgium and France. And has an F rating from Better Business Bureau, for numerous complaints against them.
Another red flag for me is that you have to recruit people into iMarketsLive. Are they typical of MLM companies and are they supposed to be a Forex trading organization? They should pick a struggle.
Additionally, the number of people that lose money is staggering.
You’d agree that the best way of making money on this platform is by selling the trade tools.
And who does that? people at the echelon!!
It’s easy for anyone to ask if iMarketslive is a scam or legit when they see all these reasons.
The inquiry, imarketslive scam, or legit cannot be easily answered with a no or yes answer.
We’ve outlined facts that should help you make a decision. While I think imarketslive isn’t a scam, they really do not come off as straight forward business people.
Looking at the history of their pioneers would make you question many things too. Their slate isn’t exactly clean. They also do not have the best practices, as they have contravened a lot financial regulation in the US.
However, we must recognize them for the things that they do. Which is simply offering Forex educational tools and trade tools to its users for a fee.