Are people really getting rich off iMarketsLive?

iMarketsLive is an MLM that combines Forex trading and network marketing, and claims to have a program that can make anyone rich.

No financial or investment knowledge needed, and no massive start-up cost (just $15). Different from the passive income systems offered by Zukul and ClickFunnels, this one relies on the fluctuations of foreign exchange rates.

So have I been involved?

This video explains:

 

All good? Let’s continue…

Overview

iMarketsLive was founded in July, 2013 by Chris Terry. They’re based out of the financial capital of the world, New York City.

Terry actually isn’t an MLM vet at all, but he does have quite the track record when it comes to finance. He’s been involved in network marketing here and there (worked for Amway in the 90s for a bit), but his claim to fame is 18 years of experience as an 8-figure trader. [1]

Now, he wants to share his secrets, and a massive crowd has gathered around him to listen.

Since launching just four years ago, iMarketsLive has already gained 55,000 customers and has expanded to operate in over 120 countries around the world.

Back in August of last year, iMarketsLive appointed a new VP of Sales – Alex Morton. They couldn’t have made a smarter choice. Morton is an MLM prodigy with years of experience in direct sales. Not only has he been successful, he’s been an innovator. He’s largely responsible for shifting MLM away from age-old Tupperware methods and into the new millennium, using sales to target today’s youth instead of your grandma. [2]

How much does iMarketsLive cost?

$15-$195.

To start-up as an IBO with the rights to promote and earn commission on their products, you only have to pay $15 to get started. There’s an additional membership fee of $15/month. Very affordable, but you don’t get first-hand access to any of their products.

How can you sell something you’ve never even seen?

In order to join on as a Customer and access their compensation plan, you’ll need to pay the IBO fee and purchase the Platinum Package, which gives you access to their product. This costs $195 to start, and then you pay a membership fee of $145/month.

Products

iMarketsLive sells financial products and trading software. According to them, their products are worth thousands, given how much money you can make off them.

There are four different programs included in their package: FX Signals Live, Live Training Room, Harmonic Scanner, and Training Education.

FX Signals Live is their Forex trading software. Instead of spending years learning about trading and investment, this program does all the work for you. It basically copies whatever their team of experts are doing on the Forex market and matches their trades, so you can “set it and forget it”. Let your computer make money for you.

Live Training Room is a webinar the company offers to paying members only. It’s their CEO, Chris Terry, offering live financial advice and showing you first-hand how he’s earned his millions through trading.

Harmonic Scanner is another software program that helps you with Forex trading. It identifies patterns in the market and then explains them to you in easy to understand terms, helping you to identify major money making opportunities on your own.

Training Education is an in-depth educational program offered to paying members that includes the company’s entire library of webinars, training modules, videos, and articles for you to review at your leisure.

It’s a lot to pay for a monthly membership, but if their software and training programs can really get you making money without doing much of anything, it’s totally worth it.

Those of you who know a thing or two about trading and investment have probably already realized a few glaring errors with these Forex trading MLMs. The first one being that you can get it for free – numerous companies offer the same (or better) Forex trading software to budding traders completely free. They make money by taking a commission out of your winnings, so they have no reason to charge for their software.

The other glaring error here: Forex trading is extremely difficult and risky. It’s actually one of the riskiest investment methods out there – it’s like the craps of finance. You can win big, but most of the time, you just lose big. Even the Wall Street Journal has written about traders with over a decade of experience who are still seeing their bank accounts wiped clean by the practice. [3]  There’s no possible way that they’ve figured out how to develop a method for your average Joe to get rich off of this volatile industry. According to Daily FX, the average trader doesn’t just not get rich, the average trader loses money regularly. [4]

Finally, trade secrets are secrets for a reason. If this guy really did find out how to get rich off Forex trading, sharing his secrets with 55,000 people who can easily replicate them and then recruit 55,000 more people to do the same would destroy any money-making possibilities. In trading, there is a loser for every winner. If tons of people get on board and start buying up the currency this automated program tells them to buy, the currency will inflate and become worthless. It’s inherently flawed.

Compensation Plan

The idea is that you make money off their product, but they also have an affiliate structure. A fast start bonus gets you earning right away, with commission paid out 4 levels deep.

Level 1 (personally sponsored Affiliates) get you 30%, and levels 2-4 get you 10%.

Residual commission is offered on a 3 by 8 matrix – 3 branches, each of which have their own 3 branches, etc, 8 levels deep.

Every time your recruits pay their monthly membership, you get 8%, down to 8 levels. However, you have to move up with the company in order to access all 8 levels. Affiliates with all 8 levels unlocked have personally recruited at least 12 other affiliates.

Lots of other bonuses are available, including a $5-$35 bonus on each Platinum Package you sell and a $1,000-$40,000 Chairman Infinity Bonus.

Recap

I’ve already explained the flaws in their product. You’re not getting rich off Forex trading anytime soon.

But what about getting rich off their affiliate program? Well, if you’re okay with vigorously pushing a product you know is borderline shady, go for it.

Usually you have to be pretty enthusiastic about what you’re selling to do well in MLM.

You’re going to have to sell hard and recruit even harder to see any real money with this company. I don’t know about you, but I don’t have it in me to knowingly recruit people into paying hundreds per month for a program that doesn’t work.

Look, I’m not a hater of the company.

But if you like passive income streams, there are much better opportunities out there.

In other words, you might like our training because it teaches the “good life” without pushing shady gigs on your family and friends.

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Jeremy Page

Jeremy Page created Multiple Streams for ballers, big thinkers and online business owners. You can follow him on Instagram here.

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Show 2 Comments
  • ImarketsLive June 22, 2017, 8:43 pm

    Imarketslive is an excellent company, you pay monthly and have the company’s products. Participate in the business plan who wants … only with the signs of the company already makes good money in the forex.

    • Jeremy Page June 24, 2017, 12:47 am

      Good to know.