Is iMarketslive A Scam? [Products Are Joke?!]
Welcome to my iMarketslive Review!
I know many of you are asking, “Is iMarketslive a scam?” To answer that tricky question, I dug into the company’s itty-bitty details and found out something worse than you might think.
Albeit it’s my first time to hear about an MLM selling trading software like iMarketslive has been doing since 2013, I knew from the beginning that there’s more underneath the surface.
My hunch told me that there are existing red flags you should be worried about. And that being said, I’m happy to have you here and read my brutal, honest, and comprehensive iMarketslive review.
To me, it sounds you’re interested in this complex niche and willing to spend more time researching before you take an optimal risk in this industry.
If you are willing to give it all for this business, why not grab our Ultimate Make Money Guide and gear yourself up to maximize the benefits in an MLM?
Are you ready to learn more about iMarketslive? Let’s begin. Shall we?
iMarketslive Review - Quick Summary
Type: Multi-Level Networking Company
Price: $195 upfront + $145 monthly subscription
Best for: Affiliates interested in trading and earn more money by buying stocks in foreign exchange and recruiting more members to grow the company
Summary: iMarketslive is a networking company that has been existing for 6 years based in New York City. It is conceptualized after Christopher Terry’s idea of earning money by foreign exchange in an MLM structure to expand the business locally and abroad.
Is iMarketslive Recommended? Absolutely, no. I'll tell you the details why.
What Is iMarketslive?
Founded in 2013, iMarketslive is a Multi-Level Marketing company selling products and services (mostly services) pertaining to financial education, specifically financially trading software.
CEO Christopher Terry, along with Isis De La Torre (Chief Financial Officer), Alex Morton (Executive Vice President), and Ivan Tapia (Vice President of Sales), founded the networking company apparently facing a lot of complaints filed against them.
In fact, just only recently, Chief Operations Officer Frank Gomez responded to the complaint and gained settlement against TINA (Truth In Advertising) in accord to Commodity Futures Trading Commission issued on September 4, 2018.
Important Background Information
According to Terry himself, you don't need to learn even the fundamentals of trading. What you're only going to do is to "mirror" what other company traders do. "Just put your money to work. That's it," he said in an interview with an MLM blogger, Troy Dooly, 3 years ago.
With that being said, affiliates of iMarketslive simply copy the exact strategies Terry do in the Live Trading Room. In fact, he did it in front of 4,000 people and let them copy his moves. Given, he claims that by doing that and master those strategies (not learning the sense of each tactic) is the "best trading education on the market."
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This alone is a red flag. To support that, their website stated that members should purchase their premium package to gain access of the training tools worth $195 upfront and a monthly cost of $145, equivalent to $1,700 per year.
To make matters worse, one of the complaints highlighted that the "tactics" the company does can be accessed for free on YouTube.
What Do They Offer?
iMarketslive, as an MLM, offers financially trading software to both their customers and their Independent Business Owners (IBOs). To date, they claim the flagship training they have so far is their iMarketslive Academy. It’s a forex and cryptocurrency market education.
Once you get into the academy, you'll gain access to 100+ education videos that will guide you through the whole process of earning more in your invested money.
In addition to that, you'll get also get the basic to the advanced market education, which comprises modules about the markets, chunked into step-by-step sections to learn the whole complex concept of trading fast.
Lastly, you're going to take advantage of their forex and cryptocurrency education, which is the lean meat of the academy. This is then divided into three levels i.e. beginner, intermediate, and advanced learning.
Apart from the iMarketslive Academy, you’re going to get the following (Platinum Package worth $217.19 for a one-time payment):
- iMarketslive TV
- Harmonic Scanner
- Swing Trades
- Night Owl Sessions with Terry
In case of additional software to upgrade your trading experience, you can add $16.71 per month for a web analyzer, $16.71 per month for Swipe Trades, and $99 monthly subscription for Swipe Coin.
The three additional tools are helpful when it comes to digging deeper about trading coins via mobile application as well as gaining the opportunity to get close with Terry and take advantage of the training and motivational speeches he does from time to time.
iMarketslive Compensation Plan
Basically, iMarketslive provides compensation for affiliates in accord to the 4 levels as a fast start bonus.
- Level 1 (personally sponsored affiliates) - 30%
- Level 2 - 10%
- Level 3 - 10%
- Level 4 - 10%
Another way to earn money in this company is through residual commissions following a 3x8 matrix payout. And in each downline who successfully invites a friend or someone to register in the company as an affiliate, you're likely to receive 8% of the share from the monthly membership fees.
The bad thing is you can't easily take advantage of the residual commissions unless you manage to invite 12 affiliates under your belt.
Further, iMarketslive also provides Platinum Bonus, which is actually a one-time payment worth $5 to $35 for each package you sell. Also, there's such thing as Chairman Infinity Bonus wherein you can earn as high as $1,000 to $40,000. But, here's the catch. You need to rank super high to qualify for this bonus.
According to TINA, this ridiculous compensation does sound sketchy in contrast to more than 50 inappropriate income claims iMarketslive released. Even Gomez mentioned that they're working on addressing and eliminating these income claims from their leaders.
The same source cited that the process how the company manages to pay affiliates in such volume remained a mystery because they don't provide a link directing to the compensation plan per se.
To confirm this, I went ahead to their official website and noticed that their buttons en route to becoming their customer or IBO don't work at all.
Gomez defended this issue with a statement that the company took down the income disclosure statement after the ongoing case.
Since 2018, they noted to release a new version of that plan within 45 to 60 days. Yet, it's already 2019 and these buttons remained null.
iMarketslive Reviews - What Others Say?
A YouTuber named BOOT stated that he's been recruiting and marketing the company rather than learning the foundations of the trading. He said that as complex as trading by nature, iMarketslive doesn't perform it as properly as expected.
They take advantage of the demo count to convince people to join the company. However, once they get in, 90% of the new affiliates quit after 1 month.
"Their products are a complete joke," he strongly emphasized this in his video. He confirmed what TINA wrote that most of their programs can be access in other sources for free.
Also, he said there are actually more products turned out really bad like Autotrader. Basically, what you’re getting is a copied material from another website, he said.
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To listen more of his opinion about iMarketslive, you can check out his video.
In contrary to most of the reviews claim on the web (including TINA), a blogger and an IBO, Eddie Harvey, discussed that iMarketslive is real and they provide financial education to marketers.
He said that the networking company is more than a Multi-Level Marketing company because of the negative connotation attached to MLM. In fact, he provides a thorough step-by-step discussion of how is it inside iMarketslive.
iMarketslive Scam [UGLY] Truths Revealed!
1. Stolen Material
According to a former affiliate, he said that the training programs, especially the strategies, are from another source. Yet, the company markets them as their own.
2. Accessible Strategies [On YouTube] For Free
You pay as much $217.19 well, in fact, you can get the same strategies on other sources without paying anything. They don’t teach you what you should learn about trading and most of their strategies are a complete flop.
3. Ongoing Legal Issues (CFTC Complaint)
As I’ve mentioned earlier, iMarketslive faced a recent settlement to Commodity Futures Trading Commission months ago under the condition that responds to the violations, pay an amount of $150,000 as a penalty, disallowing the party (including their leaders) to deny the conclusions and rather accept to comply.
4. F Rating On BBB
Apart from the fact they aren't an accredited company, the MLM has already gained a bad reputation to the point they released an F rating based on the number of complaints they received over the years.
5. Fishy Positive Reviews
In fact, it's alleged to have been faked from the paid commenters.
This is based on the former affiliate’s statement wherein he had second thoughts when he read those positive comments in contrast to what he’s experienced in the company personally. He thought how come around 15 people gather to leave a positive comment in one day.
What Did I Like About iMarketslive?
As obvious as it sounds, there’s nothing I could say positively at this point. From there, I’d be frank with you. You can’t gain anything in this network marketing company, given their bad reputation to the general public and to the state.
In addition to that, they don’t have a clear compensation plan. Hence, you aren’t placed in a circumstance wherein you’re clarified as to how much would you get in return after investing a lot of dollars in exchange for the services they offer you. As far as my research goes, there’s none.
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Is iMarketslive A Scam - Conclusion
Definitely, it’s a scam. They don’t provide real products and by taking high risks in investing money in forex trading is a great factor.
Plus, CTFC already recorded a lot of violations from this networking company, which is clear that they don’t provide legitimate products and services to both their customers and their Independent Business Owners.
Another thing I’d like to point out is that Terry emphasized in the interview about the forgetting the learning of forex trading and implicitly asked to copy his strategies how he manages to earn 6 figures within 18 years of experience in the industry.
If they offer real products here, why would there be so many complaints filed against them to the point their COO has to explain to TINA and clarify the allegations? Why would he have to send a note to the editor about their ongoing settlement?
To support that claim, they still don’t provide the revised compensation plan on their official website. Not even the process on how to get into the company as the buttons aren’t functioning when I visited it as of this writing.
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As much as he dislikes the structure of an MLM as a source of income, Roope “Robert” Kiuttu remains neutral when it comes to recommending MLMs to individuals like you, who’s willing to invest in a networking company and earn something in return. In fact, we have a few of those we approved companies like CTFO, Bellame, and others.
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So, if you plan to make use of the networking company benefits, it’s best to gear up your weapons and learn the basics of selling and other stuff that is significant when it comes to earning more money.
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Now that I have shared my thoughts in my iMarketslive post, I turn the tables and ask your opinions this time.
To end this post, I’d like to know your thoughts by asking you the following questions:
What kinds of experiences do you have with iMarketslive or any other affiliate programs selling financial or trading-related programs?
Do you prefer to begin earning your first passive income through affiliate marketing or you rather invest in an MLM and gauge into risky forex trading?
Let me know in the comments below! 🙂
If you have further questions that I haven't discussed in this post, feel free to leave them in the comments.
On the other hand, if you feel like you want to join Roope and go through the whole process of earning a legit income, leave a comment as well and he'll be happy to be of help. Don’t forget to grab his Ultimate Make Money Guide for FREE! Get your copy now.