Is iMarketsLive A Scam? Read This Review Before Joining (Updated)

Is iMarketsLive A Scam

iMarketsLive Review

What is iMarketsLive?

iMarketsLive or International Markets Live is a platform that provides education and other services to foreign exchange traders. I am pretty sure that they don’t mention it on the website, but they are a multi-level marketing company that focuses on forex trading. They provide several services, which teach you about forex trading or indicate patterns in the markets. They also provide you the ability to scan the markets for patterns in cryptocurrency.

This company was founded by Christopher Terry. He is also the CEO of this company at the time of writing this review. They are available in more than 120 countries, which means that people in most countries have access to them.

Unfortunately, Christopher Terry was involved in promoting Zeek Rewards in addition to other shady businesses that he was involved in. Zeek Rewards was a pyramid scheme, which is an illegal scheme where most of the money is generated by recruiting other people into the scheme instead of selling the products. This hurts my confidence in this company even though this is just the beginning of the review

In this review, we will see if you should think about joining this company or not. This review is not biased as I am not trying to promote this company.

How does iMarketsLive work?

I don’t appreciate the fact that they haven’t provided any information about the compensation plan on the website. This is not a good sign in my opinion. This makes it look like that they have something to hide. However,

I was able to find information about the compensation plan by doing some research. I don’t know if the information is up-to-date as it has been taken from third-party sources.

Let us take a look at the ways of earning through the compensation plan of this company.

Platinum Bonus: When people enroll by buying a Platinum Package on your first three levels, then you will earn this bonus. The level 1 will include those that you recruit personally, the level 2 will include the people that the level 1 recruits bring into the organization and so on.

You will only earn on your first level in the beginning. You will earn $35 per person that you recruit when that person buys the Platinum Package. After reaching the rank of Platinum 600, you can earn on your level 2 as well. You will earn $10 per person that buys the Platinum Package on your level 2. Finally, when you reach the rank of Platinum 1,000, you will earn $5 per person that buys the Platinum Package on your third level.

Residual Income: When you achieve a particular rank in the compensation plan, then you will earn a residual income based on your rank. You can earn in the range of $37.50 per month to $125,000 per month. You just need to maintain your rank to earn this bonus. The way that you achieve and maintain a rank is through recruiting other people and helping them do the same in addition to meeting other requirements.

They have a 3×8 commission matrix structure. The 3×8 matrix has 8 levels, and it starts by you recruiting three people. You will have to bring in 3 people to start earning $37.50 per month. When those three people bring in more people, then you will reach a higher rank. In short, the more people you and your downline sign up, the higher your earnings will be.

Chairman Infinity Bonus: You can only earn this bonus by reaching the Chairman ranks, which are the highest ranks in the compensation plan. Most people will never be able to reach these ranks at all. This bonus pays you a percentage of the Group Volume in each uni-level leg down to the next person who is on the same rank as you.

You can earn in the range of 1% to 2% on each uni-level leg’s Group Volume. However, the max pay per leg depends on your rank. You can always recruit more people and open new uni-legs if you are not satisfied with your earnings.

The above-mentioned ways of earning money through the compensation plan aren’t the only ways of earning money through it. I think that the compensation plan focuses a bit too much on recruiting even though there are safeguards to ensure that most money comes from sales.

How much does it cost to join?

First of all, you have to buy a starter pack, which will contain their products. Following are the starter packs and their prices.

Elite Starter Pack: $325
Platinum Starter Pack: $225
HFFX Monthly: $189.95
Digital Currency Monthly: $189.95

After buying the starter pack, you also have to choose a monthly pack.
Following are the monthly packs and their prices.
Elite Monthly: $274.95
Platinum Monthly: $164.95
HFFX Monthly: $179.95
Digital Currency Monthly: $179.95

As you can see, it is expensive to start and continue this business. There are a lot of MLM companies that you can join for a lot lower price. Most of them don’t even require you to pay such a high monthly fee.

How much can I earn?
I don’t believe that most people will be able to earn much through this company. In fact, most people will lose money in my opinion. They will lose money because they will have to pay for the monthly packs while their earnings will not be enough to cover their expenses. It is not easy at all to recruit and sell the products of this company.

MLM companies have a really high failure rate because most people who join fail to sell or recruit really well. The other issue with this company is that it involves products that are related to trading, which is very risky. There is no strong evidence to suggest that the products will actually help people in getting good returns consistently. So, people might be hesitant to try the products.

This company may also be closed down for being a pyramid scheme. If the products are deemed to be useless, then it might be closed down sooner or later. The shady past of the founder cannot be ignored as well.

In short, you can’t expect to earn much through this company at all.

Are there any complaints?

Yes, I have listed some complaints below.

If you are looking to make money, then trust me there are way better companies to make money.
The company is unregulated, and they have positive reviews everywhere.

Conclusion

iMarketsLive cannot be called a scam based on my research. However, they have had issues and made changes in how they operate, which has led to them become more trustworthy. However, they shouldn’t have to make changes if they are operating legally from the beginning. I wouldn’t recommend this opportunity because I believe that it is risky, and there are better opportunities out there.

Pros
Made some improvements
Some people report that the products work for them

Cons
Risky
Expensive
High failure rate
Shady past of the owner

By john rico

I am an Online Entrepreneur and Civil Engineer in the making at the same time. I am already earning Extra Income and I want to Use this Blog to Share to Everyone what I did.

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