Most likely you have heard about the forex trading company called iMarketsLive and you are looking for more information to see the business opportunity on offer, or you are an aspiring trader who is simply on a fact-finding mission.
Either way, after reading this iMarketsLive review article, you should be in a better position to make an informed decision as far as iMarketsLive is concerned.
You will have a better grasp of the company, its business model and how to get started and build a successful business should you decide to join.
iMarketsLive, also known as IML was founded in 2013 by professional trader Christopher Terry.
Currently, in over 120 countries, they are also reportedly working out a deal with China. The headquarters is based in New York.
Who is Christopher Terry?
Christopher Terry began trading in 1995 and became a full-time trader 3 years later. He has earned an impeccable reputation worldwide as a world class trader as well as a forex trainer.
Since he became a trader, Chris has helped thousands of traders all over the world gain financial independence through both live trading education and online mentoring.
Despite not having extensive formal education, Chris has become a favorite speaker at major conferences and expos in the forex and futures trading world.
He was in the construction business, both as an employee and eventually an owner for almost 12 years before he discovered commodities trading and started to take a serious interest in the markets.
After 3 years, he was confident enough to leave his business and become a full-time trader.
He markets iMarketsLive as a plan that seeks to combine the leverage of a team with the effect of good trading to help you make your own money and have time freedom.
What is iMarketsLive?
iMarketsLive is an ideal place for those people who want to earn income by trading the forex market.
Once you join iMarketsLive, then you will be able to open your own forex trading account with either one or a number of forex brokerage firms.
Once the professional traders execute a trade, the same trade is automatically executed in your account as well.
You can choose to continue like that indefinitely or start trading on your own once you are able to trade on your own.
If you desire to trade on your own eventually, there is a Live Trading Room where you will be able to watch the professional traders and how they make the trades.
This will give you a great insight on how the trading decisions are made. There are many other educational tools that are discussed there as well.
iMarketsLive Trading Room
This is hosted from Monday to Friday and you have a chance to see exactly what the experts are doing every day to win in the markets, what they look out for when trading and the areas that provide the best trading opportunities.
It is a unique opportunity to get inside the mind of a trader and learn what sets the highly profitable opportunities from the less profitable ones.
iMarketsLive Compensation Plan
With only the iMarketsLive affiliate membership available to be sold, the compensation plan simply revolves around the sale of affiliate membership.
The plan gives an opportunity to earn 8 different ways. This does not include earning by trading the forex market.
iMarketsLive offers a Fast Start Bonus commission, which you earn when you recruit a new affiliate into the company. It is paid as a portion of the recruited affiliate’s joining fee and it will be paid down up to 4 levels of recruitment.
Level 1- 30% (personally recruited affiliates)
Level 2- 10%
Levels 3 and 4- 5%
These residual commissions are paid out using a matrix. The 3×8 matrix places an affiliate at its top with three positions directly under (level 1).
The level 1 positions then branch out into 3 positions each (level 2) and the same is repeated up to 8 levels to create a total of 9,840 positions.
Within the matrix, each position is representative of a recruited affiliate. Affiliates join the matrix either by direct recruitment or the efforts of recruiting affiliates.
For each position in a matrix, the company will pay out 8% of the monthly membership fee of that affiliate as commission.
The affiliate membership fee is $247 per month which translates to $19.76 commission per position on the matrix. Note that an affiliate will not be able to earn on all the eight levels unless they are able to recruit new affiliates.
The Honest Truth
While all this may look easy on paper, the honest truth is that most iMarketsLive affiliates may never see the success they expected to get and will be unable to build their businesses up.
This is mainly because they do not know how to build a successful multi-level marketing (MLM) business.
This is the reason why the MLM or network marketing business is so polarizing because whether or not it’s a scam depends on who you ask.
There are those who are successful or claim to have been successful who will say it is the best business while there are those who found the going tough who only have negative things to say.
Since there are no tangible products on offer, iMarketsLive sounds like just another networking business where only the strong will survive.
Some have argued that the trade signals service is only a gimmick and that the $247 membership fee is the bread and butter of the business.
It is clear that the members are across all levels and are simply earning commissions on membership fees which are, to put it simply, earning on monies they have contributed themselves.
It has been marketed as a platform that combines the internet with the ever-green strength of word-of-mouth marketing.
Whereas good marketers can even “sell water to a well” as the adage goes, most people are very skeptical when it comes to network marketing schemes.
I hope that this article has taken you a step closer to making an informed decision.
It is important to note that while there are many “reviews” of many firms on the internet, a lot of them are actually written by people related to the firms they are reviewing and as such have a stake in them.
So always tread with caution.
iMarketsLive Review written by Jason (founder) HowToStaySafeOnTheNet.com