- 8 Money Management Techniques - January 4, 2021
- What Is the Best Possible Time to Trade - October 26, 2020
- How To Identify Seasonal Patterns in The Stock Market - September 16, 2020
iMarketsLive Review – Is it a Legit Platform or Pyramid Scheme
Thanks to the internet, forex trading can be done at any time from the comfort of your home. However, there are many fraudulent online brokers out there. If you’re not careful, you may fall prey to them and lose all your capital. This is why reading reviews is important when traders want to switch brokers or to start trading forex. One of the well-known forex trading exchanges out there is International Markets Live.
International Markets Live, also known as iMarketsLive, has been in the forex trading and education game since 2013. It was founded by Christopher Terry, and its headquarters are in New York. iMarketsLive has a wide reach as it is accessible by traders in over 120 countries. While many other brokers simply provide a platform for traders to execute trades, iMarketsLive offers software and forex training aimed at helping investors make the best out of trading.
In its simplest definition, ImarketsLive is a financial trading software that helps traders make profitable decisions through the iMarketsLive Trading room that is broadcasted every day from Monday to Friday. The Trading gives you the chance to watch and learn from seasoned iMarketsLive traders as trade live. You will see the strategies they are using to actually beat the market, how to find high potential opportunities in the busy and highly volatile Forex market, and common mistakes you should avoid.
The “Master Trader,” CEO Chris Terry, is often in the trading room to teach you how to trade like a pro.
Commissions and Fees
The fees and commissions on iMarketsLive depend on the package you want. Those who are interested in the platinum package are required to pay $195 at first and $14O. The other package, the IBO Platinum Package, costs $200 upfront and $150 monthly.
While both packages give you access to all the products and services, you will not be able to join the multi-level marketing scheme unless you pay for the IBO Platinum Package. Joining the multi-level marketing scheme allows you to earn a commission each time you invite a new trader to join the platform. The more traders register under you, the higher the commission will become. There is no limit to how much money you can earn.
Trust, Security, and Safety
iMarketsLive has some serious safety issues. For starters, it isn’t listed as a BBB accredited business even if it has an A BBB rating. Also, the founder of the platform, Christopher Terry, has been in trouble with the SEC in the past when two of his multi-level marketing schemes failed. At the time, the SEC issued a press release stating that they have shut down his Ponzi schemes and seized more than $600 million from ZeekRewards.com. This has given iMarketsLive a bad reputation, but it has still managed to get many subscribers on the platform.
Since it’s established, the brand has managed to attract more than 55,000 users. It is currently offering its services in more than 120 countries across the globe.
The desktop version of ImarketsLive is ideal for a typical forex trading platform. It is fast and uncluttered. There are various features available, including an autopilot option that allows you to earn without visiting the platform for active trading. You will do little to nothing before you start earning.
Other features that make for friendly user experience on the desktop platform include the live trading room (for webinars and training for traders), Harmonic scanner (software that is used for technical analysis), and training room (a library made up of a vast collection of resources). The desktop version also has the fx signal live (software that automatically executes trades), as well as the details about the iMarketsLive commission plan.
The mobile app is available for free on major app stores. You can get access to all the educational resources you need from the mobile app, just like the desktop app. Payment plans can be renewed via mobile as well. The iMarketsLive mobile app has a 4.4-star rating on Google play store. This shows that most users are satisfied with the experience.
Opening an Account
To open an account on iMarketsLive, visit the website and go to the registration page. You’ll see an option to either register as a new member or an IBO member. When you click on the registration link, you’ll see an option to provide the username of the person who referred you to the platform. You’ll subsequently be redirected to a page where you’ll be asked to fill in your details for account creation. Don’t forget to read the terms and conditions before clicking the create account button.
Deposits and Withdrawal Options
Since iMarketsLive isn’t like your regular cryptocurrency or forex exchange, withdrawals and deposits are unique. Before you can start enjoying the educational resources, you have to subscribe to a plan.
If you have subscribed to the IBO plan, you will earn 8% of your subscription for any new member who registers. The more members you recruit, the more you will earn. You can withdraw your money as soon as it crosses the required threshold. Both your trading and referral bonus will be paid out at the same time.
Registering on iMarketsLive is an investment. You’ll be using your money to make money. As long as you can convince other people to join, the platform claims that you can make up to $125,000 weekly depending on your level. The higher the level, the more money you’ll make with no limits attached.
Research Tools, Insights, and Education
The major goal of iMarketsLive is to train traders. So, there is a collection of resources geared toward providing the knowledge required to succeed in the forex and cryptocurrency trading world.
There are more than 60 full-time educators, along with 100 educational videos, and webinars. You can opt for swing trades, night owl sessions, swipe coin cryptocurrency education sessions, web analyzer education sessions, foreign exchange market education, etc.
Few forex trading platforms are like iMarketsLive. It is a fully functional educational platform that offers training for beginners and advanced traders while rewarding them along the way. The multi-level marketing scheme gives a fair commission even if it may require a lot of work on your part.
The fact that you can also decide to stick to learning and trading while you leave the commission earning out of it makes it stand out. Another special feature is the auto trade feature that allows traders to earn money while they are at work, on vacation, or relaxing at home.
If you’re looking for a platform where you can learn everything you need to know about forex and cryptocurrency trading for a fee, iMarketsLive is ideal for you. The educational platform allows you to earn money by inviting new traders, which is not common in the Forex industry. However, keep in mind that the CEO of this platform has a bad reputation. So, it is important that you only spend money you can afford to part with on iMarketsLive.
While forex trading is already considered high risk, a combination of forex and MLM makes iMarketsLive riskier than other platforms. However, it also makes the possibility of earning a significant profit higher. If you don’t mind taking the risk, you can sign up to start using iMarketsLive today. Otherwise, you can look for alternative platforms that offer similar services but have clean records.
Is this your final decision?
We suggest you visit one of the most popular trading platforms instead!
- iMarketsLive offers extensive educational resources to traders allowing even the novice to pick up quickly.
- Traders can earn commissions by inviting other traders in a multi-level marketing scheme.
- There is a harmonic scanner that allows traders to study the patterns in the forex market.
- It has an extensive training room where traders can attend webinars and receive all the training they need.
- Your first order attracts 50% commission as a bonus.
- There is no BBB accreditation.
- The user interface is ideal for experienced traders.
- Membership can quickly sum up to $2000 yearly.
7 Binary Options review: iMarketsLive: 3 stars