Maybe you’ve heard about iMarketsLive before? Well, it’s not a surprise because iMarketsLive was the name of this company before IM Mastery Academy. They change their branding name during the last convention that happened in Dallas on the weekend of September 14-15th, 2019. By the same time, they decided to add new features in their trading program.
According to IM Mastery Academy, it has never been so easy to become a trader in 2019 with all the tools and training they provide. Still, trading stays a tough job and not meant for everyone. Only the ones with a compelling mental will be able to succeed as a trader.
Now, after some more research on the web about this company, SOFF is asking one question: Is IM Mastery Academy a Scam? Since iMarketsLive has been reviewed in the past, in this review, I want to highlight the new features of this company and some other information that could help us tell if IM Mastery Academy is a scam. Without any further due, let’s dive in!
Name: IM Mastery Academy
Founder: Christopher Terry
Website: www.imarketslive.com (it is still under the old name, but its website has changed)
Price: $225 for the first month and $165 after (platinum package)
I have to admit that when I’m looking for a new company that promise I will make money, I need to know what is going on at the top. I need to know that it is safe and where it comes from. That’s why I wanted to take a more in-depth look at the founder Christopher Terry. He has a bad reputation on the web, and I thought that exploring on him would be maybe an answer to say if IM Mastery Academy is a scam. I don’t mean he would be the only reason if so, but let’s say that having a corrupt CEO is not suitable for the reputation of a company…
After doing some research, I was surprised to see that there is not much information about him, not even a Wikipedia page! And we know how it is not long before a wiki page appears on something when it comes out. So this was my first little light on ”hum that is weird”.
Still, I continued searching, and I found a website dedicated to him: whoischristerry.com. There I could find some information on his past career such as he’s been in the construction world, in the beginning, owning his company and when he decided that he wanted a life with more freedom, he got into Forex. It took him three years before making enough money to quit his company and work full-time as a trader; he had mastered his skills to become a professional trader. Until now, it all makes sense.
If this information is legitimate, after being into Forex for a couple of years, he decided to teach what he had learned to others. He started in 2001 to speak at conferences and for small private groups that were interested in learning to trade.
It’s in 2013 that he founded iMarketsLive. I didn’t find any other information about WHY he decided to start this company, but my wonder is: if he was already teaching his knowledge since 2001, why create an MLM company? My answer is: to make more money for sure. But why, MLM? To make even more money, duh!
So, he doesn’t seem to be a bad person; in fact, I think we can all learn from him but… And what I will say next is entirely my opinion you don’t need to agree with me. An MLM business model has the pyramid look (I think we can all agree on this though), this means that the person at the top will make a lot of money when many people come under that person. In IM Mastery Academy (iMarketsLive), an MLM company, who’s on top? Christopher Terry. So yes, I think he only wants to make a lot of money on the backs of others, he does not care about the products he offers, as long as people come in, that’s what interests him.
Verdict on Christopher Terry: not a wrong person but maybe bad intentions.
Since iMarketsLive has only changed its branding name to IM Mastery Academy, many tools offered are still there, and a couple more were added. In this present review, I will take a look at the new tools provided. If you are interested in knowing more about what already existed before in more detail, you can take a look at my review about iMarketsLive where I describe them. Since I didn’t test these tools if you don’t mind the explanation given is the one you can find on their website. Also, if you don’t care about their products and you want to know if this is a scam you can jump to the next chapter about their business model.
Let’s start with the first tool called Delorean. ”An algorithm that gets you in the right place at the right time with hundreds of market opportunities to help you find your own style.” I understand that this tool helps you find out about the different strategies that exist and choose the right one for you. – It costs $21.95 as an add-on.
Another one is called Steady. ”This algorithm looks for long term, swing trade ideas that you’ll be able to set and forget.” If you don’t feel like trading every day or every hour, I guess this tool could be helpful. – It costs $21.95 as an add-on.
Vibrata. ”This tool provides multiple strategies that look for trade ideas for you – no analysis needed on your end, ever.” They said it; trading has never been so secure. – It costs $9.95 as an add-on.
Levels. ”An algorithm that identifies entry points, stop loss and take profits one level at a time in the markets.” Interesting. – It costs $21.95 as an add-on.
Goldcup. ”This is a combination of strategies that correlate with one another and look for high probability trade ideas.” Another tool with trade ideas… – It costs $21.95 as an add-on.
Bounceback. ”This tool searches for and identifies the best entry points for you to get into the markets.” I think I read that in another tool. – It costs $21.95 as an add-on.
Pivots. ”This algorithm takes the guess out of finding market opportunities by identifying key reversal zones on many time frames.” Oh there, something new! I guess. – It costs $21.95 as an add-on.
Liberty. ”This tool focuses on finding high pace trade ideas for Binary Options.” Useful. – It costs $21.95 as an add-on.
All these tools are exciting, but I think many of them offer the same thing. I feel like they are trying to sell many different products with not so many different options. Here again, it’s my opinion since I didn’t try them.
Their business model did not change with their new branding name. It stays an MLM company with a product to offer: a trading school. Since it didn’t change, I won’t go too deep into it, but still, I can do a quick definition of what is an MLM company for those who don’t know (if you want to learn more about the MLM business model, check out my complete beginner guide here).
As Wikipedia defines it, ”an MLM or Multi-level marketing, also called pyramid selling, network marketing, and referral marketing, is a marketing strategy for the sale of products or services where the revenue of the MLM company is derived from a non-salaried workforce selling the company’s products/services, while the earnings of the participants are derived from a pyramid-shaped or binary compensation commission system.”
So if you didn’t know, IM Mastery Academy works under this business model. It doesn’t make it a scam automatically because some MLM models are legal, but it is not a business model that is recommended to get into.
They did not change their ”pyramid” revenue so if you didn’t know, with three persons under you earn $150/month, with 12 you earn $600/month, with 30 you earn $1000/month, etc. (they pay weekly so $37.50, $150 and $250 respectively) I know it looks tempting but remember that their first goal is to sell trading courses, not recruit new people (irony…).
Let’s take a quick look at some Pros and Cons now so that it can help us to have a better idea of what is going on with IM Mastery Academy and if we can answer is IM Mastery Academy a Scam?
Now the big question: is it a scam?
As an MLM company, we could be tempted to define it as a scam immediately, but I would not go on too fast with this conclusion. The reason is simple; they have legit selling products which are the trading courses.
Their first goal is to sell these courses so if you are interested in knowing more about trading, you can subscribe as a customer and buy their trading tools and courses to become a trader. If we focus only on this part, there is no scam since we have a company offering a product to its customers.
The problem that I see is that they highly promote their MLM business model, and they do not focus on what they have to offer to their customers. All that they truly want is new fish to grab so that they can make more money and there only for that, I can describe it as a scam.
In the business world, your focus should always be your customers to offer them the best so that they come back and that they are happy about the bought they just made. It should not be to sell them unreal lives with tons of promises that don’t make sense. Unfortunately, when I look at IM Mastery Academy, I feel like someone is waiting with his fishing rod to grab me just like they grab every other people.
Another essential point to talk about is the fact much FREE information is available online to become a good trader. Many websites are sharing exciting information on how to trade with different techniques, and they won’t charge you a single dollar. I have one in mind, which is called Babypibs, and there you can find complete training 100% free that explains the basics of trading.
So if I can recommend one thing; keep your money for a better opportunity if you want to make money. If you want to learn how to trade seriously, take a look at Babypibs (or any other free website where they teach trading) and read the book Trading In The Zone from Mark Douglas (definitely a must-read if you want to become a professional trader).
Yup, there is a better way to make money! Since I find it exciting and promising, I thought I could share it with you (if you are interested in making money!)
It is not an MLM company, so you don’t have the stress to recruit new people in your team to make money. This company, called Wealthy Affiliate, works with affiliate marketing. Is affiliate marketing the same thing as MLM companies? No, let me explain to you quickly.
Affiliate marketing is when you become a salesman for a company. For example, you promote an Amazon product, and for each sale, you earn a commission. It’s the same principle as if one of your friends was asking you to sell his table (it could be anything, a table is for example) for him. In exchange, he would give you 5% of the price you sell it. So basically, you don’t own the products, you only promote them to make more sales.
The most significant advantage of working as an affiliate marketer is that you don’t deal with the inventory, the shipping stuff and the after-sale.
So at Wealthy Affiliate, you have access to training to teach you how to become an affiliate marketer. You also have access to many professionals who can help you upgrade your skills and become better at it. Many other features are offered, I invite you to take a look at my long review about Wealthy Affiliate or my short presentation.
Starting the training is FREE and do not need any credit card information. You subscribe, and you start, as simple as that.
If you have any questions, you can contact me at yerdua (at) school-of-financial-freedom (dot) com. If you are ready to make money, this is a nice opportunity for you!