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 changed 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 mind 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? But why, MLM? Maybe to make even more money?
So, he doesn’t seem to be a bad person; in fact, I think we can all learn from him. Also, I learned recently that he’s giving live conference on Sunday night every week. I think it is a cool thing from the founder to be active in the company and show he cares.
What bugs me is the MLM thing, but I think I can overcome this with the experience and knowledge this person has.
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.” – 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.” – 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.” – 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 it seems like a couple tools feel redundant. Maybe it’s just a feeling and it is not the case. If you have experience these tools, please feel free to leave me a comment at the end of this review. 🙂
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. Although, you don’t have the obligation to share the company to others. You will only be rewarded through their compensation plan if you do. The main reason people use their services is to learn how to trade, and if they can share it with friends or family then they’ll benefit a compensation. That’s pretty cool. Does that make IM Mastery Academy a scam? No.
They did not change their compensation plan so if you didn’t know, with three referrals 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). They are one of the only company paying weekly.
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. Talking for myself, I’m really interested in learning trading because I want to add another source of income to my wallet so definitely this course is on my list. What is interesting is that you can try it for one month and then leave if you don’t like it.
Next, about Christopher Terry there isn’t many information, but he seems like a dedicated guy who wants everyone to succeed (I hope so). Since the company is still young, we’ll see in the next years how it will go and if it continue to grow as fast as it does right now.
Important thing I’d like to point out!
If you are a beginner in trading and you’re not ready to invest $225 for one month (and I totally understand that), I suggest you to learn the basics of trading online via free websites (for example, Babypips). IT WON’T MAKE YOU A GOOD TRADER, but at least you’ll have a better idea of what it is and then, you could buy a course to become a real trader!
Another thing you can do is to read Trading in the Zone from Mark Douglas. Amazing book, I loved it! Again, it is not the ONLY tool you need to become a good trader but it is one of them. The more you know, the more you can become a unique trader. 🙂
So is it a scam? I suggest you to watch this video if you are really wondering what’s going on inside. This guy tried it for a couple months and he talks about his experience.
If you have any comments, experiences or questions, feel free to leave them below! 🙂