Searching “imarketslive” on Google and scrolling down the page makes it seem like lots of people are concerned as to the legitimacy of the company. There are questions such as “Is IML a pyramid scheme?” and websites such as “iMarketsLive Review: Legit or Forex Scam?”
If you’re wondering the same thing, you’ve come to the right place. This review will give you an overview of the company and give you a summary of some of the reviews out there.
Before we go any deeper into understanding IM Academy, I want to make one thing clear: If you don’t already have a lot of extra MONTHLY cash, you aren’t ready for this program! Why do I say this? First, you need to have cash to buy the program AND a significant amount of extra MONTHLY money to start trading with after that. Do not invest money that you can’t afford to lose. Look up Dan Lok’s wealth triangle. It is basic financial advice: 1) Build a business or get a job that makes you a significant surplus every month (like thousands of extra dollars monthly). 2) After you are making $10,000 per month, then, you’re ready to dive into investing.
That’s why I recommend building a profitable business FIRST. It is easier than you think. Doing this is less work, less risky, and less expensive, than investing. IN FACT, our recommended solution below even works for teenagers! They do the whole thing via email, no phone calls required. Click here to get a Free Video On This Business Model. I’ve been doing this for almost 20 years. My own kids are using this course to setup autopilot businesses online that require very little ongoing work.
Here’s a video of my teenage daughter using this:
The course my daughter used above is much better than IM Academy. But since you are here to learn about IM Academy, lets get back to our review of that:
Who Is Chris Terry, The Founder Of IM Academy?
Chris Terry is the president and CEO of IM Academy. His net worth is at least $2.6 million dollars. He has been a trader full time since 1998, and before that worked in the field for three years. Before he chose to become a speaker, he worked in construction for over a decade. Chris is a popular speaker at many of the big derivative conferences, but does not have an extensive formal education.
From the late 1990s until 2012, Chris worked with Linda Raschke on one of the leading Live Trading websites on the internet. Then in August 2012, he started IMarketsLive. In the talks around the country head already been doing lots of mentoring type stuff, but IMarketsLive was a business he created specifically devoted to that.
According to an article about it on ACCESSWIRE, IMarketsLive has over 300,000 active members. The company’s goal is to help “make it easier to understand the forex, digital currency, high frequency & e-commerce markets”.
What Is The Internet Saying About The Program?
All over reddit’s forex trading community, people say that it is a scam, a pyramid scheme, and the information can be found for free on other websites. The one mentioned the most is babypips.com.
Lots of the posts are from people who don’t mention ever having done it. These two are from people who say they had tried it, and they are both disconcerting.
One person gave a very detailed review; here’s the summary.
While Reddit has little but bad stuff about iMarketsLive, the company has 3.51 out of five stars on Better Business Bureau, and has 4.1 out of five on trustpilot.
This is an example of a one star review on Better Business Bureau. I’ve seen various claims that IML continued to take from the debit even after the person had cancelled their subscription, and other complaints about difficulties in cancelling the subscription.
There were some people who said they tried to contact the company for help, and then the company blocked their email and they could not get through to have help cancelling the account. Those various comments made it seem like iMarketsLive tries to pull in the customer and not let them leave. Here’s an example of a similar complaint.3
Here is a positive review on Better Business Bureau. The writer of the review says that the writers of the negative reviews must have not been putting in the work needed to succeed and then were disappointed.
The censoring here is concerning. The writer of the review mentioned another place to learn about forex and MMO, but somebody decided that the name of that company should not be shared.
All of those reviews were on BBB, here’s a negative and a positive from trustpilot.
Clearly this person did not just skip out on the work, like the review before said all bad reviews must have. The reviewer says he was successful, but he attributes none of that success to iMarketsLive, but says he had to unlearn stuff from the company.
This person has spent a significant time on iMarketsAcademy, has earned money with it and is happy with it. I saw one person who said that while there is a big element to getting others to join IM Academy, you might be lucky to get a “mentor” who isn’t so into that. It’s possible that was the case with this person.
Should You Invest In IM Academy?
It can’t be all bad, but at the same time, iMarketsLive has a bad reputation grounded in some truth. Before signing up, it would be wise to check out free websites teaching the same sort of skills, and if you still want to know more after working those to then begin to consider signing up for something paid. Best of luck!