Company Name: iMarketsLive
Costs: $15 initially then $15/month
Do I Recommend iMarketsLive?
As with any MLM, you can potentially make money with iMarketsLive. But especially here, the odds seem slim. The biggest issue is the products. With this company, you’re promoting a set of software that could help people make money with trades. Equally, it could mean they lose money.
This makes it a risky way to earn money for yourself and you could easily damage friendships along the way. I recommend turning to affiliate marketing. You can promote any products you want on a website, or even nothing at all, and just make money from the ads provided by Google. Even if Forex markets and futures is your passion, I think there are a lot more products out there you could potentially promote in the industry.
What Products Does iMarketsLive Sell?
iMarketsLive is based on trading in the Forex and futures markets. The company offers various tools that are designed to increase the chance of making successful trades. This includes software that mirrors the trades of experts, along with education and training.
The last tool is a harmonic scanner. If you’re not involved in trading already, this one may not mean much. But, it’s basically a package that scans and charts data, with the goal of identifying patterns you can take advantage of.
The overall point is that iMarketsLive should theoretically give you an edge in the market. But, does it actually?
I’m not an expert in trading, not by any means. But, trading scams are extremely common. One common approach works through binary options trading and offers software that is designed to dramatically increase your odds of winning. It doesn’t live up to all the promises and people often lose hundreds of dollars through the schemes.
What iMarketsLive offers are more sophisticated than just a piece of software and their claims aren’t excessive either. So, there is a chance that the approach is legit.
Nevertheless, there are some major red flags as well. The first problem is the various reviews for iMarketsLive. Many of these are excessively positive and have nothing negative to say at all. This is a common pattern for any MLM but it is always concerning. Overwhelmingly positive reviews tend to come from distributors and they are often heavily biased.
There is also an interesting review from the site ValForex and I’ve seen similar articles elsewhere too. The writers on this site do have a background in trading and are in a better position to know whether the products from iMarketsLive are actually worth using.
In the article, ValForex highlights the way that many members are losing money with the system. The tools clearly aren’t working or at least, they’re not effective for most people using them. And really, this is no surprise. Any service that uses auto trading approaches takes control away from you – and can easily mean that you lose money.
There is also no system in the field that can guarantee earnings with trading. Even expert traders who know their field inside and out often struggle and are at the mercy of the market. At best, the education and tools at iMarketsLive will give you a minor edge. Realistically, you’re much more likely to lose money.
Customers of iMarketsLive don’t make a single purchase. Instead, they pay an ongoing membership for a Platinum Package. This gives them access to various products. The cost is $195 initially and then $145 each month. That cost doesn’t include any money that is used on the market.
If the various tools helped people to make money, the price may be worth it. But, as I mentioned before, that seems unlikely. The ongoing cost also means you’d need to earn at least $145 extra per month just to break even.
Is iMarketsLive A Good Business Opportunity?
So then, iMarketsLive focuses on trading tools. But that’s only one aspect of the business. The other aspect is the MLM, which is particularly interesting. The MLM component basically gives you a second way to earn money – by getting other people involved.
The company lets you sign up as an IBO (independent business owner). Despite the name, you don’t own a business per se, you’re basically just working for iMarketsLive. As such, you’re entirely dependent on the company.
To be an IBO, you need to pay $15 initially and then $15 each month. You don’t even have to buy the product yourself. That gives people the ability to promote iMarketsLive without even using the tools themselves.
This system sounds powerful and does lower your costs. But, you’re not making money if you just recruit people. Instead, you mostly earn by getting them to buy the Platinum Package that I mentioned earlier. You then earn $35 per sale you directly make. It’s not clear from the compensation plan but you probably earn a similar amount for every month that the person continues to pay for.
The $35 fee is roughly 18% of what the customer pays. Compared to other MLMs, this is on the low side but not dramatically so. It is still more than you would make with many affiliate marketing programs. But, there are limitations, which I’ll go into later on.
Beyond simply selling the Platinum Package, there are additional ways to make money. The goal here is to recruit people into the company and then get them selling as well. If you can do so, you earn bonuses and commissions based on their success as well as your own. For example, the table below shows bonuses at three tiers in the company.
So, if you progress far enough, you can earn $10 per sale from the people that you recruit and $5 per sale from the people that they recruit. That’s pretty nice. There are various other bonuses too. These include percentages based on the income from your team, along with payouts when you hit new ranks.
On paper, this looks amazing. And yes, the income potential is high. The catch is that you have to get there first.
The various bonuses are related to your progression in the company. The further you go, the more you can earn. To progress, you need to recruit people under you and grow your team. At the same time, the sales of your team need to increase. As you do this, you can go up the ranks and each new rank gives more income opportunities.
To give you an indication, the requirements for the first three ranks look like this:
This means you have to have 12 active people recruited to even hit the second rank and 30 to hit the third. The highest rank requires 5,000 people in your downline! It’s easy to see how this gets complicated fast.
In practice, most people struggle to make sales and to recruit. Many of your contacts simply won’t be interested in the field, while others may not have the time or the money. Even if you do find some interested people, getting enough to build a decent downline is a different story entirely.
Now, you could just stick to the lower ranks and earn a little bit. If you’re just looking for some pocket money, this may be a viable option. But, even at that level, success isn’t as easy as it sounds.
Issues With iMarketsLive
It’s unusual to find an MLM like iMarketsLive. The way that iMarketsLive operates offers some advantages but also some major disadvantages.
The first issue is the nature of the products. With most companies, you’re selling physical items that have value in their own right. For example, Stella & Dot has you selling jewelry and accessories, while Wildtree has you promoting food-related products.
In those cases, people are getting products that they want and often get to see samples before buying. The products will often be overpriced and may be of poor quality. But, even so, people know roughly what they’re getting before they pay.
That’s not the case with iMarketsLive at all. Instead, you’re mostly selling the promise of making money. Doing so is always a problem – because not everyone will be successful. If the negative reviews are to be believed, many people may lose money through iMarketsLive.
Technically speaking, that’s not your fault. After all, there is always some risk involved in trading and no system is perfect.
But, that’s a technicality. If you get people involved who lose money – they’re probably going to be furious. That’s not a good business strategy. Plus, if you want a long-term income from iMarketsLive you need to make more sales as time goes on and get others buying the services. Doing this would be tough if many of the people you do recruit are unhappy.
On a related note – most MLM salespeople promote to a warm audience. This means people you already have a connection with, like your friends and family. If you do manage to sign up these people and they then lose money, you could easily damage important relationships.
As such, it’s worth weighing up the pros and cons before you get started.
One other issue is where the commission comes from. With most MLMs, recruitment and sales are closely linked. Higher recruitment tends to mean more sales. Members often need to buy expensive kits to get started and you would earn a commission on those two.
With iMarketsLive, the design is different. People can become a distributor without ever buying the products. And, many would want to. After all, why risk losing money in the market when you can just promote the products on their own?
This aspect makes it more difficult to make money, as most (or all) of your income come getting people to buy the services from iMarketsLive. And honestly, getting people to part with their money isn’t easy at the best of times.
Will It Work For You?
In theory, you can make money selling just about anything. But, some things are much easier to promote than others. iMarketsLive falls on the difficult end of the spectrum. This means you need to seriously think about whether it will work for you.
First off, do you know enough about trading? You don’t need to be an expert trader to make money with the company. But, you would want a decent understanding of how the approach works and what might make people interested in iMarketsLive.
Another consideration is your audience. Some people will be very interested in tricks to make more money in the market. Others won’t even care. If you have an audience with enough knowledge to be interested, then your potential to make sales would be higher.
Personally, I don’t think iMarketsLive is a good fit for most situations, especially as people trading may not make money. Even so, if you have the right audience, the potential is there.
How To Actually Make Money With Markets
iMarketsLive may seem interesting if you’re passionate about trading. But, there are other options in the same field, ones that are more sustainable.
One powerful approach is to write about markets. For example, you might run a blog that focuses on what to look for when you’re trading on the market and talk about ways to spot scams. Some bloggers also offer advice about trades or talk about changes in companies that may be relevant.
There are countless different options. The general idea is to simply provide value. Think about what information people trading would want to know and go from there.
With this approach, you’d be building your own site and making money from it. To do that, you might turn to affiliate programs, or perhaps you would run ads on your site. Either way, you have the chance to make money in this field without having to mislead or manipulate.
This approach also means you can be your own boss. You end up being the one in charge, rather than having to rely on a company like iMarketsLive.