As the largest and most profitable financial market in the world, there’s no doubt that the foreign exchange trading industry can become susceptible to fraud. It’s possible for some operators to take advantage of innocent people through hiding behind the shadows of Forex trading, especially when dealing online. Most scammers narrow down their targets to beginners and uneducated businessmen, deceiving them through promises and benefits that one will “obtain” upon membership.
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Recently, the iMarketsLive Compensation Plan has been the focus of online entrepreneurs, with heavy discussions about whether the high-paying compensation plan is actually legit or not. For a review about the IML Compensation Plan, you can visit https://www.journalreview.org/imarketslive/.
What is iMarketsLive and its compensation plan?
Founded in 2013, iMarketsLive is an online marketing company that provides software and lessons about forex trading accompanied by an affiliate program. It sells knowledge and services to help aspiring businessmen about foreign exchange and cryptocurrency. The products and services include the following:
- FX Signal Live
- Harmonic Scanner Trading Education
- Live Training Room
- IML Academy
- Swing Trades and Night Owl Sessions with CEO Christopher Terry
- IML T
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All of these are included in their platinum package upon membership. This platinum package is sold for a $195 one-time fee and $145 monthly fee. However, you can be part of the community without purchasing the platinum package, as long as you refer two retail customers to purchase the platinum package.
Simply put, the iMarketsLive Compensation Plan has a multi-level marketing structure, which provides members multiple advantages and bonuses depending on the sales they’re generating. The main point of this compensation plan is to recruit and sign up more people into the business and have them sign up under your name. The more recruits you gather, the higher your rank will be. Ranking up will give you a good bonus in the weekly residual income, where you can have a payout weekly ranging from $37.50 to $125,000.
You work hard for what you get paid for
One of the good ways to differentiate a legit business from a scam is you get paid for what you work hard for. One of the obvious signatures of pyramid schemes is to introduce and recruit more people into the business, as you’ll earn a certain commission based on the number of people you recruit. iMarketsLive, on the other hand, focuses on teaching its members how to boost the sales of their products by working hard to sell it to customers.
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CFTC has spoken
Amidst all the issues and allegations thrown at the company that they seem to be another Ponzi scheme in the market, Truth in Advertising (TINA.org)—an independent nonprofit organization that’s been featured in news platforms such as Forbes, The New York Times, and the like—investigated them. IML COO Frank Gomez naturally responded to these claims and provided clear information about their company’s activity in order to address the issues TINA.org raised regarding the company’s legitimacy.
In addition, the FX Signals Live service offered by IML has been controversial due to the automated return on investment appearing on the accounts of 500 customers. According to IML, no such trades were executed but the accounts mirrored so iMarketsLive silently stopped their FX Signals Live Service in March 2018.
Check Online Reviews
To know how this company is fairing against its competition is to see what other people are saying about it. Don’t be afraid to check online reviews to gauge what users have to say. This can help you make your own mind up as to whether this company is legit and a potential to make good hard cash.
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iMarketsLive CEO Christopher Terry said that people who want to enter don’t necessarily need to have deep knowledge about forex trading, multi-level marketing, pyramid schemes, and other relevant concepts as these could be learnt in the long run. iMarketsLive provides a platform of both learning the entirety of Forex trading industry as well as applying the learned concepts to generate passive income. It’s a company that offers a variety of products and services, given that it only requires low start-up costs. This is a great option for clients who may be interested in this type of start-up method of making money.