Welcome to my review of iMarketsLive.
If you are considering this opportunity but hesitant to buy into it because you are suspicious of it all then you are going to want to read this. There are a lot of people out there wondering is iMarketsLive a pyramid scheme due to the recruitment side of the business and that is going to be the focus here. I’ll also be going over a few other important things that you should definitely know beforehand.
iMarketsLive is a mlm company in the FOREX and Futures trading industry. What they do is provide tools and training for people looking to make money here. The company’s CEO is said to be a man named Christopher Terry, who is said to have made over $80 million in this industry.
There is some controversy surrounding this guy and there is no proof I can find of him actually making this much. On top of that it is also worth knowing that he was involved in Zeek Rewards, which was an online Ponzi scheme that was shut down by the SEC. However, there were a lot of good people involved in this and not everyone knew it was a Ponzi, so you have to give him the benefit of the doubt here.
Anyway, the point of this review is to look at iMarketsLive and determine if its a pyramid scheme. Because anyone can join them as an Independent Business Owner (IBO) and make money by selling to customers as well as by recruiting in other IBO’s beneath them, which is the part that has everyone questioning their legitimacy.
How You Make Money
Well as I just said, you will be making money by getting customers to join iMarketsLive for the products and services provided and you will be recruiting in other IBO’s beneath you and making money off of what they do. The full compensation plan is here if you want to read it, but I’ll summarize…
Every time you sell a Premium Package to someone you get paid $35. And if you move up the ranks a bit to that of Platinum 1000, you will get paid from the recruits beneath you selling this package, as well as the recruits beneath them.
Depending on your rank you can make anywhere from $37.50 to $125,000 per week. But of course moving up the ranks isn’t easy by any means. In order to move up the ranks there are requirements that you have to meet which include an increasing amount of retail sales that you make as well as an increasing amount Group Volume, which is the amount of sales you and those recruited in beneath you make.
Why It Can’t Be a Pyramid Scheme
I know it does seem awfully like a pyramid scheme. After all, recruitment of other IBO’s beneath you is literally a must if you want to increase your Group Volume and move up the ranks. However… it still isn’t a pyramid scheme and I’ll go over why.
The reason it isn’t is because iMarketsLive recently put into place what is called the “customer rule”, which says that 55% of the Group Volume must come from retail customers. So over half of the sales here are coming from you selling to customers who are buying in for the products, not for the business opportunity.
A pyramid scheme by definition is one that relies on revenue generated from recruiting in other business owners too heavily. And since iMarketsLive requires that they rely on customer sales for 55% of the Group Volume, well then it cannot be one.
There was a time when this rule wasn’t in place. When iMarketsLive first came out they did not have this 55% customer rule and I’m guessing they put it in place to avoid being shut down.
Conclusion on iMarketsLive -Good Business Opportunity or Not?
Although iMarketsLive is not technically a pyramid scheme it still isn’t the amazing opportunity that many people make it out to be. Because of the pyramid-like structure of this mlm business it is going to be hard to make money with, which is why the turnover rate in the mlm industry is so high and so many people fail. I recently reviewed Asea & Ambit Energy (2 other mlm’s) and its always the same story.
Pretty much you are going to need to be good at recruiting to make it here. And not just recruiting in new customers, but also new IBO’s. You absolutely need to increase your downline to move up the ranks and make good money. And of course this is easier said than done.
Some people will make good money here but most people just won’t because of the nature of the business. You need to be at the top of the pyramid to make good money. You want those commissions flowing up to you. And because there will always be more people at the bottom due to its shape, this means there will always be more people struggling.
So if you are going to join just know the reality of it. Many people in this business try to make it seem better than it is just to recruit you in.
On another note… Something else that you might want to look into if you are looking for a work-from-home job is how I make money online. I make a living online and enjoy what I do. Here is the program that got me started and got me to where I currently am, which I am still a member of.
Questions, comments, concerns? Leave them below in the comment section and I’ll get back to you soon ?