IM Mastery Academy – Forex MLM Review
Is IM Mastery Academy a platform that will teach you how to make money online? Are you aware that iMarketsLive has rebranded and gone with the new name IM Mastery Academy (and the company, as well as their products, did not change)?
If you are wondering if this company is legit, then this IM Mastery Academy review is for you. In this post, you will get to discover the company’s background information, compensation plan, registration cost, and more.
Quick Summary
- Company Name: IM Mastery Academy
- Founder: Christopher Terry
- Website: www.imarketslive.com (it is still under the old name, but its website has changed)
- Registration cost: $225-$325, plus monthly fees
- Rating: 5/10
- Do I Personally Recommend: I don’t recommend this for new online marketers – keep reading to find out why
About IM Mastery Academy And Christopher Terry
Christopher Terry is the founder and CEO of IM Mastery Academy. I tried to do additional research to find out more about Christopher Terry, but there is not much information about him. What I was able to find is that Terry used to be in the construction field.
Although he owned his own construction company, apparently he wanted a life with more time, money, and freedom, and decided to transition into Forex. After 3 years of hard work learning how to master the skills necessary to trade professionally, Terry was able to make enough money to quit the construction business and make a full-time living as a forex trader.
iMarketsLive Is Now IM Mastery Academy
IM Mastery Academy used to go by the name iMarketsLive. Everything is pretty much the same; this forex and trading company just changed its name. Even though they have a strong product line and do a lot of work to drive sales (not focused on recruiting), I still don’t recommend this platform to anyone.
I won’t advise you to join because most people who do join only earn little money or end up losing money (on average, you can earn $52 a year). Initially, this platform operated as a pyramid scheme because recruitment was the only way to generate revenue (no earning opportunities or retail opportunities).
However, the CEO decided to improve their compensation plan and make retail sales more prevalent. Alex Morton, who has experience in multi-level marketing, became a board member and has attempted to resurrect iMarketsLive. The company then switched its name to IM Mastery Academy in September 2019. Similarly, you will find that MLM companies make changes like this often, and they do this to improve their branding and their business.
IM Mastery Academy – Earning Opportunities
What you need to think about is this: When it comes to making money online, should you learn how to trade stocks? The answer to this question really depends on where your finances are at in life. What you need to understand is trading and investing are only designed primarily to increase your overall net worth for years in the future.
Trading and investing are not set up to pay for your monthly living expenses, however, when you become proficient in the stock market, it absolutely can pay your monthly expenses and bills. The hard fact is that trading in the stock market can net you big gains, but you can also lose big as well.
Therefore, understand that trading is a risky proposition at best.
Similarly, the potential for loss is always present; you’ll learn some valuable lessons if you make a bad trade, however, being a member of IM Academy won’t shield you from possible losses. If you are thinking about promoting iMarketslive/IM Academy MLM, you need to understand that on the MLM side, most members aren’t making good money.
No doubt, the CEOs and owners who are at the top will make sure they make good money, however, the average associate is not profiting. My advice to you is to join a program where a large number of members are making money, not just the CEOs and others at the top. IM Mastery Academy is an MLM company. When you sign up with MLM companies, you will receive a commission when you sell their products.
You will also be rewarded when you recruit people and build a downline; you will receive commissions based on the sales in your downline. This earning opportunity may look attractive, but is it a flawed way to earn (I will tell you why as you read further). At one point, iMarketsLive was just red flags. Even though they tried to clean things up, SEC registration was still a problem.
Offering passive income-earning opportunities without registering with the SEC is securities fraud. However, this issue has been rectified. In addition, the newly introduced MLM superstar, Alex Morton, had worked with an MLM company in the past, which was reported to be a pyramid scheme by the FTC.
Is IM Mastery Academy a Pyramid Scheme?
This is an important question to ask before you venture into an opportunity. The company operated as a pyramid scheme in the past because of its lack of retail products, compensation plans, and rewards. Although IM Mastery Academy has some elements of a pyramid scheme, it isn’t operating as one.
IM Mastery Academy is a multi-level marketing platform with a retail product to offer: a forex trading school. Therefore, you can earn money on this platform without recruiting when you sell the courses for commissions. Also, the compensation plan requires specific amounts in retail sales to make money. Thus, you will not make money on this platform if you are focused only on recruiting people.
IM Mastery Academy – Registration Costs
You will have to purchase any of their starter packs to join IM Mastery Academy. Their packages include:
- Platinum Starter Pack – $225
- Elite Starter Pack – $325
- Affiliate Membership – $16.71 per month
If you do become an associate of IM Mastery Academy, they will recommend that you purchase the ‘Elite Starter Pack’. The reasoning is that the Elite Starter Pack will give you complete access to the full range of IM Mastery Academy products and services.
However, the Platinum Package will cost $324.94 one-time, then afterward $274.95 per month. This is an expensive price, especially for those who are new marketers. This is one of the reasons I don’t recommend joining IM Mastery Academy. In my opinion, $274.95 every month is just too expensive when you’re trying to learn how to make money online.
Platinum Starter Pack. You will pay $225 for this pack, and it comes with the Mastery Academy and other tools you’ll need to help you be successful.
Compensation Plan and Recruitment Commissions
The platform has 11 different IBO ranks, and you will have to hit specific goals (both recruitment and sales) to move from one rank to another. Members receive bonuses when they move from one rank to another.
Also, you will receive a commission each time you recruit a person into your downline and the person purchases any of the starter packs. You will be given $25 if your recruit purchases the Platinum Starter Pack and $50 if they go for the Elite Starter Pack.
Similarly, you will also earn when your recruit brings in someone, and purchase a pack. Also, you still get paid when the person recruited by your recruit recruits another that buys a pack.
Residual Income
You get rewarded by the platforms on retail sales up to three generations. To qualify for these commissions, you need to have three active customers that you recruited personally. You can earn $150 monthly when you bring three customers.
Also, earning $600 a month is possible once you get 12 customers (either personally recruit or recruits in your downline). You can make close to a thousand dollars per month if you have 30 customers.
This continues until you reach 30,000 subscribers, where you get to earn $125,000 weekly. However, you only qualify for commissions when you reach at least 55% retail commissions (this prevents the formation of a pyramid scheme).
IM Mastery Academy Products
The products they offer revolve around Forex trading – trading foreign currencies.
They have many products to offer, which you can get when you purchase any of the starter packs or pay for the main products (IM Mastery Academy), and add-ons.
Is IM Mastery Academy Legit?
IM Mastery Academy is a legit MLM. The way the company is presently structured, it went in the right direction by focusing more on actual education and retail. Similarly, having more retail incentives would move the company further away from the pyramid scheme territory, which would be a positive for the company.
Other than that the IM Academy is doing the right things in the Forex MLM market. IM Mastery Academy is one of the top MLMs in the Forex niche and has stood the test of time. If I wanted to join a Forex MLM, it would be IM Mastery Academy.
Similarly, IM Mastery Academy is similar to other trading platforms I’ve reviewed on this blog such as:
Let me be clear on this: I’m not saying you can’t make money with IM Mastery Academy. What I am saying is because it’s attached to the MLM business model, your chances of success are just that – a chance!
Readers of this blog know that I’m NOT a fan of multi-level marketing, regardless of the company it’s connected with. There are specific reasons why as the following subtopic will discuss.
Multi-Level Marketing Is A Bad Business Model
After an exhaustive study of over 300 MLMs, the Federal Trade Commission found that 99% of people who join multi-level marketing companies lose money.
That applies to ALL MLMs, the best and the worst companies. Do you understand what that means? If you join an MLM organization you only have a 1% chance of not losing money. I don’t find those statistics very encouraging when it comes to joining an MLM business.
Here are some additional hard facts you need to consider before joining ANY multi-level marketing business
- 99%: According to the Federal Trade Commission this is the number of all MLM participants who lose money
- You are 38%: more likely to make money with your own small, home-based business than by joining an MLM
- There is a 10% – 20% higher rate of making a profit with an online business than it joining an MLM
- You would have a 300 times higher chance of winning a game of roulette in Las Vegas from 1 single spin of the wheel than you would be making a profit with an MLM
- 47%: The number of participants who flat-out lose money according to the AARP Foundation
- 27%: the percentage of people who make no money whatsoever in an MLM – AARP Foundation
- 26%: The meager amount of people who earn a profit participating in MLMs
- 53%: This is the percentage of MLM participants who earn less than $5000 a year
- 39%: the number of people who QUIT MLMs because of trying to sell services and products to family and friends damaged their relationships
- 50%: Percentage of MLM reps who quit within 1 year after joining
- 95%: The respective number of reps who quit within 10 years or less
- 75%: The number of people who have participated and left an MLM and state that they would never join another MLM in their life
- 1,049: The number of MLM reps who make less than 70 cents an hour according to a 2018 poll of MLM reps representing various companies
- 20%: of people involved with MLMs never made a sale
- 60%: percentage of people involved with MLM earned less than $500 within the last 5 years of joining
- 32% of people involved with MLM financed their MLM “business” by getting into credit card debt
References
References for the above facts are from the following sources:
- The Case (for and) against Multi-level Marketing By Jon M. Taylor, MBA, Ph.D., Consumer Awareness Institute
- 3 Mind-Blowing Statistics About MLMs: Due.com
- Multi-level marketing: Wikipedia
- Multilevel Marketing: “The Research, Risks and Rewards”: AARP
Warning: The RED Flags of Schemes and Scams Online
These are some of the things that you need to watch out for with multi-level marketing companies similar to IM Mastery Academy, as they are red flags that should not be ignored.
- A FREE Trial Is NOT Offered By the Company
This is a big one to look out for. Most information products are worthless, and if you could jump directly into those products and “try them out” before investing in them, you would never invest in low-quality substances. That is why they hide behind a payment. If their information is so good, should they not prove it by giving you a taste?
Does IM Mastery Academy Offer a Free Trial? NO
2. Companies That Don’t Clearly Outline Pricing
If you go to a sales page for a product and they don’t disclose the price clearly, you will likely get “duped.” Any legitimate company will offer clarity on pricing and have a pricing page on their website. MANY companies in this industry HIDE their pricing; it is unethical, and it will almost certainly wind up scamming you. Also, if the company is charging $ 1,000 for their products, it should be of concern.
Does IM Mastery Academy Offer Clear Pricing? NO
3. MLM Companies That Use Video Sales Pages / Squeeze Pages
If you visit a “sales page” and the only thing you see on it is exaggerated promises of quick money, this will almost certainly be an expensive, overpriced scam. This marketing tactic is used to HIDE pricing and hide the product itself. They typically ask for your email or a small payment, and then you will be put through an extensive and expensive sales funnel.
Does IM Mastery Academy Use a Video page for their opportunity? YES
4. Companies That Don’t Have a High TrustPilot Rating
IM Mastery Academy has a 3.9 rating on Trustpilot. A 3.9 rating out of 5 on Trustpilot is a good rating. TrustPilot is where you should get real consumer reviews about products/services you plan on buying. If a company doesn’t exist on this website or has a rating lower than 4.5 out of 5 stars, you may want to seriously reconsider joining. There are going to be better programs and services available without the financial risk.
Does IM Mastery Academy have a high TrustPilot Rating? NO. Thay have a good rating, but not a high rating of 4.5 or better.
5. Multi-Level Marketing Companies That Sell “Riches” Without Telling You the Process
If you are being pushed by the idea that you are going to be “rich” without telling you what you will be doing to earn this money (in a specific way), then they are selling the sizzle…and chances are there is no “steak” after you make your purchase. Avoid programs like this like a plague.
Is the IM Mastery Academy Income opportunity confusing? YES
6. Companies Without an Easy Way to Contact Them
If you don’t have a direct way to contact the company to answer questions about their program, they are hiding behind something. That is the first clue, and I recommend you test it. If the company has an email address, email it. If you don’t get a response within 48 hours at most, then that is probably the sort of help you can expect in the future.
Can you easily contact the administrators at IM Mastery Academy? YES
7. Companies That Don’t Offer Direct Access/Communication with the Owners
Who owns the product? Can you get help and communicate with them directly? If NOT, then this program is more than likely in the business of taking your money. CEOs in the opportunity world who are unwilling to communicate with their customers directly have a “too good for you” mentality, which should be avoided.
Can you contact the owner of IM Mastery Academy directly? NO
8. Companies That Are Just “Information”
If they are providing you with “ideas” about how you could create a business without offering you all the tools, services, and levels of ongoing support that you need to succeed online, you will have a tough time succeeding. Many companies charge you for their information and then tell you that you need to purchase all sorts of stuff actually to use the techniques taught.
Is the IM Mastery Academy opportunity just information? YES
However, there is a platform available that will teach you step by step how to build your own online business, an ethical platform whose primary focus is to help everyday people learn how to make money online, a platform where you can immediately have access to individuals who are highly successful with their online businesses.
Introducing Wealthy Affiliate, The Industry Leader in the Online Business Space…
- WA Offers a Free Trial
- WA Offers Clear Pricing
- WA Offers a comprehensive website
- WA has a High TrustPilot Rating
- WA is not a get-rich-quick scheme
- WA offers a clear way to contact the company
- You can contact Kyle & Carson directly
- WA offers tools and support
(1) Companies That Don’t Offer a Free Trial.
This is one of the key reasons I want to introduce you to Wealthy Affiliate. You can get a “test drive” to Wealthy Affiliate, but that doesn’t end, and there is NO credit card requirement. This is their Starter membership, including more than any paid product I have seen in this industry. Here are a few things you get with the COMPLETELY FREE Starter membership.
- One Free Profit-Ready Website (Hosting Included)
- Getting Started Training, 10 Full Video Lessons
- 7 Days of Full Mentorship & Expert Help
- Communication Directly with Kyle & Carson (the founders)
- Keyword and Market Research Tools
- The Affiliate Opportunity Platform
- Ability to Network with Millions of Fellow Entrepreneurs
- 100’s of training resources
- And Much More!
(2) Companies That Dont’ Clearly Outline Pricing.
Wealthy Affiliate’s pricing page clearly outlines three available memberships: a Starter membership (FREE), a Premium ($49/month), or a Premium Plus+ ($99/month). There are no upsells, and nothing more complex than this. You are not obligated to upgrade, but if you do decide to, you can run a million-dollar online business utilizing the platform and tools that Wealthy Affiliate offers.
(3) Companies That Use Video Sales Pages / Squeeze Pages.
Wealthy Affiliate offers a comprehensive website where you can learn more about the exact process of building an online business and all of the platforms, technology, and services involved that are offered to you as a member; this includes a thorough outline of WA’s education, hosting, website, domains, community, and success elements.
(4) Companies That Don’t Have a High TrustPilot Rating.
WealthyAffiliate.com has a 4.8 STAR rating on TrustPilot. The owners personally get back to every comment, and this leads to the industry. It is tough to achieve a rating like this in any industry, let alone the make-money-online niche.
(5) Companies That Sell “Riches”.
One thing you will not hear from Wealthy Affiliate in their training or marketing is “get rich quick.” The reality is that to build a business, you first have to build a solid foundation and understand it. Wealthy Affiliate provides you with the tools, training, and platform you need to create a business of any size online (even million-dollar websites). Still, it would be best if you were realistic about the process. It will take some hard work and dedication.
(6) Companies Without an Easy Way to Contact Them.
You can contact Wealthy Affiliate directly from their website without being a member. They have a contact form, and the owners freely share their email addresses if you need to contact them or have any questions. They are kyle@wealthyaffiliate.com and carson@wealthyaffiliate.com. Feel free to reach them directly if you have questions, and of course, as a member, you will have access to them within the community. Which leads me to…
(7) Companies That Don’t Offer Direct Access/Communication with the Owners.
Wealthy Affiliate is the most transparent company in the space and offers you access to Kyle and Carson, the founders, directly within the community. If you want help from them directly, ask. You can even access them for their help and mentorship within the first seven days of the Starter membership…so without paying a dime, you can access both owners directly!
(8) Companies That Are Just “Information”.
Many things are required to build a successful online business, and Wealthy Affiliate includes all of them. To build an online business, you need a website, top-tier hosting, marketing and research tools, ongoing education of the latest marketing strategies, writing tools/platforms, and a way to find the TOP opportunities online. Not to mention support, mentorship, and expertise. These are ALL things that Wealthy Affiliate provides you with any membership level, equipping you to create, grow, and manage a business of any level online.
No other company in the industry offers a free “test drive,” as they likely don’t have the confidence that someone would purchase a trial. WA gives you access to its platforms, websites, hosting, research tools, community, and support within the free membership…so there is ZERO risk, and you can decide if you ever want to purchase a premium membership.
Is There A Better Option?
If you’ve decided that IM Mastery Academy isn’t right for you, there are other ways to learn how to make money online.
From my experience, the best and easiest way to make money online is with affiliate marketing, especially if you are new at trying to make money online. I say this because with affiliate marketing cold calling strangers and trying to convince potential clients to do business with you isn’t required.
Also, you can start affiliate marketing on a shoestring budget. If you want to learn about affiliate marketing, click on the banner below and have a look at Wealthy Affiliate.
Wealthy Affiliate is the best course that I know of that will teach you how to make money online through affiliate marketing. The best part? Wealthy Affiliate is free to try! Since it’s FREE to try, you literally have nothing to lose.
To learn more click below:
