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.
- Product 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
- Recommendation: Not recommended
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 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 in 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 is 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 CEO’s 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 CEO’s and owners 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 basically 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 a nice 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 plan and rewards.
Although IM Mastery Academy has some elements of a pyramid scheme, it isn’t’t totally operating as one.
Basically 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 afterwards $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 on a monthly basis 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, piptalk, goLIVE, and harmonic scanner.
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 your 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 they purchase a pack.
Also, you still get paid when the person recruited by your recruit recruits another that buys a pack.
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 revolves 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.
They went in the right direction by focusing more on actual education.
Similarly, having more retail incentives would move the company further away from 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 MLM’s 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:
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 MLM’s, 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.
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 of making 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 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 a MLM – AARP Foundation
- 26%: The meager amount of people who actually earn a profit participating in MLM’s
- 53%: This is the percentage of MLM participants who earn less than $5000 a year
- 39%: the number of people who QUIT MLM’s 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
- 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 MLM’s never made a sale
- 60%: percentage of people involved with MLM’s earned less than $500 within the last 5 years of joining
- 32% of people involved with MLM’s financed their MLM “business” by getting in creditcard debt
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 MLM’s: Due.com
- Multi-level marketing: Wikipedia
- Multilevel Marketing: “The Research, Risks and Rewards”: AARP
Is There A Better Option?
If you’ve made the decision 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 complete 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?
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