IM Academy (formerly iMarketsLive) Review - Cryptocurrency & Forex MLM

Founded2013

HeadquartersNew York, New York

Trust Score36/100

About IM Academy (formerly iMarketsLive)

IM Academy (formerly iMarketsLive) is an online financial education platform based in New York, founded in 2013. It offers courses mainly focused on Forex trading, but has expanded into various financial markets.

The company operates on a network marketing model, which means that independent members can earn commissions not only from selling subscriptions but also from recruiting new subscribers. However, with a Trustpilot rating of just 1.5/5 and a trust score of 36/100, many users have raised concerns about high subscription costs and misleading income claims.

IM Academy (formerly iMarketsLive) has faced regulatory scrutiny in multiple countries and has been banned or warned in some jurisdictions. So, while the idea of financial education sounds promising, it's crucial to tread carefully with this MLM.

Pros and Cons

✓ Pros

Access to Forex Education
IM Academy offers a variety of educational resources for those wanting to learn about Forex trading.
Potential for Passive Income
If you can recruit effectively, you might earn through their binary compensation structure.
Community Support
Many members report a strong community vibe, which can be motivating for some.
Flexible Schedule
You can work on your own time, which is appealing for those with busy lives.

✗ Cons

High Subscription Costs
Starting fees can be steep, making it a financial risk if you're not earning.
Regulatory Concerns
They've faced scrutiny in several countries, which raises red flags about their business practices.
Recruitment Focused
The compensation plan heavily rewards recruitment over actual product sales, which is a big concern.
Misleading Income Claims
There are numerous complaints about unrealistic income expectations being promoted.
Low Trust Ratings
With a Trustpilot score of 1.5/5, many users have expressed dissatisfaction with their experience.
Banned in Some Areas
They've been warned or banned in multiple jurisdictions, indicating potential legal issues.

Verdict: IM Academy has some appealing educational resources, but the high costs and regulatory concerns make it a risky choice. I'd advise caution and recommend looking elsewhere unless you're comfortable with the risks involved.

Best for: This might suit someone who's really into Forex trading and can handle the financial risk, but if you're looking for a stable income, it’s best to steer clear.

Risk Analysis

IM Academy faces significant risks due to regulatory concerns and a compensation structure heavily focused on recruitment. With a low Trustpilot rating and high subscription costs, it's essential to approach this company with caution.

Key Concerns

Regulatory concerns in multiple countries high
Banned or warned in several jurisdictions, indicating serious legal scrutiny.
High subscription costs moderate
Members often pay high fees for educational materials that may not deliver promised results.
Recruitment-focused compensation high
The compensation plan emphasizes recruitment over product sales, common in MLMs with high failure rates.
Complaints about misleading income claims high
Trustpilot rating of 1.5/5 suggests many users feel misled about potential earnings.

Consumer Advice: If you're considering joining IM Academy, do thorough research and be wary of high upfront costs. Understand that many people in MLMs struggle to profit, and be cautious of promises that seem too good to be true.

Frequently Asked Questions About IM Academy (formerly iMarketsLive)

Is IM Academy (formerly iMarketsLive) a legitimate MLM company?

IM Academy (formerly iMarketsLive) has a lot of red flags. It’s faced regulatory concerns in multiple countries and has a low TrustScore of 36/100. Many users question its Forex education model and the focus on recruitment.

What products does IM Academy (formerly iMarketsLive) sell?

IM Academy (formerly iMarketsLive) offers Forex education and trading tools. Their platform includes live webinars, educational videos, and trading signals. However, some people argue the educational value doesn’t justify the high subscription costs.

How much can you make with IM Academy (formerly iMarketsLive)?

Earnings with IM Academy (formerly iMarketsLive) vary widely, but many reports suggest it's tough to make significant money. The compensation plan includes retail commissions and bonuses, but it relies heavily on recruitment. Some users have complained about misleading income claims.

What are the complaints about IM Academy (formerly iMarketsLive)?

Complaints about IM Academy (formerly iMarketsLive) often focus on its high subscription costs and misleading income promises. With a Trustpilot rating of just 1.5/5, many users feel disappointed with the services offered. They also face bans or warnings in several jurisdictions.

What is the compensation plan for IM Academy (formerly iMarketsLive)?

IM Academy (formerly iMarketsLive) uses a binary compensation plan. You can earn retail commissions on subscriptions, a 10% binary commission, and bonuses for recruiting new members. However, the focus on recruitment raises concerns about its sustainability.

How much does it cost to join IM Academy (formerly iMarketsLive)?

Joining IM Academy (formerly iMarketsLive) can be pricey. Subscription fees are generally high, which some users feel isn’t justified by the education provided. You’ll need to weigh that cost against what you’d actually get.

What’s the BBB rating for IM Academy (formerly iMarketsLive)?

IM Academy (formerly iMarketsLive) doesn’t have a BBB rating, which is a bit concerning. This could suggest they’re either too new to have accumulated reviews or they’ve had issues that kept them from getting a rating.

Are there alternatives to IM Academy (formerly iMarketsLive)?

Yes, there are several alternatives to IM Academy (formerly iMarketsLive). Other MLMs and Forex education platforms might offer similar services, often at lower costs. It’s a good idea to compare what’s out there before committing.

Is IM Academy (formerly iMarketsLive) worth joining?

Whether IM Academy (formerly iMarketsLive) is worth joining really depends on your goals. If you're looking for Forex education, there are cheaper options. Plus, the high subscription costs and recruitment focus can be a turn-off for many.

Compensation Plan

Plan Type

This is a binary compensation plan. In simple terms, it means you build two teams (or legs) under you. You'll earn money based on how well those teams perform.

How Earnings Work

Retail Profit: You earn money when you sell subscriptions directly to customers. This is your retail commission.
Team Commissions: You get 10% from the subscriptions sold by your team members. The more they sell, the more you earn.
Customer Bonus: For every new subscriber you bring in, you get a bonus. This is an added incentive to recruit.
Check Match: You can earn a commission based on the earnings of your team members, up to five levels deep. So, if your team does well, so do you.
Rank Achievement Bonuses: If you hit certain ranks in the company, you can unlock extra bonuses. This can motivate you to grow your team and sales.

Qualification Requirements

You need to maintain a monthly subscription to qualify for earnings.
To access higher earnings, you’ll need to rank up, which requires building a larger team.