Is an IM Mastery Academy a new company teaching how to trade currency?
Do you see any connection with a company iMarketsLive? You are right, there is a connection they both are the same but in a different time 🙂
Don’t worry this is not going to be an article about time traveling. My point is that iMarketsLive is a predecessor of IM Master Academy.
IM Mastery Academy, as an official company, has been around since the middle of September 2019, so not that long (as the time of the post is December 22nd, 2019).
Before it was called iMarketsLive. The website iMarketsLive still works, but it is precisely (to the letter ) the same as www.im.academy.
Why did they change their name (and also domain name?)
Do they keep changing the name because of something fishy going on behind the curtains?
Is IM Mastery Academy A Scam?
Well, the answer is not that straightforward and we are going to explain why this change has happened and what is going on with this new-ish company called IM Master Academy.
We are going to check also the Income Disclosure, so you get an idea of how much people make within IMMA.
Name: IM Mastery Academy
Website: www.im.academy (or www.imarketslive.com)
Price to Join: $225 or $325 a month (Depends on Starter Package up to $3,150 a year)
Recommended: Not Really
What Do I recommend: In my opinion Affiliate marketing is a much better way how to generate income. If you would like to find out more here is an article MLM Vs Affiliate Marketing, where I explain the Pros and Cons of both systems.
What is IM Mastery Academy
IM Mastery Academy is an MLM company teaching about the foreign exchange market (Forex). They provide courses and tools that help develop trading strategies, show real-time trade ideas and one can get more information regarding the Forex market.
Forex is a trading business concerning the relative value of one currency vs. another.
IMMA provides tools and training that becoming a trader is easier than ever.
This is at least how it is presented on their website.
Now, let’s take a look at who is behind the IMMA.
Christopher Terry as the current IMMA CEO started in the construction business. He realizes that this is not the way he wants to go, so he gets into Forex.
After 3 years he finally can leave the construction company for good and starts as a full-time trader.
In 2013 he founded iMarktesLive.
This was officially an MLM company, but the only way to make money was through recruiting.
So it was an outright pyramid scheme. To avoid the lawsuit, he changes the name of the company and changes the strategy as well.
He adds products the to company portfolio so people involved within the IMMA must sell these products.
These products are courses on how to trade with currencies – Forex.
The trading courses are the core of their business now. That is the main difference between now and before.
For example, an IMMA representative has to have more than 50% of the sales/commission from the product retail before he can recruit.
This gives a legitimate aspect to the IMMA.
Is IM Mastery Academy Pyramide Scheme?
Pyramid schemes are illegal in most countries.
Regarding the IM Mastery Academy, we see above that it is not anymore the pyramid scheme. Having a product within its portfolio, IM Mastery Academy is a legit MLM company.
If the question would concern the predecessor (iMarketsLive), then yes – we have to say that yes. The iMarketsLive was solely focusing on recruiting.
With a new name, the IM Master Academy also introduced a new “game plan” where now they focus on selling the products as well.
The recruiting part still plays a big role when it comes to making money with IMMA.
To avoid any confusion though, here is a short explanation about how to spot a pyramid scheme:
What is the Price to Join?
There are 4 basic Starter Pack IMMA offers.
1) Platinum Starter Pack $225
2) Elite Starter Pack $325
3) High-Frequency Pack for $179.95
4) Digital Currency $179.95
Depending on which pack you choose, you are provided also with a variety of tools.
Here is a short overview of all 4 packs and tools included:
You can also change the pack, or switch from one to another as you wish.
IMMA offers also so-called Prime Pack. Those who want to save money, it is possible to buy more packs at a time.
- Elite 3 Month PAck costs $825 (save $50)
- Elite 6 Month Pack costs $1,600 (save $100)
- Elite 12 Month Pack costs $3,1250 (save $200)
There is a possibility to partner with IMMA and become an Independent Business Owner (IBO).
When it comes to IBO, I would like to share with you my opinion.
It is always interesting to listen to these people from MLM when they talk about recruiting.
They go like: “as your list grows” or “as your customer list grows, you have more and more subscribers…”
Let me tell you one thing straight – people you are about to recruit, they just don’t show up.
You have to chase them. You have to find these people and it is not an easy task to talk people into joining such a “business opportunity”.
You can try to sell them the dream – to sugarcoat it a bit, but it is not an honest way. That would be taken advantage of by people. And since IMMA is an MLM you are recommended by your sponsor to recruit your family members and friends.
These people know you, so it should be a better chance to convince them.
I don’t know whether you have some experience with MLM marketing, but most people soon run out of friends and family members.
They just don’t want to be bothered anymore.
Products, That IM Mastery Academy Offer
The packs that we have covered above are also the courses you can sell.
If someone chooses to become an IBO, he or she can purchase the following tools individually as add-ons.
Let’s break down a bit some of the tools that are part of the packs as well:
- Vibrata – This is a tool that is supposed to help you to find trade ideas, so you don’t have to spend time doing an analysis.
- Levels – This tool identifies entry points, stop loss.
- Delorean – An algorithm supposed to find you the best market opportunities, the best different strategies and helps to suits you the best style.
- Steady – This helps you to look for long term trading ideas, so you don’t have to keep your eye one it every single day.
- Goldcup – Combination of different strategies that have a mutual connection with each other, and searching for high probability trade ideas.
- Bounceback – This tool should help you to identify the best entry point to get into the markets.
- Pivots – This algorithm “guesses out of finding market opportunities by identifying key reversal zones on time frames”
- Liberty – This tool concerns the high pace of trading ideas for binary options.
How Can You Make Money with IM Mastery Academy?
Once you sign up for the IMMA, you become an Independent Business Owner (an IBO). You recruit other people and thus you create your downline.
There are 11 levels you can climb.
To become a Platinum 150 ( which is the lowest rank), you need to have at least 3 subscribers and meet certain retails sales goals. Your subscribers will buy one of the starter packs (either the Elite or Platinum Starter Pack)
Having 3 direct referrals (subscribers) you can earn up to $40 a week (that is about $160 a month or about $2,000 a year)
Now the way it is explained in the IMMA presentation, it seems like it does not require a lot of effort to get to the upper level, which is Platinum 600.
Let me tell you how they explain it:
“…what starts to happen, as your customer base grows, you have more and more subscribers, people start referring this as they’re having success. You (your “team”) grow to 12. It’s 3 customers who can obtain 3 customers so you don’t have to recruit all 12 by yourself. You make $150 a week.”
This is the way they talk:
As your network continues to grow, you make more and more money – residual income.
It looks really easy, right?
But think about that.
What kind of effort you have to make to get these 3 subscribers. And these guys would have to be better good as you are.
Each of them has to find another 3 persons, otherwise, you are not qualified to be a Platinum 600.
To make a full-time income, you would need to be at least the platinum 5000 (see the table below).
Based on the information in the Compensation Plant there are only 179 people who are at the level Platinum 5000 and/or above.
179 persons out of total IBOs 26,557 is 0.6% = 6 people out of 1,000 making a full-time income.
That is a very low number.
Here is a screenshot of the IMMA Income Disclosure for 2018.
It is very difficult to make a decent living as an IBO within the IMMA. Not mentioning that going out and “chasing” people might be exhausted and time-consuming. At the end of the day, you most likely lose money.
Think about the travel cost and the time you literally wasting while visiting your prospects.
Time is precious and it is always better to spend the time creating something sustainable, therefore my recommendation is to check the article where I describe the difference between the MLM and Affiliate Marketing.
To me, affiliate marketing is much more lucrative in the long run.
Regarding the earnings withing the IMMA – The IBO has also an opportunity to earn a commission every time a referral buys one of the starter packs.
Your referral buys a Platinum Starter Pack you get a $35 bonus.
In case your referral buys the Elite Starter Pack, you get a $50 bonus.
The bonus system applies to the 2nd and 3rd generations.
Meaning you get a bonus:
- $12 for every Elite starter pack in your downline – but you must be at least Platinum 600 and above
- $7 for every Elite starter pack in your downline – you must be Platinum 1000 and above.
Here is a screenshot from the IMMA presentation:
My suggestion for a person who wants to make money by joining the IM Master Arcade is to reconsider a different path.
That is affiliate marketing.
You don’t have to chase anybody and you can do that at your own pace.
What I like About IM Master Academy
- Courses that can help you to trade on the foreign exchange market (The knowledge is not deep enough though, to apply that and start earning)
- Compensation plan focused not only on recruiting but mostly on selling the products as a primary source of income (this way it diminishes the pyramid scheme aspect)
- The company offers a 7-day money-back guarantee.
What I don’t like About IMMA
- Success is not a common thing within IMMA – see the Income Disclosure (less than 5% make a decent living)
- Expensive to join
- Courses – do not give you enough to become a proper trader. It is very difficult to become a successful trader using solely IMMA courses.
Is There Another Way To Generate the Income?
People have been exchanging currencies since ancient times. There were people who helped others to do the exchange for a commission. I am not going to talk about history now.
My point is that it takes much more than just taking all IM Academy courses to become a successful trader with currencies.
Besides, the agenda of IM Academy is not to teach its members to become a full-time currency trader but to grow their network marketing.
Not long ago they used to be a pyramid scheme without any product to sell.
To avoid a lawsuit, they have made changes and introduced products as a money-making opportunity for the members. But are these products/courses worth the money?
Do people get valuable information?
The trading business might be too complicated for a newbie. IMMA courses will not make you an expert in foreign exchange trading.
IMMA is presented as a company where one can learn about trading and make money using this knowledge, the truth is that it is just another MLM company.
If you are sick and tired of the MLMs and you still have energy left to learn something new I would recommend you check other paths.
What is much easier to learn is internet marketing. I am not saying that you will learn how to make money online overnight.
But currently, people pay a ton of money for and online education – when it comes to internet marketing. That has been around only a few years, unlike the trade market – that has been here long before the internet.
Due to the internet, you now can let others know about what is your passion and most importantly you can educate/help others as well.
There are plenty of specific niche websites making a 4 or 5 digit in a month.
– f.e. you like taking photos, or fishing. maybe cycling.
Do you know how many people want to be advised by someone who is just a little more experienced? I mean for many users a piece of advice from a regular fella is much more appreciated and has more value than from a professional.
That being said, anyone with a passion or a hobby can become a successful internet marketer. The best way to start is affiliate marketing.
You, providing help on your website, will gain an audience and they would be asking you how to become better and they would like to buy stuff.
Here is when you should give them advice, what to buy and what to avoid.
If you want to find out more about both business models, you can read the article MLM vs. Affiliate marketing where I include the PROs and CONs of both.
In case, you don’t have experience with how to build a website and create content, no worries. I did not have either.
In fact, in the middle of 2018, I had a hard time coming up with content. But it is important to realize that such a blog post is just a communication between you and the guy on the other side. (Instead of talking to each other, he consumes your blog posts and he can leave a comment).
As for the “technical” part about how to build up a website, there are many free videos on how to start.
In my case, I needed something more than a free tutorial video on YouTube.
I wanted to have professionals who show me exactly how to do that.
Here is the link about the platform where I have learned about the website and affiliate marketing.
Hopefully, we have covered all the pros and cons of the IM Master Academy, I have explained why it is not a good idea to go down that road.
In my opinion, internet marketing has much more potential, and it is a perfect business model for those who want to work from home (and from any place on earth with an internet connection).
If you have any questions about the IMMA, or the alternative I have mentioned, please use the comment section below.
I will be more than happy to give you feedback – usually within 24 hours.