Untold Truths About IM Mastery Academy Pyramid Scheme Rumors

Untold Truths About IM Mastery Academy Pyramid Scheme Rumors

Hey, this is Zac here, the owner of Life Goal Finisher. I welcome you to my unbiased IM Mastery Academy review.

Let me take a quick guess on why you are here…

Chances are, you get bombarded by invitation from your homies to join IM Mastery Academy and earn lucrative money through Forex trading.

But, when you take your time to research the company’s background, you found that their business model is tied to MLM, which makes it look like a high-yield investment program.

And you’re looking for more info about the company to check its legitimacy, am I right?

No matter what reason that brings you here, I must thank you for clicking on this page and read my review on the company.

That’s the exact way to avoid scams and find a legitimate way to make money online!

Rest assured, I’m not an associate with IM Mastery Academy (and I never will), so I won’t pitch you to buy any products or even join the company.

I spent over 7 hours writing this review based on my research and information available on google. So you don’t need to.

That said, any recommendation and conclusions are only opinions and may not apply to all persons or situations.

Without further ado, let’s get started!

Table of Contents

Company Overview

IM Mastery Academy Pyramid Scheme - IM Mastery Academy Logo

Company Name: IM Mastery Academy

Business Niche: Forex MLM

Startup Cost: As low as $15

Founder: Christopher Terry

Website: https://www.imarketslive.com/

Direct Competitors: CK Ltd1000 Pip BuilderProfit Unlimited

Pros

1) Rapidly Growing Revenue
2) 7-Day Money-Back Guarantee

1) Overpriced Courses
2) Forex Trading Is Risky
3) Success Rate is Rare At IM Mastery Academy
4) The Company Shady Past
5) Horrible Reputation

Overall SCAM Rating: 50/100 (Normal)

Recommended: Not Really

The Better Option: Learn how to make money online for FREE and turn your passion into profits. Click the button below to uncover my top recommended training.

What Is IM Mastery Academy?

Based in New York city, IM Mastery Academy is a multi-level marketing (MLM) company in the Forex trading niche.

Christopher Terry founded IM Mastery Academy in 2013. They don’t always have this name. iMarketsLive is a predecessor of IM Mastery Academy.

They offer a range of forex trading courses, tools, and resources that help beginners develop trading strategies and show them real-time trade ideas.

Their business model works pretty much the same as CK Ltd, a potential Forex scam in Malaysia.

Who is Christopher Terry?

Founder of IM Mastery Academy - Christopher Terry
 
Christopher Terry used to be an employee of a construction firm.
 
He got into Forex through serendipity and discovered his true passion in the field.
 
It takes him 3 years to start making enough money from trading, which allows him to “fire his boss” and venture into the world of Forex trading full-time.
 
Christopher Terry decided to package his skills and knowledge into a course to teach what he had learned to others.
 
However, he plays a different game.
 
Instead of just selling the course like other gurus and experts out there, he integrated his courses with MLM structure, and that’s when iMarketsLive was born.
 
But, iMarketsLive was alleged to be designated as an outright pyramid scheme because there was no money-making opportunity outside of recruitment. 
 
They then faced a massive hit in pyramid scheme lawsuits from several regulators.
 
Chris was forced to shut down the company, and rebranded it into IM Mastery Academy in September 2019.
 
The most significant change here is that they removed the trading bot after the rebranding, trying to steer clear of any future legal issues.
 
Also, they hired the MLM superstar – Alex Morton, who helped them brought back the company from the grave by switching up their compensation plan and made retail sales more prevalent.

IM Mastery Academy Products

IM Mastery Academy has deficient information on its official website, they don’t provide the compensation plan, and you can only sign up with them through their Independent Business Owner (IBO).
 
The following analysis has been put together based on the pieces of information that I sourced from their IBO.
 
IM Mastery Academy has classified their products into 2 major categories, viz,  ‘Monthly Plan’, and ‘Prime Plan’.
 
Let me list out their pricing for your information.

Monthly Plan Options

#1: Elite Starter Pack

Price: $324.94 for the initial 28 days, then $274.95 per month.

#2: Platinum Starter Pack

Price: $234.95 for the initial 28 days, then $174.95 per month.

#3: High-Frequency Forex (HFFX) Monthly

Price: $234.95 for the initial 28 days, then $174.95 per month.

#4: Digital Currency Monthly

Price: $234.95 for the initial 28 days, then $174.95 per month.

Prime Plan Options

Prime Plan options are for the people who want to save money by buying more packs at a time.

#1: Elite 3 Month Pack 

Price: $825.00 / SAVE $50

#2: Elite 6 Month Pack 

Price: $1600.00 / SAVE $100

#3: Elite 12 Month Pack 

Price: $3150.00 / SAVE $150

Besides these packs, they also offer many additional tools at a special price if you do decide to use them.

These tools included:

  • Harmonics – “patterns in the forex markets help you identify potential reversals in the market” (also offered in a cryptocurrency variant)
  • Delorean – “an algorithm that gets you in the right place at the right time with hundreds of market opportunities.”
  • Steady – “this algorithm looks for the long term, swing trade ideas that you’ll be able to set and forget.”
  • Vibrata – “provides multiple strategies that look for trade ideas for you – no analysis needed on your end, ever.”
  • Levels – “an algorithm that identifies entry points, stop loss and take profits one level at a time in the markets.”
  • GoldCup – “a combination of strategies that correlate with one another and look for high probability trade ideas.”
  • BounceBack – “this tool searches for and identifies the best entry points for you to get into the markets.”
  • SwipeTrades – “access real-time forex trade ideas and market analysis & education sent straight to your phone” (also offered in a “SwipeCoin” cryptocurrency variant)
  • Pivots – “this algorithm guesses out of finding market opportunities by identifying key reversal zones on many time frames.”
  • Liberty – “this tool focuses on finding high pace trade ideas for Binary Options.”

(Source: BehindMLM.com)

Adding up all the necessary fees, the startup cost in your first year with IM Mastery Academy will easily go up to thousands of dollars.

How To Make Money With IM Mastery Academy?

IM Mastery Academy is a multi-level marketing (MLM) company. You can already tell that.

You might know that most MLM compensation plans are complicated and difficult to understand than solving a Rubik’s cube blindfolded.

IM Mastery Academy failed to provide a copy of their compensation plan on their website, making it worst for me as I have to do extra works to piece together the plan after hours of researching. 

All in all, here’s the process of how you can get started with their MLM program and earn commissions.

How you can make money with MLM

Here’re some further explanations of the figure above…

1) Pay The Joining Fee

Paying to join is like a norm in the MLM world. There’re very few MLM companies that don’t require you to pay a fee to be their associate.

At IM Mastery Academy, you can either get started by purchasing their starter packs or pay their IBO membership fee for as low as $15.

However, the resources and tools you can from the company will be very limited if you just go for their IBO membership plan.

2) Ways To Make Money

There’re just 3 ways for you to make money from IM Mastery Academy.

#1: Forex Trading

If you buy into their course, you’ll learn how to self-trade step-by-step and start making money.

#2: Retail Commission

Whenever you make sales by promoting their packs to other people, you will earn a percentage of commission, and the person who bought through your link will become your downline.

#3: Residual Commissions and Other Bonuses

As you built up a solid downline team, you can earn residual commissions from the sales made by your downline.

There’re 11 levels in the IM Mastery Academy MLM program. The higher you ranked, the more commissions and bonuses you’ll be qualified to earn.

3) Leverage Your Downline Team

Like most MLM companies, if you want to reap the maximum benefits from the MLM program, you have to recruit downlines who can branch out your circle.

Nobody within an MLM structure is making good money by just selling the products. 

The high achievers in MLM often have downlines signed up in the layers below them.

I know this sounds unethical, but it’s an inevitable fact in MLM. I believe this is the main reason why MLM often has a bad name in public. 

Are you tired of MLM & Internet Scams? Why not learn to start your own business instead?

This is a FREE training. No credit card info needed.

Pros

1) Rapidly Growing Revenue

According to the data shown in BusinessForHome.org, they show the revenue of the company is growing every year.

IM Mastery Academy's Revenue Growth From 2015 - 2019
IM Mastery Academy's Revenue Growth From 2015 - 2019

Personally, I think it’s a great sign for IBO as the data tells that the products from the company are still much in demand.

2) 7-Day Money-Back Guarantee

A good refund policy could help a company to gain trust from customers easier.

It’s also necessary because not everyone will satisfy with the services offered by IM Mastery Academy. 

If you’re not satisfied with their services, you can still apply for a refund within 7 days.

Cons

1) Overpriced Courses 

This is the biggest downside of IM Mastery Academy. 

Their courses are EXPENSIVE! Thousands of dollars every year is quite a hefty expense. But, the knowledge might not be deep enough to apply that and start earning.

From a beginner standpoint, I don’t think it’s affordable, especially for those who run on a tight budget.

The courses are already hard enough to market because there’re very few people interested in Forex trading.

If the price point is too high, I believe that the sales of the IBOs will be affected severely.

Frankly, I think the money might be well-spent in the brick-and-mortar business rather than buying into the courses.

2) Forex Trading Is Risky

The forex market is the biggest financial market globally, with over 5 trillion trades every day, but it’s also the most volatile market compared to other markets.

That said, Forex trading can be risky for complete newbies who don’t have a solid financial background.

It may sound like a lucrative business, but if you have no idea what you are doing, you can say goodbye to your money in just a blink of an eye.

3) Success Rate is Rare At IM Mastery Academy

Still remember that I said the IBOs couldn’t make enough money because of the hard-to-sell courses?

This could be easily proved by the 2018 iMarketsLive (IML) Income Disclosure Statement because their compensation plans are more or less the same.

2018 iMarketsLive (IML) Income Disclosure Statement

Here’re some of the key points from their income disclosure:

  • 96.3% of the members earned less than $1,367 on average in 2018.
  • 45,924 of the 52,706 never made it past the entry rank of ‘IBO’.
  • 40.25% of all IBO’s earned nothing from IM Mastery Academy.
  • Only 20,107 IBO’s earned any income at the entry rank. The remaining 25,817 earned absolutely nothing. 
  • Only 1 in 909 IBO’s earns a full-time income from IM Mastery Academy

These data are all sourced from Finance-Guy.net.

Can you see how difficult it is to make a decent living as an IBO within the IMMA? 

This isn’t surprising because such “pyramid-shaped earning” is happening in most MLM companies.

Only the TOPPs (top-of-pyramid) who joined the MLM program early are making enough money.

4) The Company Shady Past

IM Mastery Academy is the rebranding of iMarketsLive.

Years before, iMarketsLive was forced to shut down due to its legal issues with several regulators as they’re sued to be designated as a Pyramid Scheme. 

Even if it doesn’t impact IM Mastery Academy, it is something to be aware of.

As there’s a saying goes: “A Leopard Never Changes Its Spots,” am I right?

5) Horrible Reputation

At the time of writing this review (20 July 2020), Better Business Bureau (BBB) has filed 396 customer complaints on the company over the past 3 years.

The complaints are focused on 2 areas:

  • The Billing/Collections
  • The Problem with a Product or Service

In the recent complaints, many customers are complaining that they aren’t getting any refund from the company within the 7 days after signing up.

The complaints look like these:

Customer complaints on IM Mastery Academy
Customer complaints on IM Mastery Academy

I’ve considered the refund policy as one of their “pros”, but I worry they ain’t keep their promise. 

It seems to be very hard to get back your fund even though they have a 7-day money-back guarantee..

So, Is IM Mastery Academy A Pyramid Scheme?

Don’t you dare lie to me GIF

A legit MLM provides their member with actual product/service to sell while allowing them to recruit downlines at the same time. 

So technically, I can say that IM Mastery Academy is not a pyramid scheme because they’ve actual services for associates to sell, and they have a compensation plan in place.

However, you might rather choose Forex trading to make money than relying on their MLM program because of the low earning potential.

If you’re someone like me, who don’t like to bother friends and relatives and talk them into joining such a “biz opp” where most people lose money, then their MLM program is definitely not for you.

You Deserve A Better Opportunity

Kudos to you! You’ve just read 2400+ words and still counting. If you make it this far, I commend your commitment.

Meanwhile, I can also feel how serious you’re when it comes to finding a proper way to make money from home.

MLM is great. 

I am also not saying that people can’t make a decent living with MLM. But it often represents a tiny group of people who joined the program early.

That said, it’s challenging for people who’re BOPs (bottom-of-pyramid) to make some serious dough because they’re running out of people to “recruit”.

MLM Unilevel Compensation Structure

Instead, Affiliate Marketing is my top recommended business model for anyone to make money from home.

The reason is simple…

Advantage 1: No Recruitment Needed

  • You don’t need to “chase” after people and talk them into MLM opportunity where most people lose money.

Advantage 2: Freedom of Choice

  • You can promote any products you love and not be restricted only to promote the products from one MLM company.

Advantage 3: Low Startup Cost

  • Unlike MLM, where you’ll need to pay a pricy introductory fee to join, it takes little to no startup cost to kickstart your entrepreneurial journey in Affiliate Marketing.

You might think I’m biased, but I’m just telling the truths…

If you are sick and tired of MLM and “Biz Opp” Scams, click the “Learn More” button to discover my top recommended learning platform that can help you turn your passion into profits with Affiliate Marketing!

No BS Affiliate Marketing Training That Guides Me To Earn My First $1000 Online

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Zac Phua

Zac Phua

Phua is an internet business enthusiast who loves to talk about online business ideas, affiliate marketing tools, tips, and other sources of income available on the internet. He launched lifegoalfinisher.com and use it as a resource center where he can share his thoughts and experiences to benefit any newbie who wants to learn more about internet marketing.

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6 thoughts on “Untold Truths About IM Mastery Academy Pyramid Scheme Rumors”

  1. Wow is all I can say. I always avoid pyramids I stay away from them. Your article is so informative. I enjoyed reading it. I like how you started in a playful tone and as I read further you became more serious. It sounds like easy money is the beginning but as you go further you realise you need to play your part to earn it. thanks for sharing

     

  2. Your review really digs dip into how this pyramid schemes actually try to rip people off and they do not know about it. The way you started out this review is really good. I’m more happy because you have decided to let people know about platforms like this ones so they do not end up spending their time on something worthless.

    1. Thanks for your comment, Payton.

      Indeed, MLM is also not my first choice when it comes to making money from home.

      It’s not because it’s illegal or not profitable, but because of all the restrictions and the expensive costs involved.

      Instead, Affiliate Marketing is my top recommended business model for anyone to make money online.

      I already stated the benefits of it clearly in the article.

      If you’re interested in getting started with Affiliate Marketing, I suggest you give Wealthy Affiliate a try.

      To me, they’re the best learning platform for affiliate marketing.

      I hope this helps, peace.

  3. Thank you for your review about this IM academy and I must say that taking the decision to read first before plunging into this is one of the best things I have down for myself till date. Thank you o much for sharing all these out here. If I can, I will ensure that I share this out with everyone here in the US

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