Welcome to Chump Profit, your trusted source for independent assessments of forex education programs in the UK. As advocates for empowering new traders with the best resources available, we have conducted an in-depth review of IM Mastery Academy – a platform that claims to unlock the secrets of financial markets and e-commerce skills.
Forex trading, being a complex and dynamic field, demands comprehensive educational support to navigate the intricacies of the global financial markets successfully. As such, we have scrutinised IM Mastery Academy's offerings to provide an unbiased evaluation of its potential as a suitable learning platform for aspiring forex traders in the UK.
In this review, we will delve into the core features, benefits, and potential drawbacks of IM Academy's academies – DCX, FRX, TBX, SFX, ECX, MMX, and SMX – designed to equip individuals with essential skills in understanding financial markets and e-commerce.
About IM Mastery Academy:
IM Mastery Academy, also known as IM Academy, is an online educational platform that offers training and resources related to financial markets, trading, and e-commerce. It provides digital educational products and services, including interactive content, live sessions, and pre-recorded modules, to help individuals learn about various aspects of the financial industry.
IM Academy offers multiple academies, each focusing on specific topics like Forex (FRX), Cryptocurrency (DCX), Trading Strategies (SFX), and more. These academies are designed to provide individuals with the knowledge and skills needed to navigate the world of investments and trading successfully.
It is important to note that while IM Academy offers educational content and resources, it does not provide access to online platforms for actual trading or investment in financial products. Furthermore, it does not offer personalised investment advice or regulated financial services.
About the IM Mastery Academy Owner, Chris Terry:
Chris Terry, also known as Christopher Terry, is the Founder and CEO of IM Mastery Academy, previously known as ImarketLive. He is a well-known and successful trader who has been making a significant income with his business. Terry has over two decades of experience in trading FOREX, Futures, and Equity markets, making him a reputable figure in the financial industry.
With his extensive background, Terry founded IM Mastery Academy with the mission to educate and empower aspiring traders in the art of trading FOREX, Futures, and Equity markets to make money online through trading. His success and expertise have earned him a net worth estimated at $2.61 million as of April 2020. Additionally, he is known as a speaker and has been featured in various books and magazines.
IM Mastery Academy Review – Company’s Products and Services:
1. FOREX and Cryptocurrency Education – IMARKETSLIVE ACADEMY:
IMARKETSLIVE Academy is the training portal of the iMarketsLive platform. It offers video courses about FOREX (The Foreign Exchange market) and cryptocurrency trading. Chris Terry claims that regardless of your trading level, be it a beginner, intermediate, or advanced trader, he and his team can equip you with the skills and knowledge to build real wealth, no matter where you live in the world.
However, prospective users are warned about the high-risk nature of forex trading, as fast-changing market conditions, high volatility, and leverage can result in financial losses.
2. IMARKETSLIVE TV:
IMARKETSLIVE TV provides live training sessions where subscribers can observe professional traders, including Chris Terry, analysing the market and executing trades in real-time. These sessions also offer mindset and mentorship education to help traders develop a winning mindset and achieve financial freedom.
3. IML Harmonics Scanner: Financial Data and Pattern Recognition Software:
This software scans the market to provide users with financial data and pattern recognition to increase the chances of success in trading operations. The Harmonics Scanner is available to all members, offering valuable insights for their trading decisions.
4. IML Web Analyse:
Similar to the Harmonics Scanner, the IML Web Analyse is a web analyser (Mobile App) that scans markets to provide FOREX and Cryptocurrencies market data, aiding traders in making informed decisions. However, this tool is only available to Elite members, requiring an additional fee for Platinum members to access it.
5. Trade Ideas:
IM Mastery Academy offers a service called Trade Ideas, which provides additional education and trading ideas directly to users' mobile phones via their mobile app. These ideas aim to offer traders additional confirmation in their trading timeframe.
Despite the wide range of products and services, some critics question the transparency and accessibility of the educational content at the first level of IM Mastery Academy & IML TV.
IMARKETSLIVE Membership Plan:
IMARKETSLIVE offers two membership plans and an affiliate program called Independent Business Owner (IBO). To participate in the affiliate program and earn commissions, members need to pay a monthly fee of $16.71.
The membership plans are as follows:
1. Elite Academy: $324.94 upfront fee, then $274.95 per month.
2. FRX Academy, HFX Academy, and DCX Academy: $234.95 upfront fee, then $174.95 per month.
3. IBO Academy: $16.71 upfront fee, then $16.71 per month.
Each membership package grants access to features based on the chosen plan, including educational content, the Harmonic Scanner, and trade ideas.
IMarketsLive Compensation Plan:
IMARKETSLIVE operates under a multi-level marketing (MLM) structure, where participants earn commissions by recruiting new members. The compensation plan consists of three levels, with residual income starting after the third level and going up to eight deep levels (a 3x8 matrix).
Participants earn commissions as follows:
- 30% commission on direct referrals' subscriptions
- 10% commission on level 2
- 5% commission on levels 3 to 4
To earn residual income and associated bonuses, members need to maintain a minimum Platinum 150 rank, requiring three active members registered as platinum members.
The rank levels range from Platinum 150 to Chairman 500, with higher ranks offering greater bonuses and residual earnings.
Critics of IMarketsLive have raised several complaints against the platform. One significant concern is that the company is not accredited by the Better Business Bureau (BBB), with a substantial number of complaints reported on the BBB website. The company's reputation has suffered, with some questioning its long-term sustainability.
IMARKETSLIVE claims to offer refunds for dissatisfied members, but the effectiveness of this policy remains unclear. It is essential for potential users to exercise caution and thoroughly research before making any financial commitments.
A Critical Analysis: Unveiling the Truth about IM Mastery Academy:
While IM Mastery Academy presents itself as a leading educational platform, it is essential to critically analyse its key aspects before enrolling:
1. Lack of Regulated Financial Services: IM Academy's lack of access to online trading platforms and personalised investment advice may raise concerns for individuals seeking comprehensive financial guidance.
2. Emphasis on Recruitment: Some critics argue that IM Academy's business model places significant focus on recruiting new members, potentially detracting from the quality of educational content.
3. Potential for Misleading Claims: The company's marketing materials and promotional content have faced criticism for making bold claims about financial success without providing sufficient evidence or disclaimers.
4. Cost of Academies: The prices of IM Mastery Academy's academies may limit access to those who
genuinely need financial education but have budget constraints.
5. Non-Accredited Curriculum: IM Academy's lack of formal accreditation raises questions about the credibility and recognition of the educational content provided.
6. MLM Structure: IM Mastery Academy's MLM structure may raise concerns due to the potential focus on recruitment over the quality of education.
7. Limited Learning Pathways: While IM Academy offers various academies, some critics argue that the educational paths may not be as comprehensive or tailored to specific financial goals as advertised.
Pros of IM Mastery Academy:
1. Diverse Educational Content: IM Mastery Academy offers a range of academies covering various aspects of financial markets and e-commerce, providing traders with a comprehensive learning experience.
2. Experienced Founder: The platform's founder, Chris Terry, is a successful trader with over 20 years of experience in the financial industry, which lends credibility to the educational resources provided.
3. Live Training Sessions: IMARKETSLIVE TV offers live sessions with professional traders, allowing subscribers to observe market analysis and gain valuable insights into trading strategies.
4. Tools and Software: The platform provides access to tools like the Harmonics Scanner and IML Web Analyse, which can aid traders in making well-informed decisions.
Cons of IM Mastery Academy:
1. Lack of Regulated Financial Services: The absence of regulated financial services and personalized investment advice may leave some users seeking more comprehensive guidance in their trading journey.
2. Emphasis on Recruitment: Critics argue that the MLM structure and focus on recruitment may detract from the primary goal of providing quality education to traders.
3. Potential for Misleading Claims: Some marketing materials have faced criticism for making unrealistic claims about financial success, potentially setting false expectations for new traders.
4. Costly Membership Plans: IM Mastery Academy's membership plans come with a price tag that may be prohibitive for individuals with limited financial resources, limiting access to those who can afford it.
5. Non-Accredited Curriculum: The lack of formal accreditation for IM Academy's educational content raises questions about its recognition and credibility in the broader financial education landscape.
IM Mastery Academy offers a diverse range of educational content, guided by an experienced founder, making it an attractive option for those seeking knowledge in financial markets and e-commerce. However, potential users should be cautious of the lack of regulated financial services, potential for misleading claims, emphasis on recruitment, costly membership plans, and the non-accredited curriculum. Before making any decisions, thorough research and consideration of alternatives are advised to ensure alignment with individual educational goals and ethical considerations. Trading involves risks, and success requires dedication, practice, and sound market knowledge, making it essential to approach any forex education platform with caution and scepticism.
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Disclaimer: Trading and investing involves significant level of risk and is not suitable and/or appropriate for all clients. Please make sure you carefully consider your investment objectives, level of experience and risk appetite before buying or selling. Buying or selling entails financial risks and could result in a partial or complete loss of your funds, therefore, you should not invest funds you cannot afford to lose. You should be aware of and fully understand all the risks associated with trading and investing, and seek advice from an independent financial advisor if you have any doubts.