Let me tell you about this cool story from way back when.
This was way back before I’d started making proper money with Local Lead Generation. This was before I’d even left High School. I’ll tell you more about how cool Local Lead Generation is later on. But I guess I was working with local leads in a slightly different way back then.
I was camping out by the lake one summer, it was pretty dope. Loads of cool places to explore and have fun.
Those were some cool summers.
Once, me and my buddies were digging and we found this old tin. It was like lost treasure!
We just thought it was gonna have some old crap in it, but when we opened it—it was actually a neat find.
Baseball cards. Nice
These were from the 50s, too. I knew already that they might have been valuable. They needed a little clean, but they were still in good condition. I guess the tin was well buried and air-tight.
I already knew a few people I could sell these cards to.
Anyway, the problem was—this wasn’t our land. One of my older pals said we should get permission from the landowner. It was his land after all.
Now I’m a stand-up guy. So I was cool with that. I wasn’t about to steal these cards if someone else owned them. I knew the guy who owned the land and he was a chill older guy too. Used to give us sweets sometimes.
I didn’t think he’d have much use for some baseball cards.
I was wrong.
But don’t worry, it’s not all bad.
You see, the baseball cards WERE his. But when I told him about them, instead of simply thanking me and asking for them back… He had another idea.
Not only did he have an idea. He had MORE. More baseball cards. From the 50s, 60s and beyond. Rare stuff. You name it.
And these hadn’t been buried either. They were in mint condition.
So we struck an agreement. I’d try and sell his cards, bit by bit, and I’d get a nice 30% cut. I was happy with that. He had tons.
I’d been saving for a new bike at the time so it was a cool deal. Over the rest of the summer my mind was focussed on shifting these baseball cards. I sold them to the shops around town, some older collectors, and even some people over at the local baseball clubhouse. I was soon raking in my sweet cut of 30%.
By the end of summer, I’d paid for more than my bike. Way more.
But where am I going with this? Why am I telling you it? I’m telling you this story because it was my first taste of affiliate marketing. I just didn’t know it yet.
So I guess you can say my entrepreneurial efforts started early. But over the next couple of decades, I tried my hand at a lot more.
When the internet first got big, I even made some nice affiliate cash. But I still hadn’t got to where I really wanted to be. In a Lambo, of course! What else? Every online marketing guy needs a Lamborghini.
Anyway, I devoured a lot of different internet marketing courses and products over the next few years. I learned the basics, and then some. I found out what autoresponders were, why emailing lists were important, and all that stuff.
Eventually, I started building up some nice savings. No, still not Lambo money. But I wanted to see this money grow, so I needed some cool investments.
I’d heard a fair bit about something called iMarketslive at the time. This seemed like the perfect product because it was gonna teach me how to trade Forex and other stocks online instantly—but also because I’d get to promote the product as part of my affiliate marketing efforts.
That’s when my heart sank a bit.
This sounded a lot like a pyramid scheme. But I was assured that wasn’t the case. So if you found this page by banging in “iMarketsLive reviews” or “iMarketsLive scam”, then here you are. I’ve gotta give you one of the best iMarketsLive reviews going. Here it is:
First thing’s first. You wanna know what iMarketsLive is. I got you.
It’s an online Forex trading platform. Now I didn’t know the first thing about Forex trading at this point. I’d seen how volatile the USD could be on a day to day basis, and I knew there was money to be made. I just wanted to know how.
The second part of iMarketsLive was the network marketing part. They call this MultiLevel Marketing, or MLM. Instead of just trying to promote the iMarketsLive training course, I’d be trying to recruit more sales reps, move up levels and gain more commission.
That’s a lot like a pyramid scheme.
My main issue with these sorts of deals is when desperate people are forced to sell worthless products. When the ONLY way for anyone to make money is simply building more levels to the pyramid and getting more sales reps to sign up-that’s not good.
I didn’t have a problem with using networks to promote products if the product is actually good. That means people at the bottom of the pyramid still get value—the training course.
Although I did question why you’d need multiple levels of sales reps to make real money. Why couldn’t I just find people that wanted the base product (the training course) and make money selling it? That’s what I did with my other affiliate marketing ventures. That’s what I did with my baseball cards.
So I was already a bit suspicious. But firstly, I needed to know if the product was any good. That was what I was there for, anyway. The Forex training. Then if it went well, maybe I’d be happy to be part of the pyramid-shaped thingy to help spread the word a bit.
So what’s the iMarketLive Forex training actually like? Let’s have a look…
To start with, there’s a ton of info in there. It was hard to work out where to start.
I didn’t know much about these currencies!
I was a bit sceptical as to why they were giving this stuff away.
I mean if they’d really cracked how to make money in Forex, why don’t they just keep the info to themselves and invest their own money?
Surely if it was that easy, they could just become Forex investors. That’s the problem with a lot of these sales pitches. Not just Forex training academies, either. All sorts of IM offers fall over because if they really did what they say they do—then the people selling them wouldn’t NEED to sell them. It might even be better if they didn’t. So as you can tell, suspicions were high.
And I’ve already answered my own question. The reason they need to sell this stuff is because it simply ISN’T that easy to make a ton of money on Forex trading. I soon learned that.
There was some cool stuff in the training course. I learned all the basics and then some. Great. The thing is, this info is available elsewhere, sometimes for free. Or at least at a fraction of the cost.
The good news is that I learned how to read graphs, and a lot of other stuff that was crucial to Forex trading. Not just basic graphs, CANDLESTICK graphs. Nice. These made a lot more sense much quicker than I thought they would.
And there are loads of other alert tools and some other good stuff in the iMarketsLive software. You also get access to the trading room which lets you learn from some much more experienced traders. You could see the sort of moves they were making as well as the ones to avoid.
The thing with Forex trading is you don’t have to hold thousands in stock or currency. You can simply “bet” per point it goes up or down. This is called spot betting. What it means is that you can become mega-rich without risking tons of money. But you can also lose a lot, too.
So how did I do? It was a mixed bag.
I started making some losses over the first few days. But after I learned from a few of my mistakes, I’d finally recovered and was even making a nice profit. Woo!
Forex is as volatile as it gets.
I thought I’d cracked it. I was already dreaming of Maui or my new Lambo. I hadn’t cracked it. It was beginner’s luck.
I took the wrong position on my next trade and was wiped out pretty quick. And then some. Bummer.
I spent about a month on iMarketsLive and trying to become a Forex trader. There was too much up and down for my heart to handle. That stuff was stressful.
Of course, your mileage may vary. Some people do make money from this stuff. I didn’t, but that’s just how it is.
My overall evaluation of the course is that’s it was good. It wasn’t groundbreaking, and I’m not sure how many people are actually making money. I’m also not sure if it was really worth the fee. But it wasn’t terrible.
There are actually a load of different tools aside from simply using the trading course. Some of them you’ve gotta pay a bit more for, so I didn’t get to try them.
There’s an FX Signal package which basically does it all for you. They say you get the instant trades that pros are making and you simply set the system up to automatically follow them. Again, I’m not sure if this is really legit. But I can’t knock it down because I didn’t try it. I do have that same nagging question about why someone would give this info away if it was guaranteed to work? And wouldn’t it affect the market in some way? I’m no Forex expert, so I don’t really know the answers to these questions.
Answers on a postcard, please!
So the next step was seeing whether I could make money promoting the trading course. That’s where things get a bit pyramid-shape.
The real money wasn’t to be made from the actual info you get in the course.
It wasn’t even really to be made from selling the course to individual users.
It was from getting more salespeople to sign up under you, and taking a cut of all their commissions.
That’s kinda how MLM works, which is cool if the product at the bottom is good. But I’m always a bit suspicious of these MLM schemes because if the product was THAT good, you’d have loads of normal customer-facing affiliate marketing guys lining up to promote the product directly to users. That’s not really how this works, which is a bummer.
Also, there’s one MASSIVE catch here as well.
You can only really open up the multi-level earning potential if you buy their $195 customer product. Yep, read that again if you want. Let it sink in.
Now where I come from in the affiliate marketing world, you don’t even have to buy the products you promote at all. Let alone pay nearly two-hundred bucks just to start selling at the higher levels.
THAT’S just how pyramid schemes work. At least there’s a reasonably good product at the bottom, but it’s still not a great deal. You shouldn’t have to pay to promote, and the main way it seems like people are making money off of this is by selling more of these promoter packages. Very pyramidy.
There’s a complex matrix of membership tiers that I won’t bore you with here. But basically—As you move up a level, you’ll get higher commission bonuses. But it’ll cost you to get there.
So you think it’s an iMarketsLive scam, right?
I did too.
What do I think now?
I’m not sure.
It’s not a definite scam. I think that’s clear. They’re not running off with your money.
The other good thing is that there is a product at the bottom of the pyramid. That’s something that has value and COULD help people. It’s not the best product around, but it’s ok. I learned something from it. You could too.
However, I didn’t learn much that did me any good. Forex trading wasn’t for me. I question how much people are making money from this stuff, too. I wanted an investment to put some of the money I’d been making from internet marketing in. This wasn’t it.
I also wasn’t really that happy promoting the product to other people. After all, it was something they could lose money on. A lot of it.
The only way people were really making money was with the MLM network. There are people doing well there, but that wasn’t for me either. I prefer not to pay to promote products. There’s also a pretty small market of people who’d be willing to buy a product at this price, especially when similar stuff is available for free elsewhere. Oh yeah, the trading platform costs $145 a month if I forgot to mention.
Nowadays, I prefer pointing people in the direction of Local Lead Generation if they’re looking for a way to make real money online. It’s not a pyramid scheme and is a genuine way to make real money. It’s how I made most of mine. Check it out.