In Forex trading, people don’t win every battle, although the intention is to ultimately win the war. In other words, we are not after winning every trade position in the market since it is not possible to do so. But we are concerned with making profits at the end of the day.
However, along the way, you also meet shrewd Forex investment hustlers like Chris Terry who have run a couple of websites where they sell all kinds of illegal Forex products.
Mr. Terry is the owner of iMarketsLive (imarketslive.com) where he peddles a day-trading room, Forex courses, trading signals combined with a MLM business model.
This guy was previously associated with a certain trading room which disappeared into thin oblivion after a flood of complaints started pouring in. At one time, he partnered with Linda Raschke to peddle a product known as Market Wizard.
Now, his most recent business venture involved a fraud worth $600 million. This was stopped by the SEC after it was found to be operating like a ponzi scheme.
We all know that trading is never complicated when we use the right tools. We’ve listed them here because we don’t want you to lose money to cheap dirty trading bots that open random trades.
👉 Interested In Mining Bitcoin And Other Cryptocurrencies for Profit? Now, You Can Mine Better, Faster and Smarter for More Profits With The Ready to Use, "High Performance", and Approved IQ Mining BTC Cloud Service For Miners. With This Mining Service, You Will Get Up to 128% Yearly ROI from Mining Bitcoins Alone Without Having to Buy Any Expensive Mining Hardwares and Softwares! Not Only That, You Will Get Your First Payout the Next Day After Buying a Plan With IQ Mining. You’re Also Given a Dedicated Account Manager After You Buy A Plan Who Will Help You With the Best Pool Allocations and Account Setup Plans To Get the Most Out of Your Purchase. Click the Banner Below To Register Now:
In addition to this, iMarketsLive serves as a trading room where members come together with a common purpose — which is to learn and profit from the markets.
However, iMarketsLive is also promoted as the only trading room with magical indicators on the internet.
iMarketsLive sells a tool called Harmonic scanner. Mr. Terry says that this tool is useful because it scans and identifies key harmonic patterns in the market. The aim is to identify profitable harmonic patterns — so they say.
We were contacted by a Forex broker who asked us to bring iMarketsLive into the spotlight.
This is quite unusual because, generally speaking, Forex brokers never care whether you profit or lose. They don’t care what tools you’re using to trade on their platform.
After all, their job is to ensure that you can place the largest volume of trades possible. Their other job is to find new customers, period!
Actually, this is very unusual. It seems that users of iMarketsLive have been losing money to the point of shading tears, thus threatening to flood and drown the premises of this particular broker.
Now, this is what happened in relation to iMarketsLive. This Forex broker accepted deposits from clients of iMarketsLive which amounted to several thousands of dollars.
This money was deposited via credit cards only to learn that those credit numbers were illegally obtained and charged by the so-called Chris Terry who prides himself as the number 1 Forex and Futures trading educator.
In the 90s, a book by Jack Schwager was published and released into the market. It was called the Market Wizards. This book is very popular with new traders since the content is geared towards motivating people who want to start a career in trading.
The content of this book is nothing more than stories of supposedly rich traders who made their fortunes from Forex trading.
It’s been a while since the last update of this book was released. Nevertheless, news has it that Jack Schwager was apparently hustled to believe that the ‘successful millionaire traders’ whom he mentions in his book were actually struggling traders in the beginning.
One personality that was hyped in that book is Linda Raschke. She was portrayed as an extremely successful trader with a solid track record of making money — although no proof was given.
The bottom line is, Linda Raschke became the center of attention. She took advantage of this and opened a day-trading room where hundreds of people paid boat-loads of money to participate in.
Guess what, Chris Terry was her co-pilot. Mr. Terry was a self-made millionaire who alleged that he was an expert in day trading.
At one point, we learned that he made $85 million and in another, the story changed to $185 million ….. the story keeps changing as years pass by.
Eventually, this duo separated and Linda went back to selling books, trading courses and appearing on TV etc. No one knows if she really trades for a living.
Sorry to bust a bubble here. But truth be told that despite people trusting her, many of them lost a fortune in her trading room.
Anyway, after her demise (because they separated), Mr. Terry started a multi-level marketing program which is also related to trading Forex. He used to promote a now defunct website called Zeek Rewards.
After this guy ripped off his clients in the so-called Zeek Rewards which operated like a securities scheme, he launched iMarketsLive.
We would have told you long ago that iMarketsLive is just another Zeke Rewards in disguise. The different is that this scheme employs an interesting twist.
The twist is this: you pay an upfront fee of $195 to join and a monthly subscription fee of $145 to keep getting Forex signals.
And the ‘best part’ of becoming a member of iMarketsLive is that your trading account will be ‘auto-traded’ by Cherry himself and other shit-shows who help him run the trading room.
How is it that people are delivering Forex signal services and at the same time taking part in an auto-trading room? Things aren’t so good.
As a matter of fact, the situation is growing worse by the day, making it difficult even for brokers to conduct their business with a peace of mind. That is the reason they contacted us with the request that we should expose the mastermind of iMarketslive.
However, Mr. Terry ”the trading educator and signal provider” wouldn’t want you to believe that these accusations are true.
That is why his website is big on claims that whether you sleep, party or do whatever you want, your account will always grow because it is mirroring their own accounts.
You are supposed to open an account with them so that your alleged training can begin.
The next step is to fund your Forex account (only with their recommended Forex brokers). Keep in mind that Mr. Terry receives a kick back for all your trading activities, and he’s very happy about it.
Third, you will be lured into his so-called auto-trading program where you will lose a shirt and a whole farm. A quarter of those who get involved in this auto-trading thing will randomly make money because signals are binary in nature.
The next step is to target the few who have made money with the intention of pitching them a pyramid scheme. Of course if you made money here, you’d be more than glad to tell your family and friends about iMarketsLive.
Now, Zeke Rewards used to follow this exact business model, and it collapsed.
However, iMarketsLive will continue for as long as a greater fool exists to join it.
You’ve seen that iMarketsLive is a completely ridiculous program. You might wonder if people really fall for these scams.
However, am forced to remember the words of PT Barnum. He said that a fool is born every minute.
On the other hand, clever people often find good things. The moral of this is that you should always choose products that have a track record when trading Forex.
Help Us Fight Scams. Please Donate to Support Our Work. No Amount is too Little or too Big. Thank You..
February 8, 2019 By Ghazanfar
The phrase ‘Necessity is the mother of invention’ seems true for Iran. This is because Iran has unveiled its own...
February 8, 2019 By Ghazanfar
In spite of long bear market, Bitcoin transactions per day are increasing. Today the level of these transactions has touched...
February 4, 2019 By Ghazanfar
Although bear market in crypto world is extending, yet many fiat currencies are facing the threat of destabilization. This is...
February 4, 2019 By Ghazanfar
In spite of mix signals from the cryptocurrency world about the future of cryptocurrencies, many countries are planning to test...
February 3, 2019 By Ghazanfar
The idea of Bitcoin adoption as an international currency is not at all new. Over the years, many financial experts...
February 2, 2019 By Ghazanfar
Bitcoin’s entry into the longest ever bear market in history is one of the most burning issues of today. The...
Valforex.com will not be liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Trading Forex, Binary options and Cryptocurrencies involve high-risk and are not suitable for all investors. Online trading in general, may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity. All trademarks, images and logos that appear on this site are copyrights of their respective owners and have been used under the Act of Fair Use.