FX Signals Live/iMarkets Live
Chris Terry of FX Signals Live and iMarkets Live is a long time financial hustler. Currently is peddling a day trading room, combined with multi-level marketing.
Prior ventures include a now defunct live trading room and partnership with so-called Market Wizard, Linda Raschke.
The most recent venture was a $600 million dollar fraud that the SEC halted, and described as an “online pyramid and Ponzi scheme.”
An absolute shit-show of a human being. Avoid.
Thanks for reading today’s review of iMarkets Live and FX Signals Live
It’s not too often that a Forex broker contacts me, asking that I write a review about a Forex trading program. Remarkably, this is exactly what has happened.
Generally speaking, Forex brokers could care less if a trading product is a scam. They are only concerned with trading volumes and opening new customer accounts.
You will never find a Forex broker shedding a tear over the losses of a customer. Unless those tears pool into a swamp, in which the Forex broker might actually drown.
Apparently, this is exactly what has happened. A Forex broker accepted hundreds of thousands of dollars in client deposits…via credit cards. Only to later discover that the credit card numbers were illegally obtained, and illegally charged by this so-called Forex and Futures trading educator named Chris Terry.
Who is Chris Terry?
Back in the 1990’s, a popular book was published titled, Market Wizards. It’s a famous book, written by Jack Schwager. Pretty much required reading material for all aspiring traders.
Essentially, the book is a collection of stories about supposedly famous traders. And how they made their fortunes trading the markets. It’s been quite some time since the book was published, but it was later discovered that Jack Schwager was hustled into believing that several of his “millionaire traders” were not actually very successful at trading.
In spite of this, the book is an excellent read. In particular, there is a chapter about a lady trader named Linda Raschke. Yes, Linda is a real trader. And a very good trader at that.
Long story short…after the book was published, Linda Raschke became the darling of the day trading educational scene. She eventually opened a day trading room, where hundreds of people paid a boatload of money to learn her supposed trading secrets.
Her business partner and trading room moderator was a guy named, Chris Terry. Another supposedly super-trader that made millions of dollars day trading.
Supposedly, $85 million or $185 million…the story has changed over the years.
Eventually, the trading room went bust. Chris Terry and Linda Raschke went separate ways.
Linda went back to doing what she does best…trading.
A lot of my readers adore and admire Linda Rachke. Sorry to burst your bubble, my friends. But her live trading room was a financial disaster, and a lot of people were burned. Screen shot below confirms her partnership with Chris Terry.
Anyway, after the demise of Linda Raschke’s live day trading room. She went back to full-time trading, successfully managing a hedge fund, and being a good citizen. What about Chris Terry? He went into MLM or Multi Level Marketing.
But not just any Multi Level Marketing, he helped promote a company named Zeek Rewards (now defunct).
What in the heck is Zeek Rewards?
The company was organized as a multi-level marketing/pyramid type investment scheme. Essentially, a person would purchase shares of ‘stock’, along with a ‘business opportunity package’ that would attempt to sell the stock to next person down the pyramid.
The scheme was wildly successful. In total, the company sold $600 million dollars of ‘shares’.
Pyramid investment schemes are remarkably easy to sell and market. It relies upon the trust and friendship of a close acquaintance. They are essentially social viruses that prey upon our herd mentality.
All pyramid investment schemes eventually collapse. One of two things will eventually happen, either you run out of fools, or the authorities shut it down. In this case, the SEC shut this one down. You can read about the entire scheme here: SEC Shuts Down $600 Million Online Pyramid and Ponzi Scheme.
This scheme was shut down in August 2012. So what does Chris Terry do next? Just start another investment fraud.
iMarkets Live and FX Signals Live is launched
After Chris Terry ripped off customers in his fraudulent securities scheme named Zeek Rewards. Within a few months, he launched a brand new investment scheme named iMarkets Live and FX Signals Live.
What is iMarkets Live and FX Signals Live? Its just another Zeke Rewards! But with an interesting new twist. Essentially, it is a live trading room that delivers trading signals for Forex and Futures markets. You simply pay an upfront fee of $195, and $145 per month to be part of the live day trading room.
And the best part of this live day trading room is that the trades are ‘auto-traded’ by Chris Terry and his trading morons that manage the trading room.
How are people doing trading room and auto-trading signal service? Not so good. In fact, the situation has become so egregious that Forex brokers are contacting TradingSchools.Org, asking that we write something about this con artist.
Of course, Chris Terry would have you believe otherwise. In fact, his website heartily proclaims:
Whether you’re sleeping, partying, working, or all three, your trading account will automatically mirror the trades our experts make.
What if a master trader who’s made millions in the markets sat down with you and made live trades right in front of your eyes…would you sign up for that?
How the iMarkets Live and FX Signals Live fraud is executed
Step one. A fool signs up for the ‘live trading room’ and his supposed trading education begins.
Step two. The fool is recommended to open a trading account with a Forex and CFD (Contracts For Difference) broker in which Chris Terry receives a kick back on all trading volume.
Step three. The fool is lured into the auto trading program. Approximately half of the fools will randomly make money because the trading signals are binary.
Step four. The fool that is lucky enough to make money is pitched the pyramid scheme. The fool contacts his family and friends and tells them about these amazing trading signals.
Step five. The process begins anew. With a new fool.
This is the exact same business model of Zeke Rewards. As long as a greater fool exists…the scheme continues.
Wrapping things up
Truth be told, I didn’t even want to write this review. It’s a completely stupid and ridiculous scheme. At some point, you have to wonder–who would be foolish enough to fall for this stuff? But then I think about my own past history of running scams and hustles...and the words of PT Barnum come flooding back, “There is a sucker born every minute.”
Thanks for reading. Would love to know your opinion.