Chris Terry: FX Signals Live and iMarkets Live

FX Signals Live/iMarkets Live
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Summary

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.

Pros: Expert carnival barker.
Cons: Live day trading room combined with multi-level marketing. Because everyone needs a trading room with a magical trading indicator, and magical soap.

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.

One such person is Linda Raschke. She was portrayed as a super-star day trader that made a fortune. Unfortunately, this information was never actually verified by Jack Schwager.

market wizards

Wizards and Con Artists?

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…selling books, courses, and landing interviews on financial media. Truth be told…nobody really knows if Linda Rashke even trades. She has been living off the vapors of being a ‘Market Wizard’ for nearly her entire adult life.

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.

imarketslive Chris Terry

Anyway, after the demise of Linda Rachke’s live day trading room. She went back to hustling books and courses, and Chris Terry 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.”

FX Signals Live

FX Signals Live: Chris Terry pitching his BS to a room full of suckers. Sad.

Thanks for reading. Would love to know your opinion.

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135 Comments on "Chris Terry: FX Signals Live and iMarkets Live"

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Leon
Guest
Emmett, when I saw that you were finally going to a review of this course, I was really happy. I have had a co-worker, that I has been with iml for about 8months. He is more focused on the mlm side instead of the trading side. I wanted a review of the products that they are using by someone, like you, that goes in and get the real story. I was hoping that you would have done a review from the standpoint of using the tools yourself, to see if they really work. I appreciate the history lesson on Chris… Read more »
Jenny Wok
Guest

IML is scamming people worldwide ,Emmett I hope your review reaches far and wide .Chris terry is a cornball charlatan.

Farooq Martinez
Guest
Farooq Martinez

Why wasn’t my comment approved? Was it the repeated references to the other fufu MLM clown, previously featured on Trading Schools? I have been following this MLM-niche for the past year and made some observations that I thought were relevant.

There is some serious fufu-ness going on in this niche. People want answers, I was hoping my comment would spur some additional debate and research among the trading community.

There were things that I think that were overlooked and not included.

I would like to resubmit.

Let me know,
Farooq

Farooq Martinez
Guest
Farooq Martinez

I see my comment was approved, I apologize first and thank you.

Farooq Martinez
Guest
Farooq Martinez
Emmett – Could you seek clarification/further verification from the broker? Was it directly linked to Chris Terry or was it indirectly linked to Chris Terry. There are several of so-called “groups” that recruit for companies like IML and Kaizen/Kaizen Global (ran by Reza Mokhtarian). These groups make money by broker sign-ups and deals. I know of one who specifically tells people to fund a forex account using a credit card. This particular broker accepts the credit card and uses a front company for this purpose. It would be interesting why this broker is not strictly following any KYC or AML… Read more »
Tom
Guest
Linda Raschke I know for a fact is as dumb as a box of hammers. She was a regular on Top Step when my son had to listen to that garbage for his funded account. She is in the same camp as Woodie, Brooks, and Dalton. They been around long enough to have thousands of old farts who remember them and think they know what their doing because the been around and have grey hair…. This clown is nothing but a blow hard , who never has anything concrete to deliver and although I never personally been in his room,… Read more »
John Santos
Guest
John Santos

Emmett, I am impressed of your scalping numbers back in 2008. That is, you had more skills than just scamming OPM. I would be very grateful if you reviewed Jigsaw. It really is puzzling without an unbiased review.

Mike M
Guest
I remember reading about LBR many years ago in the Market Wizards book. I am confused, was she ever profitable? I guess a trader does well then they sell out to hock their wares to the retail public. I ascertain that most of these popular traders that now are on book signing tour just don’t trade anymore because it is much easier to just sell to retail. I have to reread her history because I always wondered about her after she became a regular on the retail vending circuit. Can someone clear this up for me? was she the real… Read more »
Rob B
Guest
Many of these great are complete fakes, but some made a lot of money on one lucky trade and just lost everything after that. But they ride that one lucky trade like there is no tomorrow and never mentioned that ever since they have done nothing but lose money. Like one person with a lucky copper trade. Some will know who I am talking about. Just think of the folks that made a fortune during the NASDAQ bubble but then lost it all. They make a fortune during the bubble write and book even thought the then lost it all.… Read more »
dtchum
Guest

OK, where is your proof to back up your poorly written post? You say “some made a lot of money on one lucky trade and just lost everything after that” – put some names out there. Oh, you don’t have proof? Kind of like trading rooms that can’t show real track records, right? You spout nonsense, so let’s see you back it up with facts. My guess is you cannot, becuz you just say shi*%^ to sound knowledgeable.

Proof proof proof – isn’t that what you always require? Why don’t you follow your own advice?

Rob B
Guest
Dtchum, You post is so stupid how can anyone take your seriously. You are the embodiment of a Troll!! In fact I can only draw 3 conclusions. 1) You are a child of 10 years old, 2) You lived in an Afghan cave all your life and never read a financial article in your life or 3) you are being willfully stupid and for god’s sake I hope it is number 3. Let’s say you are illiterate and never read a financial article in your entire life, even a complete imbecile would realize what I wrote was true. Did you… Read more »
Mr. Willfully Stupid.jpg
dtchurn
Guest

drchump == jamesII == RobB III == smellypete == drchumpNO == Pete ==> and on and on. I am just going to leave it at that for the new readership to be aware of this guy flaps both sides of any issue just like the shills and shams and also uses alters showing the scammer-like disgusting lack of integrity, lack of respect for commenters who contribute the best to the ts comments,all in order to snipe out of spite and to try to rewrite the comment history. Good use of the Cyn baboon pic Rob.

Rob B
Guest

DTChump IMO and his many alias are clearly associated with a vendor and will post anything to harass anyone that calls out these con artist TR, because they effect the number of suckers he is able to con. I cannot remember him ever making any informative post.

In fact his lost post was so stupid he is not only a shill but not a very intelligent shill.

dtchurn
Guest
I should mention again I agree completely that drchump flailing idiotically at you and other commenters who call out these scams, in effect hurts the readership’s waking up from the kool-aid and number of new dupes conned who are willing to give the shills “another chance” just because they believe the undermining spouted nonsense. To me, it just goes to show the depth of which gollumpiet is willing to sputter for the shills as drchump, both sides of his mouth , and the alters mainly out of childish trollspit-e, which long invalidates any credibility or trustworthiness in his posting. Take… Read more »
dtchurn
Guest
I agree RobB that drchump and drchumpno may have been vendor shills and perhaps still post once in a while, but gollum has all too often taken over their id’s to snipe with and the original vendor shills don’t care since the spotlight of tradingschools has long since passed from the reviews those shilled aliases were made. drchump posts now to be contrary to my assertion drchump=gollumpete in one of my posts yesterday. And the other new alter, smellypete posts again to attempt to marginalize the untrustworthy implication of using alter ids obviously including “pete” in the new alter name… Read more »
dtchum
Guest

Churn – Your posts would make so much more sense if you actually wrote in proper English. I thought English was your first language – guess not.

The funny thing you and I have actually had dealings outside this site. Ring a bell?

dtchurn
Guest

Wow, having lost all the arguments and now jumping to insane unrelated imaginary delusions gollumepiet. You’re just showing yourself as an idiot dipstick who doesn’t know proper English from your own imaginary trolling blabber. RobB was right “Mr.Willfully Stupid” imbecilic baboon. Stop pretending to be someone other than your own gollummy self.

Mike M
Guest
I missed this one by Rob B about David Tepper. He is certainly the real deal with billions under management. Think about a successful hedge fund manager such as David Tepper, would he be talking about scalp trades to retail on a forum. That optic doesn’t sit well when you really let it sink in. You don’t need to go that far. A trader that earns millions trading the market would not go on a lecture circuit to sell services. The time spent pitching material would cost a successful trader a ton of money. It just doesn’t add up. I’m… Read more »
dtchurn
Guest
Exactly, an example that comes to my mind is Wasendorf of PFGBest in the episode of American Greed where he early correctly called out folks to stay out of the market before the 2008 collapse, and ripped off the guy who made “BestDirect” one of the pioneering earliest futures trading software for retailers. He rode that fame and early rep, until the truth was completely opposite where all his investments since, mostly failed, and his brokerage, the new mega office and his property was turned into a massive ponzi and literal cut and paste with shredders shown in his fed… Read more »
Cyn
Guest

Which just goes to show you how bad it is to average down. Even those with big pockets full of other people’s money eventually blow up from averaging down.

Which is what makes it so sad that so many TR are actually teaching that crap.

dtchurn
Guest
Despite the recent charade of smellypete here, I am still enjoying how we exposed James/JamesII and DrChump in the previous recent reviews, again as all alters of gollum petedetithb__ks. What is this like the 3rd or 4th time he’s used alters in disguise since the pagetrader “blowup” tantrum? some “better man”, LOL. he must have been sick saying that when he knows he’s anything but and his exposed over and over again for being fake with alter id’s. That was sweet how he stumbled all over himselfas JamesII. . Yeah I know he read every word in my posts on… Read more »
Pete
Guest

I’ve already told you dtchum and toto aren’t me. I told you that you reek of Brooks disease warmly as a fellow victim, you chose to be a Brooks shill as the comments show. I too have been suffering from the Brooks disease for years. Thanks for proving the dogwhistle hate I previously accused you and one other of, there’s nothing disgusting about manning up to what Brooks has done to our hindquarters.

dtchurn
Guest
All you’ve proven is your own hate in sneaking in more attacks via your alters liar. You are just a more well faked mannered baboon as Cyn so artfully put it back then, with your latest alter, LOL. Everyone’s whose read your past vitriol that started your crap and losing out to all the arguments in the past knows you have resorted to using multiple alter ideas so you can speak from any side losing complete credibility. Glad you’ve finally come out and reminded everyone how low you are willing to go “smellypete” raging gesticulating from the cave with NOSHOW… Read more »
Mike M
Guest

Pete, Brooks is a parasite and should be ashamed of himself especially after taking the hippocratic oath as a doctor. Personally, I believe this blog could use some vitriol towards the scammers that deserve it. IMHO most of the regular posters aren’t shills especially for Brooks. Anyway, I enjoy reading about your distaste for the man, just as long as you are using that in a constructive manner. No one should be attacked personally on this blog, but if one disagrees then by all means let everyone know.

dtchurn
Guest
Yes, we have done vitriol to other review scams when it was called for MikeM and I agree others who had been scammed should join also. Just that all too often my posts were attacked by gollum’s alters because I believe he no longer really cares about b__ks just the spite he has for me from the past as a psycho job. In fact, I was the last of the “wolfpack” to realize his trolling. As anyone can see the others were calling his bs long before me and he tried to stick it to me just because he gained… Read more »
dtchurn
Guest
He had a long history of attacking me personally MikeM. Al l I did was respond while he escalated it with more crude insults as I’ve demonstrated with the links. Let not tradingschools history forget. If Pete wants to truly reform then he needs to stop guttysniping in reaction to my posts. No you didn’t “warmly”. it’s you who have been infected with b__Ks disease all this time. Anyone can see back then you picked a fight with me liar in the most disgusting insults from the beginning. And cowardly not mentioning it was Cyn who was the “other”, LOL,… Read more »
Mike M
Guest

dtchurn I hear you and hope to hear more about your experiences. I truly enjoy the discussions on strategy along with con men being taken down.

Carsten
Guest

“Raschke’s hedge fund has been ranked 17th out of 4,500 for best 5 year performance by BarclaysHedge.” – Wikipedia
She´s not doing massive marketing for her seminars, to find some dreaming kids and take their money for scam. And as i know, she wrote only one book and that is over 25 years ago. Please do not start throwing all traders and services of the trading scene into the same bucket.

Rob B
Guest
Familiar with Linda but know nothing about her hedge fund. Maybe she wrote that entry. I tried searching BarclaysHedge.com by her name and by LBRGroup as shown below and nothing came up. Here is the top 100 in 2017 and no Linda there or maybe I missed it. http://www.institutionalinvestorsalpha.com/profile/3287866/4689/hedge-fund-100-firm-profiles.htm I also checked Barrons and did not see it. Can you point out which one is her fund or provide a link by a reputable place that ranks hedge funds where her fund is coming up in the top 20. Again she may well be number 17 I just cannot find… Read more »
linda 2.jpg
linda 1.jpg
linda.jpg
Traderme
Guest

Wikipedia took the sentence from her webpage.

About

“Since then, she has been the principle trader for several funds and started her own hedge fund in 2002 for which she was the CPO (Commodity Pool Operator). Linda’s hedge fund was ranked 17th out of 4500 for best 5 year performance by BarclaysHedge and her early successes were recognized by Jack Schwager in his renowned Market Wizards series. Linda retired as a CPO and CTA in 2015.”

So her fund should be in the database until 2015.

dtchurn
Guest
I’d heard about the fund failing over a year ago. There’s probably more to it when the shtf among the pebble beached rich floridians investors. No duh, when smellypetedetithb__ks looked up the fund because he had nothing else to post about, it showed it failing in 2014 and going , gone in 2015. My post linking to her active shilling in the ecuadorian beachforum among others’ anecdotes instead of just looking up knowing nothing about lbr previously, is far more relevant to the retail industry since it was after having ditched the fund, lbr group tried to make headway into… Read more »
Mike M
Guest
I can’t find any information related to her fund with a reputable source. As far as making money, she started in the pit, correct me if I’m wrong, many years ago when you had a repeatable edge where a lot of people made money and lots of it. I think she most likely made money for a while to get portrayed in Market Wizards. I just seem to struggle with an all start trader with talents to consistently take money out of the market then decide to work with retail. A successful trader or money manager is usually so busy… Read more »
dtchurn
Guest
Thanks for the info MikeM. I’d agree from what you’ve relayed about busy funds you’ve seen why would they even bother to teach or rum a sim show room. I would assume they are working hard to keep their fund operational and for earning their management fees studying the market, researching companies and stocks all the time etc. I never worked in wall st. on in financials, just basing what i’ve seen in documentarys like “wall st. warriors” , and anecdotes from former claimed pit traders on the beachforum and elite as forum members not retail vendors. In contrast Levin… Read more »
dtchurn
Guest

Before others think otherwise, I was actually in attendance at the lbr hubby’s sham webinar out of curiosity on the beachforum where it was rumored on the web the fund had closed, all before I discovered tradingschools, unlike gollum cowardly hiding in his hole during the b__ks event on beachforum last year during the b__ks review. LOL.

Rob B
Guest

I looked at both Barclayshedge and Barrons and did not see her fund. Maybe it was under another name. If you have a link from a reputable rating source I would be curious. I assume she must have made money (but maybe not) some point in time to have gotten so well known and in the Market Wizard book. If she never made a dime then I have to recant a statement I said and that was Ross was the greatest promoter, because if she never made any money she get the crown.

smileypete
Guest

I also found a PDF on a site for another fund where it shows her fund in the top 10 CTAs in 2007:

http://www.migfx.co.uk/Barclay%27s%20Rankings%20Nov%202007.pdf

There’s some good discussion of her trading room on the Elite Trader forum and it gives and idea of how it evolved over time:

https://www.elitetrader.com/et/threads/linda-b.70422/
https://www.elitetrader.com/et/threads/linda-raschke.211735/

Maybe trading the fund and the trading room was too much over time and so the unfortunate connection (in hindsight) with Chris Terry came about. It’s a pity Emmett didn’t just contact her and ask about it.

Rob B
Guest

You really believe that?? Top hedge fund managers make hundreds of millions and even if the manager left they would just put another one trading the same method.

The only reason I have ever seen a hedge fund close is because they lost so much money they would never get their 20% off the top so they close and open a new one.

Something happened in my opinion for it to close and my guess would be they lost money big time.

smileypete
Guest

@Rob B
I believe the info on the IASG site is accurate – links posted earlier.

Rob B
Guest

Maybe, but count me suspicious. I just know how the world of investing works. If you had the 17th best performing hedge fund you would have so many investors pouring money in and you would not be some person going around doing day trading webinars and certainly not be closing your hedge fund. And when I search for that amazing hedge fund I would find lots articles instead of virtually nothing. The whole things smells fishy to me. Others can do their own research and come to their own conclusions.

smileypete
Guest

I only participated in this topic because Emmett came to a completely crazy conclusion due lack of any thorough research whatsoever. (sorry Emmett) To his credit at least the penny has dropped.

dtchurn
Guest

Exactly RobB. the fund looks small at less than 50 mill. And it looks like it’s a private group. Perhaps it was ponzi-like. very few trades and more funding came in like Karen the supertrader boasted her fund went up from 20 mil to over 150 mil. So when the investors demanded more returns and more trades, it bellied up quick and had to be closed.
Btw, Remember folks, “smileypete” and “Pete” & “drchump” are the same. Don’t be confused later.

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