iMarketsLive Review: Legit or Forex Scam? (2020)

[META] Recent scam/spam trends.. Or, a peak inside what it's like to moderate /r/forex

After a few...especially trying...interactions with unhappy ban recipients today, I thought it would be fun to share a little info on what moderators do to keep this place clean. :)
The forex industry is full of shady characters. Any industry sitting on the intersection of financial independence, work, and money, is bound to attract them. There are many reasons for this; the lower barrier to entry compared to other markets, the lack of public knowledge on the subject, and greedy human nature to name a few.
Moderating a subreddit dedicated to forex (or anything trading realted for that matter,) presents extra challenges beyond your regular sub. Marketers and scammers are super motivated, and MLM / referral marketing is extremely popular right now, which can turn everyday regular users into sources of spam.
How we currently tackle this problem involves technology (scripts, bots, and automod,) a mod review workflow, and some smart sleuthing when needed.
The mod team and our scripts aren't perfect though... but the few false positives we get are a very, very small fraction of all mod actions taken (~1%.) Unfortunately, that means some otherwise sincere members get handled roughly, and that can really suck.. I wish there was a better way, but the alternative is this place becomes a wild west and starts looking like your gmail spam folder.
That said, here's my personal stats for JUST the last 24 hours:
And I'm just one of the mods. . .
So what scammer and marketing trends are we seeing lately?
Honestly, it can be really frustrating at times.. luckily the scripts we have in place make weeding out ~80% of these jokers quite easy and quick. Heck, we had one scammer who blew through 12+ accounts over the last few days trying to scam people but none of their posts ever saw the light of day thanks to the spam triggers I've written.
What motivates the mod team to keep this place clean? That's an easy answer: The majority of users here are new to trading. Making sure they aren't food for the wolves is important.
But even with all the measures we take, some bad actors still get through.
So here's where you can help: Use the report button! Anytime you see something that you think fits the descriptions listed above, or violates our sidebar rules, just report it. Even if you're not 100% sure, don't be afraid to use the report tool.. The worst thing that can happen is the mod team reviews and approves it, but the best outcome is you directly help keep this place clean and humming! :)
And the mod team is always looking to improve where it can: I've already talked about what we do to scrub away bad actors, but one place we could do better is education. The plan is to rewrite a good portion of the wiki to include the following sections:
(Titles above are a work in progress ;P)
Are you a good writer and want to help out with this? Think you can write up a killer wiki article on spotting scam artists? Message the mods and let us know!
Finally, a reminder, we are still interested in taking on more moderators and will be revisiting that very shortly. If you'd be interested, read through this post and reply accordingly: https://www.reddit.com/Forex/comments/h7ok6k/seeking_more_mods_recruitment_thread/
submitted by finance_student to Forex [link] [comments]

Can someone explain to me why iML (imarketlive) is a scam?

Now, I have already seen posts that said iML is a scam. But I guess, I'm in that state of self-deception and I want to believe that it's not. Right now, I have a foot invested in iML that cost me $1 to get access to everything except IBO.
It been about 2 weeks now and, as a newbie, everything seems great and legit. Until I saw reddit's posts regarding iML. Since I don't want to be a fool, I'm posting this topic hoping that you guys can convinced my self-deception that this is truly a scam.
1st off, on the first training video, you can hear CEO terry saying that "Results are not typical and past performance doesn't guarantee future results." which immediately made me lower my "bullshit" guard and further believe that this is legit, because it sounds like a real life situation.
I tried their autotrader aka fx signal live, (with demo of $5,000 USD) which I find it to be super slow in gain. Withing 2 weeks it went from initial to $5,121. Seems like crap to me, but at least it's bring in profit. So nothing that trigger my "bullshit" radar here since the rate feels realistic to me.
Now, the harmonic scanner seems to be working best for me, (again in demo money) I win some and I lose some, but ultimately, I win more than lose, so I was in the profit. Which again, seems realistic to me, since the harmonic scanner is not 100% accuracy.
So far, with the demo account and the harmonic scanner, I learn to control myself a bit more when I lose money, and I learn to be patient and learn to study the market (when to enter, exit, etc)
based on my experience, I just honestly don't understand how iML can be a scam. But I'm just a new trader, so I'm probably wrong when compared to you guys.
Sorry for my ignorance, but I will really appreciate your input on this. For the time being, I will check out https://www.reddit.com/Forex/wiki/index and try to learn more information.
P.S. please note that I am not an IBO so I don't have any experience with iML's MLM system. IMO, being an IBO seems like hard work just for $35. So I don't understand why would anyone want to be an IBO.
submitted by paladin7378 to Forex [link] [comments]

New to Forex, Why does IML suck?

Hello, I was completely blind to the idea of Forex until I was introduced to IML. After some googling, I understand that people see IML as a scam. Mainly because of how it is a MLM company but also a source of education- although the education is arguably bad in comparison to free education such as from babypips.

I know a lot of people are saying that the education is not worth the money you pay, and if you're doing the MLM portion you're bad person for introducing them to other people, but I would just like some feedback on IML themselves and if it really is as bad as people say, regardless of the MLM perspective.

A lot of reviews discussed their "Autotrader" which they have by now removed and also discussed other add-ons, I just want feedback about their main features, such as the "Harmonic Scanner" and also about their community. As when you join you get bombarded with invites to several different forex chat rooms. They also market their education as infamously offering "earning while you're learning", I was curious if their ForEx mentors, Harmonic Scanner and community are worth it?

Thanks :)
submitted by IWasNeverMeantToBe to Forex [link] [comments]

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iMarkets Live IML Forex Trading For Beginners Honest Review

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