IML Legal Details
If you have concerns about the legality of IML, many questions are answered below.
Is iMarketsLive Legal? (8 min.):
Is iMarketsLive A Pyramid? (4 min.):
Is iMarketsLive A Money Game?
IML has legitimate products that offer consumers an extraordinary benefit in the form of financial education. Our goal is to:
1. Help people earn more money by growing investments with IML’s unique services, and
2. Create a long-term residual income by building a network of members who excel with IML.
We’re on a mission to help millions of people learn how to keep more of what they earn, and grow it far beyond what they normally can in traditional investment programs. We are unashamedly and enthusiastically determined to build a huge network of millions of members, helping them benefit from IML’s fantastic services. While our members have the ability to learn to invest and trade without ever building a network, a major purpose of this business is also to help as many people as possible build residual income.
Does iMarketsLive Have A Product Customers Use?
We have thousands of people actively using the IML membership. We have a huge number of people who have shared screenshots of their successful trading. It’s impossible to know what percentage of people are profiting from the IML system, because we don’t have access to anyone’s broker accounts. Even the IML CEO doesn’t have any way to know that number. IML never touches nor controls anyone’s investment money. So if 100% of people profit from the AutoTrader, or 10% do, we have no way of knowing what the number is. We only have access to the number of members, people who keep paying the $145 monthly fee – if the system didn’t work, it’s logical to assume people wouldn’t continue paying for the membership.
Regardless, we are confident our retention and product usage is FAR SUPERIOR to that of most network marketing companies, since we have a 55% customer requirement – yes, 55% – so it is clear to anyone concerned, that a HUGE number of non-reps (people not making money from recruiting) are using our services. For more details on the 55% requirement, review the Compensation section.
Federal Trade Commission: “The telltale signs of a pyramid scheme“
Federal Trade Commission: “Multilevel Marketing”
Forbes, Aug. 29, 2014: “Would You Join A Multi-Level Marketing Company For Retirement Income?“
Forbes, Dec. 24, 2016: “Would You Join A Multilevel Marketing Network To Earn Extra Income?“
IML Is An Exempt CTA (Commodity Trading Advisor)
- IML doesn’t accept investments. IML is not a broker. You put your money in a brokerage, where no one else touches it. IML never has access to anyone’s money.
- IML doesn’t get any commissions or fees based on trading or any broker transactions. IML is prohibited from sharing any revenue on trades or earning commissions for directing business to brokers.
- The only money IML receives is payment for the $195 enrollment and $145 monthly membership (“subscription”) fee. It’s similar to (almost the same as) an investment newsletter, with products and services to educate and help members invest their money effectively.
- You may cancel your IML membership at any time.
Code of Federal Regulations on CTAs (Commodity Trading Advisors)
If you want to read the official law about what trading advisors can and cannot do, here is the CFR (Code of Federal Regulations, which is where federal is law spelled out in detail), Title 17, “Commodity and Securities Exchanges,” Chapter I, “Commodity Futures Trading Commission,” Part 4, “Commodity Pool Operators And Commodity Trading Advisors,” Section 4.14: “Exemption from registration as a commodity trading advisor.”
“The Code of Federal Regulations (CFR) annual edition is the codification of the general and permanent rules published in the Federal Register by the departments and agencies of the Federal Government produced by the Office of the Federal Register (OFR) and the Government Publishing Office.”
Title 17 → Chapter I → Part 4
Title 17: Commodity and Securities Exchanges
PART 4—COMMODITY POOL OPERATORS AND COMMODITY TRADING ADVISORS
Subpart A—General Provisions, Definitions and Exemptions
§4.14 Exemption from registration as a commodity trading advisor
[The code is really long, so if you want to read it, click the link above.]
Wikipedia.org: “Commodity Trading Advisor”
“Exemption from registration under the Investment Advisers Act of 1940”
“If a commodity trading advisor engages in significant advisory activities regarding securities, it could be required to register under the Investment Advisers Act of 1940 (Advisers Act). However, most commodity trading advisors are able to rely on an exemption from registration set forth in Section 203(b)(6) of the Advisers Act. This exemption is available to registered commodity trading advisors whose business does not consist primarily of acting as an investment adviser.“
Lexology.com, Dec. 20, 2012, second paragraph: “SEC releases guidance on Advisers Act exemption for CFTC-registered investment advisers that advise private funds”
“Section 203(b)(6) of the Advisers Act contains two sections, Section 203(b)(6)(A) and Section 203(b)(6)(B), that exempt certain investment advisers that are registered with the CFTC as CTAs from registration with the SEC as an investment adviser. Section 203(b)(6)(A) exempts from registration any such CFTC-registered investment adviser whose business does not consist primarily of acting as an investment adviser (as defined in Section 202(a)(11) of the Advisers Act) and who does not act as an investment adviser to (i) an investment company registered under the Investment Company Act of 1940 (the “Investment Company Act”) or (ii) a company that has elected to be treated as a business development company under Section 54 of the Investment Company Act and has not withdrawn its election.“