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France’s AMF warns of IMarketsLive forex signals provider

 France’s financial markets and services providers AMF has warned against IMarketsLive. According to the French regulator, the company International Markets Live LTD (IMarketsLive) is offering subscriptions to training courses, forex trading signals and charting tools, with the promise to help them trade on the forex market.


AMF claims that IMarketsLive is mainly targeting very young people, including high school students. It seems, however, that IMarketsLive is a multilevel marketing scheme in which the subscribers get compensation for recruiting new subscribers.


“Following a number of reports from savers, including parents of teenagers, the AMF would like to make clear that the company International Markets Live LTD (IMarketsLive) has no authorisation in France to operate an activity regulated by the AMF on French territory”, the regulator said and advised potential targets to ignore the solicitations of the company and not to pass them on to third parties in any form whatsoever.


Our check on ImarketsLive’s site revealed that the company is offering training courses, webinars, forex trading signals and something called “Harmonic Scanner” - “a scanner and charting package that accurately identifies key Harmonic Patterns! The IML Harmonic Scanner automatically draws and labels different harmonic patterns in the FOREX market right on your MT4 platform”.


There is indeed some sort of MLM scheme on offer at the site. Enrollment in the iMarketsLive courses and offers is done through “Independent Business Owners” and one has to contact the person that shared the site with him to enroll.


Enrollment in iMarketsLive is done exclusively through our Independent Business Owners. Contact the person that shared this site with you to enroll. The Independent Business Owners, on the other hand are promised part-time or full-time earnings if they recruit more members, though a tiered bonus scheme. In order to sign up, they have to buy packages.


From iMarketsLive’s Facebook page it becomes apparent that they are regularly holding events for their members, that look like a classical MLM event with aggressive sales tactics. There has been such an event in France in November.


 

TAGS: france  amf  warning  iMarketsLive 
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