Can You Really Master Forex Trading with IM Academy?
Forex trading has become an increasingly popular investment option for people looking to diversify their portfolio or generate passive income streams. The Forex Market is the largest financial market in the world, with an average daily turnover of over $5 trillion. With so much potential for profit, it's no wonder many people are interested in learning how to successfully trade currencies.
But can you really master Forex trading with IM Academy? In this article, we'll explore what IM Academy is all about, their approach to Forex education, and what students can expect to gain from their programs. We'll also look at some success stories from IM Academy graduates, along with potential drawbacks and alternatives to consider.
What is IM Academy?
IM Academy (formerly known as iMarketsLive) is a multi-level marketing company that offers various Forex education products and tools. The company was founded in 2013 by Christopher Terry, a former trader who wanted to create a platform to help others learn how to trade Forex successfully.
IM Academy's main product is their Forex education platform, which consists of live trading sessions, video tutorials, and other resources. They also offer a suite of trading tools, including a trading signal service and automated trading software.
In addition to their education and trading tools, IM Academy operates as a multi-level marketing (MLM) company, which means that students can also earn commissions by referring others to join the platform.
How Does IM Academy Approach Forex Education?
IM Academy claims to have a unique approach to Forex education that sets them apart from other online Forex trading courses. According to their website, they offer a "holistic" approach that focuses on four key areas:
- Education - IM Academy offers a comprehensive range of Forex education resources, including live trading sessions, video tutorials, and interactive quizzes.
- Application - Students can test their knowledge and skills by participating in simulated trading environments, which enable them to practice trading without risking real money.
- Mentorship - IM Academy offers mentorship programs that connect students with experienced traders who provide guidance and support throughout their Forex trading journey.
- Community - IM Academy has a large and active community of traders who share insights, tips, and strategies on trading Forex.
IM Academy aims to be an all-encompassing platform that provides students with everything they need to succeed in Forex trading.
What Programs Does IM Academy Offer?
IM Academy offers various education programs that cater to traders at different skill levels:
1. Beginner Programs
IM Academy's beginner programs aim to teach the fundamentals of Forex trading, including how to read charts, understand technical indicators, and analyze the market. Some of the beginner programs offered by IM Academy include:
- "IM Mastery Academy" - a comprehensive program that covers the basics of Forex trading and technical analysis. This program includes live trading sessions, video tutorials, and access to a community of traders.
- "Swipe Trades" - a trading signal service that provides subscribers with alerts when to enter and exit trades.
- "Harmonic Scanner" - a tool that helps traders identify potential trade opportunities using advanced pattern recognition.
2. Intermediate Programs
IM Academy's intermediate programs build upon the fundamentals of Forex trading and focus on more advanced trading strategies. These programs include:
- "Swing Trades & Night Owl Sessions" - a program that teaches swing trading techniques and covers the U.S. market's open and close times.
- "Gold Cup" - a mentorship program where students work with an experienced trader to develop a trading plan and receive one-on-one coaching.
3. Advanced Programs
IM Academy's advanced programs are designed for experienced traders who are looking to refine their skills and take their trading to the next level. These programs include:
- "HFX - High-Frequency Forex" - a program that focuses on scalping techniques and teaches students how to trade using short-term price movements.
- "Fusion Trader" - an automated trading software that combines technical analysis with artificial intelligence to identify potential trades.
What Do IM Academy Graduates Say?
IM Academy claims to have helped thousands of traders worldwide achieve success in Forex trading. But what do graduates of IM Academy's programs actually have to say about their experience?
Reviews of IM Academy online vary. Some students praise the platform for its comprehensive education resources and active community. Others have reported feeling overwhelmed or disappointed with the results they've achieved.
One graduate of IM Academy's programs, however, had this to say:
"I started with IM Academy when I knew nothing about trading. With their education and mentorship programs, I've been able to develop my skills and become a profitable trader. I'd recommend IM Academy to anyone who's interested in learning Forex trading and making money from trading currencies."
Another advantage of IM Academy's education is the potential to earn commissions by referring others to join the platform. If you're an experienced Forex trader, you could end up earning a significant amount of money just by sharing your knowledge and experience with others.
Are There Any Drawbacks to IM Academy?
While IM Academy has much to offer, there are a few potential drawbacks to consider:
1. Cost
IM Academy's programs are not cheap, with pricing ranging from $234.95 to $274.95 per month for its subscription-based courses. There are also additional fees for accessing their trading tools or automated trading software, which can add up quickly.
2. Time Commitment
IM Academy's education programs require a significant time commitment to complete fully. Students must devote hours of their time to watch video tutorials, participate in live trading sessions, and complete quizzes and coursework. While this is necessary to succeed in Forex trading, it might be challenging for people with busy schedules to find the time.
3. MLM Model
IM Academy operates as an MLM company, which means that students can earn commissions by referring others to join the platform. While this can be an attractive incentive, it's worth noting that MLM companies are often associated with pyramid schemes and can be perceived as unethical by some.
Alternatives to IM Academy
If IM Academy's programs don't seem like a fit for you, there are several other alternatives to consider:
1. Babypips.com
Babypips.com is a free Forex education website that offers beginner-friendly tutorials, trading strategies, and a supportive community of Forex traders.
2. Udemy
Udemy is an online learning platform that offers a range of Forex trading courses at an affordable price. Their trading courses start from as little as $19.99 and offer lifetime access to course materials.
3. Forex.com
Forex.com is a well-established Forex broker that offers educational resources, trading tools, and automated trading software to its clients. While Forex.com may not be the best option for beginners, experienced traders may find its offerings to be useful.
Conclusion
So, can you really master Forex trading with IM Academy? It's certainly possible, and many students have reported success with the platform. IM Academy offers a comprehensive education program, a supportive community, and mentorship programs that can help traders of all skill levels achieve their trading goals.
Still, there are some drawbacks to consider, such as the cost and time commitment required to complete IM Academy's programs fully. Additionally, IM Academy's MLM model may not appeal to everyone.
Overall, if you're interested in learning Forex trading or looking to improve your current trading skills, IM Academy could be a suitable option. But, as with any investment venture, it's essential to do your research, weigh your options, and make an informed decision that aligns with your goals and values.