What does Platinum 5000 mean in forex?

Each rank is named for how much money it pays you per month. For example, if you can reach Platinum 600 level, you’ll earn $600 per month. Platinum 5000 = $5k/mo.

What does Platinum 150 Forex mean?

Chairman — At this level, you will platinum 150 forex meaning Platinum members within 3 legs and a personal volume of at least 4 personals Platinum members and a group volume of 4, total, which includes your personal volume.

What does Platinum 600 mean in forex?

*Monthly – Even though the amounts are shown in MONTHLY values, you are paid weekly. For example, a Platinum 600 would earn $150 per week. A Chairman 100 would earn $25,000 per week. As long as you maintain your rank each week, you get paid for whatever rank you have maintained.

Is forex a pyramid scheme?

The forex market is not a pyramid scheme. It’s a zero-sum game where experienced traders and institutional market participants make a consistent profit, while the average day traders keep blowing up their account. Just like in any other industry, there are many scams and shady business models in forex as well.

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What does it mean to be a chairman in forex?

IML rank names equal the pay in thousands, so “Chairman 10” means $10,000/month, minimum.

How do I become a Platinum 150?

So for example, to reach Platinum 150 level, you’ll need to sign up three other people who are paying an iMarketsLive membership fee. Group Volume (GV) is calculated from back when the membership price was only $145 a month instead of $165+. So for Platinum 150, you need a GV of 435 because 3 recruits x $145 = 435.

Is forex really profitable?

With statistics showing that the market is more profitable than stock trading, and trades at around $5 trillion dollars per day, there is enough evidence to show that there are successful forex traders out there. … Forex trading is profitable.

Why Forex is a bad idea?

Maximum Leverage

The reason many forex traders fail is that they are undercapitalized in relation to the size of the trades they make. It is either greed or the prospect of controlling vast amounts of money with only a small amount of capital that coerces forex traders to take on such huge and fragile financial risk.

Will Forex ever shut down?

Forex trading won’t shut down, unless of course there is a fiat currency collapse, which could happen if global economies collapse. Forex trading on the other hand, will certainly slow down, especially for retail traders. The reason is that quant trading, that is, algorithmic trading is taking hold.

How dangerous is Forex Trading?

With a long list of risks, losses associated with foreign exchange trading may be greater than initially expected. Due to the nature of leveraged trades, a small initial fee can result in substantial losses and illiquid assets.

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Can I trade forex with $10?

Yes, you can start forex trading with just $10 and even less than that. Forex brokers have some minimum deposit requirements to open account with them. Some have little high like $500 or $1000, but there are some who need only $5 or $10 to open an account.

Is forex a gamble?

Is Forex trading like gambling? No, in the sense that in gambling the odds are slightly against you or even, while good Forex traders know how to trade when the odds are on their side.

How much do forex traders make a day?

Even so, with a decent win rate and risk/reward ratio, a dedicated forex day trader with a decent strategy can make between 5% and 15% a month thanks to leverage. Also remember, you don’t need much capital to get started; $500 to $1,000 is usually enough.

Is IML a good company?

It is a MLM company but it also does have some good products to use, but they are only good if you know how to use them. Alot of people earn good money and alot of people also lose. IML isnt a platform, its a company that introduces you into forex. … Alot of people earn good money and alot of people also lose.

How much does a chairman make in forex?

Must maintain rank each week to receive the bonus payout. Chairman 250’s earn $250,000 per month & Chairman 500’s earn $500,000 per month. See the rank requirements page for more details. This is by far one of the most powerful ways to earn money with the iMarketsLive compensation plan.

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How do I start trading forex?

Forex Trading Step by Step:

  1. Step 1: Get a Device Connected to the Internet.
  2. Step 2: Find an Online Forex Broker.
  3. Step 3: Open an Account and Fun Account.
  4. Step 4: Download a Forex Trading Platform.
  5. Step 5: Enter Your First Trade.
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