THE CHURCH OF TRADING.

The article focuses on IM Academy, a financial education platform that grew rapidly during the pandemic by targeting young people with promises of quick wealth through trading and multilevel marketing (MLM). Founded by Chris Terry, who has a controversial past and ties to MLM structures like Amway, IM Academy combined basic trading lessons with aggressive recruitment tactics, encouraging members to become "independent business owners" (IBOs) who earned commissions primarily by recruiting others. Despite marketing itself as a path to financial freedom, most members lost money, with over 94% earning less than their subscription costs, while top recruiters made substantial incomes. Regulatory scrutiny, including investigations by the U.S. Federal Trade Commission and law enforcement actions in Europe, has challenged IM's operations, though the company and its leaders continue to promote the MLM model amid ongoing legal and public backlash.