The problem with binary options
So, do what I did: scroll through posts on trading forums. You’ll find lots of unnerving stories that way. There are binary-option brokers who refuse to let people withdraw their money. They often offer vague excuses or even ignore their requests altogether.
It’s pretty obvious what’s happening, isn’t it? The more money that traders lose, the more money the brokers make. The only reason this can occur is because this type of business is unregulated.
How is Spectre different?
Blockchain has been so beneficial for many businesses. Because of this, many reputable companies incorporate it. Spectre has done exactly that.
Spectre recognized blockchain’s potential right away. So, they constructed a trading platform based on it. An important feature of blockchain is that it’s decentralized technology. The result is a trading platform that offers all the usual benefits. In fact, it’s so much like other platforms that you can’t tell the difference. This platform gives you complete access to all major currencies. Users can access specific cryptocurrencies, too. Also, they work with stocks and commodities.
But it’s the basic technology that I like most. Using blockchain, Spectre has eliminated any possibility of fraud.
To trade on Spectre.ai, you need Ethereum. This lets you trade directly from your wallet. Yes, you can do it without depositing funds into an account. Ethereum deposits can convert into fiat currencies. This is what enables trading in major currencies.
What I recommend is to use the free demo account. Spectre is currently offering all new users a chance to try it. They even load in 100 Ethereum tokens so you can test different strategies. This is the perfect time to try Spectre.
Spectre.ai’s services are nothing short of exemplary. On the other hand, no one is immune to regulations. They’re subject to Costa Rican oversight, licensed under certificate number 58373902016.
As many companies do for tax reasons, it is based offshore. That does not necessarily mean Spectre is a scam. After all, many scams have been based in the European Union.
Spectre offers fantastic security. To be specific, every trade is mined and settled on the global Ethereum blockchain. It is always secure and fraud-free.
With all its applications, blockchain involves more than just digital currencies like Bitcoin and Ethereum. Bitcoin is one of many different applications that benefit from blockchain.
Ethereum works on the public blockchain network, like Bitcoin does.
What is so beneficial about Ethereum’s decentralized platform?
Platforms like this operate on blockchain and get all the major benefits:
Inconvertible – Third parties cannot make changes to the data.
Tamper-proof – Decentralized apps cannot get corrupted. Working through a network created through consensus, censorship is impossible.
Safe & secure – There is no main point of failure. This is because the platform uses cryptography. Thus, accounts are safe from fraud and hackers.
No downtime – Apps cannot go down or get turned off.
Here is an 8-minute video that explains how Spectre.ai is different from broker/trading platforms:
Trading Platform, Minimum Trade, Trading Assets, and Expiry Times
Spectre.ai is a innovative trading platform that is easy to use. Coupled with its simple navigation, Spectre.ai is easy to learn.
This market-prediction platform’s users come from over 130 countries. Anyone with an ETH (Ethereum coin) wallet can create an account. You can actually begin trading in under 30 seconds.
You can see the account setup features in the screenshots below:
A-book traders can trade CFD options between equities, assets, and forex. This is somewhat like investing in CFDs. You can set up your investment to get a specific dollar amount per pip.
Fortunately, A-book trading is highly regulated. Unlike CFDs and smart options, it is centralized. And like CFD-trading, it is low-risk/low-reward investing. Because it’s centralized, Spectre.ai uses fiat money to connect to A-book platforms.
Investing in CFDs entails low-risk/low-reward trading. There is a broad array of assets to invest in. Unlike working with smart options, you are not restricted by arbitrary time frames. Spectre lets you set your “stop loss” and “take profit” amounts before transactions. You can also allowed close out your investments at any time.
Smart options are akin to high-risk/high-reward binary options. Investing in these can result in a payout of 75–90%. If not, you suffer a loss of the amount you originally invested. Additionally, they give you wider latitude in terms of assets.
Assets include only currency pairs for now. But they have plans to include indices, stocks, and commodities in the near future. That’s not even the icing on the cake, though! I was even able to open trades on cryptocurrencies, like Bitcoin and Ethereum.
Of course, the platform lets me trade the assets with various smart option types. The options include call/put, high/low, knock-in/knock-out (my favorite!), and order ladders.
Users can make speculative trades on over 70 assets. Even better, users can see outcomes in as little as 5 minutes. Moreover, the platform offers long-term expiry times on most trading options.
Compared to other platforms, Spectre.ai offers competitive payouts for in-the-money trades. It’s definitely worth the time and effort.
Here is the main window you see in the trading area:
and this is what you see when you click the green or red arrow:
Spectre lets you find trading signals with various expiry times. This was one of the most useful features.
The main chart also gives you psychological support when expecting a reversal.
To encourage users to try it, Spectre offers a free demo trading account. This is a great strategy that prevents people from wasting money. The demo account is loaded with 100 ETH for practice with strategizing. Then, you can profit from the world’s first broker-less trading platform.
Withdrawals and Deposits
If you have an Ethereum coin wallet (or “ETH wallet”), you don’t even have to make a deposit. You can trade directly from your wallet. It works the same way as Bitcoin wallets.
This makes Spectre the most secure and fraud-free trading platform. No more worries about whether your withdrawal will reach your bank account.
Also, withdrawals may take up to 24 hours. They are not instant. This may sound inconvenient, but security trumps convenience.
Trading at Spectre.ai is also affordable, since the minimum deposit is equivalent to $10.
As you can see in the image below, you need an ETH wallet to trade. A few paragraphs down, I link to a beginner’s guide to ETH wallets.
Luckily enough, Spectre.ai does not levy fees on open trading positions. Because of this, you can rest assured that hidden charges won’t eat into your bankroll.
Bonuses and Promotions
Spectre.ai does not offer deposit bonuses. Instead, they treat existing traders to bonuses as tokens of appreciation.
While Spectre.ai doesn’t have a functional mobile app yet, they plan to release one soon. Based on what I learned from customer support, the app is in beta testing. Luckily, we only have to wait 2 months, at most, for it.
Is Spectre.ai Safe or a Scam?
As you can see, Spectre is the safest trading platform for all the reasons I’ve mentioned. Furthermore, it cannot be a scam, even if they wanted it to.
How does Spectre make money? It earns a volume-based technology fee when you trade. Therefore, it doesn’t make money when you lose, unlike other trading companies.
Traders trade either against each other (P2P) or against the liquidity pool. The pool is also called DALP (decentralized autonomous liquidity pool). This means no one deals with shady brokers who may choose not to pay out. Neither Spectre.ai nor the traders have access to the DALP. Only certain smart contracts on the blockchain can extract or send funds from and to the DALP.
Before you dive in, you should know about cryptocoins and digital wallets.
For people new to cryptocurrency, you can take a look at this short guide on how to exchange money to ETH and open a wallet.
Luckily, ETH isn’t that difficult to learn and may prove to be useful in general.
However, you may not want to keep all your money in ETH. Unfortunately, cryptocurrency markets are volatile. In fact, 10 ETH may be worth $5,000 today but may change to $1,000 or $10,000 in a month.
Spectre.ai Review Summary & Your Reviews
- Decentralized. Broker-less. Fraud free! (this is the first of its kind and unique for the time being)
- There is no broker, just highly secure smart contracts running on the Ethereum blockchain to ensure your trade outcomes and funds are secure
- Low minimum trading requirement
- A wide range of assets and options
- Responsive customer support
- Zero fees on trades and withdrawals
- Knowledge of Ethereum wallet and crypto exchange
- No early closing of options
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