Spectre.ai Review: No more frauds in the trading industry?

spectre review logo
Spectre.ai is a top-of-the-line platform for stock- and cryptocurrency-traders. It allows the direct trading of financial markets.
It does this all without using a broker. That’s right. Read my Spectre.ai review below to learn more. This is something new and unique.
Broker Summary 
Headquaters Cayman Islands
Foundation Year 2017
Free Demo account Yes
Regulation & licensesYes. Spectre.ai is currently licensed with COSTA MEDIA INTERACTIVE SRL in Costa Rica and has other jurisdictional licenses under application for widest territorial coverage.
Accepted nationalitiesAll countries except USA, Costa Rica, BVI, Caymans, Iran, Venezuela, United Kingdom, Syria, Somalia, North Korea, Yemen
Minimum Deposit10
Minimum trade1
Maximum trade1am - 8:30pm GMT - $500/$1000
8:30pm - 1am GMT - $10/$20
Payout (returns) in case of a correct predictionUp to 83%
Expiry Timesfrom 10 seconds up to end of day
Early closeYes (From September 2018)
AssetsForex pairs, Crypto pairs, Commodities
Account Types Demo, Regular, Wallet Account
Number of Assets 30+
Account Currency ETH (Ethereum)
Trading SoftwareProprietary
Mobile ApplicationComing Soon
Deposit and Withdrawal OptionsETH. Debit/credit card and bank wire (via Caset).
Withdrawal TimeImmediate
24 Hours Support Yes
Support During Weekends Yes
Customer Support LanguagesEnglish
Email Address [email protected]

Spectre.ai Review

Introduction

95% of binary options traders lose their money. You should never invest money that you cannot afford to lose. The odds are always in favor of the broker.
Spectre.ai has carved a name for itself in binary options/forex/CFD-trading. Thus, they have attracted a diverse clientele. Spectre Global Limited is a financial company that owns and operates Spectre.ai. The founder and CEO of Spectre previously worked for J.P. Morgan and Goldman Sachs.

The problem with brokers

Generally, brokers are the ones who handle binary-option transactions. Managers, marketers, and other sellers run the platformThere is a fine line between legal activities and ones that cross the line, though. Unfortunately, some brokers can rack up traders’ losses without anyone knowing it. But the most outrageous thing they do is refuse to let someone withdraw their winnings.

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?

Now, the entire industry is changing because of blockchain. Everyone’s talking about it, but why? Because it instantly instills trust among users.

Blockchain has been so beneficial for many businesses. Because of this, many reputable companies incorporate it. Spectre has done exactly that.

spectre brokerless trading introduction of review ethereum blockchain

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.

Spectre is better than other brokers. Why? Because it allows users to trade from their personal cryptocoin wallets.

To trade on Spectre.ai, you need an Ethereum wallet. Ethereum is the second most popular cryptocurrency after Bitcoin.

If you are new to cryptocurrency visit my simple step by step beginner’s guide on How To Trade With Spectre.ai and Hodly cryptocurrency wallet From Scratch.

The trading platform 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.

Regulation

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.

Security

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 (more on this later). You can actually begin trading in under 30 seconds.

You can see the account setup features in the screenshots below:

spectre trading platform 0 

In simple terms, there are three styles of investing on Spectre: A-book trading, CFDs, and smart options. You must have utility tokens if you want to use the Spectre.ai platform.
  1. A-Book Trading

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.

  1. CFDs

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.

  1. Smart Options

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.  The platform offers expiry times from 10 seconds to end of the day on most trading options. And it offers custom expiry time where you can set the time.

Microexpiries

Spectre.ai is the world’s first financial platform that allows you to generate risk-adjusted return in just 10 seconds. The payouts on these Microexpiries range from 5% during low-liquidity night trading periods all the way up to 75% during the main trading day.They offer them both on traditional FX pairs and crypto currencies.

Spectre ai Trading Platform short-term expiry times

Compared to other platforms, Spectre.ai offers competitive payouts for in-the-money trades. It’s definitely worth the time and effort.

Unique features

With its unique risk management, emotion control settings and early warning engine (EWE), the system adapts to your trading style and learns your weaknesses overtime, giving you feedback on a trade-by-trade basis.

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.

Spectre ai chart indicator

Demo Account

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.

Accepted countries, European traders, Canada and more

European traders and Canada traders are accepted but this broker’s services are not made available in certain countries such as the USA, Costa Rica, BVI, Caymans, Iran, Venezuela, United Kingdom, Syria, Somalia, North Korea, Yemen

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.

 

withdrawal and deposit ethereum wallet

Fees

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.

Mobile Apps

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?

spectre safe or scam no fraud image

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.

Main Disadvantage

Before you dive in, you should know a bit  about cryptocoins and digital wallets. The basic.

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 the future.

However, you may not want to keep all your money in ETH. Fortunately, cryptocurrency markets are starting to stabilize. 

Spectre.ai Review Summary & Your Reviews

Spectre
9.1 / 10 overall
{{ reviewsOverall }} / 10 traders (1 vote)
Pros
  • 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 (not yet but it has a schedule announced when more will be added)
  • Responsive customer support
  • Zero fees on trades and withdrawals
Cons
  • Basic knowledge of Ethereum wallet and crypto exchange
  • No early closing of options
Summary
Spectre.ai is a modern cutting-edge trading platform which sits on ethereum blockchain. It is fraud-free, user-friendly and you can trade digital (binary) options, CFD and forex. Traders can trade a variety of smart options on long term and short term contracts. And they can be sure that they will get their profit. Customer support offered is multilingual. With a basic understanding of cryptocurrency you are good to go.
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Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.

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Victor Ekwere

I have been following spectre since 2017, but unfortunately I cannot trade with them now because of non availability of mobile platform so I’m still waiting for that, However my question is how do they make their money since they don’t charge commissions on trades?.