Spectre.ai review – Is it a scam or not? – Test of the broker
- Decentral brokerage
- Safe & secure
- Free demo account
- No minimum deposit
- Crypto trading
Spectre.ai is like a broker platform for binary options traders. Here, the operations are similar to that of all the other trading platforms. But, Spectre.ai has tried to put up a broker-less approach for the traders to trade directly on the financial markets and assets. In addition to that, the platform doesn’t demand deposits as well.
And with this process, you can connect your digital wallet to that of Spectre.ai account. In fact, you do not need to open up your account to pay the minimum funds at all. But if you don’t have a digital wallet, you can always rely upon the built-in options of Spectre.ai. Spectre.ai is offering its trading services all across the globe. The strong zone of this platform is to let the users trade with binary options, CFD and Forex.
Spectre.ai is more leaned towards being a tech provider than being just a financial trading platform. You can gain access to Spectre.ai’s trading services over mobile as well as desktop devices. Also, you do not need to worry about losing your money due to false measures over this secure platform. It has a plethora of unique features that develop the interest of people to learn more about Spectre.ai.
If you are into binary options trading or are willing to join the quest, learning about Spectre.ai can be an ideal consideration. As you are under your research phase to know the strong and weak zones of various broker platforms, it is time for you to give Spectre.ai a try as well. Therefore, this article is here to cover most of the important areas of functionality over Spectre.ai. Apart from that, you will also know why Spectre.ai has become a challenge for the other brokers in the market.
What you will read in this Post
Spectre.ai – The trading platform presented
Spectre.ai possesses its own platform for trading and owns it by name. The trading system is entirely accessible by the web and comes with a direct log-in process. You get all the basic features within this platform, including charts with ample varying information. Also, you can view the price movements of any assets, whether it is one second old or one day old.
Following that, you get over 30 technical indicators over the platform to help you with accurate trading decisions. Apart from that, MT4 integration is now part of Spectre.ai since 2020. The APIs within Spectre.ai allows the traders to build trading bots over the platform. The developers have the potential to extract any kind of historical data from the trading platform.
Moreover, the developers also get the opportunity to test the algorithms across diverse markets. You can explore the efficiency of the automated trading option over the demo account of Spectre.ai. It will help you get an idea of how the automation works upon trading within the platform.
There are over 80 tradable products available over the site. You can speculate the price movements of all assets and then decide upon trading on your selected options. You do not need to own an asset to speculate their price movements. Moreover, Spectre.ai has its own Epochal Price Index Composite contract class (EPIC). The assets are split between EPIC and digital binary options. Digital contracts have the potential to pay up to 400% payout.
Spectre.ai is also leveraging the potential of introducing stocks, indices, and CFDs to the platform. The Spreads of Spectre.ai are preferably tight, with some particular assets. And, it also allows spread-free entries over the platform. The average spreads over the major forex pairs tend to be 0.58 pips over EUR/USD. And the GBP/USD forex pair gets a spread of 0.9 pips.
When the spreads are tight, the profit aspects for the traders increase. The traders will receive benefits from high win rates, and profitability is assured. Spectre.ai, as a trading platform, takes no additional fees other than the trading amounts for its services. You do not have to pay any inactivity fees or commission cuts to Spectre.ai.
Spectre.ai- Trading features and payout
There is a wide range of assets available over the Spectre.ai platform. It is upon you to decide on what you want to choose for trading investments. Depending upon your trading tactics, you can pick the major currencies across the globe or the digital assets. Not just that, but you have options to trade on commodities and stocks as well. It is like, offering you options to implement fancy trading aspects.
You can switch the choice of your trading asset anytime within the platform. For instance, if you start to trade currencies over Spectre.ai, you can always switch to commodities anytime, without charges or limitations. The platform is immensely growing and might add more features to it in the long run. Some of the trading features within the platform include:
#1 Short Trading
Short trades are basically for beginners who want to take low risks in their initial investment. The name ‘Short’ came from the faster expiry durations. A short trade can last for a time range of 60 seconds to 1 hour. If you are not into binary options trading or Spectre.ai, you need to start with this trade option on priority. It will help you see quick results, helping you to lower the risk factor. In addition to that, it will also boost your motivation for more significant duration trades in the future.
#2 Intraday Trading
Intraday trades resemble trades that can last for 12 or 24 hours. This trade option is most likely for traders who have some sort of experience with binary options trading. Moreover, the traders imposing on intraday trades should have the patience to let the market unfold. Even beyond patience, one should have the knowledge to implement intraday trading upon growing assets.
Amidst intraday trading, you can expect the asset price to fluctuate in high rapid movements. Therefore, the risk factor is high with it. You need to study the market well in order to place your bet on the intraday trade of any selected asset.
#3 Placement Trading
Under Spectre.ai, there are two trade placement types that are known as the traditional immediate trades. You will be making the trade-in those trades and set the placement accordingly to commence with it at the right moment. It means that you need to set up the trade by referring to the future price of it.
You will be entering the trade at a particular pricing or a pre-defined rate and set-up the price placement. When the asset reaches that price, the trade begins, and the order is placed based on your chosen direction.
You can also prefer to set an alert on the price movements of an asset. For example, when the price reaches a particular amount that you chose, you will receive an alert. It is the time when you can go ahead and manually enter the trade. You can also set a time limit to cancel the placement in case the price you expect never reaches the mark within that period.
Leverage of Spectre.ai
Leverage is unavailable for most of the assets over Spectre.ai, except on forex pairs. Forex pairs are available with up to 40 times leverage. For the traders who want to operate with minimum capital, this leverage potential might limit their position and size options or flexibility of choice. Low leverage is what will help the traders to limit the potential loss probability as well.
Essential attributes of Spectre.ai that proves its efficacy
To help you better understand the efficacy of Spectre.ai, you need to get an idea of all the existing attributes within the platform. And this section is especially to highlight all of the critical features of this platform. So, let’s begin!
#1 Demo account
A must-to-have for every binary options trading platform is a demo account. A demo account will help the traders learn more about the platform features on a practical note. The demo account acts just like the real account, except you get virtual funds to trade over it. This account has the algorithm to simulate the real market movements, to help you decide your unique strategies.
You can try out your expertise on all of the assets to see if it turns out productive or becomes a loss move. When you think you are ready with the knowledge and expertise, you can create your live account and commence with your trading aspects. You do not need to make any investments for using the demo account. As a matter of fact, you can do it right after you log in to the Spectre.ai platform.
As there is no requirement for a minimum deposit for the use of digital wallets, there is no question of any bonus on deposit. Even though you are creating a regular account with Spectre.ai, you have a minimum deposit of $10 but no bonus upon it. Also, Spectre.ai runs the trading tournaments with a money reward of $50,000. It is an excellent opportunity for the traders to take part in it, and bring home the big prize. Even though you don’t win the tournaments, you still get to learn a lot from other traders.
#3 Licensing & regulation
Spectre.ai operates under the regulations of St. Vincent and the Grenadines. And with this regulation and licensing, the users can put their trust in this broker platform. The operation model of Spectre.ai doesn’t permit it to hold any of the capital amounts of the customers. Hence, you can conclude that it is in no way a scam!
#4 24/7 Trading Option
You get to trade for around 24/7 with Spectre.ai. The opening and closing times of some of the assets depend upon their respective market operating hours. The spreads might become wider if you prefer to trade outside the standard market hours. Therefore, even though you have the option to trade 24/7, choose not to invest in any asset after the market closing hour.
#5 Customer support
The customer service representatives are very much prompt towards attending to the queries of traders over their platform. The support team is accessible to help the individuals through live chat and email. For live chat, you can just log into the portal and check the bottom right-hand side of the page to find a chat popup. If you prefer to email your queries, then you can send your concerns to [email protected].
But, before looking out for customer support, you can always check the FAQ section of the website. The FAQs will answer most of your queries if it is operational. You can also fill out the query form, available over the contact section, to let the team of Spectre.ai contact you with a solution. There is a blog section over the platform as well to give you a complete idea about what you get within the platform.
You can also escalate your concerns through the social media channels, as Spectre.ai is now live over Twitter and Facebook as well. The trading platforms that offer high-end customer support have higher chances of standing out in the crowd!
#6 Security aspects
The security of Spectre.ai is quite strong, as the website uses encryption to secure all of the personal details. In fact, all the transactions that take place over Spectre.ai are settled over the transparent digital ledger. This digital ledger is verified every day, with a global network of over 20,000 nodes. Hence, you can be assured of top-notch security with Spectre.ai.
#7 Acceptable countries for trading over Spectre.ai
Here is the list of countries that allows trading on the Spectre.ai platform. It means that only the traders of these countries have access to trade over this platform. The acceptable countries are:
- United Kingdom
- Hong Kong
- South Africa
- Saudi Arabia
- United Arab Emirates
- Kuwait, and others.
The traders from the below countries are restricted from using Spectre.ai for their binary options trading needs. The restricted countries are:
- United States
- Cayman Islands
- Virgin Islands
- Costa Rica
#8 Account Types
Spectre.ai offers a couple of types of accounts that have varying benefits of their own. It totally depends upon the size of your deposit to make you eligible for those benefits. There are wallet account and regular account types over Spectre.ai.
Under the Wallet account, you will be linking your standard e-wallet with the Spectre.ai platform. You can then use your crypto assets to trade over the platform without the interference of a middle man. In fact, the transactions are processed quite instantly and without any additional fees.
For a regular account, you need to use the services of Spectre.ai. It will help you open up a private escrowed Ether wallet. The trades will still be commencing over the blockchain technology of Spectre.ai. All of the winnings will then be passed onto the Ether wallet or regular account. You can then withdraw the funds over your Ether wallet to your digital wallet. And if you opt for a regular account, you need to pay a minimum deposit of $10.
Why is Spectre.ai the real test for other brokers?
Spectre.ai might seem similar to that of all the other trading platforms in the market. But, apart from the base of functionality, there is nothing similar about Spectre.ai and other brokers. The first unique factor that makes it different from all the other brokers is its development over Ethereum’s Blockchain technology.
In the process, Spectre.ai has implemented smart contract technology. Therefore, you can expect Spectre.ai to be a fraud-free and broker-less platform. Also, this is an additional feature, with inclusion to everything else that a traditional broker firm has. Not all the regular broker platforms are rich with security aspects to ensure complete fraud protection.
There are only a bunch of reputed traditional broker platforms that have a stronghold over their security. Spectre.ai, on the other hand, is built to ensure security. The Spectre.ai interface consists of special trade ideas to help the users maximize their profit returns. You will get an idea of chart-setups and timeframe ranges in order to make a healthy and profitable investment.
Spectre.ai has no central authority to store the money. The traditional platforms prefer to partner with any financial institution to store the money and earn some interest. But, Spectre.ai makes money only by the volume of trades. When most of the platforms gain their money on losses of their clients, Spectre.ai makes money when there is a high volume of trading over its platform. The more people win, the higher the volume will be!
Spectre.ai is working on the initiative to build trust & reassurance for the traders never to deposit money over the platform anymore. But instead, they should commence their trades right from their wallets. In this way, the traders can have transparency about what is happening with their funds! The moment traders deposit an amount to the Spectre.ai account, it stores within a smart contract. Hence, the funds remain secure, and no alteration is made to it.
Hence, such procedures help the broker-less platform. And Spectre.ai leads the way, with other broker platforms trying to chase it. As of now, there are many traders who are switching or are willing to switch to Spectre.ai. And now, it is a test for all traditional brokers to cope with Spectre.ai in order to raise their bars and become more proficient.
Spectre has also issued two types of tokens to let investors choose their mode of investing in Spectre. The two tokens are Dividend Token and Utility Token. The preference of token as a valuable yield is what pushed Spectre to propose this idea of launching tokens. The traders are showing interest in the double token system of Spectre. Also, it is compliant with the trading regulations.
#1 Dividend Token (SXDT)
The dividend token is also referred to as a reward token. It is because the users get some rewards upon holding these tokens. Spectre tends to pay a 2% dividend to the SXDT holders at every month-end. However, this 2% dividend is upon the total fees generated from the trades that are executed over the platform for that month. The higher the transaction counts over Spectre.ai, the higher will be the reward for holders of dividend tokens.
If the dividend token or SXDT hits a certain amount of money set by Spectre by the end of every financial year, then the holders will get a special reward, as year-end perks. The profitability aspect is higher with SXDT, in comparison to SXUT, for this reward system ideology.
#2 Utility Token (SXUT)
It is a regular token for traders with similar ideology or functions as that of any native token of other platforms. In fact, it is a form of Spectre token that the traders can buy and trade for other platform tokens. This token allows the users to gain access to some hidden features of Spectre. The hidden features include educational courses, investment indicators, the smart contract expires, and 5% payouts. A dividend token is rewarding but doesn’t offer you higher payouts, and a Utility token takes the lead at this point.
Conclusion of the review: Spectre.ai is a reputable broker!
It is very much evident that a person wants to know everything about Spectre.ai before they can actually use it. There is a lot of fuzz and popularity of Spectre trading platform. But people are still hesitating to turn up to this platform, as they don’t understand its functionality. In fact, all of these details highlighted within this article give a clear insight into what Spectre.ai is and what makes it one of the best among all!
If you have chosen Spectre.ai as one of the options in your shortlisted names, then finalize it right away. You won’t regret trading over Spectre at all! It is because of its encrypted security, no-deposit policy, and capital/fund transparency aspects.