Spectre Review

Spectre
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Overview

A unique project provides access to trading in financial markets (options, Forex, cryptocurrency, etc.) without the participation of a broker.

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Details

BrokerSpectre
Website URLspectre.ai
HeadquartersArtemis House, 76 Fort Street, Grand Cayman, KY1-1111, Cayman Islands
Support TypesWebsite feedback form, email, online chat
LanguagesEnglish, German, Japanese, Vietnamese, Chinese
Trading PlatformInnovative adaptive platform
Minimum 1st Deposit$10
Minimum Trade Amount$1
Bonus3 types of bonuses
SpreadFrom 0.1 points
Free Demo Account Open Demo
Regulated Yes
RegulationVFSC (№ 40444)
Account TypesDemo, real, wallet
Deposit MethodsBank transfer, bank cards Visa, Mastercard, Ethereum, WebMoney, Qiwi, Yandex wallet, PayPal, etc.
Withdrawal MethodsBank transfer, bank cards Visa, Mastercard, Ethereum, WebMoney, Qiwi, Yandex wallet, PayPal, etc.
Number of Assets49
Types of AssetsBinary options, forex, CFD, stocks, commodities, bonds, ETFs, indices, cryptocurrency
US Traders Allowed No
Overall Score8.9/10

Full Review


The unique Spectre project is a trading platform in which users trade without any participation of a binary options broker. Its founders call the project a speculative tokenized trading exchange. It was created in 2017: the project was announced in September 2017 with a private pre-sale of its tokens in October-November and the public process of ICO in November-December of the same year.

At these stages, it became popular among traders interested in its opportunities. The Alpha version of the trading platform is also available for investment since September 2017. In 2018 the website spectre.ai was launched into normal operation with live accounts for trading of binary options and other assets with many functions. Despite the openness of the platform and its uniqueness, the question of whether Spectre is a swindle or an unreliable and fraudulent project is still relevant among traders, so in our material we give an answer to it.

 

Trading conditions with Spectre platform

The website spectre.ai works on the basis of blockchain technology to records of available transactions. There is no intermediary broker on the platform. Using a unique crowdsourcing technology, traders can trade directly against the Spectre liquidity pool or against other traders directly. The liquidity pool is not subject to human intervention. The platform has a set of available contracts, the security of which is provided by the auditors of the platform. In addition, the use of blockchain technology in the project offers a connection to the global pool of traders and saves overall transaction time.

Is Specter a scam? Reviews of traders about the platform

A set of proven and secure smart contracts based on blockchain provides 100% trading transparency, payment security and no fraud here. Speculators earn according to the amount of money they invest in trading. The platform profits only from the volume of transactions made by all its participants.

The procedure of account registration here is not complicated even for beginners. It is important to remember that the project deals with digital currencies of wallets instead of ordinary fiat money. Spectre.ai provides an opportunity to use two types of accounts:

  • Regular account. A minimum deposit of 0.10 ETH is required to open a regular account. The minimum trade size is $1. This account is suitable for most users and offers them all the necessary features and regular updates. Using this account allows you to get the largest profit from the project. If the client is not interested in the decentralized network and wants to start individual trading with a decent profit, this account – for him;
  • The wallet. Its opening does not require a minimum deposit. But the trader really needs a minimum deal size of $50 in order to get access to trade in cryptocurrencies and other assets. This option is more suitable for clients who prefer to trade on the basis of blockchain. The wallet offers the trader all the additional functions used by him on his regular account or in any other trading project. Decentralized network is a key reason to choose a wallet account, as it offers reliability and security of trading. The only real disadvantage here is that the payments offered from the wallet will be much less than from a regular account.

Support for direct trading from client accounts is an additional advantage offered by the platform and guarantees the safety of users’ funds.

Specter binary options trading without a broker

The essential difference between Spectre.ai and any brokerage platform is that this unique project shows its live liquidity pool, which is crowdsourcing, acts as a counterparty to transactions on the platform. It means that liquidity is present round the clock, regardless of the number of traders involved in transactions. In this case, no user trades against the balance of the shadow broker, who can give the trader the money earned, and may not give them to him.

Many traders have a reasonable question – how does a project earn money to pay its partner if there is no commission for the transaction? This whole concept is a business model of Spectre. Traders trade against the liquidity pool. Liquidity pool is money invested by those who own Spectre tokens (SXDT or D-token). The value of the liquidity pool is influenced by the supply and demand of tokens, the price of Ethereum, as it is related to ERC-20, as well as profit or loss from traders trading against this pool. Spectre takes trading fees from this pool to pay its partner and D token holders.

Specter registration on the site

 

Spectre platform

Spectre is the first trading platform without brokers, that allows clients to interact directly with financial markets. The project provides users with access to a variety of trading markets, including binary options and CFD (CFD brokers rating) contracts. Unlike most Forex trading platforms, where verification is often a tool for manipulation and time-consuming withdrawal of funds, the project offers a transparent way to confirm data against the public digital book, which authorizes the number of trading accounts (Full truth about Forex). Thus, the user gets daily access only to the already verified transactions in the market.

Specter is the first trading platform without brokers

As for the liquidity pool, it is initially funded by the initial offer of coins (ICO), and instead tokens are distributed among investors. In trading, all transactions are regulated by smart contracts. In other words, brokers are completely excluded from this process. Therefore, token owners also own a liquidity pool. Therefore, they regularly receive a part of the platform profit. The tokens, which can be owned by each of them, are traded on all cryptocurrency exchanges.

Retail traders have the opportunity to enter the market and access to smart trading assets, where there is a guarantee of up to 200% of payments. Assets involved in this new technology include both traditional and modern working methods. Decentralization of the platform allows avoiding the problem of conflict of interest. The process of trading in Spectre is implemented as follows:

  • The speculator registers on the website spectre.ai without any investments.
  • After that he opens a crypto-wallet on the site and forwards the funds to the specified address (this process is checked and managed by blockchain Ethereum, so it is completely secure). The main array of crypto wallets (off-site) can also be connected to this wallet. Only the trader and no one else can manage their funds.
  • When a speculator opens a trade for a certain period, the value of the traded assets is updated live. Reliable financial sources such as the Oanda glass are used.
  • The final result (profit or loss) is determined only at the end of trading by comparing the underlying asset with the asset «at the exit». In case of a loss, the wallet automatically writes off the corresponding amount. Immediately, the Spectre liquidity system is credited with 2% of the trading value. These funds are sent to Spectre’s operating expenses account. 2% from the sum of dividends are given to holders of dividends-tokens, but in no case to holders of utility-tokens.
  • The remaining 96% of the funds lost by the speculator, go into the pool of liquidity, thereby increasing its size.

Spectre offers you to trade in different asset classes, be it currencies, stocks, bonds, ETFs, indices and much more. In a wide range of assets there are both options and CFDs, a variety of unique types of contracts. You can find them on the project website.

The trading platform has an excellent interface with a lot of information. The resource is well organized for easy and quick work. Client balance and liquidity pool are displayed at the top, trading ideas, wallet type, tool and payouts – also on the left. The trading button, analytics, calendar and time zone are located here on the right and below. The position is held, you can view the history of trades. The live chart for the main work is located in the center of the platform. The user can choose any asset he wants to trade.

Specter trading terminal

The platform also has various tools to help the trader to perform more correct analysis of the market. Two technical indicators for Forex are available in the main trading interface by default: RSI and Bollinger Bands. However, a wide range of options can be accessed via the account settings panel. The project offers clients trading Forex signals that can be used to analyze the asset chart and develop future forecasts. However, these signals are not investment tips. They simply define possible price changes. The platform works best in Chrome and Firefox browsers.

Specter contact project manager

Spectre quotations

The information about quotes received in time, largely predetermines the success of trading. This project is one of the best decentralized applications for traders. Information comes from reputable cryptocurrency exchanges – Bibox (SXUT), ForkDelta (SXUT and SXDT), DEX (SXUT), Crex24 (SXUT and SXDT).

Indicative entry price (IEP) may differ from the spot price received from the provider of quotations in periods of low liquidity of the market or micro-expiration less than 30 seconds. If there is a difference, it ranges from 0.1 to 0.9 pips depending on market conditions. 90% or more of the entry prices to the trading platform have no spread and the spot price is IEP.

The Ethereum market in 2018 was volatile enough to cause serious concern even for the most ardent cryptographic enthusiasts. During 2018, the price of Ethereum fell by more than 80% to an annual low of $85 (far from its record high of $1448 in January 2018). Therefore, the relevance of the quotes is crucial like never before.

 

Spectre demo account

The project provides a training account to its users on the website spectre.ai for free. When registering it is automatically given to the client with a capital of 100 ETH. The demo account serves as a testing ground for various trading strategies. It also helps users to choose the most comfortable assets for trading.

However, it should be taken into account that the funds, easily obtained as a result of virtual trading, in real trading will go to the speculator only as a result of hard and painstaking work. To start trading on a demo account, the client needs to enter his name and e-mail address into a special form and then confirm it.

 

Spectre mobile application

Although trading with a computer or laptop gives a trader the maximum number of opportunities for work, but also a mobile application is a good help for additional earnings. Despite the fact that the trader has less functionality here, he has more mobility in decision-making, in access to the market. A smartphone or tablet is always more convenient to hold than a computer or laptop. Currently, the mobile application of the project is still under development and will be ready for use in 2019.

 

Spectre bonuses

In addition to trading, Spectre service offers users to take part in the user program. It is managed exclusively by the volume of trading made on the platform and not by trading losses. This guarantees the absence of conflict of interest and predictability of income for the partner. Traditional brokerage companies, alas, do not have such conditions. Participants of the affiliate program receive 3 different types of remuneration:

  • Basic commissions. They represent 50% of the trading volume for each trade made by the user’s referrals. These trades are tracked online. The partner receives them on a permanent basis.
  • 90-day bonuses, which in combination with the basic commission will bring the total earnings up to 100%.
  • Milestone bonuses. Their clients receive them as the volume of trading grows at each particular stage of the program.

Specter Affiliate program

 

Deposit and withdrawal

The wallet account does not require a deposit, as the client trades directly from his external Ethereum wallet. For a regular account, a deposit must be made to the Ethereum internal wallet. The user can do this via Ethereum, Visa, Mastercard and bank transfers. The minimum deposit equivalent to Ethereum is $10.

There are no transaction fees for trading on the Spectre platform. Payment is made for gas. The frequency also depends on the account type used here. The gas fee is minimal, it does not go to Spectre, but is used to confirm transactions on the Ethereum blockchain.

Smart option payments range from 5% to 200% depending on the asset, expiry date and time of day. Spectre.ai allows a spread-free choice of most assets, where the indicative entry price (IEP) corresponds to the spot price. However, for periods of the very low liquidity, such like 8pm-midnight GMT or on exotic products, a small spread can be applied at an input of 0.1-0.9 pips.

For traders using the option onsite trading account, the withdrawals can take up to 24 hours, depending on each user’s activity and balance. For users who trade with their wallets, the profit is instantaneous. It should also be noted that there is a special online platform for currency exchange uphold.com cooperating with Spectre.ai. in order to facilitate the process of withdrawal of funds to clients. This separate platform is used as a means of support for withdrawals of money, provides assistance to all interested traders on certain working conditions.

 

Complaints against Spectre

There are no complaints from traders about the project in the network at the moment. Perhaps it is due to the fact that it started working actively in 2018 and it has been too little time to understand how traders treat it, how honest it is.

If we find complaints about Spectre, we will post it on social media. Follow us to be well informed:

 

Spectre regulator

The project is owned and operated by Spectre Global Limited company. To contact the support team, traders must fill out a contact form on the website spectre.ai. The project has a VFSC license number 40444. It is currently unavailable in the following jurisdictions: USA, Costa Rica, British Virgin Islands, Cayman Islands etc. This information is published on the website.

The developers of the project will eventually seek to move under the regulation of MiFID through the FCA of the Great Britain, German BaFin and CySEC. This means that Spectre does not plan in any way to approach the U.S. market, although once its business model becomes a stock exchange model, it may make sense for it to do just that.

Spectre User agreement

Before becoming a customer of any investment project, it is necessary to have a clear understanding of one’s rights and responsibilities in working on its platform. Otherwise, ignorance of some of the provisions can lead to significant financial losses or account blocking. The Spectre platform Spectre.ai has all the aspects of cooperation with clients on the website spectre.ai in the section «Terms and conditions».

First of all, the developers of the resource warn that the project is unavailable for a number of countries. That’s why a potential client should make sure that he can use this resource without any problems. In case of neglecting this rule, the investors registered from some countries will not be reimbursed:

Specter Rules: the project site is not available for all countries.

The project in p.23 warns that in some cases it reserves the right to selectively test clients to check their knowledge and experience in trading. In exceptional cases, access to Spectre.ai may be denied to individuals who have not been tested:

Specter rules: a project can test traders for knowledge about the markets

All activities carried out on the platform are subject to Vanuatu law only:

Specter Rules: The project is governed only by the laws of Vanuatu

 

Is Spectre a scam?

The simple and clear answer here is no. It is impossible to cheat on this platform and benefit from it, because each trader trades directly from his or her wallet. Even when trading with the deposit is implemented, the process of work is completely under the control of the player. It is protected by an Ethereum smart contract.

For the sake of clarity, it is possible to compare the project under consideration with trading, where brokerage services are used. What is typical for classic standard stock exchanges, for instance Forex brokers? Firstly, dividends on them are not paid, and secondly, all operations are «filled» by brokers. Profit on such an exchange can be obtained only in case of client losses. It is clear that in the case of decentralized stock exchanges the situation is quite different.

Accordingly, the Spectre project cannot be called a classical trading platform, as the liquidity pool here acts as a counterpart for all trading operations. Unlike classical platforms, developers of Spectre.ai are maximally interested not only in increase in inflow of clients, but also in that their trading operations were successful.

There is some doubt about its capabilities at the moment, but it can be eliminated after the feedback from its clients. The very method of work on this platform, the ability to conduct trading without any involvement of a broker, freedom of action, security and reliability due to the use of crypto-technologies, undoubtedly, attract new and new players to the project. As a recommendation for investors interested in the project, it is worthwhile to start by testing its capabilities with a minimum deposit.

 

Summary

Spectre opens a truly new approach to reforming the binary options trading industry. Forex trading, cryptocurrencies, etc. are also in the target list of opportunities for the developers of this resource. Using blockchain Ethereum and its smart contracts for trading without a broker can be considered as a new revolutionary direction in trading on financial markets. Time to invest in this project now means to get a regular and worthy profit today and in the future.

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