Many traders stay away from binary and smart options because of the widespread unreliability (huge understatement) of the brokers filling that space. Nowadays cryptos and FX traders can safely join the Spectre ai trading platform and enjoy this thrilling form of trading without worrying about their funds or the fairness of the environment. We explain why in this Spectre ai review.
Spectre ai review intro: what is the trading platform about?
Spectre ai allows you to trade a wide range of assets (FX, cryptos, later on commodities, stocks, bonds…) under the form of smart options. What is the difference between binary options and smart options? Smart options are non-cash settled. Furthermore, the settlement can be done before the expiry, for example to cut losses on a trade that should be lost. What are binary options? In a nutshell, you have to determine whether the price of an asset will go up or down within a certain timeframe. The outcome is binary: either you make a profit of 70/80% of your stake, or you lose it. Currently Spectre ai offers the following expiries:
- 10 seconds expiry (only platform in the world offering this microexpiry)
- 30 seconds
- 1 minute expiry
- 5 minutes
- 10 minutes
- 15 minutes
- 30 minutes
- 1 hour
- End of the day
- Customized expiry (with SXUT unlock, click on the link for more info)
In Spectre ai demo account the following turbo expiries are being tested:
- 10 seconds expiry
- 30 seconds
Once they will be added to the live platform, Spectre ai will be the only smart options platform to offer 10 seconds expiry digital options!
Who can trade on Spectre ai?
Given the license secured in Costa Rica, anybody can legally trade on Spectre ai, except residents of the following countries:
- United States
- United Kingdom (Spectre has applied for an additional license in order to accept residents of the UK)
- Caymans Islands
- British Virgin Islands
- Costa Rica
- North Korea
Please note that anybody willing to trade for real money on Spectre ai will have to go through a standard KYC procedure. This shows the commitment of the company to comply with the law. People from India, Indonesia, Japan, Vietnam, South Korea, Brazil, Russia, Germany and all the others not mentionned above can trade. Go to Spectre website.
Why Spectre ai is the best binary options broker out there?
Here is, in short, why you won’t find a more secure place to trade on earth:
- Trade without deposit
- Trade against a decentralized liquidity pool instead of the books of the broker
- Business model that relies on volumes, and not losses, for the company to be profitable
- Price feeds from Xignite
- Up to 83 % profit
- Free and unlimited demo account (no credit card required, no deposit required… really no strings attached)
- No customers rep harassing you on the phone or via email
- Risk management settings
- Currencies and cryptocurrencies
- Minimum amount of 1$
- 10 sec expiry, found nowhere else
With Spectre your losses do not go into the pockets of the broker, but to the DALP, acronym of decentralized autonomous liquidity pool. In order to guarantee transparency and fairness, Spectre ai relies on the Ethereum blockchain to store liquidity and handle trades. The transactions are managed by smart contracts, made of immutable code. It is therefore impossible for Spectre ai to have access to the funds: smart contracts govern the flow of money, not scammy brokers.
That’s why you don’t have to deposit money with the broker in order to be able to trade with Spectre. Either you trade directly from your Ethereum wallet, either you send your ETH on the smart contract. You and only you can access those funds, by trading or withdrawing. Even better, you can withdraw your money at any time, without any intervention from the platform. It usually takes a few minutes to get your withdrawal.
Spectre will put an end to binary options scams
You probably understood by now why this Spectre ai review claims that it is the best trading platform out there. In short, Spectre mandate is to put once and for all an end to the binary options scams that have wrecked the finances of so many traders, sometimes pushing people to suicide. Competitors will have to adapt or die, because:
- Spectre does not rely on traders losses to make money, but on volumes by charging a small fee on every trade. The liquidity pool is governed by smart contracts. Spectre has therefore no incentive to cheat on their customers, and it has built its underlying architecture around the Ethereum blockchain to make sure that this fairness and transparency is guaranteed. Actually whether Spectre is regulated or not does not even matter, since it is structured to give you a complete peace of mind. Only your trading skills will determine wether you make money or not.
- Traders are constantly in control of their funds. This is extremely important to restore the trust between the trading platform and the traders.
- Fair payouts: they have been calculated to be fair to the traders while ensuring that the liquidity pool does not get drained. It is important to note that in the eventuality that you deposit ETH on Spectre smart contract, it remains independent of the liquidity pool. Don’t be fooled by brokers offering much higher payouts. What’s the point if you cannot withdraw your profits?
What are the cons of Spectre?
No honest review would be complete without addressing the weaknesses of a platform. Here are the few disadvantages that Spectre has VS its competition… but also the measures that will be taken to make of Spectre ai the undisputed best binary options platform:
- Cryptocurrency based: not every trader is well versed in Ethereum. Even if the advantages of using the blockchain are obvious for the reasons cited above, not everyone is willing to learn how it works, because to be honest it is still quite complicated.
- ETH volatility: traders keep their balance in ETH, a cryptocurrency that is, like Bitcoin, very volatile. If cryptos enthusiasts won’t mind much, it might push away traditional traders not willing to be exposed to Ether volatility. Even if there is also some volatility between the US dollar and your own currency (that can be also quite important if you live in an emerging economy, such as Turkey, India or South Africa).
- Above average UI: the Spectre ai UI is far to be the worse around, but it lags behind the best binary options UI. Sadly, some people will prefer flashy interfaces, even if it leads them to be scammed.
This said, there are plans to tackle in the very near future all those weaknesses:
- First, CASET system will be rolled out by the end of the summer 2018. It will be a system that will allow anybody to “deposit” (which means creating an Ethereum wallet and loading it with ETH) and trade with a credit card without knowing anything about the blockchain. No need to learn about gas fees, gas limit, private keys, transactions… Everything will be automated. This will eliminate bottleneck number one.
- ETH volatility: CASET will allow anybody to join and trade on Spectre ai, but what about the cryptocurrency volatility? To satisfy everybody, the platform will allow pure USD trading. This feature will be rolled out towards the end of 2018.
- About the UI, Spectre is already working on a completely revamped UI. Not only it will be much more beautiful, more intuitive, but also loaded with new functionalities. Spectre will then be able to compete with the best.
Conclusion of this review: Spectre will disrupt the digital options industry
Unparalleled transparency, safety guaranteed by design, a wide range of products, aesthetic UI, competitive payouts… Spectre is already a superior trading platform, but soon will be positioned to blow the competition away.
Why on earth would you take the risk to deposit money with a broker that is accused of scam by hundreds of traders when you can use the same flashy UI and get similar payouts while you are constantly in total control of your funds? This ends this Spectre ai review. If you have any question or objection, please use the comment section and I will answer.
Disclaimer: this Spectre review has been written in total independence. I’m not paid by Spectre, or got any instructions, it represents my personal opinions. I’m trading on the platform (user Digital-Options.pro), but I’m also an investor, I hold SXDT. The reason why I invested is explained above: Spectre truly offers a fair, safe and transparent smart options trading platform that will disrupt the space. Unlike most other reviews I have personally been testing and using all the functionalities I’m talking about.