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 (updated May 19, 2020).
Spectre ai review intro: what is the trading platform about?
Spectre ai allows you to trade a wide range of assets (FX, cryptos, EPIC, 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 up to 100% of your stake, or you lose it. Currently Spectre ai offers the following expiries:
- 1, 3 and 5 second expiry (nano-expiries are only available on EPIC)
- 10 seconds expiry (only platform in the world offering this microexpiry on classic assets)
- 30 seconds
- 1 minute expiry
- 5 minutes
- 10 minutes
- 15 minutes
- 30 minutes
- 1 hour
- End of the day
Spectre ai is now the only smart options platform in the world to offer 10 seconds expiry digital options on regular assets, and 1 second on EPIC ! Spectre has other unique features, such as an advance risk management system that protect traders from their emotions, weekly contest worth $1.000 and yearly worth $50.000 (Spectre Incentive Program) and Trader’s Bay.
Who can trade on Spectre ai?
Given the license secured in Costa Rica and Vanuatu, anybody can legally trade on Spectre ai, except residents of the following countries:
- United States
- 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 regulations in place. People from Europe, UK, India, Indonesia, Japan, Vietnam, South Korea, Brazil, Russia, Germany or any other country 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 (from your Ethereum wallet)
- 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 100% profit (400% with Chain)
- Weekly and yearly contests with more than $100k in prizes
- Free and unlimited demo account (no credit card required, no deposit required… really no strings attached)
- No customers rep harassing you on the phone or via email (which happens even when you deal with reputable companies in the FX realm)
- Risk management settings
- Currencies and cryptocurrencies
- Minimum trade amount of 1$
- 10 sec expiry on FX, found nowhere else
- 1 second expiry on EPIC
- Capital protection option
- Early closure option (to minimize loss or take profit before the end of the trade)
- Android mobile app
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 Ethereum wallet trades 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.
No mandatory deposit
That’s why you don’t have to deposit money with the broker in order to be able to trade with Spectre. You can trade directly from your Ethereum wallet. If you believe it is too complicated, or you do not want to be exposed to ETH volatility, you can use the fiat wallet (deposit in USD, EUR, etc. or Ether). In that case you trade centralized. But given the decentralization option given by the platform, you can rest assured that your funds are safe, and your winnings will be paid.
Spectre was committed to decentralization. But given poor progress of blockchain technology and adoption, it has geared towards fiat currency deposits to allow as many traders as possible to avail its fraud-free smart options platform. No need to learn about gas fees, gas limit, private keys, transactions… Everything is automated, all you need to do is to create an Uphold account and link it to your Spectre account. This is a big milestone towards Spectre adoption as Ethereum was a big bottleneck before CASET. And to make things even easier, you can now deposit any currency via popular payment service providers (Fasapay, UnionPay, Advanced Cash, etc.).
Spectre offer a wide range of deposit methods. They are expanded weekly as the platform is gearing towards fiat currencies and more convenience for traders:
- Fasapay (Indonesia, Vietnam, Thailand and Malaysia)
- UnionPay (China)
- Advanced Cash or advcash (South America, Russia, Europe)
- Ether (anywhere in the world, except restricted countries)
- Help2Pay (Malaysia, Thailand, Indonesia and Vietnam)
- UpHold (credit card, bank transfer or cryptos)
Spectre.ai minimum deposit
The minimum deposit on Spectre.ai is $10. This is, of course, if you want to trade for real money. No deposit is required if you want to trade on your demo account. This is not limited in time, you can practice as long as you wish. Nobody will contact you to ask you to deposit. And if you use the decentralized account, there is of course no deposit required.
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. 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 when one trades with the decentralized wallet since it is structured to give you a complete peace of mind. Only your trading skills will determine whether you make money or not.
- Traders are constantly in control of their funds if they choose the decentralized wallet. 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. Don’t be fooled by brokers offering much higher payouts. What’s the point if you cannot withdraw your profits?
Unique features of Spectre.ai platform
Spectre offers unique features, or rare options in order to deliver the best and safest trading experience:
Trade 24h a day, 7 days a week with EPIC
EPIC a a unique asset class that you can only trade on spectre.ai. EPIC, which stands for Epochal Price Index Composite, is aggregated data of past market movements displayed in a way that mimics live market data allowing users to make predictions and place trades in the same way as any other asset. Fast paced and exciting, it allows for 24-hour trading, 7 days a week, 365 days a year – so it never closes. All prices are based on actual tick prices that occurred in historical FX markets and therefore, are fully auditable.
- Trade 24 hours a day, 7 days a week, 365 days a year
- Expiries from just 1 seconds
- Payouts up to 100% – even at 1 second!
- Liquid charts that update almost every instant
- No ‘Professional Client’ status needed to trade EPIC
Risk management system, early closure
You can set-up your risk profile so that you are prevented by the system to overtrade. Limits can be set on the number of trades, number of loss trades, financial loss, etc. It is highly flexible in order to protect you about yourself. Early closure allows you to close a trade before the expiry (to minimize losses, or to take your profits early). Capital protection is another plus: you can subscribe to some sort of insurance to limit your losses when OTM.
Trader’s Bay is Spectre’s shop, where you can buy a wide range of cosmetics and major upgrades. We will simply cover the Trader’s Bay items that give an advantage to traders, such a higher payouts, trade size or lower spreads. It works based on a daily subscription that can be switched on/off at anytime.
- Chains: +400% payout for 3 wins in a row ($1.49/day)
- Jumbo trades: x2 Investment size ($0.99/day)
- Waterfall: x2 Number of open positions ($0.79/day)
- Shredder: 50% Lower spread ($0.49/day)
- Spark: Sparkline charts ($0.09/day)
- Microtrading: Min investment size at $0.5 instead of 1 dollar ($0.19/day)
Spells (increased payouts):
- Hanuman:+1% higher payout on FX ($0.49/day)
- Naga: +2% higher payout on FX ($0.99/day)
- Phoenix: +3% higher payout on FX ($1.49/day)
- Garuda: +4% higher payout on FX ($1.99/day)
- Unicorn: +5% higher payout on FX ($2.49/day)
Spectre Incentive Program
Spectre Incentive Program (SIP) is a trading tournament that takes place every week and every year. The trader who generates the highest volume wins the prize:
- $1.000 goes to each weekly winner
- $50.000 goes to each yearly winner
There are no conditions on withdrawals (payment occurs within 48 hours on your account, money can then withdrawn anytime).
What are the cons of Spectre?
No honest review would be complete without addressing the weaknesses of a platform. The UI has been updated to compete with the best platforms around, this weakness is therefore no longer there. For a while Spectre was lacking a mobile app and API. Those flaws have been adressed since the release of the Android mobile app on February 25.
Another big issue was, for traders that are not cryptocurrencies enthusiasts (who choosed the semi decentralized wallet), ETH volatility. Traders had to keep their balance in ETH, a cryptocurrency that is, like Bitcoin, very volatile. To satisfy everybody, the platform is now storing semi-decentralized wallets balance in USD. Your balance is therefore not affected by Ethereum price swings when trading. You are also able to deposit directly USD, EUR or other fiat currencies without having to deal with Ether. Spectre is now a fully mature platform that offers many advantages.
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 if you wish to? 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 reviewers, I have been testing and using all the functionalities I’m talking about.