Spectre.ai Review

Spectre.ai is a revolutionary trading platform based on blockchain technology that focuses on providing its users with binary options. Spectre offers a new form of trading that doesn’t require you to make any initial deposit and utilizes crowd-sourced technology. In this review for 2023, we analyze the authentication and KYC procedures, mobile applications, dividends and tokens, and other related components.

Spectre AI quick overview

💻 Trading platformSpectre AI custom proprietary trading platform
📊 Types of accounts:Demo, Live
💰 Currency for account:USD, EUR, GBP
💵 Deposit/WithdrawalVisa and MasterCard cards, UpHold, FasaPay, Help2Pay, Boleto, PIX, PerfectMoney, UnionPay, UPI, PAYTM, JioPay, PhonePe, OnlineNaira, SticPay, PicPay, WalaoPay, Cryptocurrencies
🚀 Minimum deposit:0 USD
📈️ Minimum OrderMinimum investment: 1 USD
🔧 Instruments:Shares, Forex, Commodities, Binary options, Reverse Futures, Crypto, EPIC
📱Mobile trading:Yes
➕ Affiliate Program:Yes
⭐ Trade featuresEPIC, Reverse Futures
🎁 Bonuses and contests:Yes

(Risk Warning: Your capital could be at Risk)

Spectre.ai Overview

Spectre is an acronym for Speculative Tokenized Trading Exchange and it is a platform that allows people to trade cryptocurrency and other assets. Spectre Trading Limited, registered in St. Vincent and the Grenadines, owns and operates the company.

In 2017, the corporation extended an invitation to investors to join in its Initial Coin Offering (ICO). The broker has been a big hit with the Asian trading crowd and is now expanding its reach to Europe and other parts of the world.

The Spectre team has gained recognition for their pioneering approach to online trading, making headlines and raising eyebrows. The foundation of their business operates using a decentralized autonomous liquidity pool (DALP) built on the Ethereum blockchain network. The system automatically compares new orders to the existing order book. If no other trade exists, then the trades are filled using the DALP (Direct Access Liquidity Pool).

Spectre operates using a broker-less model, meaning it does not take customer deposits and withdrawals in the usual way. With e-wallets, there is no middleman involved and you can take control of your payments and profits. By using this choice, online transactions can be processed quickly, securely, and with transparency.

Regulation

Spectre Trading Ltd is an International Business Company that is incorporated in St. Vincent & the Grenadines and is authorized to carry out various commercial, financial, lending, borrowing, trading, service activities and the participation in other enterprises, as well as providing brokerage, training and managed account services in currencies, commodities, indexes, CFDs and leveraged financial instruments. The company has a sub-licence agreement with Nebula Two Ltd, a Financial Services Provider registered in the Republic of Kazakhstan and authorized to provide Forex, Crypto Currency, and Payment Processing Services (e-wallets) to the public.

Trading Platform

Spectre.ai offers a unique trading platform with a straightforward login process and easy accessibility on the web. With its charts ranging from 1 second to 1 day and more than 30 technical indicators, it offers all the features you would require for your trading.

Spectre may not have the same advanced features as MetaTrader, but they plan to bring integration with both MT4 and MT5 in the upcoming period.

APIs enable users to construct trading robots with automated strategies. By utilizing the platform’s historical data, developers can experiment with their algorithms in different markets. Spectre demo accounts also offer automated trading for you to try out.

Spectre AI trading platform

In 2022, Spectre made massive improvements to their trading platform. It features quick and reliable execution, easy navigation, simple menus, and interactive charts for a superior user experience.

Assets

Spectre.ai offers more than 80 unique derivative products, allowing users to bet on the price movements of various underlying assets without taking ownership of them. Binary options and EPIC contracts constitute the majority of Spectre’s investing products, with EPIC being a proprietary index developed by the platform.

Digital contracts are gaining a reputation due to their lucrative yield potential of up to 400%. Within just one second, you have the freedom to trade in multiple financial markets, such as forex. EPIC contracts are unique financial instruments that are created from a combination of historical market trends and ongoing market movements. These contracts behave like any regular asset and can be traded 24/7.

Spectre.ai is constantly expanding its selection of available assets by adding more cryptocurrencies and Decentralized Finance (DeFi) coins to the list. Brokers are offering the latest cryptocurrencies with demo accounts which provide up to 90% returns and near zero-pip spreads. This investment option is available round-the-clock. UK clients should be aware that they cannot access cryptocurrencies due to restrictions imposed by the Financial Conduct Authority.

A plethora of stocks from various sectors like manufacturing, technology, software, gaming and entertainment have been introduced to the list recently. This brings the total number of stocks to over a hundred.

Spreads & Fees

Spectre.ai offers a range of tight spreads with the ability to trade on some assets with no spread at all. On major forex pairs like EUR/USD & GBP/USD, the average spread is 0.58 & 0.9 pips respectively. Narrower spreads benefit traders, allowing them to enjoy a higher profit. However, the payouts on binary options from different providers tend to be lower in order to compensate for the better spread rate. Digital CFDs with Zero Leverage incur a daily charge of 1 pip on open positions.

Spectre.ai has been praised for not charging any additional costs, like inactivity and commission fees, which are quite common amongst other brokers. This is a great plus point for traders who consider cost-effective trading as a priority.

Spectre.ai Leverage

Leverage is not a feature on the majority of assets, however, forex allows up to 1:40 leverage. People who have a limited amount of capital to invest in trading may find it challenging to take on multiple positions at once due to their reduced leverage. But, this can also work as an advantage by helping to reduce the potential losses they might incur.

Mobile Apps

Spectre.ai offers a mobile trading app that can be downloaded on both Android and iOS devices. The APK application has been designed to ensure that it provides users with the same features and experience as its desktop version. Logging into the system is straightforward, giving you access to all the necessary assets for you to conduct a price analysis.

This review was disheartening as the app was unable to be downloaded from Apple or Google’s app stores. To access the trading platform, traders must make use of the link provided on the main website. The app is compatible with iPhone, iPad, and Android devices, making it possible to conveniently trade from your mobile device.

Deposits & Withdrawals

Trading on Spectre.ai doesn’t require you to use traditional currencies, like fiat money. Instead, it’s possible to invest directly from your digital wallet – no need for bank accounts or credit cards.

Customers can make their payments through a variety of methods, such as:

  • Skrill
  • Ether
  • Uphold
  • Neteller
  • PaySafeCard
  • Bank transfer
  • UnionPay (China)
  • Credit/debit cards
  • Advcash (South America, Russia, Europe)
  • FasaPay (Indonesia, Vietnam, Thailand, and Malaysia)
  • Help2pay (Malaysia, Thailand, Indonesia, and Vietnam)

For even more convenience and control, you can opt for a Decentralized Finance (DeFi) Wallet. With it, you can easily deposit and withdraw funds as needed. Spectre currently supports tokens such as SNX, KNC, BAND, LINK, USDC, and PAX. Going ahead in the months to come, their list will be further updated with their proprietary SXDT and SXUT tokens.

In 2022, Spectre.ai announced the launch of several local payment solutions to facilitate transactions. Traders in Brazil now have access to CuboPay, a digital payment platform that supports fiat and cryptocurrency deposits and withdrawals. Indian clients can make payments via various digital platforms including UPI, Netbank, Paytm, JioPay, and PhonePe, and many more.

For Wallet accounts:

  • No minimum deposit
  • $50 minimum trade size

For Regular accounts:

  • $10 minimum deposit
  • $1.00 minimum trade size

Spectre.ai facilitates payments but does not keep them in its system, so the speed of processing depends on the payment provider, usually taking around two days to process. It usually takes a few days for funds to be transferred or processed using wire transfers and credit/debit cards.

Withdrawing funds from your broker shouldn’t incur any extra cost, but you should examine the transaction policies of your chosen payment method carefully. Doing so ensures that you don’t end up paying any hidden fees.

Demo Account

Spectre.ai provides interested traders with an opportunity to test out their trading platform and instruments in a risk-free environment. A demo account with virtual funds is available to give users a feel of the platform and its features. With this, they can develop a better understanding of the real-market conditions and confidently switch to live to trade whenever they’re ready.

Bonuses & Promotions

Spectre.ai has no minimum deposit requirement, hence there is no incentive in the form of a welcome bonus upon depositing funds. Along with its other services, the brokerage firm also provides attractive promotional offers. For instance, they have trading tournaments that can reward lucky participants with up to $50,000 in prizes. Participating in the market through contests and competitions is a great way to have a chance at winning prizes, as well as to take tips from experienced investors.

Regulation & Licensing

Spectre.ai operates under a regulatory framework in the Republic of St. Vincent and the Grenadines, and provides traders with a secure trading environment. You can be sure that the broker is reliable and doesn’t con customers as their operating model does not permit them to keep your money in a typical way. Consequently, traders no longer require the same level of assurance from government authorities that an intermediary broker can be relied upon to pay out profits.

Additional Features

Spectre.ai doesn’t provide additional features like the typical online brokers, such as access to learning resources and forums. Educational tools can be really useful, but the additional features they provide are truly remarkable.

U-Token Rewards

SXDT, the dividend reward token of Spectre.ai, is a form of internal currency that rewards traders with larger payouts, more available assets, and greater trade sizes. Utility tokens are digital assets that you can store in your cryptocurrency wallet, to make use of them for trading. They allow you to take advantage of various trading opportunities and maximize your profit potential. Check out the rewards portal to see what benefits you can gain from your loyalty program.

Spectre Incentive Program

Every week, the Incentive Program holds a tournament with cash prizes for those who generate the highest trading volumes. Every week, the winner of the competition receives a cash prize of $1,000. The annual winner is rewarded with an additional $50,000.

Live Accounts

Spectre.ai doesn’t have different types of accounts with varying benefits linked to the size of your deposit as they don’t require any minimum balance while using their digital wallet. Accounts are typically divided into:

  • Wallet Account – With a standard wallet account, there is no intermediary involved in the trading process. This makes transactions faster and more cost-efficient as there are no fees to pay. Your crypto wallet is connected directly to the system, allowing you to carry out trades quickly and securely.
  • Regular Account – You can opt for a regular account, which functions as an Ether wallet with a private escrow service. Crypto trades are still verified on the blockchain. All profits you gain will be sent to a secure Ether wallet, where it can then be transferred to the e-wallet of your choice. There is a $10 minimum deposit with the regular account.

Benefits

Opening an account with Spectre.ai has its own perks which include but are not limited to:

  • 80+ tradable assets
  • Up to 400% payouts
  • No minimum deposit
  • $1 minimum trade size
  • One-second EPIC expiry
  • Decentralized liquidity pool

Drawbacks

Before trading through Spectre.ai, there are a few potential downsides to be aware of, including:

  • Limited educational resources
  • Not regulated by a major financial watchdog
  • Mobile apps aren’t available in their respective stores

Trading Hours

Spectre.ai provides 24/7 trading within the range of the respective market’s operating hours. Trading during other times may cause wider spreads, so it’s best to avoid it in most cases.

Customer Support

It is possible to connect with the support team at Spectre.ai via email and live chat for any queries or concerns.

  • Email – support@spectre.ai
  • Live chat – The broker’s website has a feature that can be accessed by clicking the bottom right-hand corner.

If you have any questions, the Spectre AI website offers a comprehensive Frequently Asked Questions (FAQ) section and an online query form to help you out. Spectre.ai’s Medium blog can give you some helpful guidance on using the features of the platform in the most effective way. It serves as an ideal roadmap for getting the maximum potential out of the platform.

Telephone support may be an issue for some users, however, we noticed that chat support is closely monitored on a daily basis and can address most queries related to the platform or account.

Staying up-to-date with Spectre.ai news? Make sure you follow their social media channels for the latest updates.

Security

Spectre.ai ensures its user data is secure by utilizing encryption technology to protect all personal information on the platform. Transactions conducted on the blockchain network are settled on a public digital ledger, which is re-verified every 24 hours by an increasingly vast international system of more than 20,000 nodes.

Accepted Countries

Spectre.ai provides support for traders from a variety of countries worldwide, including Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, and Qatar. Most other countries are also eligible to trade.

Traders based in the United States, Venezuela, Iran, Vanuatu, Cayman Islands, Virgin Islands, United Kingdom, Costa Rica, Korea, Syria, Somalia, and Yemen are not allowed to use Spectre.ai services.

Spectre.ai Verdict

Spectre.ai is a digital trading platform that allows traders to participate in high-speed trading with minimal risk. It utilizes advanced technology to match traders with other traders or a built-in pool of liquidity, ensuring 24/7 availability and no place for fraud. One of the unique features of this platform is that it operates without the use of a middleman or broker, and instead, it utilizes secure smart contracts on a global blockchain to govern all trading transactions.

Another benefit of this platform is the absence of a need for deposits, which is unlike traditional brokers. Users can trade straight from their digital wallets, and the platform earns revenue through a volume-based technology fee. This platform is also fully compliant with Shariah laws.

Spectre.ai stands out from the crowd with its special EPIC contract class, a no minimum deposit policy, and a blockchain-based trading environment that offers complete transparency. These features make it an ideal choice for those looking for something different in terms of online trading. Traders looking for a secure, cost-effective, and easy-to-use platform should take a look at Spectre.ai as it checks all the boxes.

(Risk Warning: Your capital could be at Risk)