Spectre.ai review – Is it a scam or not? – Test of the broker
For traders of binary options, Spectre.ai functions like a broker platform. The procedures here are the same as on other other trading sites. However, Spectre.ai has made an effort to provide a broker-less trading platform so that traders can engage in direct trading on the financial markets and assets. Additionally, the site does not require deposits either.
You can link your digital wallet to your Spectre.ai account using this approach. In actuality, you don’t even need to open an account to deposit the bare minimum. The built-in features of Spectre.ai can always be relied upon, nevertheless, if you don’t have a digital wallet. All across the world, Spectre.ai is providing its trading services. This platform’s strength is in enabling users to trade in binary options, CFDs, and forex.
Instead of just being a trading platform for money, Spectre.ai has a stronger focus on providing technology. Both mobile and desktop devices are compatible with Spectre.ai’s trading services. Additionally, thanks to this safe site, you don’t have to worry about losing your money as a result of dishonest tactics. It has a wide range of distinctive qualities that pique people’s curiosity in finding out more about Spectre.ai.
Learning about Spectre.ai might be an excellent consideration if you enjoy trading binary options or are willing to join the search. It is time for you to give Spectre.ai a try as well as you are in the research process to learn the strong and weak zones of various broker platforms. As a result, this paper aims to cover the most of the crucial Spectre.ai functionality areas. In addition, you will see why Spectre.ai has emerged as a rival for the market’s other brokers.
Prizes and Appreciation
The reputation of a forex broker company can be greatly enhanced by receiving accolades from prestigious organizations or publications. These honors are frequently proudly highlighted on the business website.
Spectre.ai is rated well by some consumers in their individual reviews on review websites, however there is no mention of any accolades the company has won on the Spectre.ai homepage or anywhere else.
Accounts on Spectre.ai
A trader’s account with a company like Spectre.ai, which is issued primarily for trading through its platforms, is known as a forex account.
The number and kind of accounts a trader may open with a broker firm typically varies depending on the nation in which the brokerage conducts business, the trader’s country of residence, and the regulatory bodies under whose authority the brokerage is incorporated.
Spreads and commissions, the minimal deposit required to open a particular type of account, and specific services or benefits that account holders may be eligible for are the typical differences between accounts.
For Muslim clients, unique Islamic accounts—swap-free accounts that resemble the other account types but function in accordance with Shariah law—are made available.
Account Types and Their Features
Although the majority of binary options providers lack demo accounts, Spectre.ai gives even seasoned traders the chance to view demo Ethereum accounts. There is no time restriction on this account, so you can practice for as long as you like.
Even its trading accounts differ significantly from other brokers’:
Budgetary Account
Both deposits and withdrawals are not possible. You can trade straight from your digital wallet and conduct transactions between your wallet and the markets without the need to make a minimum deposit in order to use the platform.
Additionally, winnings are immediately returned to the wallet. Additionally to cutting out the intermediary, it guarantees lower transaction costs.
The minimum trade value is $50, however there are no minimum deposit requirements. If you trade $50 and win, your earnings are immediately refunded to you.
Every trade involves paying for gas, and trading from a wallet account typically results in less payouts than from a regular account.
Typical Account
Another choice is to deposit a minimum of 0.10 ether (Ethereum), which is equivalent to $21 or 18 euros, into a privately escrowed Ethereum wallet. Since the deals are verified by the Blockchain, there is still no chance for money to be mismanaged.
Any gains you withdraw are transferred directly from the private escrow Ethereum wallet to your own Ethereum wallet.
On a normal account, the minimum trade size is $1.
Small deposit and withdrawal fees are associated with a Regular Trading Account and represent Ethereum gas costs. For accounts funded with Ethereum via remote wallets, the withdrawal window is 24 hours for trading earnings. Deposits already made can be withdrawn right away.
Since Spectre.ai enables trading without any fees, it is totally Shariah compliant and welcomes customers of Islamic faith.
The trading platform displayed was Spectre.ai.
Its own trading platform is one that Spectre.ai specifically owns and controls. The trading system has a straightforward log-in process and is totally web accessible. On this platform, you get all the essential elements, such as charts with plenty of different types of information. The price changes of any assets, whether they are one second old or one day old, can also be seen.
Platform for trading Spectre.ai
The program then provides you with access to more than 30 technical indicators to aid in making informed trading decisions. In addition, since 2020, MT4 integration has been a feature of Spectre.ai. The traders can create trading bots on the platform by using the APIs provided by Spectre.ai. The trading platform’s creators have the ability to retrieve any kind of historical data.
Additionally, the developers have the chance to test the algorithms in other markets. On the Spectre.ai demo account, you can test the effectiveness of the automatic trading option. As you trade on the platform, it will help you have a better understanding of how the automation functions.
On the website, there are more than 80 tradeable items. You can make trading decisions based on your chosen options after speculating on the price changes of all assets. You don’t have to be an asset owner to predict how prices will change. Additionally, Spectre.ai provides a unique contract class for the Epochal Price Index Composite (EPIC). Digital binary options and EPIC make up the assets. Digital contracts may offer payouts of up to 400%.
Additionally, Spectre.ai is making use of the opportunity to add equities, indices, and CFDs to the site. With some specific assets, the Spreads of Spectre.ai are preferably tight. Additionally, it permits spread-free entries across the platform. Over EUR/USD, the typical spreads across the major currency pairings are 0.58 pip. Additionally, the GBP/USD currency pair receives a 0.9 pip spread.
The profit potential for traders increases when the spreads are narrow. High win rates will benefit the traders, and profitability is guaranteed. The only fees that Spectre.ai collects as a trading platform are the trade amounts itself. You are not required to pay Spectre.ai any commission reductions or inactivity fines.
Prices, Commissions, and Spreads
The cost of trading is influenced by a variety of elements, including commissions, spreads, and margins.
The difference between the bid and asking rates is the spread for a currency pair. The smallest change in an exchange rate is measured in pip. For currency pairs with the JPY as the term currency, a pip is 0.01; for all other pairs, it is 0.0001.
The amount needed in your account to open a trade is known as the margin, and it is determined by the exchange rate of the base currency to the US dollar, the position’s size (volume), and the leverage being used on your account.
Investment brokers offer traders commissions in exchange for performing deals on their behalf. The trading asset and the kind of service the broker provides determine the commission rate.
Execution-only brokers typically have cheaper commission fees because they don’t offer personal investment advice and allow traders exclusive control over their market-trading strategies.
There are no commissions, no charge structure, and substantially tighter spreads on the Spectre.ai platform than with the majority of other brokers. With Spectre.ai, the typical spread for the EUR/USD is, for instance, less than 6 pip.
When trading from a wallet account with Spectre.ai, you just pay the gas costs for each transaction and payout. When trading from a conventional trading account, there are minimal deposit and withdrawal fees that reflect Ethereum gas costs.
Trading features and payment for Spectre.ai
The Spectre.ai platform offers a huge selection of assets. You must make the decision as to what you wish to select for trading investments. You can choose from the world’s major currencies or digital assets depending on your trading strategies. Additionally, there are possibilities for trading in equities and commodities. It’s similar to giving you the choice to incorporate complex trade features.
Within the platform, you can change your trading asset selection at any moment. For instance, if you begin trading currencies on Spectre.ai, you are free to switch to trading commodities at any time without incurring any fees or restrictions. The platform is rapidly expanding and may eventually get more features added. The platform’s trading features include, among others:
1# Short Selling
Short trades are primarily for novices who want to spend their money with less risk. The shorter expiry durations are whence “Short” got its moniker. A brief deal may last anything between 60 seconds to an hour. You should start with this trade choice first if you are not into binary options trading or Spectre.ai. You’ll get immediate results, which will help you reduce your risk factor. Additionally, it will increase your desire to make subsequent trades with longer length that are more significant.
2# Day Trading
Trading that last 12 or 24 hours are similar to intraday trades. This trading option is perhaps best suited for investors who have some prior knowledge of binary options trading. Traders who insist on intraday trades should also have the patience to let the market develop. One should possess the skills to perform intraday trading on developing assets in addition to patience.
You can anticipate the asset price to fluctuate dramatically and quickly during intraday trading. As a result, it has a considerable risk. To place a wager on the intraday trade of any chosen asset, you must thoroughly research the market.
3# Placement Trading
There are two trade placement kinds in Spectre.ai that are referred to as classic quick transactions. You’ll be trading in those trades and setting up your placement correctly to start using it at the appropriate time. It implies that you must establish the trade by making reference to its anticipated future price.
You will set up the price placement and enter the deal at a specific price or pre-determined rate. The transaction starts when the asset hits that price, and an order is placed in the direction you’ve selected.
Setting an alert for changes in an asset’s price is another option. For instance, you will be notified when the price hits the specified level that you specified. You now have the opportunity to manually enter the trade. Additionally, you can choose a time frame within which you can cancel the order if the price you anticipate doesn’t rise to the required level.
Utilizing Spectre.ai
Except for FX pairs, most assets on Spectre.ai do not support leverage. Leverage on forex pairings can be up to 40 times. This leverage potential may restrict the position and size alternatives, as well as the flexibility of choice, for traders who want to operate with the least amount of capital. Low leverage will aid traders in reducing the likelihood of future losses.
Key characteristics of Spectre.ai that demonstrate its effectiveness
You need to have a general understanding of every feature that the platform currently offers in order to better appreciate how effective Spectre.ai is. And the purpose of this piece is to emphasize all of the crucial aspects of this platform. So let’s start!
1# Initial Demo account
A demo account is a must for every binary options trading site. The traders will gain better actual knowledge of the platform features with the use of a demo account. With the exception of having virtual funds to trade with, the demo account functions exactly like the real account. This account features a simulation of real market movements that might help you choose your individual strategy.
You can test your knowledge on each asset to determine if it works out well or ends up costing money. You can register a live account and start trading when you feel you are ready and have the necessary knowledge and experience. You can use the demo account without making any investments. In fact, you may do so immediately after logging into the Spectre.ai platform.
2# Bonuses
There is no discussion of any bonus on deposits because there is no requirement for a minimum deposit when using digital wallets. Even though you are opening a standard account with Spectre.ai, you must deposit a minimum of $10 before receiving any bonuses. Additionally, Spectre.ai hosts trading competitions with a $50,000 cash prize. The traders have a fantastic opportunity to participate and win the large prize. You still gain a lot of knowledge from other merchants even if you lose the tournaments.
#3 Regulation & licensing
The laws of St. Vincent and the Grenadines apply to Spectre.ai’s operations. Additionally, the users can have confidence in this broker platform thanks to the regulation and licensing. Spectre.ai is not allowed to store any of the customer capital amounts due to the nature of its business model. You can therefore infer that it is not a fraud in any form!
4# hour Trading Option
With Spectre.ai, you can trade for roughly 24 hours a day. Some of the assets’ opening and closing periods are based on the specific market operation hours. If you choose to trade after regular market hours, the spreads could widen. As a result, even though you have the opportunity to trade around-the-clock, decide against investing in any assets after the market closes.
#5 Consumer assistance
The customer care personnel respond to the questions of traders on their site extremely quickly. Through email and live chat, the support staff is available to assist people. Simply log into the portal to access live chat, then look for a chat box in the bottom right corner of the page. You can email support@spectre.ai with your questions if that suits you better.
On the other hand, you can always check the website’s FAQ section before looking for customer service. If it’s up and running, the FAQs should have the most of your questions covered. If you prefer, you can submit a request through the contact page and wait for a response from the Spectre.ai team. To provide you a thorough understanding of everything you get inside the platform, there is also a blog section.
Spectre.ai is also available on Twitter and Facebook, so you can express your concerns there as well. Trading platforms with top-notch customer service are more likely to stand out from the competition!
#6 Aspects of security
Since all of the personal information on Spectre.ai is encrypted, the website’s security is fairly solid. In actuality, the transparent digital ledger is used to settle every transaction made through Spectre.ai. With a global network of more than 20,000 nodes, this digital ledger is verified every day. So, with Spectre.ai, you can be sure to have top-notch security.
#7 Countries that can be traded with via Spectre.ai
The list of nations that permit trading on the Spectre.ai platform is provided below. It implies that the only traders who can use this platform are those from certain nations. The following nations are eligible:
• Australia
• Canada
• Thailand
• Great Britain
• Singapore
Hong Kong,
South Africa.
• India
• Norway
• Germany
• France
• Italy
• Denmark
• Sweden
Arabia Saudi
• The Arab States
• Luxembourg
Kuwait and other nations.
The use of Spectre.ai for binary options trading by traders from the countries listed below is prohibited. The prohibited nations are:
• The United States
• Iran
• Venezuela
Caribbean Islands
• British
Caribbean Islands
• Korea
Costa Rica •
• Syria
• Yemen
• Somalia
• Vanuatu
8# Account Types
There are a few different account categories that Spectre.ai offers, each with varying advantages. To qualify for certain perks, your deposit amount must be a certain minimum. Over Spectre.ai, there are ordinary and wallet account types.
You will connect your common e-wallet to the Spectre.ai platform under the Wallet account. Then, you can trade on the platform using your crypto assets without a middleman’s intervention. The transactions are actually executed quite quickly and without any additional charges.
You must make use of Spectre.ai’s services for a normal account. You can use it to create a personal escrowed Ether wallet. The deals will continue to start using Spectre.ai’s blockchain technology. Then, all winnings will be transferred to the normal or Ether accounts. After that, you can transfer the money from your Ether wallet to your digital wallet. Additionally, a $10 minimum deposit is required if you choose a standard account.
The true test for other brokers is why Spectre.ai?
The trading platforms on the market may all seem similar, including Spectre.ai. But Spectre.ai and other brokers have nothing in common outside the fundamental functionality. Its advancement of Ethereum’s Blockchain technology is the first distinctive feature that sets it apart from all other brokers.
Smart contract technology has been implemented by Spectre.ai during the process. As a result, you can anticipate Spectre.ai to be a platform free from fraud and brokers. Additionally, this is a feature in addition to everything else a standard broker firm offers. Not all common broker platforms are fully equipped with security features to prevent fraud.
Only a few well-known traditional broker platforms have a firm grip on their security. On the other hand, Spectre.ai is designed to guarantee security. The Spectre.ai interface includes unique trading suggestions to assist users in maximizing their profit margins. In order to make a sound and successful investment, you will have an understanding of chart setups and period options.
There is no central repository for funds at Spectre.ai. To store the money and collect interest, traditional platforms prefer to work with any financial institution. However, Spectre.ai only earns money based on the number of deals. While the majority of platforms profit from client losses, Spectre.ai generates money when there is a lot of trading taking place on its platform. The volume will increase as more people win.
In order to convince traders to stop making deposits to the platform, Spectre.ai is working on this effort. However, they ought to start their deals directly from their wallets. The traders can have transparency about what is happening to their money in this way! When traders put money into their Spectre.ai accounts, that money is immediately stored in a smart contract. As a result, the money is kept secure and is not changed.
Therefore, these practices benefit the broker-less platform. And other broker platforms are attempting to catch up to Spectre.ai, which is leading the way. Many traders are currently switching to Spectre.ai or are open to doing so. All conventional brokers must now put Spectre.ai to the test in order to boost their standards and improve.
Sentinel Tokens
To allow investors to select their preferred method of investment, Spectre has also created two different sorts of tokens. Dividend Token and Utility Token are the two tokens. This suggestion of launching tokens was made by Spectre as a result of the desire for token as a valuable yield. The double token mechanism of Spectre has generated interest from merchants. Additionally, it complies with trading restrictions.
The top dividend token (SXDT)
The term “reward token” is also used to describe the dividend token. This is so that users who have these tokens receive benefits. Every month at the conclusion, Spectre typically distributes a 2% dividend to the owners of SXDT. However, this 2% payout is based on the platform’s overall monthly revenue from trade execution fees. The reward for dividend token holders will increasse as the number of transactions over Spectre.ai increases.
The holders ssof the dividend token or SXDT will receive a special reward as year-end benefits if the token reaches a specific dollar value established by Spectre by the end of the fiscal year. For this incentive system ideology, SXDT’s profitability factor is higher than SXUT’s.
Utility Token No. 2 (SXUT)
It is a typical trading token with similar principles or features to any native token of other platforms. In actuality, it is a variation of the Spectre token that traders may purchase and exchange for tokens from other platforms. With the help of this token, users can access some of Spectre’s undocumented features. Education modules, investment indicators, the smart contract expires, and 5% payments are some of the hidden features. Utility tokens now outpace dividend tokens, which are profitable but don’t offer you bigger rewards.
Training and Education
Potential Spectre.ai clients should equip themselves with all the knowledge and trading abilities necessary to succeed in the world of forex and commodity trading before beginning to trade.
A trader should look into other information sources to acquire such abilities and expertise if the Spectre.ai website itself does not offer sufficient ways.
It is unclear if Spectre.ai actually provide novice traders with any particular educational materials.
Research
Before starting speculative trading and when trading with a given brokerage, prospective traders should be able to conduct as much research about it as they can.
Trading successfully depends significantly on knowledge and comprehension of the markets and the platforms provided by a broker; as a result, research options offered by brokers play a crucial role in determining the characteristics of the company you should choose to trade with.
Technical indicators like Ichimoku, Bollinger Bands, moving averages, Awesome Oscillator, RSI, CCI, stochastics, etc. are among the research options provided by Spectre.ai.
There are various intelligent algorithms at Spectre.ai that can be activated or deactivated by traders and that detect specific technical price patterns that could lead to high probability trade setups.
A built-in economic calendar makes it easy for traders to monitor economic developments.
Review summary: Spectre.ai is a trustworthy broker!
Before using Spectre.ai, it is clear that a person wants to know everything there is to know about it. The Spectre trading platform has received a lot of attention and is very popular. But because they are unaware of how this platform works, individuals are still reluctant to use it. In reality, all of the information in this article’s highlights provides a clear understanding of what Spectre.ai is and what makes it one of the greatest options available.
Finalize it right away if you selected Spectre.ai as one of your shortlisted possibilities for names. You won’t regret the trade at all for Spectre! It is due to the elements of capital/fund transparency, no-deposit policy, and encrypted security.
FAQ’s
How many trading instruments does Spectre.ai offer?
With Spectre.ai, you can trade a variety of instruments, including the following:
• Smart Options on some commodities, forex pairs, and cryptocurrency/fiat currency pairs.
Which operating systems does Spectre.ai support?
The popular trading platforms listed below are provided by Spectre.ai:
• Personal website
Spectre.ai: Does it provide leverage?
Yes, Spectre.ai only provides leverage on Forex up to 1: 40.
What spreads should I anticipate using Spectre.ai?
To make an informed decision, further information should be sought from the customer care service as the website’s details are not sufficiently specified.
Is there a commission fee for Spectre.ai?
After creating an account, you might have access to more commission information.
Who controls Spectre.ai’s regulation?
The regulation of Spectre.ai is inadequate.
Is Spectre.ai a recommended forex broker for both seasoned traders and newcomers?
For the majority of traders, Spectre.ai offers a fair trading environment.
What score would you give Spectre.ai overall?
5/10
What distinguishes a demo account from an actual trading account?
Before opening a genuine account that needs to be filled with the user’s own real money, a demo account, such as is given by broker companies like Spectre.ai, allows a prospective customer to experiment with the company’s trading platforms and its features.
Has Spectre.ai got a demo account available?
Yes
How much time is the demo account good for?
You may use the demo account indefinitely.
Which live trading accounts are available from Spectre.ai?
• Normal Account,
• Pocket Book
What currencies can be used to fund a live trading account?
EUR, USD, or ETH
Cash in and cash out
What is the minimal payment needed to sign up for a Spectre.ai account?
Approximately $25 (0.10 ether)
With Spectre.ai, how do you deposit and withdraw money?
Spectre.ai provides the following methods for deposits:
• UpHold (credit card, bank transfer, or cryptocurrency), PaySafeCard, Skrill, Neteller, Advanced Cash, Ether, and Fasapay
Does Spectre.ai impose fees for withdrawals?
Small deposit and withdrawal fees apply, reflecting Ethereum gas costs.
What is the processing time for a withdrawal?
For accounts funded with Ethereum via remote wallets, the withdrawal window is 24 hours for trading earnings.