In this Spectre.ai review, we’ll cover all the details of login and registration, trading conditions and the app. The main task is to find all the features, advantages and disadvantages of the broker. And also answer 2 questions:
Is it a safe or scam platform?
Does it make withdrawals?
Spectre is a fairly new binary and digital options trading platform. In 2017, investors participated in the ICO (Innitial Coin Offering), and as a result, this company appeared in 2018.
The company strives to be innovative. So, the Broker uses blockchain technology and offers several unique trading instruments (EPIC, Reverse Futures). Spectre.ai is also the first financial exchange that gives privileges to the owners of a special Utility Token (SXUT).
Now about everything in detail.
Content
Trading conditions on Spectre
| Official site | https://spectre.ai |
| Year of foundation | 2018 |
| Regulated by | |
| Trading instruments | 30+ Covered CFDs, Binary and digital options on Forex, EPIC, Reverse Futures |
| Spreads and commissions | Below average floating spreads 0.1-0.9+ pips EUR/USD – from 0.5 pips GBP/USD – from 0.9 pips |
| Average and maximum profitability of BO | 72%-75%, up to 90% |
| Options expiration time | 1s – 5h (or End of the day) |
| Most popular | Spectre in Indonesia, Brazil, India, Thailand, UK, Germany, South Africa, Egypt, Canada |
| Provision of services in the US, UK, Canada, European Economic Area | The US The UK, Canada and the European Economic Area |
| Min. trade size | 0.01 (CFDs) 1 $ (BO & DO) |
| Account types | Regular, Wallet |
| Minimum deposit | $ 10 or trading via an e-wallet |
| Minimum withdrawal | $ 10 |
| Deposit & withdrawal methods | 13+ |
| Payment Fees | |
| Trading hours | 24/7 |
| Trading platforms | Proprietary platform |
| Mobile App | |
| Demo | |
| Copy Trading | |
| AT/Robots | |
| Bonus | |
| Affiliate program |
Is Spectre.ai reliable and legal or a scam?
The website and platform are owned by Spectrum Trading Limited, with registered office at Suite 305, Griffith Corporate Center, Beachmont, Kingstown, St. Vincent and the Grenadines.
The broker was recently founded (in 2018) and is not regulated. There is no government legal regulation in the binary options industry. But the broker also offers CFD instruments, for which there are a huge number of regulatory bodies.
There are several more reasons not to trust Spectrum broker.
- Their slogan is “High frequency, low risk trading. Simplified”. However, online trading is always associated with high risks of losing your deposit. Since the broker is unregulated, he may not mention this. Although in terms and conditions, it is written about high risk.
Another similar phrase.
- Trade directly against the Spectrum liquidity pool or against other traders. This may mean that your trades remain inside the brokerage platform and do not enter the foreign exchange market. And the broker can manipulate the currency quotes.
- Of course, every broker has bad terms in the rules. And this one is no exception.
In other words, the company can disconnect the trading platform at any time and does not guarantee its stable operation.
At the moment, we have found few real reviews about Spectre.ai. Among them there are both sharply negative and positive ones. The broker has an average rating of 3 – 4.
In general, Spectre isn’t a highly reliable and safe broker. But it also cannot be argued that they are a scam platform at the moment.
Trading platform and offers
Immediately after login, you are taken to the Spectre broker’s own trading platform.
Trading is available in CFD instruments, binary and digital options for about 30 assets. Of these, only 20 forex assets and 10 unique instruments, including EPIC. Of course, this is extremely small.
It is convenient to work with asset charts on the Spectre trading platform. You can open several tabs with different assets at once. There are 9 chart timeframes and over 115 indicators! This is enough for any trading strategy. Besides, you can save your template with indicators.
The average return on binary and digital options is 72-75%, up to a maximum of 90%. You can get up to 400% profit in 1 second on chain trades, but it will be extremely difficult (Pocket Option also has this type of options). Deals are opened instantly.
It is highly discouraged to trade on unique assets like EPIC and Reverse Futures. Although they are a feature of a broker and are often highly profitable, their quotes are unpredictable. Spectre.ai can draw any quotes for them and you can easily lose funds.
The expiration date can be set from 10 seconds to 5 hours, or until the end of the day. Profitability with expiration dates up to 5 minutes can be extremely low.
You can also set capital protection. This provides a return of a certain amount in case of an unsuccessful outcome, but reduces profitability.
CFD spreads and fees
A prerequisite for CFD trading is the placement of take profit and stop loss. You can close a position at the current price at any time. The leverage is 1:1. This limits both potential profits and potential losses.
Spectre.ai spreads are very low. Most of the time, spreads for major currency pairs and other trading instruments are 0.1-0.9 pips. Spreads widen during periods of high volatility.
In the review, it was pleasant to find out that Spectre.ai does not charge trading commissions or other additional fees.
Demo account and wallet
Spectre.ai provides a free demo account. The virtual account contains $ 200,000 and allows you to test the platform and evaluate trading conditions. The disadvantage here is the lower spreads, which are actually higher in real trading.
A regular account is a standard one. You can deposit via bank transfer, credit card, e-wallet. But you must pass the obligatory KYC verification to login the real account.
A feature of the Spectre broker is the ability to trade directly from your wallet. This requires a cryptocurrency ETX wallet.
Mobile app
Spectre.ai has a mobile app only for Android. You can download it on the broker’s official website. The login process is fairly easy. As a result of the review, the Android application has all the functions for analysis and trading in real time. Occasionally, it can lag when opening positions.
Surprisingly, the broker still doesn’t have an iOS app in 2021. Perhaps they will soon make it possible to trade from iPhones and iPads.
Deposit and withdrawal
There are more than 15 payment methods available on Spectre for deposits and withdrawals. The main payment options available in most countries are:
- Visa/MasterCard
- Wire Transfer
- Uphold
- Finrax
- Skrill
- Neteller
- Perfect Money
- PaySafe Card
- Rapid Transfer
There are also regional methods for depositing and withdrawing funds.
- Boleto (Brazil)
- FasaPay and Help2pay (Indonesia, Malaysia, Thailand, Vietnam)
- AdvCash (Europe, Russia, South America)
- UnionPay (China)
The minimum deposit depends on the type of payment and can range from $ 10 to $ 50. But you can trade directly via the ETH wallet.
Now the broker withdraws funds to traders upon request without any problems. The minimum withdrawal amount on Spectre.ai is $ 10. We will update the information and place it into the “scam brokers” category if the situation changes. Transaction processing time usually takes 24 to 48 hours.
Bonuses and Incentive Program
The broker does not offer clients any types of bonuses, including welcome and no deposit bonuses. But Spectre.ai has its own Incentive Program.
SIP is a tournament. The client with the maximum trading volume wins. Each week, the winner receives a withdrawable prize of $ 1,000 and the winner of the year $ 50,000.
So, is it really possible to get money for SIP or is it fake? We have no answer. However, the same traders (if they are not bots) often win.
Spectre Utility Token
Spectre.ai opens up some privileges for the owners of the special Utility Token (SXUT).
They can be purchased on cryptocurrency exchanges and must be kept in your wallet. In fact, the privileges are absolutely not worth purchasing these tokens. You can get a small increase in the number of assets and live support for them. There will also be access to a financial academy soon.
These are almost useless benefits. Thus, the broker wants to attract traders to buy their tokens. But broker needs it more than clients.
Some benefits (spells and enhancements) can be purchased for real money. Spending money on them is also pointless.
They also have a Dividend Token (SXDT) that can be traded on the exchange.
Pros and Cons
Pros
Good average (72-75%) and maximum (up to 90%) profitability.Low spreads from 0.1-0.9 pips
There are 10 unique assets
The minimum trade is only $ 1 and the minimum deposit is $ 10
Good proprietary trading platform (practically without lags and freezes)
Free and unlimited demo account
There are many ways to deposit and withdraw. No commissions.
Cons
Spectre was founded in 2018, it is unregulated and misleading with some statements. It is a low trust broker.There are very few trading assets
No leverage
The unique assets of EPIC and Reverse Futures are extremely dangerous for trading
Low profitability with expiration dates less than 5 minutes
There is no mobile app for iOS
Useless privileges for owning tokens. The motivation program looks fake.
No education and analitycs
Conclusion on the Spectre review
Of course, Spectre doesn’t provide a competitive service for trading digital options and CFDs. The platform is most likely not fraudulent, but the trading conditions are poor.
At first, it seems like the broker is an innovator and provides unique offers to clients. But everything becomes clear with a detailed review of Spectre.ai. In fact, clients don’t receive privileges from these offers, and the broker receives good benefits and profits.
That’s why it is better to choose a trusted and reliable broker to trade digital options and CFDs.
Accepted countries
Spectre accepts traders from Indonesia, UK, India, Brazil, USA, Thailand, Malaysia, South Africa, Zimbabwe, Taiwan, Finland, Russia, Sweden, Norway, Portugal, Italy and many other countries.
The review shows that Spectre.ai is not highly reliable. It is a low trusted broker. To trade binary and digital options, as well as CFD assets, it’s better to choose one of the safer brokers (For example, IQ Option, Binomo or another). Also, Olymp Trade offers excellent conditions for Fixed Time Trades.
Access to the platform is restricted to residents of the following countries: USA, Costa Rica, British Virgin Islands, Saint Vincent and the Grenadines, Iraq, Syria, Somalia, Cayman Islands, Cyprus, Iran, American Samoa, Guam, Venezuela, North Korea, Yemen, Puerto Rico, North Mariana Islands and US Virgin Islands.
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