Full Review of Spectre.ai: Low-Risk, (Decentralized) BrokerVerified broker

Full Review of Spectre.ai: Low-Risk, (Decentralized) Broker title=
4.1/5
Bernard Baruch once said, "In trading, it's not about how much you make, but how much you don’t lose." There are a lot of trading platforms out there today, but how many of them care about your profits? Most of these platforms are just after your funds and do not care much if you’re losing.
Min. deposit
$0
Demo account
Yes
Currency
EURGBPUSD
Supported languages
Eng
Active
Yes
Payment Methods
ADVcashBitcoin PaymentsBoletoCredit CardDebit CardEthereum PaymentsFasaPayFinraxNetellerPaysafecardPerfect MoneyPIX PaymentSkrillUnionPayVisaWire Transfer
Instruments
binary optionsCFDCommoditiesCryptoEPICForexReverse Futuresshares
Min. trade price
$1
Regulated By
St. Vincent and the Grenadines
MetaTrader 4
No
MetaTrader 5
No
cTrader
No
OmniTrader
No
AlgoTrader
No
TradingView
No
Trading Central
No
Autochartist
No
eSignal
No
STP Account
No
ECN Account
No
DMA Account
No
MAM Account
No
PAMM Account
No
LAMM Account
No
Demat Account
No
Mobile Apps
Yes
Margin Trading
Yes
Volatility Index
No
Spot Trading
No
Perpetual Swaps
No
ELWs
No
REITs
No
AI / Machine Learning
No
Robo Advisor
No
P2P Trading
No
Negative Balance Protection
No
VPS Hosting
No
Tournaments
Yes
Demo Competitions
No
Managed Accounts
No
Market Maker
No
Auto Trading
Yes
Social Trading
No
Copy Trading
No
Trade Signals
No
Islamic Account
Yes
Inactivity Fee
0
Guaranteed Stop Loss
No
Stock Exchanges
NasdaqNew York Stock Exchange
Commodities
GoldSilver
Forex Trading
Forex trading is available on major, minor and exotic currency pairs
Forex GBPUSD Spread
0.90
Forex EURUSD Spread
0.58
Forex EURGBP Spread
0.90
Forex Assets
20
Crypto Spread
Variable
Crypto Lending
No
Crypto Staking
No
Crypto Mining
No
Crypto Auto Market Maker
No
Crypto Coins
AAVE, AVAX, BCH, BNT, BTC, CAKE, COMP, DSH, ETH, FTM, LINK, LTC, MKR, REN, RUNE, SNX, SUSHI, TERRA, UMA, UNI, YFI, ZRX
Binary Options
Spectre.ai offers binary options trading on multiple markets with a $0 starting deposit and payouts up to 400%.
Expiry Times
1 second - 1 day
Ladder Options
No
Boundary Options
No
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* The amount that will be credited to the account in the case of a successful deal

*General Risk Warning: Your capital might be at risk

Trustpilot Real Time Reviews

Star

The Trustpilot rating is 4.1,
according to 199 reviews

4.5 Stars
Esmer
Esmer
stars
ph
Spectre.ai has become my go-to trading platform for several reasons. Firstly, the low spreads offered by the platform make it an attractive option for anyone seeking cost-effective trading. Additionally, the platform's flexibility is unparalleled, with no limits on the minimum amount for withdrawing funds. This means that I can withdraw even small amounts, such as $1, without any issues. Moreover, I appreciate that Spectre.ai charges reasonable fees for their services, which means that I am not losing a significant portion of my profits to fees. Overall, I find Spectre.ai to be a highly reliable and affordable platform that meets all my trading needs, and a cost-effective trading experience.

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fulan
fulan
stars
id
as and avid crypto trader looking to make most out of my weekends, I stumbled upon Specter's trading platform. However, to my pleasant suprise, I discovered that the platform offers more than just weekend crypto trading.

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wing valeros
wing valeros
stars
ph
Initially, I struggled to grasp some of the platform's features, but the customer support team was patient and took the time to walk me through everything I needed to know. Since then, whenever I have had questions, they have been quick to respond and provide me with the assistance I need to get back on track.

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customer
customer
stars
ph
After trading with Spectre for about a month, I must say that I am thoroughly impressed with their platform. The variety of assets, spreads , and expiry times offered by Spectre make it a versatile for traders of all levels. As a beginner, I find the user interface to be intuitive and easy to navigate, which has made my trading experiences seamless and enjoyable.

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Robert
Robert
stars
rs
Great feature is customizable leverage settings,which allows me to adjust by trading leverage based on my risk tolerance and trading strategy.This gives me greater control over my trades and helps me manage my risk more effectively.

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cuarberstomer
cuarberstomer
stars
xk
To protect my balance form extreme drawdowns,I use the capital protection feature. However,its worth noting that when using this feature,the potential payout is reduced.Nevertheless this is good for my risk management.

View all

Content

Bernard Baruch once said, “In trading, it’s not about how much you make, but how much you don’t lose.” There are a lot of trading platforms out there today, but how many of them care about your profits? Most of these platforms are just after your funds and do not care much if you’re losing.

Most of these platforms

I went through a slew of forex trading platforms before coming across this blockchain-powered option, Spectre.ai. I desired a trading platform that could help me make better profits, and that’s what I found with this broker.

Most people know this platform for its connection to the blockchain and not much else. I took several days to use this platform and test it to its limits, so I could share with you all the ins and outs you need to know about this online broker.

Pros and Cons

If you want to use this forex trading platform, you need to understand a few things about it. Some of the advantages and disadvantages I picked up from trading with Spectre.ai are shown below.

Pros

  • Fast deposit and withdrawal speeds
  • Support for trading with cryptocurrency
  • Low floating spreads on many trading pairs and financial markets
  • Reliable security features
  • Demo account is available to practice trading

Cons

  • Some trading indicators are unavailable on the platform
  • Customer support number isn’t toll-free
  • Maximum leverage is 1:40

What is Spectre.ai?

What is Spectre.ai?

Founded in 2019, Spectre.ai is a trading platform that allows high-frequency trading with few risks. This means that you can complete transactions multiple times with little risk on your end.

This platform gives you the opportunity to earn up to a 100% return on investment, or 73% on average.

100% return on investment

The Spectre.ai trading platform makes this happen using its cutting-edge technology. This trading platform matches traders on the platform using its in-built liquidity pool, which makes exchanges easier. With this setup, cryptocurrency trading on Spectre.ai offers no opportunity for fraud.

I also noted that the interface of this decentralized platform is user-friendly. It was easy to get started and navigate around the features.

Further reading

Features of Spectre.ai

Features of Spectre.ai

If you’re going to be using the Spectre.ai trading platform, you need to know what you’re getting into. Below are some of the range of features that I feel define this trading platform.

No Middle Man

Trades on the Spectre.ai platform occur through their liquidity pool — it’s trader against trader, with no online broker acting as the middleman. This makes Spectre.ai one of the best decentralized exchanges, because this format ensures transparent trades.

The trades on this platform are conducted through the use of secure smart contracts that reside on a blockchain. This independent smart contract runs the trade on the platform and takes care of all outcomes and payouts.

No Deposits Required

Most trading platforms today do not require any money to open an account with them. Before you can actually start trading, however, most of these platforms require a minimum deposit on the platform. I noticed that this cryptocurrency Spectre.ai platform does things differently, as you can trade directly from your cryptocurrency wallet.

If you don’t own a wallet, you can also trade through a secure portal that serves the same purpose. I found this to be quite a wonderful feature for security-conscious individuals who may not yet feel comfortable depositing into the platform itself.

If you’re looking for a catch here, there’s none, as Spectre.ai doesn’t earn from trader losses. Rather, this platform earns from the volume-based technology fee that most people pay when they trade.

Transparent Audit Verification

All financial businesses and trading platforms that deal with public funds have to go through an audit process. This audit process occurs at least once a year, and it checks the assets in the company’s records. This determines whether the assets and liabilities claimed by the company exist.

Financial traders steer clear of companies that don’t audit their records, as it means that the company could be lying to investors. The Spectre.ai platform uses a state-of-the-art audit process that checks its records after every transaction or within 24 hours.

All transactions on this decentralized finance platform are mined and settled on a digital ledger, after which, they are sent to a public ledger for verification. This makes it a globally-based audit trail with over 20,000 processing nodes.

Spectre.ai is Sharia-Compliant

Customers who are followers of Islam often have trouble finding a broker that can meet their needs. Islam is against all forms of business and trade that involve the payment of interest — including taking loans from banks, offering loans to companies, or paying a minimum deposit to a trading platform online.

The Spectre.ai trading platform is halal, as it doesn’t request a minimum deposit of any kind. Its trading processes are fair, transparent, and involve no hidden costs, which makes them Sharia-compliant. These conditions are available to all clients, not just Muslims.

Unique Contracts

I noticed that apart from the typical commodities traded on forex trading platforms, like cash, Spectre.ai also trades digital contracts. Digital contracts are a new trading commodity that can offer payouts of up to 400% within seconds.

The Spectre.ai trading process also allows customers to trade these digital contracts on a variety of traditional assets, like currency pairs.

Numerous Assets

When I used my Spectre.ai login, I gained access to the various digital assets on the platform. These ranged from bonds, stocks, ETFs, Epic, and indices to Contracts for Difference (CFDs) and digital contracts.

Further reading

Types of Spectre.ai Accounts

Types of Spectre.ai Accounts

Next, let’s discuss the different account types available on Spectre.ai.

Types of Spectre.ai Accounts

There are two types of accounts on the Spectre.ai platform:

  • Wallet Account
  • Regular Account

Wallet Account

Wallet Account

The Spectre.ai wallet account is a unique trading account that doesn’t require deposits or withdrawals to trade. This means that there are no minimum deposits required to start trading on the account.

This account allows Spectre.ai investors to trade directly from their crypto wallets. As such, it’s a direct exchange between the client and the crypto market, with no intermediary broker.

That means when you succeed in making a trade, the money gets transferred directly to your wallet. If you lose a trade, the money gets withdrawn from your wallet as well. There is no minimum deposit required for this account, making it a suitable Islamic Account.

The minimum trade size that I could make on this platform is worth $50. The transaction fees for this account are gas fees to cover movement of the funds. Since these transactions are conducted on a blockchain, the resulting transaction fees are very low.

Regular Account

Regular Account

This Spectre.ai regular account is just like your typical trading account, so it requires a minimum deposit to start trading. Since Spectre.ai is a crypto platform at heart, the regular account also works with the blockchain.

This account is connected to an escrowed Ethereum wallet where all deposits are made. As all transactions are confirmed on the blockchain, this process is safe. The transaction fees on this account mirror the Ethereum gas fees required for those transactions.

Further reading

Deposits and Withdrawals on Spectre.ai

Deposits and Withdrawals on Spectre.ai

Unless you’re using a wallet account, the Spectre.ai minimum deposit to start trading is the Ether equivalent of $10. If you’re using a wallet account, you’ll need to connect your Ethereum wallet to the platform to start trading.

Apart from ETH, I saw that you can make your deposits in other popular cryptocurrencies as well, like BAND, USDC, PAX, KNC, and SNX.

Although the Spectre.ai platform caters primarily to the crypto crowd, this doesn’t mean regular fiat trading won’t work. A wide range of credit and debit cards are accepted on this platform. I recognized a variety of well-known deposit methods while making deposits, such as:

  • UnionPay
  • Ether
  • Fasapay
  • Skrill
  • Neteller
  • PaySafeCard
  • Help2Pay
  • UpHold

One thing I noticed is that the withdrawal method for Spectre.ai differs from other forex trading platforms. You can take money out of this platform using the Spectre.ai wallet or a separate digital wallet linked to the platform.

Withdrawals through a standalone digital wallet are faster, as the Spectre.ai wallet may take 24 hours to process a transaction. However, the supported regular payment methods also worked fine when I used them to withdraw funds.

Spectre.ai Fees

Although this platform accepts no commission when you trade, they do have trading fees for using their services. The Spectre.ai projection for average forex spreads is 0.9 pips on GBP/USD and 0.58 pips on EUR/USD. The CFDs which come with zero leverage charge a 0.1 pip daily fee on open positions.

Spectre.ai Leverage

As a crypto platform, Spectre.ai doesn’t have leverage on most assets. However, the leverage trading in forex can reach 1:40.

Further reading

Instruments on Spectre.ai

Instruments on Spectre.ai

“The stock market is filled with individuals who know the price of everything, but the value of nothing.” Spoken by Philip Fisher, these wise words speak to the immeasurable value of the righr trading instrument.

Fortunately, Spectre.ai didn’t let me down in this area as I had access to various instruments, including:

  • Forex
  • Equities
  • Commodities
  • Crypto Assets
  • EPICs
  • Reverse Futures

Customer Support Channels on Spectre.ai

A Spectre.ai review won’t be complete without the customer support channels of the platform. Although this platform has no telephone support, you can reach customer care representatives through:

Among these customer support methods, their live chat is a faster method for getting in contact with staff. When I used it, I only had to wait a few minutes before a customer support staff started attending to me.

Further reading

Training

Training

All newbies should first look for training materials when they visit a new trading platform. I did the same and I found no training materials you might find on other platforms, like educational videos or blog posts.

The training feature offered by Spectre.ai is its demo account. The demo account offers a risk-free trading environment where you can try all your new trading strategies. While this platform doesn’t actively teach forex trading, it provides an environment to practice it.

Security

Security on the Spectre.ai platform is assured through smart contracts, which eliminates the middleman. The smart contracts reside on a blockchain, and blockchains are some of the safest security solutions on the internet. With the trading volumes on this platform, this security service is just enough.

security service is just enough

As a transparent ledger, all transactions done on the blockchain are visible to all parties. No one can change a transaction once it has gone through — not even the trading platform itself.

Further reading

Regulation on Spectre.ai

Regulation on Spectre.ai

Spectre.ai is an offshore broker, but before your alarm bells go off, you should also know that they’re a licenced platform.

This platform is regulated as an international business company in St. Vincent and the Grenadines. They are also licenced through Costa Media Interactive SRL, which is based in Costa Rica.

However, these licenses do not provide the same level of protection as the “gold standard” regulatory agencies which provide a secure level of oversight, so traders should still proceed with caution.

Spectre.ai Demo Account

The Spectre.ai demo account is a special account that’s available on all major account types. This account allowed me to trade for free with no required deposits and access to unlimited funds. I was able to easily replenish my funds to keep practicing.

This allowed me to experience all that a real trading environment has to offer in a risk-free manner. Apart from new users, the Spectre.ai demo account also caters to the needs of advanced traders. It provides a safe environment for advanced traders to practice new skills and perfect them at no cost.

Further reading

Spectre.ai Mobile App

Spectre.ai Mobile App

I am happy to tell you that there’s a Spectre.ai app. For people like me who would like to trade conveniently on the go, this was a must-have.

This app allows you to use the services of this trading platform on your Android device. You can download this mobile trading app on the Spectre.ai platform.

You’ll see the download button at the top of the main page. While this was a welcome advantage, I noticed that there is no mobile trading app available for iOS users at this time.

Spectre.ai Utility Tokens

The Spectre.ai utility token (SXUT) is a digital coin that grants privileges to active traders who use it on this decentralized trading platform. This Spectre.ai utility token offers access to a wide range of assets, more than the average user. It offers access to more crypto assets, higher trading sizes, and many other benefits.

Further reading
FAQ

FAQ

How Can I Get a Spectre.ai Dividend?

You can get the Spectre.ai dividend coin by visiting a crypto exchange that has this coin listed. There, you can either exchange for it with other cryptocurrencies or purchase it with fiat currency.

What Does Spectre.ai Offer for Trades?

Spectre.ai offers access to a variety of instruments, such as CFDs, forex, binary options, commodities, reverse futures, and equities. Crypto traders can also trade cryptocurrency, just like when they visit cryptocurrency exchanges.

What Is the Web Address for the Spectre.ai Trading Platform?

The web address for the Spectre.ai trading platform is https://www.spectre.ai/en/.

Where Is Spectre.ai Based?

Spectre.ai is based in the Cayman Islands, in Grand Cayman.

When Did the Spectre.ai Coin Get Listed on the Exchange?

The Spectre.ai coins (SXUT and SXDT) have been listed on crypto exchanges since 2019.

What Is the Correct Spectre.ai Dividend Token?

The correct Spectre.ai dividend token is the SXDT, not the SXUT as most people think.

How to Use SXUT on spectre.ai?

You can use the Spectre.ai token by transferring it to your crypto wallet. After which, you can use the token to trade on the platform.

Does Spectre.ai Charge Fees for Inactive Accounts?

No, Spectre.ai does not charge fees for inactive accounts.

Does Spectre.ai Have a Transaction Fee?

No, Spectre.ai doesn’t charge for using the payment methods on their platform. However, some payment systems may levy their own fees, so check with your payment method provider.

Conclusion

Spectre.ai is a cryptocurrency trading platform that enables modern asset trading. It offers top-notch security, is compliant with Sharia law, and also allows people to trade without any deposits. Although this platform is not regulated by other external authorities, it was created using blockchain technology, which is reliable.

Further reading