What is Spectre.ai?
Spectre.ai is an acronym for Speculative Tokenized Trading Exchange. Definition aside, as you’ll learn in this Spectre.ai review, Spectre.ai is a revolutionary provider of smart options and – soon – CFD and FX trading too. It marries off Ethereum blockchain smart contracts with digital derivative trading as well as classic forex trading down the road.
Fraud-free and broker-free: The Spectre.ai platform is the world’s first financial trading platform free of any broker involvement. Spectre.ai enables users to trade directly against the financial markets without any intermediary broker involvement. Using advanced and developed Ethereum blockchain technology, the Spectre.ai platform matches traders against a decentralized autonomous liquidity pool (DALP) or it matches against other traders on the Spectre network. The easy to use market predication platform provides 24-hour liquidity and ensures there is no opportunity whatsoever for fraudulent broker activity, making it a trustworthy and worry-free platform.
How Does Spectre.ai Work?
As its first step towards changing the face of financial trading, Spectre.ai looks to eliminate the broker. How so? By taking advantage of the robustness and decentralized nature of Ethereum blockchain, Spectre.ai ensures all the loopholes for broker fraud are well and truly closed. Even better, the platform held a successful ICO which gave birth to Spectre tokens which can also come handy for those who are looking to invest in an altcoin.
The manner in which Spectre.ai deal with fraud is beautifully easy and straightforward. Instead of being a brokerage, the platform maintains the service as a ‘tech provider’. Spectre does something remarkable; it relinquishes the control of its liquidity pool that sits on top of the Ethereum blockchain, established via an ICO. All ETH entering and leaving the pool is controlled by auditable and verifiable smart contracts.
The price feed utilized by the Spectre.ai market prediction platform comes from reliable and trusted sources that are frequently audited. No one or entity has any control over the actual price making either (other than the above-said sources) so that’s yet another potential problem taken out of the process.
The trader controls the exact sum of ETH they use for trading. There are two types of real money trading accounts on Spectre.ai. With the “Wallet” account, there’s no need to make deposits or withdrawals. All monies are handled straight from the user’s own crypto wallet. All the winnings automatically get placed in the wallet as well. Smart contracts handle all this operation too, completely taking out the human elements entirely. Taking out the need to make deposits and withdrawals, also means taking out the problems associated with these financial manoeuvres from the whole process.
The other option is a “Regular” account, where the trader places at least $10 worth of ETH to a private-escrowed Ethereum wallet in order to trade. All trades are still confirmed through the blockchain and so they can’t be manipulated. Withdrawals are instant from the private-escrowed Ethereum wallet to the trader’s personal ethereum wallet.
It is also possible for currency conversion between fiat and crypto on the platform using CASET (Creation of Account, Storage, Exchange & Transaction Mechanism) in partnership with Uphold.
There are three separate modes of trading on Spectre.ai:
Smart Options – Spectre offers high reward (and similarly high risk) smart options that earn you between 75% and 90% payout. When it comes to smart options, traders have a broad range of asset classes, varying from commodities like gold and silver to regular currency pairs and cryptos.
Smart CFDs – Here’s where Spectre truly brings out its A-game. Since there’s no central control of the liquidity pool, traders will soon be able to trade in a wide variety of CFDs without the worry of time constraints. The platform allows you to set your take stop loss and profit levels before putting in your money.
A-Book Trading – Whilst not yet available, with this forthcoming addition to Spectre, A-book trading will be traded in a much similar way to CFDs. how so? The traders can trade between both equity and FX assets. In divergence, away from its smart contract-based model, Spectre connects to an A-book platform using fiat currency.
There are a huge amount of excellent platform features, which include:
1. Charting Tools and Indicators
2. In-platform trading calendar and news alerts
3. Built-in in-depth analytics
4. Trade Ideas and alerts
5. Pending Orders
6. Emotion control – a unique and outstanding feature is the emotion control/risk control settings which can be set up by each trader to help prevent over-trading and reduce the risk of losses
Spectre.ai Token Structure
Spectre.ai has two different types of tokens – Reward (the D-token) and Utility (the U-token).
A fee of 2% is distributed amongst ICO token holders for each executed trade. The 2% fees are distributed between ICO token holders who have chosen to receive the reward token (SXDT). This reward token pays out a profit based on volume where the ICO investors can receive their dividends on both a weekly and yearly basis.
Utility token (SXUT) investors can receive many in-platform benefits. These include higher trade payouts, all expiries on smart options, access to all assets and investment indicators, exotic contracts, more liquidity and the opportunity to learn from the educational program that Spectre.ai provides. The big disadvantage of the utility token is that it doesn’t get to enjoy any of the profits that the rewards tokens benefit from.
- Easy to use trading platform which eliminates both fraud and market manipulation
- Unlimited free demo account for those who wish to gain experience in online trading
- No deposit required
- Emotion control and risk management to limit trader’s losses
- Ability to track a user’s stats (monitoring strengths and weaknesses) over time
- Instant withdrawals with no fees
- Licensed and regulated in Costa Rica so not affected by ESMA ban in the EU
- Ethereum wallet required for trading (although in-platform currency conversion between fiat and crypto coming soon)
- Not as straightforward to begin trading as traditional online trading platforms
Spectre.ai Review Conclusion
Spectre.ai truly takes brokers out of the equation. For the safest, most transparent way to trade online, this is nothing short of a dream come true. Early feedback shows that traders are more than satisfied with the decentralized model, love the user-friendly, fast and professional UI and feel safe trading. Spectre is the platform loved by traders, hated by brokers, and despised by scammers. Here at CoinDummies, we love it!
Spectre.ai’s financial model is geared towards that by the end of 2020 the dividend paid per token will work out to be $0.31, and higher than $5 in a decade’s time. The project itself has received lots of plaudits, gained a good reputation and has got off to a great start since its launch. It is fair to say that Spectre.ai is changing how FX, binary options, and CFDs will be traded now and in the future.
At the moment, Spectre.ai is the best price predication platform in the marketplace. Great platform, great product and led by an experienced and knowledgeable team that can be proud of what Spectre.ai has achieved in just a short space of time.
Spectre.ai Review Rating
- Platform – 4.5 / 5
- Ease of use – 4.5 / 5
- Unique Features – 5 / 5
- Financial Model – 5 / 5
- Team – 5 / 5
Overall Spectre.ai Review Rating– 4.8 out of 5