Spectre.ai, the world’s first broker-less trading platform, today announced that the beta-testing of the platform has now come to an end. As part of the ramp-up, Spectre’s financial trading platform went live in private-beta mode (real money) on midnight of March 31, 2018, for the entire month of April. Platform access was limited to only 100 traders as part of this invite-only private beta ‘stress-test’ with real money and trading conditions across cryptos, FX currency pairs, and commodities such as gold and silver for this first month.
From these 100 beta testers, 35 traded actively during the month of April which represents a 35% conversion rate from user to active trader (the industry average is 20 to 25%, so we are optimistic with this outcome). The total trading volume was over 230 ETH, equivalent to approximately $5,000 USD per trader ($230 — $280 per day per trader in volume).
We also ran a trading contest during this beta phase, whereby we offered the trader that traded the highest volume (of live Ethereum) a reward of $5,000. This contest was received extremely well and we are happy to announce that the winner of this contest is Sehan Withanachchi from Australia, who generated a trading volume of 80 ETH.
Speaking to Ian Buck, Spectre’s Head of Investor Relations, Sehan said: “I have been trading since 2013 and I have always traded binary options. I had bad experiences with a lot of these binary brokers; sometimes I didn’t get any of my winnings because those centralised scam brokers will find almost any excuse to not pay, and those that did pay took 1 to 2 weeks to process a withdrawal”.
When asked what he particularly likes about trading on the Spectre platform, Sehan continued: “I like Spectre because it’s a decentralised broker-less platform on top of the Ethereum blockchain where traders trade against the decentralised autonomous liquidity pool (DALP). So I therefore don’t have to deposit my money with Spectre and withdrawals are instant and available at any time. I also really like the Risk Management option, as sometimes it’s hard to maintain emotional discipline while trading”.
Sehan generated the high trading volume on Spectre by trading support/resistance with higher time frames. This is his preferred trading strategy, and he often trades 4 to 5 hours per day. He concluded his conversation with Ian explaining: “I used to do $50–100K volume easily every month, but now I’m trying not to over-trade and have a higher winning percentage instead”.
The entire Spectre team congratulate Sehan on winning this reward.
Spectre.ai is the world’s first broker-less financial trading platform that uses Ethereum smart contracts to remove the broker out of the picture entirely, thereby disrupting the current online trading model and empowering the trader. It allows for fraud-free retail financial trading of Smart Options and Smart CFDs. Spectre.ai’s liquidity pool is owned by token holders who initially invested in the token-sale and therefore own a part of Spectre.ai’s profitability, into perpetuity. Tokens are publicly traded on crypto-currency exchanges and thus can be held by anyone.
The Spectre.ai trading platform is now open to the public, but with the following GEO restrictions: USA, Costa Rica, BVI, Caymans, Iran, Venzeula, Syria, Somalia, North Korea and Yemen.