Specter.ai is a blockchain-based trading platform specializing in binary options. Without requiring any minimum deposit and using crowdsourcing technology, Specter offers a new form of trading without brokers. In our review, we will unzip the login and KYC process, mobile apps, dividend tokens and more.
Specter means Speculative Trading Exchange with Token. The company is owned and operated by Specter Trading Limited, a company registered in Saint Vincent and the Grenadines.
In 2017, the company welcomed investors to participate in its Initial Coin Offering (ICO). Since then, the broker has proven to be popular with the Asian trading community and is now gaining traction in Europe and elsewhere.
The Specter team made the news for its innovative approach to online commerce. Its operating model is centered around a decentralized autonomous liquidity pool (DALP), which is built on the blockchain network Ethereum. The system automatically compares new orders with the order book. If there is no opposite negotiation, the negotiations will be completed against the DALP.
Essentially, Specter uses a system without a broker – not retaining deposits and withdrawals from customers in the traditional sense. Instead, payments and profits flow directly to and from your e-wallet, providing a fast, secure and transparent way to trade online.START RIGHT NOW
Specter-ai Trading Platform
Specter.ai has its own proprietary trading platform. The system is accessible via the web, has a simple login process and the basic features you expect, including graphics ranging from one second to a day, in addition to more than 30 technical indicators.
It does not offer the advanced tools that you would find in products like MetaTrader, however, Specter is bringing MT4 integration to the platform in 2020.
APIs allow traders to build automated trading robots. Developers can extract historical data from the platform and test algorithms in different markets. Automated trading is also available in the Specter demo account.
More than 80 marketable synthetic products are available at Specter.ai Brazil, allowing users to speculate on price movements without having the underlying asset. They are mainly divided between digital binary options and Specter’s own Epochal Price Index Composite (EPIC) contract class.
Digital contracts offer payments of up to 400%, are verified in a second and can be traded in several markets, including forex. EPIC contracts are based on an aggregate of historical market fluctuations and replicate live market conditions. They can be traded like any other asset and are available 24 hours a day.
Specter.ai is also planning to introduce CFDs, stocks and indices on its platform.
Specter.ai Spreads and fees
The spreads on Specter.ai are tight, with some assets even allowing for non-spread entries. Average spreads on major currency pairs are 0.58 pips on EUR / USD and 0.9 pips on GBP / USD. With narrower spreads, traders benefit from higher gain rates as it is easier to achieve profitability. To compensate for this, payments on binary options are lower than at other providers.
This review was pleased to see that Specter.ai does not charge many of the additional fees found at other brokers. For example, there are no downtime fees or commission fees.
Leverage is not available on most assets, except forex, where leverage of up to 40X is available. For traders with minimal capital, this can limit the number and size of positions they can take. However, reduced leverage also helps to limit potential losses.
Specter.ai Mobile apps
Specter.ai has a mobile trading app that is available for download on Android devices. The download link is available on the broker’s home page. The APK app was launched in 2020 and aims to replicate the desktop experience. The login process is smooth, all assets are available and price analysis can be performed.
This review was disappointed to see that there is no mobile app for iOS users. But with the relatively new Android app, we expect the broker to launch an app for iPhone and iPad users in the future.
Specter.ai Deposits and withdrawals
While there is an option to use traditional currencies, Specter.ai does not require accounts to be financed with fiat currencies. Instead, users can trade directly from a digital wallet.
The payment methods available are:
- Bank transfer
- Credit / debit cards
- UnionPay (China)
- Advcash (South America, Russia, Europe)
- FasaPay (Indonesia, Vietnam, Thailand and Malaysia)
- Help2pay (Malaysia, Thailand, Indonesia and Vietnam)
There is no minimum deposit requirement. And because Specter.ai does not hold payments, processing speed depends on the payment provider, but it usually takes up to 24 hours.
A demo account is available at Specter.ai. The practice account simulates real market conditions and offers traders a robust virtual bank to try out the platform and instruments. When users are ready to switch to real money transactions, they can easily do so.OPEN DEMO ACCOUNT
Bonuses and promotions
Since Specter.ai does not require a minimum deposit, it is not surprising that there are no welcome deposit bonuses. But the broker offers other promotions. For example, Specter.ai organizes trading tournaments with prizes up to $ 50,000. Not only is it a great opportunity to get your hands on winnings, it is also a useful way to learn from others.
Regulation and Licensing
Specter.ai is regulated in Saint Vincent and the Grenadines. Users can also be confident that the broker is not a fraud because its operating model ensures that they do not retain the client’s capital. As a result, traders do not need the same assurance from a regulator that an intermediary broker can be trusted to pay profits.
Specter.ai offers additional features that are different from the standard learning resources and forums found in many brokers. While educational tools are useful, the extra features they offer are excellent.
The dividend reward token (SXDT) from Specter.ai is a domestic currency that, if used, gives traders higher payouts, access to more assets and higher trading volumes. Utility tokens can be kept in your digital wallet and are an excellent way to maximize the trading experience. Consult the rewards portal for an analysis of privileges.
Specter Incentive Program
The Specter Incentive Program is a weekly tournament that offers cash prizes to those who accumulate the highest trading volume. $ 1,000 is awarded to the winner each week, while the annual winner wins a $ 50,000 cash prize.
Specter.ai does not offer a range of accounts with scaled benefits depending on the size of your deposit, as the broker does not require a minimum deposit with the standard electronic wallet system. Instead, the accounts are divided into:
- Wallet account – With the standard wallet account, you trade directly from your encrypted wallet. When you remove the intermediary, transactions are processed instantly and free of charge.
- Regular account – Specter.ai users can also opt for a regular account, which is essentially an Ether wallet with a private guarantee. Trades are still confirmed on the blockchain and earnings go directly to your saved Ether wallet, which can then be withdrawn to your private electronic wallet. There is a minimum deposit of $ 10 with the regular account.
There are several advantages to opening an account with Specter.ai:
- Over 80 tradable assets
- Payments of up to 400%
- No minimum deposit
- $ 1 minimum trade size
- Expiration of a second EPIC
- Decentralized liquidity pool
The disadvantages to consider before trading with Specter.ai include:
- Limited educational resources
- No iOS mobile apps
Specter.ai offers trading 24 hours a day, 7 days a week. The opening and closing times follow the respective market opening hours. Trading outside of standard market hours can result in wider spreads.
Customer service representatives at Specter.ai can be accessed by email and live chat:
- Email – email@example.com
- Live chat – accessible in the bottom right corner of the broker’s website
There is also a very comprehensive FAQ section on the website, along with an online consultation form. In addition, Specter.ai’s Medium blog works well as a roadmap for getting the most out of the platform, with tutorials on the platform’s features.
Some user reviews may signal a lack of phone support, but we found that chat support is monitored regularly and able to handle most platform and account queries.
User security in Specter.ai is strong. The website uses encryption to protect personal information. But, crucially, all transactions are settled in a transparent digital ledger, which is aggregated and verified every 24 hours by a growing global network of more than 20,000 nodes.
Specter.ai offers something different – an exclusive EPIC contract class, in addition to standard assets, with no minimum deposits and a transparent blockchain-based trading environment. For traders who want simplicity, security and competitive costs, Specter.ai marks the box.
Specter Accepted Countries
Specter.ai accepts merchants from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.
Traders cannot use Specter.ai from the United States, Venezuela, Iran, Vanuatu, Cayman Islands, Virgin Islands, United Kingdom, Costa Rica, Korea, Syria, Somalia, Yemen.
Specter Frequently Asked Questions
What is Specter.ai?
Specter is an online binary options broker built on a blockchain system that allows users to trade directly with the market. Instead of acting as an intermediary, payments flow directly to and from your electronic wallet.
Does Specter.ai have a mobile app?
Specter.ai has a mobile app compatible with Android devices. It can be downloaded from the broker’s website. The application allows users to manage business operations from a mobile device, including depositing funds and withdrawing returns.
What assets can I trade on Specter.ai?
Specter specializes in binary options and its exclusive contracting class – EPIC, which is built on historical aggregate market movements that reproduce live trading conditions.
How much money do I need to trade on Specter.ai?
There is no minimum deposit at Specter.ai. However, the minimum trading size on the platform is $ 1.
What is blockchain and how does Specter.ai interact with it?
The blockchain is a decentralized ledger that verifies transactions transparently through a global network of nodes. The blockchain allows transactions to be processed directly between the market and the user’s electronic wallet. The decentralized system of Specter.ai is built on the Ethereum blockchain.FREE REGISTRATION