Spectre.ai Review 2022

3.3
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Spectre.ai is a blockchain-based binary options broker

InstrumentsShares, Reverse Futures, Crypto, Forex, Commodities, Binary options, EPIC
Demo AccountYes
Min. Deposit$0
Payment Methods
Min. Trade$1
Regulated BySt. Vincent and the Grenadines
MetaTrader 4No
MetaTrader 5No
cTraderNo
OmniTraderNo
AlgoTraderNo
TradingViewNo
Trading CentralNo
AutochartistNo
eSignalNo
STP AccountNo
ECN AccountNo
DMA AccountNo
MAM AccountNo
PAMM AccountNo
LAMM AccountNo
Demat AccountNo
Mobile AppsYes
Margin TradingYes
Volatility IndexNo
Spot TradingYes
Perpetual SwapsNo
ELWsNo
REITsNo
AI / Machine LearningNo
Robo AdvisorNo
P2P TradingNo
Negative Balance ProtectionNo
VPS HostingNo
TournamentsYes
Demo CompetitionsNo
Managed AccountsNo
Market MakerNo
Auto TradingYes - through APIs
Social TradingNo
Copy TradingNo
Islamic AccountYes
Account Currencies
  • USD
  • EUR
  • GBP
Inactivity Fee0
Guaranteed Stop LossNo
Commodities
  • Gold
  • Silver
CFD TradingZero Leverage Digital CFDs have a daily fee of approx. 1 pip and forex CFDs leverage up to 1:40
CFD FTSE SpreadN/A
CFD GBPUSD Spread0.9
CFD Oil SpreadN/A
CFD Stocks SpreadVariable
CFD Leverage1:40
Forex TradingForex trading is available on major, minor and exotic currency pairs
Forex GBPUSD Spread0.90
Forex EURUSD Spread0.58
Forex EURGBP Spread0.90
Forex Assets18
Crypto TradingTrade some of the most well-known cryptos, including Bitcoin, Ethereum, and Litecoin
Crypto SpreadVariable
Crypto LendingNo
Crypto StakingNo
Crypto MiningNo
Crypto Auto Market MakerNo
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 OptionsSpectre.ai offers binary options trading on multiple markets with a $0 starting deposit and payouts up to 400%.
Payout Percent400%
Expiry Times1 minute - 1 day
Ladder OptionsNo
Boundary OptionsNo
Risk Warning – Your capital is at risk

Spectre.ai is a blockchain-based trading platform specializing in binary options. Requiring no minimum deposit and using crowd-sourced technology, Spectre offers a new form of broker-less trading. In our 2022 review, we unpack the login and KYC process, mobile apps, dividend tokens, and more.

Spectre.ai Overview

Spectre stands for Speculative Tokenized Trading Exchange. The company is owned and operated by Spectre Trading Limited, a company registered in St. Vincent and the Grenadines.

In 2017, the company welcomed investors to participate in its Initial Coin Offering (ICO). The broker has since proven popular among the Asian trading community and is now gaining traction in Europe and beyond.

The Spectre team has made the news for their innovative approach to online trading. Their operating model is centered around a decentralized autonomous liquidity pool (DALP) built onto the Ethereum blockchain network. The system automatically matches new orders against the order book. If there is no opposing trade, then trades are filled against the DALP.

Essentially, Spectre uses a broker-less model – not holding customer deposits and withdrawals 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.

Trading Platform

Spectre.ai has a proprietary trading platform. The system is web-accessible, has a straightforward login process, and the basic features you’d expect, including charts ranging from one second up to one day, plus over 30 technical indicators.

It doesn’t offer the advanced tools you’d find on the likes of MetaTrader. However, Spectre is bringing MT4/MT5 integration to the platform in the near future.

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 on the Spectre demo account.

Spectre.ai web trading platform
Spectre trading platform

Spectre also made upgrades to its trading platform in 2022. The latest terminal offers a faster and more reliable trading experience with user-friendly navigation, intuitive menus and interactive charting.

Assets

Over 80 synthetic tradable products are available at Spectre.ai, allowing users to speculate on price movements without owning the underlying asset. They are split primarily between digital binary options and Spectre’s own Epochal Price Index Composite (EPIC) contract class.

Digital contracts offer payouts of up to 400%, are verified in a second and can be traded in multiple 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 around the clock.

Spectre.ai is also continuously introducing more cryptocurrencies and DeFi coins to the list of available assets. New cryptocurrencies are essentially soft launched on the broker’s demo account and are available 24/7 with up to 90% returns and near zero-pip spreads. Note, cryptos are not available to UK clients in line with FCA regulations.

A generous list of equities has also recently been added, including in manufacturing, technology, software, gaming and entertainment. This brings the full list of stocks to more than 100.

Spreads & Fees

Spreads at Spectre.ai are tight, with some assets even allowing spread-free entries. Average spreads on major forex pairs are 0.58 pips on the EUR/USD and 0.9 pips on the GBP/USD. With tighter spreads, traders benefit from higher win rates as it is easier to reach profitability. To compensate for that, payouts on binary options are lower than at other providers. Zero Leverage Digital CFDs also have a daily fee of 1 pip on open positions.

This review was pleased to see Spectre.ai doesn’t charge many of the additional fees found at other brokers. For example, there are no inactivity fees or commission charges.

Spectre.ai Leverage

Leverage is unavailable on most assets, except for forex, where up to 1:40 leverage is available. For traders with minimal capital, this may limit the number and size of positions they can take. However, reduced leverage also helps to limit potential losses.

Mobile Apps

Spectre.ai has a mobile trading app available to download for both Android and iOS. The APK application aims to replicate the desktop experience. The login process is smooth, all assets are available, and price analysis can be conducted.

This review was disappointed to see the app isn’t available to download from Apple or Google Play stores. Instead, traders must use the link provided on the main website. However, it is possible to use it on your iPhone, iPad, and Android devices.

Deposits & Withdrawals

While there is the option to use traditional currencies, Spectre.ai doesn’t require accounts to be funded with fiat currencies. Instead, users can trade directly from a digital wallet.

Payments methods available include:

There is also the option of a DeFi Wallet, with it you can make deposits and withdrawals. The coins supported are SNX, KNC, BAND, LINK, USDC, and PAX. In the coming months, Spectre plans to add more tokens, including their very own SXDT and SXUT.

Spectre.ai also introduced a string of local payment solutions in 2022. For traders in Brazil, CuboPay is now available, offering fiat and crypto deposits and withdrawals. For Indian clients, UPI, Netbank, Paytm, JioPay and PhonePe are also available.

For Wallet accounts:

For Regular accounts:

As Spectre.ai doesn’t hold payments, processing speeds depend on the payment provider, but usually take up to 48 hours. Wire transfers and cards take a few days.

The broker doesn’t charge for withdrawals, but your payment method might. It is best to check their transaction policies.

spectre ai payment methods

Demo Account

A demo account is available at Spectre.ai. The practice account simulates real-market conditions and offers traders a hefty virtual bankroll to sample the platform and instruments. When users are ready to switch to real-money trading, they can easily do so.

Bonuses & Promotions

With Spectre.ai not requiring a minimum deposit, it’s unsurprising there aren’t welcome deposit bonuses. But the broker does offer other promotions. For example, the brokerage runs trading tournaments with prizes up to $50,000. These are an excellent opportunity to get your hands on winnings, but they’re also a helpful way to learn from established investors.

Regulation & Licensing

Spectre.ai is regulated in St. Vincent and the Grenadines. Users can trust that the broker isn’t a scam because their operating model ensures they don’t hold customer capital in the traditional sense. As a result, traders don’t need the same reassurance from a regulator that an intermediary broker can be trusted to pay out profits.

Additional Features

Spectre.ai doesn’t offer different additional features like the standard learning resources and forums found at many online brokers. While educational tools would be helpful, the extra features they do offer are excellent:

U-Token Rewards

Spectre.ai’s dividend reward token (SXDT) is an internal currency that gives traders higher payouts, access to more assets, and increased trade sizes. Utility tokens can be held in your digital wallet and are an excellent way to maximize the trading experience. See the rewards portal for a breakdown of privileges.

Spectre Incentive Program

The Incentive Program is a weekly tournament offering cash prizes to those that accumulate the most trading volumes. $1,000 is awarded to each week’s winner, while the annual winner picks up a $50,000 cash prize.

Live Accounts

Spectre.ai doesn’t offer a range of accounts with staggered benefits depending on the size of your deposit, as the broker doesn’t require a minimum deposit with the standard e-wallet system. Instead, accounts are split into:

Benefits

There are several advantages to opening an account with Spectre.ai:

Drawbacks

Drawbacks to consider before trading with Spectre.ai include:

Trading Hours

Spectre.ai offers 24/7 trading. Opening and closing times follow respective market operating hours. Trading outside of standard market hours may result in wider spreads.

Customer Support

Customer service representatives at Spectre.ai are accessible through email and live chat:

There is also a fairly comprehensive FAQ section on the website, along with an online query form. In addition, Spectre.ai’s Medium blog works well as a roadmap to getting the most out of the platform, with tutorials on platform features.

Some user reviews may flag the lack of telephone support, but we found the chat support is monitored regularly and able to deal with the majority of platform and account queries.

For the latest Spectre.ai news, keep an eye on the broker’s social media channels:

Security

User security at Spectre.ai is strong. The website uses encryption to secure personal information. Crucially, all transactions are settled on a transparent digital ledger, which is aggregated and verified every 24 hours by a growing global network of 20,000+ nodes.

Spectre.ai Verdict

Spectre.ai offers something different – a unique EPIC contract class in addition to standard assets, plus no minimum deposits and a transparent blockchain-based trading environment. For traders wanting simplicity, security, and competitive costs, Spectre.ai ticks the box.

Accepted Countries

Spectre.ai accepts traders 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 can not use Spectre.ai from United States, Venezuela, Iran, Vanuatu, Cayman Islands, Virgin Islands, British, Costa Rica, Korea, Syria, Somalia, Yemen.

Compare Spectre.ai

Compare Spectre.ai with similar brokers that accept traders from your location. Among available brokers these are the most similar to Spectre.ai:

  1. World Forex – World Forex offers commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
  2. InstaForex – InstaForex is a CFD broker providing access to forex, stocks, cryptocurrencies, commodities, energies, indices, and more. With competitive fees and a huge range of available assets, the brand offers safe and reliable trading.
  3. Quotex – Quotex offers a proprietary web platform that has digital options and trading signals.
  4. Pocket Option – Pocket Option is a global binary options broker with a sleek proprietary trading platform and competitive range of assets.

Spectre.ai Comparison Table

Compare Spectre.ai With Similar Brokers
Spectre.ai World Forex InstaForex Quotex Pocket Option
Rating 3.3 4.1 4.4 4.2
Markets Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Forex, Stocks, Commodities, Crypto Stocks, Commodities, Crypto
Demo Account Yes Yes Yes Yes Yes
Minimum Deposit $0 $1 $/€1 $10 $50
Minimum Trade $1 0.01 Lots 0.01 Lots $1 $1
Regulators St. Vincent and the Grenadines SVGFSA BVI FSC IFMRRC
Bonus 100% Deposit Bonus 30% – 100% Welcome Bonus 30% deposit bonus 50% deposit bonus
Education No No No No No
Platforms MT4, MT5 MT4, MT5 MT5
Leverage 1:40 1:1000 1:1000
Payment Methods 13 10 11 10 25
Detailed Comparison Spectre.ai vs World Forex Spectre.ai vs InstaForex Spectre.ai vs Quotex Spectre.ai vs Pocket Option
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World Forex
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InstaForex
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Quotex
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Pocket Option
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Compare Trading Instruments

Compare Spectre.ai Trading Instruments
Spectre.ai World Forex InstaForex Quotex Pocket Option
Binary Options Yes Yes Yes Yes Yes
Expiry Times 1 minute – 1 day 1 minute – 7 days 1 minute – 1 month 1 minute – 4 hours 1 minute – 4 hours
Ladder Options No No No No No
Boundary Options No No No No No
CFD Yes Yes Yes No No
Forex Yes Yes Yes Yes No
Stocks Yes Yes Yes Yes Yes
Commodities Yes Yes Yes Yes Yes
Oil No Yes Yes Yes No
Gold Yes Yes Yes Yes No
Copper No No No No No
Silver Yes Yes Yes Yes Yes
Corn No No No No No
Crypto Yes Yes Yes Yes Yes
Futures No No Yes No No
Options No No No No No
ETFs Yes No Yes No No
Bonds No No No No No
Warrants No No No No No
Spreadbetting No No No No No
Volatility Index No No No No No

Spectre.ai vs Other Brokers

Compare Spectre.ai with any other broker by selecting the other broker below.

Spectre.ai vs

FAQ

What Is Spectre.ai?

Spectre 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 e-wallet.

Does Spectre.ai Have A Mobile App?

Spectre.ai has a mobile application compatible with Android devices. It can be downloaded from the broker’s website. The app allows users to manage trade operations from a mobile device, including depositing funds and withdrawing returns.

What Assets Can I Trade On Spectre.ai?

Spectre specialises in binary options and its unique contracting class – EPIC, which is built on aggregated historical market movements that replicate live trading conditions.

How Much Money Do I Need To Trade On Spectre.ai?

There is no minimum deposit at Spectre.ai. However, the minimum trade size on the platform is $1.

What Is The Blockchain And How Does Spectre.ai Interact With It?

The blockchain is a decentralised ledger that transparently verifies transactions through a global network of nodes. The blockchain allows for transactions to be processed directly between the market and a user’s e-wallet. Spectre.ai’s decentralised system is built onto the Ethereum blockchain.

Is Spectre.ai Available In The US?

No, US citizens aren’t currently able to use the Spectre.ai platform.

Spectre.ai is a blockchain-based binary options broker