Spectre.Ai is a legally registered binary options company located in the Cayman Islands, but not regulated by any government agency.
Spectre.Ai accepts clients from all over the world, excluding USA, Costa Rica, BVI, Caymans, Cyprus, Iran, Venezuela, Syria, Somalia, North Korea, Yemen, Iraq, Puerto Rico, American Samoa, Guam, Northern Mariana Islands, US Virgin Islands.
- Simple registration and verification process.
- Various binary options available for trading.
- Ethereum funding accepted.
Binary options company offers the following underlying assets for trading.
|20+ Currency Pairs||Based on major and minor world currencies.|
|10 Crypto BOs||Based on Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Dash, Ripple, Monero.|
|3 Volatility Indice BOs||Based on specific indexes representing the EUR volatility.|
|2 Metal BOs||Based on Gold and Silver.|
Spectre.Ai claims to be the world’s first “broker-less” trading platform that allows users to trade directly against other traders or a liquidity pool.
It is worth noting that Spectre.Ai is currently not regulated by any government agency, although it is legally registered as an international business company in the Cayman Islands under the name Spectre Global Limited, with registration number 40444.
Spectre.Ai’s platform stands out from others in that it does not require traders to deposit funds in a trading account. Instead, Spectre.Ai users can trade directly by using funds in their digital wallet containing Ethereum (ETH). This is in many ways similar to how the decentralized exchanges in the crypto world operates, with the exception that Spectre.Ai also allows traders to trade traditional assets other than crypto.
Spectre.Ai also features its own crypto token known as the Spectre.ai Utility Token (SXUT). The token launched in the open crypto asset market in the beginning of 2018, but has at the time of this review been a miserable investment for token holders who purchased during the launch. Among other things, the SXUT token entitles holders to certain privileges on the trading platform, such as higher potential payouts and access to more trading assets.
Although Spectra.Ai allows for trading in both binary options and traditional forex pairs, the selection of underlying assets is not as great as what many other brokers in the industry offers. For binary options, a small selection of nine crypto pairs, as well as gold & silver is available to trade on. Meanwhile, the company offers more than 20 forex pairs as part of its traditional forex trading offering, covering all major and many of the minor FX pairs.
All assets offered by Spectre.Ai can be traded via the company’s trading platform. Like most other modern trading platforms, Spectre.Ai’s only trading platform is web-based. According to the company, their platform works best with the Firefox and Chrome browsers, although it will also function with other browsers.
In terms of account types, Spectre.Ai offers its clients the choice between using their crypto wallet directly, with no deposit into the platform necessary whatsoever. The minimum trade size with this option is USD 50. A nice feature here is that all trading profits are automatically credited to the trader’s crypto wallet, which means that there will never be any trouble with withdrawing funds from this broker.
The second option is to use the company’s regular trading account, which is essentially an escrowed Ethereum wallet. This option requires a minimum deposit of the equivalent ETH value of USD 10. With this account, the minimum trade size is just USD 1.
Since Spectre.Ai is essentially a decentralized trading platform that operates according to an Ethereum smart contract, there should be little need to contact customer support for withdrawals, deposits, and other issues that typically arises with traditional brokers. The company nonetheless does offer customer support via live chat on its website.
Unfortunately, no support working hours are stated on the website, and there are also no phone numbers provided for clients who would like to speak to an agent in person.
All in all, we see Spectre.Ai as a promising company that is paving new ground as a decentralized blockchain-based exchange in the market for traditional forex and binary options trading. However, we would like to have more detailed information about trading conditions and platform functionality provided on the company’s website in order to give potential clients a better understanding of what the company offers before signing up.