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Spectre allows Indian traders to open accounts and trade. However, Spectre has no mention of complying with any Indian regulators on its website. It is also worth mentioning that Forex trading is actually prohibited in India. The broker is not regulated by any regulatory body in India, that’s why money safety may be the issue here. The Spectre team have made the news for their innovative approach to online trading. Their operating model is centered around a decentralized autonomous liquidity pool , which is built onto the Ethereum blockchain network.
When it comes to Spectre’s benchmark, EPICs is an asset for you. The platform offers Euro-based currency pairs traded throughout. Data feeds are audited by the software and based on historical data. EPICs can also be traded 24/7 with an expiry of just one second. All accounts come with assets whose minimum trading size is set at $50.
The platform ensures that users are always in control of their funds and trading decisions. Further, the use of blockchain technology allows all the trades to be audited in real-time to provide unprecedented levels of transparency to the trading platform. With the fully decentralised broker-less trading option, users don’t have to actually deposit as all trades are initiated by them through their cryptocurrency wallet whilst using the platform.
Deposits & Withdrawals
With master-noding, you invest and let the platform do the rest for you. It’s a new way of generating revenue by providing technology that relies on a proof of stake approach. Since details on the website are not clearly enough stipulated, more information should be obtained from the customer support service in order to make an informed choice. Due to its nature of business, Spectre.ai is not affected by ESMA regulations and can, therefore, offer Smart Options to their EU clients. Ripple is popular among big banks with the Ripple network a next-generation real-time gross settlement system. The high volatility of energy prices due to political, environmental, and several other factors, is a typical feature of this product, making it a popular trading choice.
The platform uses secure encryption to protect clients’ data. We are overall satisfied with how the platform delivers security to investors. You get a platform from owners who have been in the business for ages. And this is what makes the platform a darling for traders. With a reputable owner, the platform is destined for greatness in the greater scope of things. Speculate on the volatile crypto market, which is gaining ground all over the world.
The dividends are calculated by the growth of the liquidity pool and buyback program which will be explained shortly. Spectre will have two types of tokens on sale and in circulation, after the ICO is over, each trading separately on different exchanges as well as having different benefits to token holders. There are no complaints from traders about the project in the network at the moment. Perhaps it is due to the fact that it started working actively in 2018 and it has been too little time to understand how traders treat it, how honest it is. There are no transaction fees for trading on the Spectre platform.
Fund Safety with Spectre ai
Spectre.ai warns potential traders that Forex and CFDs trading always carries a high level of risk, therefore may not be suitable for all investors. Before deciding to join a brokerage company to start trading, a potential trader needs to establish whether a broker like Spectre.ai is safe and secure to trade with. Spectre.ai offers trading with no fees whatsoever and is thus fully Shariah-compliant and allows clients of Islamic faith to trade with them. In April 2019, the system was opened for traders to begin testing. Spectre.ai allows traders to trade in a high frequency with low risk. Forex broker services can also be provided for institutional clients and large companies such as investment banks.
In the world of forex broker companies being honored with awards from esteemed organizations or publications, count much for the company’s reputation. Such awards are usually mentioned with pride on the company website. Below is an in-depth review of Spectre.ai to help you make an informed decision before opening your account or trading on their platform. Spectre.ai is a forex broker company in the Cayman Islands. This publication is a marketing communication and does not constitute investment advice or research. Its content represents the general views of our experts and does not consider individual readers’ personal circumstances, investment experience, or current financial situation.
The cutting edge, crowd-sourced technology enables users to execute high-frequency trades on the financial markets with minimal risk. All trades are either placed against the platform’s liquidity pool or other traders, managed by smart contracts, and forex com broker review recorded on Ethereum blockchain. But the trader really needs a minimum deal size of $50 in order to get access to trade in cryptocurrencies and other assets. This option is more suitable for clients who prefer to trade on the basis of blockchain.
They are split primarily between digital binary options and Spectres own Epochal Price Index Composite contract class. Upon registration users get an immediate and unlimited access to the Spectre trading platform with a risk-free practice account, and can start trading immediately with virtual funds. They can then upgrade at any time to a real account inside the platform , and switch between accounts with ease. For starters, the multitude of negative complaints and shady events happening in online trading platforms raise eyebrows. It is common knowledge that online brokerages intentionally manipulate prices to ensure that the trader loses in the long run.
With its clever utilisation of the Ethereum blockchain and smart contracts, Spectre has revolutionized online trading. All the trades performed on Spectre’s trading platform are securely governed and processed by a set of audited smart contracts. Every single trade entry, outcome, and payout is regulated by this governing set of smart contracts, creating unheard of execution transparency you can trust. With Spectre, there is no exposure to fraudulent conduct of shady brokers, just straight-forward trading. The trading platform has an excellent interface with a lot of information.
No fees are charged for my withdrawal and even when I am not so active, I do not get charged for having an inactive account. Using the normal indicators to trade on spectre has made trading options very cool. I use the Fibonacci line, my favourites are the 50% and the 61.8% lines and I also use the horizontal lines to detect support and resistance prices. There are also indicators like the ATR, bollinger band that I use and my profitability has improved since I started with this broker. This option broker has a lot of currency pairs, crypto , shares, and epics for trading.
This “safety belt” feature helps to prevent traders from making impulsive changes to their risk settings that may not have been thought through properly. I get to trade forex, crypto, stocks, epics and some other markets on the same platform. I get to build money faster because of the opportunity of making money from different assets. Those using onsite trading account options get funds within 24 to 48 hours when it comes to withdrawing. Extra time is usually based on the payment method in question.
My impression about this broker is that there is quite unique way of old concept of trading, but I like it. There is very good list of currencies, both majors and exotics which can be traded. There is option for maximum 10 trading signals which can be placed. Spreads are mostly near zero, actually there are almost freshforex no costs related to trading and also withdrawals. Platform is absolutely easy to navigate, and what I like the most, is analytics of my previous trades and earned profits per trade. What I find most advanced here compared with my previous broker is that I am able to connect my crypto wallet directly to my account.
The details required by SPECTRE during the registration process includes the user’s full legal name, email address, a password to secure the account, and copies of identity and address proof. They will also have to take a photo of themselves holding their proof of identity to complete the KYC process. With over 46,000 traders on the platform to date, Spectre is becoming the go-to avenue for high frequency, high return trading loved by traders, hated by brokers, and despised by scammers.
Before becoming a customer of any investment project, it is necessary to have a clear understanding of one’s rights and responsibilities in working on its platform. Otherwise, ignorance of some of the provisions can lead to significant financial losses or account blocking. The Spectre platform Spectre.ai has all the aspects of cooperation with clients on the website spectre.ai in the section «Terms and conditions». Support for direct trading from client accounts is an additional advantage offered by the platform and guarantees the safety of users’ funds.
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Also, there are no charges or fees for inactive accounts. The final option is the DeFi Boost wallet where users can trade and deposit using their top DeFi coins. Current DeFi coins supported include SNX, KNC, BAND, LINK, USDC, PAX but we understand Spectre will adding many more in the coming months.
The utilization of blockchain means the absence of regular intermediaries such as account managers and brokers eliminate the risk of fraud. However, off-site trading account users will have to bear the GAS costs on transactions made over the ETH network. Similarly, on-site users may incur Forex conversion charges on fiat deposits and any other additional charges that could be imposed by their payment processor on transactions between SPECTRE and user’s accounts. Spectre is geared towards efficiency, reliability, transparency, and accountability with its Ethereum blockchain-based trading platform. Although Spectre uses blockchain and smart contract technology, its trading platform is easy and convenient to use. Spectre has had a good kick-off with its Smart Options and will add other financial instruments to its offering soon.
Spectre in India
I think the demo account is also cool and I was able to learn trading binary options from there before trying out a real account. I have failed and lost a lot of money through trading options because I have always and only seen it as a game of guesses. I would open the chart and guess if it would go up or down. Kept doing this and kept losing money until I found someone who told me to go through the education that spectre provides, and my mindset changed.
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In this way I am able to have my profits directly on my wallet all the time. Spectre offers fast execution of trades with little to no slippages and zero requotes. The difference between the ask and the bid price is usually unnoticeable and which is of big advantage because I get to enter trades at the price I want. The platform has proper customisation that makes it easy to use. It is also made up of many analytical and drawing tools which made the difference in my trades. I used to gamble when I started but with better knowledge I know to know how to use indicators and trading tools.
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They work hard to promote peace of mind and security for you as the trader while offering all of the features that you would expect from a broker. As a new entity with a novel way of doing things we think it is only a matter of time before others follow suit. Once the registration process is completed, users can either choose to fund their account (on-site trading account) or connect their ETH/BTC wallet (off-site trading) to start trading. Plus, users will soon have a third option, as Spectre will soon be rolling out their DeFi Boost wallet which will allow users to trade and deposit using their top DeFi coins. Spectre intends to reshape online trading by being fully transparent which eliminates the shady operations of online trading platforms previously.
If you wish to take a regular account, however, you will be required to make a $10 minimum deposit which is held in Escrow. Offering binary option, Forex and CFD trading, Spectre.ai is a less a financial trading company and more a tech provider meaning that the platform is excellent for both desktop and mobile trading. There is no need to worry about losing your money on a platform that is built on such a secure system. With so many unique features, it is worth investigating further. Users can either choose to trade directly on the platform itself (on-site trading account) or use the off-site trading account option mentioned earlier (“broker-less” wallet account). EPIC, which stands for Epochal Price Index Composite, mimics live markets and provides an aggregate of past market movements.