Spectre.ai is a new trading platform where you can trade binary options, Forex and CFDs. Spectre.ai is different from traditional binary options brokers. They use blockchain technology to initiate all trades via smart contracts. Spectre.ai is the world's first trading platform which uses revolutionary blockchain technology. This ensures that there is no way to manipulate your trade from the broker side once the trade is mined in the Ethereum blockchain. This means you are trading on a decentralized platform where broker is totally removed from the equation. Therefore spectre.ai advertise this trading platform as a brokerless trading platform.

Please note that Forex and CFD trading yet to added and currently you can trade binary options only.

There is a giant liquidity pool which is funded by Spectre.ai's investors and traders will trade against this liquidity pool or other traders' trades. Unlike other binary options brokers, Spectre.ai doesn't gain from your loss. Loss will be gone to this decentralized liquidity pool while Spectre.ai cuts a 2% fee from each of your trades regardless of you win or loss the trade. If you win the trade, you will get the entire profit out of the liquidity pool.





Let's look at what are the advantages you get from Spectre.ai trading platform when compared to other trading platforms.





Pros

1. No Deposit required

There are two types of real money trading accounts in this platform. If you choose "Wallet" account, you don't need to deposit money/Ethereum to the trading platform. You can directly trade from your Ethereum wallet instead. This means if you trade 0.5 Ethereum and you win, entire profit will be directly credited to your Ethereum wallet. Therefore, there is no need for withdrawals.This is a fully decentralized trading account.

However, if you choose "Regular" account you are required to deposit at least $10 worth Ethereum to a private-escrowed Ethereum wallet and trade after that. Still the trades are confirmed through the blockchain which means they can't be manipulated after a trade is mined in the blockchain. You can do instant withdrawals when you required to withdraw from private-escrowed Ethereum wallet to your personal Ethereum wallet.





2. No Broker Fraud

You already understand that trades can't be manipulated, there is no engagement from Spectre.ai to do withdrawals and they are executed automatically by the blockchain, you don't trade against Spectre.ai own funds and you are just trading against your fellow trades or the liquidity pool. This means there is no way for broker fraud in this platform according to its decentralized nature.





3. Emotional Controls to Limit Trader's Losses

Most of binary options, CFD and forex traders do emotional trades such as over trading, trading with larger amounts per trade with high risk etc. In Spectre.ai platform you can set emotial controls to stop such emotional trades and reduce the risk of losing.





Cons

1. Ethereum is the Money there

Like traditional trading platforms, you cannot use USD or EUR for trading there. You need to buy Ethereum from a Fiat/Cryptocurreny exchange such as Coinbase, Coinmama, Bitfinex, Kraken or Bitstamp in order to trade. Dealing with a cryptocurrency like Ethereum is not familiar to most of people.

As a solution for this issue, Spectre.ai will launch a system called CASSET soon. Then you will be able to do deposits and withdrawals directly from credit or debit card without lengthy procedures.





2. GAS costs

There is a seperate fee when you do a transaction on Ethereum blockchain called GAS. Actually this is out of Spectre.ai's control and each transaction on Ethereum blockchain are mined with GAS fee. Therefore, very low amount trades can be not profitable as we think. Regualar wallets are introduced as a solution for this GAS cost. The GAS fees are smaller in Regular account when compared to a Wallet account.





3. Complexity

One more disadvantage is the complexity for the users. The trades are not done in a traditional way like in other brokers. You need to know how to use Metamask or Ledger Nano S wallets to place trades. How to set an optimum GAS fee for a trade etc. Therefore, you have to learn those things before start trading with a real account. You will get a demo trading account to practice.





These are the pros and cons of Spectre.ai broker. Let's move to the features of this trading platform.





This is the current UI of their platform and they will upgrade it to a new and modern UI soon.





You can find almost all the components in the platform that other brokers offer. This includes expiry times from 1 minute to 1 day, charting tools such as line, crosshair, fibonacci, gartely etc., indicators such as bollinger bands, ichimoku clouds, RSI, parabolic SAR, moving average, alligator, stochastics etc., financial calendar and so on.





They offer special features such as trade ideas and alerts such as breakouts, macro waterfall, micro waterfall, hummingbird, psyres, recoil etc.





As I mentioned earlier, you will be able to set emotional controls through the Risk management settings. This includes max position, daily stop loss, daily win stop, max drawdown per day, max percentage of allocation etc.





Another feature of this platform is that you can add pending orders.





Regulation

Spectre.ai is licensed in Costa Rica and their platform is available for nearly all countries with the exception off USA, Costa Rica, BVI, Caymans, Iran, Venezuela, UK, Syria, Somalia, North Korea, and Yemen. They will open the trading platform for UK residents soon once they obtain the license for UK.

You can start trading at Spectre.ai broker with a free demo account.

Visit Spectre.ai