Spectre.ai Review – Unique Ethereum Decentralised Binary Options Broker

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Contents

High frequency, low risk trading for the Asian Market.

Trade Digital Contracts and ZL-CFDs, all on SPECTRE.

Payment Solutions

About

Spectre.ai is a financial online trading platform that allows traders to trade in a high frequency with low risk in the financial markets. By utilizing cutting-edge, crowd-sourced technology, Spectre.ai matches traders against an embedded liquidity pool or other traders on the Spectre trading platform. 24 hour liquidity and zero-opportunity for fraud is ensured in this unique model!

No broker*

Using unique crowdsourced technology traders can trade directly against Spectre’s pool of liquidity or against other traders directly. In the Spectre.ai online trading universe, there is no shady broker, just a set of audited, secure smart contracts that rest on a global blockchain and ones that govern all trade transactions, outcomes and payouts. 100% transparency, pure trading, no fraud.

No deposits

Unlike traditional brokers, where you are required to deposit USD/EUR or another fiat currency at their bank account in order to start trading, Spectre.ai offers a revolutionary leap forward in technology which means you can trade straight from your own supported digital wallet or from a secure portal on Spectre.ai. While many brokers make money when you lose, Spectre.ai simply earns a volume based technology fee when you trade. Spectre.ai has no pesty account managers or sales people. See how Spectre.ai’s fees stack up to competition here.

Shariah Compliant

Fully Shariah compliant, Spectre.ai offers trading with no fees whatsoever. This allows our clients that honour the Islamic faith the ability to trade on the Spectre.ai platform in a fair and ethical manner, completely fraud-free, interest-free and with no hidden costs. These same highly attractive trading conditions are available to all our clients, irrespective of their faith or beliefs.

STATE OF THE ART VERIFICATION

In a traditional trading scenario, the settlement happens behind the curtains and at times, doesn’t even happen. At Spectre.ai, every trade transaction on our online trading platform is mined and settled on a transparent digital ledger or aggregated every 24 hours and sent to a public digital ledger for verification. A growing network of processing nodes (over 20,000) around the world will confirm the trade entries and exits (using independent 3rd party verification of entry and exit prices) along with debits and credits to trader accounts. This is the first trading platform in the world that offers a globally based audit trail. *

Unique Contract Range

Spectre.ai is the first platform to allow retail traders to trade Digital Contracts, a new trading contract-class with a verified outcome resulting in payouts of up to 400% (in some cases), within one second. Digital Contracts can be traded on a range of assets including traditional currency pairs, and other assets too. Last but not least, Spectre.ai also offers traditional A-Book FX trading. Take a look at our fee schedule here relative to the competition.

Constant and Live Crowdsourced Liquidity

Spectre.ai, unlike other brokers, shows its live liquidity pool that is crowdsourced and acts as counterparty to trades on the platform. This means that even if there is 1 trader or millions trading, Spectre.ai always has liquidity. This liquidity is protected and secured giving traders long term comfort. Traders trade either against each other (p2p) or against the liquidity pool. This means no trader is trading against a shady broker’s balance sheet who may choose to pay out or not. Neither Spectre.ai nor the traders have access to the crowdsourced liquidity pool. Only next generation immutable contracts can extract or send funds from and to the crowdsourced liquidity pool, respectively.

Broadest Asset Range

Spectre.ai allows for the synthetic (no underlying ownership) of a range of asset classes, whether its currencies, stocks, bonds, ETFs, indices, Epic and many more. Digital Contracts and CFDs, the unique contract types in the platform, can be taken by traders on a broad range of assets.

High frequency, low risk

SPECTRE.ai has a unique digital crowd supported balance sheet model that allows traders to trade 24 hours a day, acting as counterparty to all trades, where applicable. By using the on-board risk management settings including capital protection and early closure, traders are in control of their risk.

U-Token Privileges

SPECTRE’s U-TOKEN is the world’s first financial trading platform that features key unlocks for traders who hold the special Utility Token (SXUT), an internal currency based privilege enabler! This means those who hold this token in their digital wallet can enable higher payouts, more assets, higher trade sizes and a range of other benefits, thereby super-charging their potential. Click here to see a list of all U-Token privileges.

SPECTRE is a website that allows you to trade on the direction of currencies, commodities, stocks and other assets, for financial gain. Uniquely, it offers the ability for traders to earn up to 100% of returns (average 73%) ROI on just 1 trade within minutes (and even seconds). Unlike traditional brokerages, it sits on top of our global auditing technology meaning that it provides unparalleled transparency * . Traders may choose the off-site trading account option and never deposit at SPECTRE to trade to see how things work. SPECTRE’s liquidity pool (i.e balance sheet) is owned by our platform users who receive rewards based on the traded volume in SPECTRE, and not by a centralised management.

Yes. We offer trading via mobile phone. You can download it here.

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The blockchain is a globally distributed ledger that uses thousands of decentralized servers around the world to audit and confirm transactions. These can be simple transfers of money or complex smart contract outcomes such as the processing of trades. It is free of human intervention and by far, the most secure way of confirming transactions today.
In SPECTRE a trader may use the blockchain either as a way to fund their centralized trading account or as a way to trade without ever having to make a deposit by making use of the publicly available smart contracts.

All major currencies, EPICs and eventually the entire gamut of asset classes.

Not necessarily. Ethereum is a method of deposit. You may use either Ethereum or connect with UPHOLD and use any currency you wish or make a deposit with your fiat currency (availability varies per location). If you want to use the off-site wallet account though and never make a deposit, then Ethereum is compulsory due to the inherent smart contract technology. Ethereum has close to a $1bn daily traded volume and therefore offers ample liquidity, globally.

$10.00. We strongly advise starting off with small amounts as financial trading is risky, despite being rewarding.

For traders trading using the onsite trading account option, withdrawals may take up to 24hrs based on the activity and balance of each user. For traders trading using their offsite wallets, they receive their gains instantly into their account on a trade by trade basis so their funds are always with them.

Contact

Contact us here for more information on how to get started, whether as a trader or affiliate. Please allow 24 hours for responses.

Welcome to SPECTRE.ai

Please note that you need to own ETH (Ethereum) in order to trade live inside the platform. Click
What is ETH?

ETH stands for Ethereum and it is the cryptocurrency unit of the Ethereum blockchain, a globally distributed ledger that uses thousands of decentralized servers around the world to audit and confirm transactions. These can be simple transfers of money or complex smart contract outcomes such as the processing of trades. It is free of human intervention and by far, the most secure way of confirming transactions today.
Why do I need ETH to trade on SPECTRE?

You need ETH as SPECTRE is built on the Ethereum blockchain in order to be completely broker-less and decentralised. When you are trading in SPECTRE, you are not trading against a centralised management but against a decentralised liquidity pool.

Where can I get ETH?

You may create an account in any major exchange such as Uphold, Coinbase or Kraken where you can convert your fiat currencies such as GBP, USD, EUR, JPY, CHF do ETH and back. Ethereum has close to a $1bn daily traded volume and therefore offers ample liquidity, globally. You would then need to move the ETH from your exchange account to your private ETH wallet.

How can I create an ETH wallet?

The process is very simple and there are many types of wallets, like online wallets, hardware wallets (Nano Ledger S, Trezor) and even paper wallets. The simplest way is to go to www.myetherwallet.com and create an online wallet there. The process takes less than 5 minutes.
If you have any additional questions, please read the Frequently Asked Questions or contact us at [email protected]

“>here to find out quickly what ETH is.

What account do you wish to create?

Regular

There are 2 ways to deposit Ethereum into your trading account:
a) Directly from your Ethereum address (for those who already hold Ethereum)
b) Directly from your UPHOLD account where you can deposit in your local currency (ie EUR, GBP, USD) and get the equivalent Ethereum in your trading account, in order to begin trading.

In both cases all trades are handled by SPECTRE. You may incur small deposit and withdrawal costs at UPHOLD or at SPECTRE (reflecting gas fees for Ethereum). All new gains on account can be withdrawn every 24 hours and existing deposits, any time, if you are funding your account via an offsite Ethereum address. If you are connecting and trading from UPHOLD, you can withdraw all gains and deposits instantly. The Regular account has the highest payouts on offer.

You are required to complete on-site KYC (under 5 minutes) before being able to start trading. The Regular account allows a range of trader upgrades and privileges if you hold the SXUT token. Find out more on what these are and how to obtain SXUT.

Wallet

You are required to complete on-site KYC (5 minutes) before being able to start trading. The Wallet account allows a range of trader upgrades and privileges if you hold the SXUT token. Find out more on what these are and how to obtain SXUT.

This was made available on March 31 st , 2020

Spectre Trading Limited, Suite 305, Griffith Corporate Centre, Beachmont, Kingstown, St.Vincent and the Grenadines

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We use cookies to enhance your experience. By staying on our website you agree to our use of cookies. You also accept our Terms and Conditions, Acceptable use Policy and Privacy Policy.

The products and services contained in this website is not directed at residents of the United States or for use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

The information on this website is of a general nature only, and does not take into account your personal circumstances, financial situation or needs. Dealing in Digital Contracts and our other over-the-counter derivative products carries significant risk, and you may lose all of your initial investments. You should be aware of all the risks associated with foreign exchange and Digital Contracts trading, and seek advice from an independent financial advisor before deciding whether dealing in our financial products is suitable for you.

Prediction and Volatility Trading for Spectre AI are offered by Spectre Trading Limited. Spectre Trading Ltd is incorporated in St. Vincent & the Grenadines as an International Business Company with the registration number 25113 IBC 2020. The objects of the Company are all subject matters not forbidden by International Business Companies (Amendment and Consolidation) Act, Chapter 149 of the Revised Laws of Saint Vincent and Grenadines, 2009, in particular but not exclusively all commercial, financial, lending, borrowing, trading, service activities and the participation in other enterprises as well as to provide brokerage, training and managed account services in currencies, commodities, indexes, CFDs and leveraged financial instruments. This website’s services are not made available in certain countries such as the USA, Costa Rica, BVI, Caymans, Cyprus, Iran, Venezuela, Syria, Somalia, North Korea, Australia, Yemen, Iraq, Puerto Rico, American Samoa, Guam, Northern Mariana Islands, US Virgin Islands, or to persons under age 18.

* When using a Wallet account, not Regular.

All trading involves risk. Digital Contracts trading means you could lose your deposit if appropriate risk management is not used.

All trading involves risk.
Losses can exceed deposits.

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Spectre.ai Review All these you need to know about Spectre

Spectre.ai is the world’s first trading platform without an intermediary broker. Spectre was designed with one major agenda in mind; that is to make fraud in trading practically impossible. Kay the CEO of has previously worked for JP Morgan and Goldman Sachs.

In this spectre.ai review, I will give a comprehensive overview of this platform. I will be concise and make it very easy to understand manner. I will also use videos and pictures so that at the end of this review 99% of your questions on Spectre would have been answered.

Before the existence of Spectre.ai, Trading requires that you deposit your money with a broker before you can trade, trusting that they pay you your winning when you win and also make their platform fair… Well, this doesn’t always happen.

The problem most traders face when trading Binary options/CFD/FX is the fraudulent nature of the brokers. Most platforms are designed such that traders trade against the broker; i.e when you lose the broker profits when you make a profit, the broker a loss. Therefore, the brokers try all the tricks he can to make traders lose. The tricks he might use includes but not limited to:

  • Easy Demo account: He makes the demo account so easy and profitable but real account difficult, traders will make a good profit in the demo account but are not able to do so in real accounts.
  • Disable Profitable market: I have experienced this on a lot of platforms. when a market is going in a particular direction for an extended period of time, the broker disables that market temporarily. He does this so that traders cannot trade that market to make an easy profit then re-enable it when it becomes unpredictable.
  • Refuse to Pay: Some brokers outrightly will not pay traders who have made winnings. Some give excuses of payment method issues which never get solve or they outrightly ignore you.

Don’t be deceive when a broker is said to be regulated. Most of these brokers are most of the time only regulated in Europe. This means that the regulation only protects people living in Europe. So, if you live outside Europe…, sorry they might play these tricks on you.

The solution to this broker fraud is to have a system that makes it technologically impossible to play these tricks on traders. These ways you don’t even need it to be regulated.

On spectre.ai, you do not need to deposit your money with a broker – there are no brokers – you trade directly from your wallet. This is made possible by the Ethereum blockchain.

Now you have the background, let’s get into this spectre review proper.

Update: I have included an options signal service for you at the end of this post. Enjoy

Spectre.ai Features

  • Tight spread lower than most brokers see here
  • No deposit required; trade directly from your Ether wallet
  • No hidden fees
  • No Broker
  • Leverage up to 200% when holding SXUT
  • Quick order execution
  • Smart Options (e.g. Close trade at profit before set time)
  • No negative balance
  • Friendly Support
  • Demo Account
  • Trade ideas
  • News flash Update
  • Tutorial Videos

Accepted Countries Canada and Europe Accepted

Traders from 11 countries are not allowed on Spectre.ai. Other than this, you can trade from every other country your countries specifically do not allow binary options trading, CFD and Forex trading.
Prohibited countries include; USA, Costa Rica, BVI, Caymans, Iran, Venezuela, United Kingdom, Syria, Somalia, North Korea and Yemen.

Supported Languages

English, German, Japanese, Chinese, Vietnamese

Trading Instruments (Spectre.ai Review)

By the end of 2020, the Spectre team has proposed to have over 2,000 markets available for trade. However, as at the time of this article, there about 46 currency pairs available for trade.

Spectre.ai Contract Class

The trading instruments are grouped into 3 contract class:

  • Smart Options
  • ULC-CFD
  • Fiat Contract (A-Book)

As at the time of this article, only the smart options contract class has been implemented.

Smart Options:

Smart Options is similar to binary options but better. In binary options, you choose a time duration for your trade, enter the amount you have to stake and choose your trade direction. If the chart went your way at the end of this time duration, you win if not you lose all the capital you allocated to the trade. With smart options, you can do this and in addition, you can also;

  1. Close trade at a profit or some loss before the timer expires (the last video I this article shows a practical example)
  2. Implement a 1% to 75% protection on your capital so you don’t lose it all if the trade goes against you. (this feature will be added in a few weeks)

There are various smart options types you can trade on this platform, this includes Knock-in – knock-out, High – Low, Call – Put, Barrier and order ladders.

ULC-CFD

I have a well-detailed definition of CFD in my review of 1Broker and my review of iq options. CFD (Contract For Difference) lets you trade on the speculative outcome of an asset without participating in the actual market. CFD is similar to Binary Options/Smart Options but different in that it removes the time limit. So when you make a trade, it stays live until you close it at a profit or loss. You can also set TP (Take Profit) or SL (Stop loss) in this case your trades closes on its own at the points you have set. This is basically what is traded on 1broker

Also, unlike other platforms that charge overnight financing, Overnight financing is not charged.

Fiat Contract (A-Book).

Classic A-Book Trading is similar to CFD trading but allows you to trade a wilder liquidity market across highly regulated fiat-based markets. Here you can also trade off the blockchain if you choose to do so.

Before proceeding, you can watch this 8 munites video of the spectre platform by the CEO Kay explaining the above and more.

Types of Account on Spectre.

There are 3 types of accounts a trader can create on Spectre. They are:

  1. Demo account: when you a register on this platform, you are automatically given a Demo account preloaded with 100ETH. With this you can trade on the platform to fully master it at no risk. You cannot withdraw the 100ETH as it is virtual.
  2. Wallet account: This is a real account that lets you trade directly from your Ethereum wallet. You do not need to make a deposit to the platform trade with this type of account. This means that if you make a win, the profit is directly credited to your Ethereum wallet. This type of account is fully decentralized. However, this means that each time you make a trade, you will have to pay the Ethereum Blockchain transaction fee (gas) as your transactions are confirmed on the blockchain.
  3. Regular account: This is a real account that is semi-decentralized. To trade on using this type of account, you will need to make a deposit to your Ethereum wallet on the spectre.ai platform. You still maintain full control of your wallet but the spectre team can monitor the activity of your wallet. Since this type of account is within the spectre Network, you do not pay the gas fee when trading. You only pay gas fee when you want to withdraw to an external wallet. The regular account payout is also about 3% – 7% higher when compared to the Wallet account payout.

Note: Traders holding SXUT. Enjoys a higher payout when trading.

Registration Requirements

To Start trading the Demo account, you will need to enter your name and email address and then confirm your email address. In compliance with regulation, the real account requires you complete the KYC (Know Your Customer) form to start trading. This includes uploading your proof of residency and ID card.

Ease of Use

The Spectre.ai Trading platform has a great interface with loads of information. Pro traders would really enjoy because of the extra information available that cannot be found on other options platform. The new traders will get the hang of it after a few minutes.

The trading room is well organized for easy and quick operation. Your balance and liquidity pool is shown at the top, trade ideas, wallet type, instrument and payout to the left. Trade button, Analytics, calendar and time zone to the left. Position held and history to the bottom. The Live Chart at the centre. You can choose the instrument you want to trade from the left, right or within the chart. The chart also has various tools to help you make trade analysis.

There is also a step by step tutorial that guides you through the interface once you sign up.

Deposit and Withdraw Method

The wallet account requires no deposit as you trade directly from your external Ethereum wallet. For the regular account, you have to make a deposit to your internal Ethereum wallet. You can do this Through Ethereum, Visa, Master Card and Wire Transfer. The minimum deposit is the Ethereum equivalence of $10.

Transaction Fees

There are no transaction fees when trading on the Spectre Platform. You only pay for gas, the frequency also depends on the type of account you are trading. The gas fee is minimal, it does not go to spectre but used to confirm transactions on the Ethereum Blockchain.

The question you might have now is. How does Spectre make money to pay its affiliate if there is no transaction fee? This whole concept is the business model of Spectre.ai as illustrated the 8 mins video above. Traders trade against the Liquidity Pool. The Liquidity pool is the money invested by those holding the Spectre tokens (SXDT or D-token). The liquidity pool value is affected by supply and demand of the tokens, Ethereum price as it’s connected to ERC-20 and gain or loss from traders trading against this pool. Spectre takes trading fees from this pool to pay its affiliate and the D token holders.

Customer Support

There is a 24/7 customer support in spectre via the live chat. The average response time is 5 mins. They are friendly, willing and eager to answer any question you might have. Some of the information in this article are gotten from responses from life support. You can also contact support via email ( [email protected] ) and social media.

Is Spectre.ai Legit or a Scam.

The simple and straightforward answer here is No. It is impossible to be scammed in this platform since you trade directly from your wallet. Even when you make a deposit to the platform, you are still in control because your fund is protected by the Ethereum smart contract.

Even though Spectre doesn’t need to get regulation since they do not handle traders’ funds. They are regulated by the Costa Rican Oversight and licensed with the Cert No. 58373902020.

The registration in Costa Rica is obviously for Tax reason.

Conclusion:

From the spectre.ai review above, you can see that it is an exceptional platform. It is the first new generation trading platform. It has solved the problem of broker fraud since there are no brokers. If you are looking forward to trading options, Spectre is your best bet.

Bonus: – Binary options Signals and Strategies.

Most Binary options signal services out there either demand too much for the service and yet do not deliver or are outright Scam.

So I have partnered with one of the best Binary options traders to provide a signal service. This signal service is designed to help you generate a guaranteed monthly income by trading Binary Options professionally. The service will be delivered Daily (Monday to Friday) Through our Facebook Messenger Channel.

However, we are still working on this service, it will be ready by August 2020. If you are interested in this service, Join the Facebook messenger channel now and you will be notified on FB messenger once the service is ready.

Risk Warning:

Financial trading is very risky and can result in account losses and total account wipeout if proper risk management procedures are not adhered to. Only trade with money you can afford to lose.

I talked about a trading video, in the beginning explaining some smart options features, Here you have it. It is 9 mins long.

If you enjoy reading this, share using the social media icons below.

. Notice! Notice!! Notice. .

Most of the emails I receive are from readers asking how they can gain financial independence through crypto trading.

Having gathered a plethora of experience from being consistent and relevant in this niche since 2020, I decided to create the Ultimate Trading Course.

It is designed to coach Beginners to become Pro traders and Professionals to Experts in crypto trading.

Launching soon: Crypto Trading Mastery (CT Mastery) | The Only Crypto Trading Course You Will Ever Need.

Join our Telegram Group to get a notification when it launches.

List of the 11 Best Binary Options Brokers – Review 2020

The choice of a good Broker is undeniably one of the hardest steps to successfully trade as a beginner. My Binary Options Broker list and comparison can be very helpful here because the selection of brokers on the internet is quite large and therefore the chance to find a good broker. Find your suitable broker in a few moments in this honest review.

Best Platform
Highest Yield 100%+
Best Support

Broker: Review: Regulation: Min. Deposit: Yield: Advantages: Open Account:
1. IQ Option (5 / 5)
Read Review
CySEC (EU) 10$ up to 100%+
2. Olymp Trade (4.8 / 5)
Read Review IFC 10$ 92%+

Huge range of assets
High Yield 92%
Bonus Program 3. Expert Option (4.8 / 5)
Read Review VFSC, FMRRC 50$ 90%+

Good Platform
Account Types
Good Education 4. Binary.com (4.8 / 5)
Read Review MGA, FSC, VFSC 5$ up to 100%+

Highest yield
Clear platforms
Automatic trading 5. Binomo (4.7 / 5)
Read Review IFC 10$ 87%+

Clear Platform
High Yield 87%
VIP Program 6. Finmax (4.6 / 5)
Read Review FMRRC 250$ 70 – 90%

Account Types
Bonus Program
Webinars, Coachings 7. BinaryCent (4.3 / 5)
Read Review ✘ 250$ 80 – 95%+

Support 24/7
High Yield 95%
Trade with cents 8. Binarium (4.1 / 5)
Read Review ✘ 10$ 70 – 85%+

Clear Platform
Fast execution
Huge range of assets 9. Pocket Option (4 / 5)
Read Review FMRRC 50$ 80 – 90%+

Innovative Platform
Awards
Bonus Program 10. RaceOption (4 / 5)
Read Review ✘ 250$ 70 – 90%

Support 24/7
FX/CFD/Binary
Bonus Program 11. Ayrex (4 / 5)
Read Review ✘ 5$ 70 – 85%

Good Platform
Contests
Bonus Program

Binary Options is a financial instrument to trade worldwide assets with the possibility of a high return on investment. It is like betting on rising or falling markets. There are only 2 options, that is why it is called “binary”. You can win a high return of 75 – 95% in a selected time horizon or you lose the amount of your investment. It is so popular because it is a way to trade the markets very fast (5 minutes or less) and easy. I have to mention here you can trade it longterm too.

For more information about the financial product and how it works read the article: “How are Binary Options are working?”

The criteria of the Binary Option Broker Review 2020

If you looking for a good broker, you should following the next steps when you check the company. Sometimes traders get scammed by a bad and criminal broker. With this review and comparison, we try to prevent it. Furthermore, Binary Options are very risky. You only should invest money, which you can afford to lose. You can check the following criteria for finding the best company.

Criteria for a good and reliable Binary Options Broker:

  • The official physical address of the broker
  • Regulation or license
  • Free Demo Account
  • Experience in the markets
  • Good support and service
  • High asset profit and fast execution
  • User-friendly trading platform
  • A platform for mobile trading

Reliability of a broker and safety for traders

It is important to look at how long the broker has been on the market. I easy checked it on the homepage from the financial companies. A good broker provides you with all the information which you want to know. Some companies got an international regulation or license. Also, this is good for reliability. In addition to that, I checked the address of the brokers in this review. As a trader, you want to see clearly an official address of the company. At latest a trader should trust a broker. If you are not sure, just invest a less amount of money first and check the platform by yourself.

Official regulation and license are very important

High payout and asset return of investment for Binary Options

One of the most important point to consider is the asset profit. The average of the payout in this review is 75-95% for each Binary Options trade. There are differences between the brokers. Every trader wants to make a high profit in trading. If one broker got less asset profit like – 5%, this can be a huge restriction to you possible profits.

Moreover, every time the payout depends on the traded asset. Normally the broker provides the highest payout on the most traded asset. In addition, the payout can dependent on the expiration time too.

Which broker provides the highest profit?

Free and unlimited Demo Accounts are necessary for every trader

The broker should provide you with a free demo account. This is an account with virtual money. It is made to practice the financial product and to test the trading platform. You can trade Binary Options without any risk with this virtual money. It is completely free to use. Also, traders can develop new strategies or improve their trading skills. Advanced traders or beginners try to trade new assets for the best success with this account.

Open your free demo account now.

On the other hand, sometimes the broker gives its traders trading tips for analysis or strategies. The demo account is perfect for practicing that new knowledge. Trading is very complex and often it is not easy to find the right way. This is the main reason for using a demo account. Most traders gain experience first before they invest real money. With own experience, it is possible to get a high profit with trading in the right direction.

How to open your real account

The opening of a real account should be as easy as the opening of a demo account. In most cases, it is very easy and fast. The broker requires some additional documents and data of the trader to proof their personality. Upload a picture/copy of your passport. Sometimes they require a utility bill. The broker will check the documents and verify your account in less than 24 hours. Important information: The broker only withdraws full verified accounts. (Not every broker requires this documents)

What do you need:

  • Data: Full name, address, birthday, phone number
  • Picture/copy of your passport
  • Sometimes picture/copy of a utility bill

Review of the Binary Options Brokers support and Service for traders

As a trader, you need good support and service. Most brokers are showing experience and knowledge in Binary Options. The Binary Options Brokers in this review give you the best and fastest support. According to that, they give traders sometimes a good education with webinars, videos or strategies. For beginners, it is important to learn theoretically about Binary Options. It is a risky financial product.

You can learn the basics and advanced trading knowledge in webinars with experts. The most brokers first show you the basics like functions of candlesticks and the use of technical indicators. Usually, a trading platform offers more than 30 different indicators. Sometimes it is hard to find a good working strategy with them. In addition, they give you some advanced knowledge and information to rule the markets. Most brokers offer you a better education if your deposit is higher (see account types).

Another option of service is account types. For big traders with high deposits and high trading volume, some brokers offer different account types. As a trader, you can get great advantages. They offer you higher yields, better support, bonus or a cashback program. This is a way to get more profit in trading. For example, the broker offers you a higher asset profit of 5%. That can be very helpful.

The companies in this review offer you:

  • Chat support
  • Telephone support
  • Email support
  • Education centers
  • Webinars, videos, strategies
  • Account types
  • Account managers

Diversity of assets and test of the Binary Options trading platform

I tested the trading platforms of the Binary Options Broker Review. In conclusion, they are very good and innovative. They give you a very good reaction rate which is important for short-term trading. You can use them for your computer or as an app for your mobile phone. In addition to that, they are very flexible and customizable. Use different indicators for the best strategies. As you see in the picture below I am using Bollinger Bands and the RSI. They are very popular.

First of all the trading dashboard is the most important point of the trading platform. You should be able to switch very fast between different expiry times and create new trades. Some strategies are designed to have multiple trades open at the same time. The brokers in my review provide you the fastest execution time. Secondly social trading very popular. In some trading platforms, you can copy the best traders of the broker and make an automatic profit. They show you transparently what they are trading and you can start copying them.

Another important point is the flexibility of the platform. An app should be available for mobile trading. On most platforms, you can customize the chart very easy. Thanks to the digitization, platforms are getting better and the brokers always try to improve them. Use free indicators and technical tools for your analysis. Moreover, you can use the newsfeed to trade exactly high volatility. Market news occurs every day – Why not use them to make money?

Facts of the Broker Review:

  • Fast execution for your trades
  • Customizable
  • Use indicators and more
  • Apps for mobile phone
  • More than 50 different assets

On the most trading platforms, you can trade Binary Options with forex, stocks, cryptos, and commodities. There is a big diversity of assets for you. The yields depend on the category of the asset. More often than not the most traded asset gives you the highest yield. You can easily see that on the platform.

Weekend Trading (OTC) and Cryptocurrencies (Bitcoin and more)

Each broker in this list provides the service to trade on the weekend. The platforms are open 24/7. Weekend trading is allowed and advocated. On the weekend you can trade Cryptocurrencies like Bitcoin, Ethereum, Ripple and Forex OTC charts. Cryptocurrencies are traded decentralized and the stock market is open 24/7 for them.

Especially attention should be paid to the OTC Forex charts. Normally the stock exchanges are closed on the weekend but the international internal bank market is working. The volatility is much less than in the normal working days Monday – Friday.

The first steps for your Binary Options success:

  1. Learn the Binary Options basics. Information for trading Binary is available at the broker platform or the internet. For questions, there are certain forums available.
  2. Develop a successful strategy. Most brokers will help you to find a way to trade successfully.
  3. Use the Demo account. It is an account with virtual money. So you trade without risk the markets.

You should ask yourself these questions:

  • What do I want to achieve with the trading of Binary Options?
  • How much I want to invest?
  • Where, on which market I want to trade?
  • How do I react to losses?
  • What are the chances of winning?

Deposit and withdrawal by a Binary Options Broker

Nowadays the deposit is easy like the withdrawal. Most brokers only need a small amount of money to open your real account and give you access to the market. Capitalize your account in few seconds with a credit card, bank wire, cryptocurrencies or other e-wallets. Today it is very simple. The withdrawal systems are working very good too. Sometimes it is fully automatic. Most companies payout in less than 24 hours. In addition in a lot of cases, there are not any fees for you. Another important fact is brokers only withdrawal verified accounts. So get your account full verified with the right documents as mentioned before.

Bonus Programs and conditions for traders

Bonuses are very popular in the section of Binary Options Brokers. Most companies offer a deposit or a no-deposit bonus. There are a huge diversity of promotions for traders. Mostly the bonus depends on the deposit amount or you can choose it manually. For example, some brokers offer a bonus of more than 200%.

It is a good way to top up your trading account balance and earn more money. You can trade with more risk and grow faster your account, but you should not forget the bonus conditions. Every time there are requirements for the bonus. For example, you do a deposit of 5000$ to your broker and trade with sensible money management of 1% of the account balance per trade. That means you invest 50$. Now you activate a bonus of 100% and additionally you get extra 5000$ and your account balance is 10.000$ now. At the moment you can trade with sensible money management with an amount of 100$ per trade. That sounds good and you grow your account faster as without bonus.

The deposit bonus is a good way to increase your account balance and to trader with more risk.

As mentioned before there are conditions of the bonus. Simply there is the requirement of turnover of the bonus amount. Sometimes you have to do a turnover of x20 and sometimes you have to do a turnover x50. It is important to read the bonus requirements. If you got any questions, you can ask the support. In most cases, you will see the requirements transparent on the platform.

  • Deposit bonus: Get additional money to your account balance.
  • No deposit bonus: You will get a small amount of money for free, but you have to do a huge turnover before you can payout the profit.

Welcome Bonus for beginners

The no deposit bonus is named welcome bonus. There are different ways to get a welcome bonus. One way is to win a free demo contest (read more below) without any risk. You compete to other traders on the platform. The rules are easy to understand: Just try to get the highest account balance versus your competitors. If you win, the broker pays a high prize. It is like a welcome bonus because you do not invest real money.

On the other hand, as mentioned before the no deposit bonus is like a welcome bonus. There are a few brokers who offer this bonus. Just create your real account and activate the welcome bonus. The company gifts you any amount of money to your account balance but you can not withdraw the money. You have to do a high turnover of the welcome bonus like 30x or 40x. Recommend broker for a welcome bonus is Pocket Option.

Binary Options Tournaments

In addition, most brokers offer tournaments or demo contests for beginners and advanced traders. You must pay a fee to participate in a contest with a huge prize fund. The rules are very simple: You get a separated demo account where you have to get the biggest balance as possible. You will compete against other traders of the broker. Sometimes there is a prize fund of 100.000$ or more. Furthermore, it is not easy to win the contest because there are a lot of competitors.

The demo contest is a tournament without participation fee. That meant that the prize fund is much smaller than the paid tournaments. But it is a good way to earn money with a small amount of money (participation fee). If you are a successful trader, you can easily win these contests.

Countries for traders

Binary Options are not allowed in every country of the world. In addition, some countries forbid trades to use foreign brokers. Most brokers accept international traders, but there are restrictions for forbidden countries. You can not generalize it because the broker decides which customer he accepts.

Nowadays Binary Options become more and more popular for traders. It is a simple and efficient financial product. It is possible to generate a high payout in a short time horizon. Asian and Africa are growing very fast and people like the function of trading. The brokers in this review try to improve their service in this region of the world because the demand is very high. They improve their customer support with different languages and other services.

The fastest growing countries:

Are Binary Options legal?

Sometimes there are some restrictions to this financial product that depends on a particular country. Personally, I only know one area where Binary Options are forbidden. It is the European Union but some offshore and international brokers accept EU traders. It is like gambling on rising or falling markets and easy to understand. The EU tries to protect its citizens because there are a lot of scam brokers. To prevent a scam, use the best brokers of this review.

Find the best Binary Options Broker 2020 – Conclusion of my review

On this site, I showed you the idea of finding a reliable Binary Options Broker. In the list, you see the best companies in 2020. For successful trading a good broker is necessary. The company should allow you your own strategy of trading and give you good support and service. On most platforms, you can learn via education videos how Binary Options are working.

Also important is the execution of your trades. It should be very fast and with no delay. Usually, every broker does that. Nowadays as a trader, you can start with a small amount of money to trade Binary Options (10$ or less). It is possible to turn it in a high amount with the right strategy. In conclusion on this site, you can find the best and proofed Binay Options Brokers 2020.

Read more about them in my reviews:

I recommend this article if you can not choose between the most known brokers: “IQ Option vs. Olymp Trade vs. Binomo”

Spectre.AI — The world’s first broker-less financial trading platform Review

A Review of Spectre.ai

If the stock market is the destination, brokers would like be the drivers who help you get there. Seems easy and straightforward right? Well it’s not always so. There are thousands of brokers that broker the stock market, and whenever a “layman” wants to trade on the stock market, they often need to employ the services of a broker.

Certain financial institutions like banks can serve as broker agents, they meet up with the client who essentially establishes the guidelines for the trade and the agents take it from there. However, while it may seem convenient to access the stock market through the professional agents, it is not always so — at least financially.

This process usually comes with requirements like account minimums, commission fees for withdrawals and of course the substantial fees the brokers charge to the account for their services. This is excluding the potential risks of falling into the hands of fraudulent brokers. At the end of the day, wouldn’t it be best if one could deal in the stock market directly without the help of these middlemen? Imagine if there was a platform that eliminated the need for middlemen while trading in the stock market. Let me to introduce you to Spectre.ai, a platform that gives power to the trader.

SPECTRE, an acronym for Speculative Tokenized Trading Exchange is the world’s first broker-free, financial trading platform. The platform incorporates the smart contracts of the Ethereum blockchain with a wide variety of assets trading options like digital/binary trading, forex, CFD, and crypto trading. Nevertheless, Spectre.ai is a lot more than a trading platform or signals provider for commodities. Like with any blockchain powered system, Spectre.ai aims to disrupt the trading world as we know it.

The most distinctive feature of the Spectre.ai platform is the broker-less factor. No intermediary broker is needed as the system functions as its own broker, allowing uses to directly trade in financial markets. The system doesn’t just eliminate the role of a broker, it has several features in place to ensure users aren’t scammed or defrauded of their investment on the platform, as it is common with pro-broker systems. The broker is replaced with a decentralised, autonomous liquidity pool owned by the investors who participated in the token sale of the platform. With a new level of transparency and decentralization, Spectre is bringing a revolutionary change to the financial services sector.

The financial trading world is plagued with problems arising from the action of brokers in the industry. There is a thin line between legal trading activities and what unacceptable and these brokers are often found on the wrong side of the line. From manipulating stock prices, prohibiting withdrawal of funds from the account by the trader and a host of other conflicting interest based on possibly fraudulent reasons, brokers are arguably the top reason behind collapsing trader finances.

One doesn’t need to look closely into the matter to understand what is happening. The more money a trader loses, the more beneficial it is for the brokers. There are several reports of brokers flagrantly refusing to allow traders withdraw their winnings. The outrageous manipulation of market prices is at the cost of traders and to the benefit of brokers. As if that isn’t problematic enough, trading with a broker entails that one has to deposit money with them, in essence you are trusting the broker with their assets.

There are several examples of brokers who were ejected from the system for defrauding clients — Banc de Binary, a digital options broker and FXCM, a forex broker are some famous examples. Nevertheless by the time of these brokers are ejected from the system, the traders involved with them would have already lost a considerable amount of money.

How does Spectre.ai work to address these issues?

The role of the brokers in the Spectre system is replaced with a Decentralised Autonomous Liquidity Pool (DALP), a pool of funds to cover users’ trades. The liquidity pool is “tokenised” because it is run by the funds from the ICO. This is how the “liquidity pool” works; when a user trades, they are required to indicate how much money they want to “invest” and the period of time in which are investment will run. At the end of a fixed trading period, after the market buys or sells, the users are left with either a profit or loss. The price feed utilized by the system comes from frequently audited and trusted sources leaving no room for market price manipulation.

The liquidity pool is powered by a verifiable and auditable smart contract which enables a seamless and frictionless trading experience by eliminating the chances of human manipulation of the market. When trading with Spectre, there is no actual exchange of money until a transaction is completed. The trader opens a gateway wallet on the Spectre platform which can be linked to other crypto-wallets regardless of the type of coins it holds. When the trade yields profits, the money is credited to the wallet and when there is a loss, the deficit is withdrawn from the account. Basically, at no point is a trader’s money held by an exchange or broker agency.

The investors from the token sale get their dividends whenever people make transactions, in other words, Spectre’s fees are generated based on the volume of transactions (all transactions, losses or winnings) removing the conflict of interest model. The online trading market is a lucrative one, the retail FX market is worth over $81 trillion on an annual basis. In that case, Spectre doesn’t need to do more than capture a tiny fraction of the market to be established.

Benefits of Spectre

• Broker free
The broker free feature is one feature everyone can appreciate on Spectre. Brokers are expensive, can be fraudulent and there is bound to be a conflict of interest down the line. With the Spectre software, enabled by verified and secure smart contracts of the Ethereum blockchain, traders can directly trade against other traders or Spectre’s DALP. The smart contracts controls the pay-outs and outcomes, thus, the system is as transparent and as fraud-free as possible.
• Deposits
The Spectre system allows users to connect their Ethereum wallet to the platform from where funds can either be credited or debited or via a secure portal on the platform. The trader does not have to deposit money into a broker account and there is no point where the money is held by the system either. There are no account managers, no agents, no sales rep etc. Only the trader can access their funds so users do not have to worry about being defrauded by the platform.
• Verification
By function of the blockchain technology, every transaction is verified and authenticated before it is recorded on the immutable digital database. The verification is enabled by a community verification process where a network of nodes (computers) all over the globe confirm the credits and debits to trader accounts.
• Liquidity Pool
The liquidity pool is funded by funds crowdsourced from the token sale and owned by ICO investors, traders can either trade against the liquidity pool or against each other. This liquidity protects traders’ investments such that irrespective of if there are a million traders or a single trader, every investment is secured. Additionally, only the smart contracts can add to or withdraw from the liquidity pool.
• Tradable assets
If you can think of a one stop shop that caters for all your trading needs then you have an idea of what trading with Spectre offers. Cryptocurrencies, fiat currencies, bonds, binary options CFD, FX, ETFs, stocks and a wide range of other assets can be traded on the platform 24 hours a day as allowed by Spectre’s one-of-a-kind balance sheet model.
Trading models on the Spectre Platform
There are three ways of investing on Spectre (users must hold Spectre utility token to invest).
• Smart Options
Spectre allows traders to trade Smart Options, a high risk/high reward investment with pay-outs as high as 75% -90%. Here, traders have a wide range of asset classes to pick from including regulars like traditional currency pairs and cryptos to commodities like silver and gold.
• Smart CFDs
As the liquidity pool is decentralized, traders can invest in a broad variety of CFDs without the worry of an arbitrary time frame, like in smart options. CFDs investments are low risk/low reward investments. Here, traders can also set stop loss and profit levels before committing their assets to any trade.
• A-Book Trading
Here, traders will be able to trade between equities, assets, and forex. Unlike the other two trading models on Spectre, A-book trading is regulated and centralized which enables the use of fiat currency on the platform. It is however a low-risk/low-reward trade, like smart CFDs.

Spectre issues two different types of tokens; the Dividend token (SXDT) and the Utility token (SXUT). The essence of having different types of tokens is to give the investors options on how they want to invest on Spectre. While some investors may prefer token liquidity over yield, others yet would rather go for the token with a more valuable yield. Either way, the double-token system sees to it that every investor is catered for while remaining compliant to trade regulations.

The Utility Token (SXUT)

The SXUT is the regular token whose functions are akin to the native token of any platform. This is the Spectre token that users buy or trade it for another token on exchanges. This token will also give users access to Spectre’s unique resources like a special educational course, market/investment indicators, expiries on smart contracts and an extra 5% on pay-outs. This higher pay out is the Utility token’s main advantage over the Dividend token.

The dividend token can also be called a reward token as users are rewarded for holding it. Spectre pays SXDT holders a 2% dividend at the end of every month. This 2% is from the fees generated from every trade executed on the platform. Thus, more transactions on Spectre means more dividend pay outs for dividend token holders. At the end of every financial year, if the SXDT hits a fixed amount of money, dividend token holders receive a special dividend in form of a year-end bonus. Profitability on the exchange is a lot more beneficial to SXDT holders than SXUT holders because of this reward system

The ICO of Spectre Tokens

Spectre held a successful ICO were Spectre tokens were exchanged for Ethereum. The token sale was first announced on September 11th 2020 with a hard cap of $30 million. A total number of 240 million tokens were issued for the token sale. The presale was officially launched on October 27, 2020, it operated for over a week ending on the 5th of November 2020. All participants in the presale were expected to sign up for the whitelist; to ensure all willing investors were given an opportunity to purchase the tokens and to verify the potential investors. The tokens were sold at $0.11 with a 33% bonus, over $6.6 million was realised at the end of the presale.

The main crowdsale kicked off on November 17th 2020 and was scheduled to run for three weeks, until the 10th of December 2020. There was no whitelisting for the public sale although investors were required to register on the site. The presale had a minimum contribution of 1 ETH, the tokens were priced at $0.22 with an 11% bonus for every contribution in the first week of sale. Over $16.5 million USD was raised at the end of the token sale. The ICO was decentralized, fairly paced and priced to avoid whale investors who usually buy out a huge number of tokens leaving a relatively smaller amount for the rest of the investors.

Investors in the token sale automatically received new Spectre tokens in their respective ETH addresses used during the ICO at 6pm GMT 12th December, two days after the ICO was completed. On that same day, from 9pm, the secure portal was opened, allowing investors to login and send their Spectre tokens SXS2, to either Dividend token or Utility token smart contracts, which ever they preferred. Note that SXS2 are cloned tokens and not the original tokens from the ICO which were SXS tokens.

SXS2 were disproportionately distributed based on number of SXS tokens an investor held in their wallets using a 1:1 ratio. The tokens sent to the smart contracts will be converted to either SXDT (dividend tokens) or SXUT (utility tokens) respectively. There is currently a total supply of about 43 million SXUT with over 24.5 million SXUT in circulating supply. SXDT on the other hand has over 82 million tokens in circulation out of a total supply of 140 million tokens. The dividend and utility tokens are available on the following exchanges;

The Roadmap of Spectre

The financial services sector is an industry ripe for disruption and with the advent of blockchain technology, Spectre is disrupting the outdated model of online trading. The development of the platform was divided into a four stage roadmap. The first stage started from the last quarter to 2020 and extended to the first quarter of 2020. The first stage covered the ICO and the testing of the platform for the Ethereum blockchain.

The second stage which began in the second quarter of 2020 saw to the expansion of tradable assets on the platform with the inclusion of stocks and commodities like gold, silver and platinum. In April, the system was opened for traders to begin testing the decentralized wallet accounts for trading Smart Options against other traders or against the multi million dollar decentralised autonomous liquidity pool. The first 100 users also tested other functions like account opening process, trading from offline Wallet accounts or on-platform regular accounts, utility token privileges, withdrawals etc.

The CASET (Creation of Account, Storage, Exchange and Transaction Mechanism) also commenced in mid-April. CASET will allow for currency conversion and opening of trading wallets between fiat and cryptocurrency on Spectre. The rest of the month was used to fill up the affiliate whitelist and while applying for regulatory framework for blockchain based financial systems like the European Union MIFID FCA broker/dealer license. In the third stage of the roadmap which is expected to run through the third quarter of 2020, Spectre will connect with major liquidity providers, giving traders the ability to bet on the direction of markets as well as buy and sell the underlying. New asset markets like sports betting may also be introduced to the system.

In the final stage scheduled for the first and second quarters of 2020, the management will introduce order matching capabilities, a D-App Store and sports betting decentralised applications which will be funded by Spectre’s DALP.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect Choice For Beginners!
    Free Demo Account!
    Free Trading Education!
    Get Your Sing-Up Bonus Now!

  • Binomo
    Binomo

    Only For Experienced Traders!

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