Menu Review: Is Spectre a Scam? Review: Is Spectre a Scam?

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Here’s the full Spectre trading review after weeks of investigating this crypto currency robot. What makes this robot unique is that they have introduced a brokerless trading system. Although the concept is not entirely new, it is something to look forward to in the crypto market. Spectre.AI is the full name of the robot, which is registered in St. Vincent and the Grenadines. And this is where we have to urge users to be extra-careful with offshore registered crypto robots. Review

A proven crypto robot with years of trading experience is what a trader should use. These robots offer immense trading knowledge to users at all times. They protect investors’ funds and are a welcome sight when it comes to reasonable payouts. These robots have been known to produce desirable results for both experienced and newbie traders. They are the cream de la cream of online crypto trading. It is what successful crypto traders have been using to get an edge in online trading.

About Spectre

The entire post will help you dive deeper into the dealings of this crypto trading robot. They mainly deal with one type of Crypto, which can be a considerable disadvantage. Spectre is using Etherium based crypto trading for their robot. The platform runs on the Etherium blockchain network hence the reason no brokers get involved. With Etherium smart contract, it helps govern all aspects of trading, which include outcomes, payouts, and transactions. What makes this robot different from the rest?

On landing on their homepage, we can see that the platform has a professionally designed website. These developers were not kidding around as the webpage is easy to navigate. They offer digital contracts, and the platform is fully Sharia-compliant. Users get zero leverage on all digital CFDs. And this is a welcome sight for investors as the zero leverage helps get newbies to try it out. The entire web page is easy to understand, and they have made all information clear.

Assets covered by the platform

Spectre Comments from Users

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The platform is offering Bonds, EPICS, Equities, and Forex. They also claim to be SXUT supported, which means that this is a security token. The platform provides a U-Token wallet to investors, which is another interesting fact with the platform. When brokers charge for using their platforms, this AI technology-led platform is different. It earns through a volume-based technology fee when a trader places a trade. When it comes to their accuracy level, this is not defined on their homepage.

Business owner

Spectre Trading Limited is the company behind this trading platform and is incorporated in St. Vincent and the Grenadines. And this is where we start taking away their marks as it proves the platform is not available for US Citizens. Such a platform is only available for other investors and poses a huge question. It means the platform could not get a regulatory license from reputable regulators. And this is why we insist that traders should be extra careful with offshore-based platforms. When it comes to risk, they pose more danger than their regulated counterparts.

Comments and feedback from users

We checked with Reddit to find out the comments and feedback from users. One of the first comments we see on the page is from a user by the name Ben Huebner. The problem he saw with the platform is the execution of the services. He states that the platform uses complex ideas to try and sell their platform. One of his complaints was in regards to the Etherium balance. He feels that they should disconnect the spectre balance from the Etherium value. There are many tokens on the platform that Ben feels are confusing to users. Another problem is its interface, which is not easy to use.

Compliance, license, and registration of Spectre

Spectre. SIPI Program

Spectre is a platform that is licensed in St. Vincent and the Grenadines. Their license number is 25113 IBC 2018. The platform is based in a country whose regulations are seen as weak when it comes to trading. These countries are seen to be a haven or fraudulent brokers who want to steal from users. A broker from Bermuda, Bulgaria, Marshall Islands, St. Vincent and the Grenadines, and Seychelles should be treated with extra caution. These countries only care about license fees and not protecting the trader.

Without a valuable license from regulatory bodies such as CySEC, FCA, and NFA, it is hard to recommend it. The good news is that the platform does indeed allow chargebacks. For investors who have lost more than $5,000, they should fill in a form. It remains to be said that this is a high amount to lose. Members who lose fewer amounts with the platform are not likely to recover their funds. And this is the primary reason why regulation from a reputable institution helps protect investors.

Domain information

According to the domain checker, the site has been live since 2017. The site went live on 15th December 2017, which makes it over 900 days old. Their servers are located in California and have made two changes on three different servers. And this goes to show that the platform has been in existence for a while. The problem with this platform is that it has failed to get a lot of traction. Not many users are keen on signing up with a platform that only settles for one Crypto asset.

Features of Spectre

The platform uses a unique digital crowd supported balance sheet model that allows 24/7 trading. It also has onboard risk management settings that include capital protection and early closure. They also use Special Utility Tokens SXUT, which is an inter-currency based privileged enabler. Investors with this token can get more assets and higher payouts. There is a range of other benefits when it comes to SXUT. The platform also has the broadest asset range, which includes Bonds, CFDs, EPICS, Equities, Indices, and more.

Gains and losses with Spectre

Available incentive program

Spectre is offering users an incentive program duped SIPI. The program aims to supplement weekly trading income by offering a $1,000 cash boost. At the end of the year, traders can unlock the biggest bonus of $50,000. The contest is available to all members, and the last posted winner was Dudi. There have been three winners in August 2020, according to their SIPI page. The chance to take part in this program ensures no registration of multiple accounts. It is not allowed.

Earning mechanism by the platform

They have clearly stated that the platform earns through the volume of trades placed by members. The platform takes 2 percent of the value of the deal. A member who is a two token holder gets 2 percent, which is distributed via the platform’s wallet. With this platform, trading is generally a zero-sum game. It means that a trader with wins will make the pool suffer a loss. If a trader loses the contract, the pool makes a gain. For a year of trading, the platform would earn 30 percent and the member 70 percent.

Trading results

With all their potential, the platform fails to share their trading results with anyone. They even fail to share a link of their blockchain, which would have proved their capabilities. And this is where we have to urge crypto enthusiasts to be alert. Without actual and valid results, they seem to be selling a simple idea. And this is why we insist on getting comments and tangible results from members who have won. With three years of online presence, there must be a user who posts the results, either positive or negative.

Scam or legit Spectre

Spectre is a game-changer when it comes to online trading. They have made it possible for users to go for Etherium based trading. The platform has the potential to be disruptive in the Crypto trading industry. Some problems need to be addressed by the developers. Regulation is one of them and proof of concept. It is nice to hear that the platform is looking to get approval from the FCA. Until this happens, their offshore license is not enough for us to recommend it to users.

Closing remarks

With the platform likely to face some regulatory hurdles, it is better to choose other alternatives.

Crypto investors and traders have the chance to utilize the best crypto trading robots available. These robots have the opportunity to make users reasonable profit margins. It is what most successful online crypto traders are using to get ahead of the trading world. Use these reliable robots that protect your investment at all times. They have the backing of experts and the trading community.

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