We suspected that Spectre ai is not a legit broker. As soon as we found complaints from clients, we know we had a case on our hands.
After doing some research, we came across some evidence of fraud regarding this offshore business. It’s all here, in our detailed Spectre ai Review.
Spectre Trading Limited, the company behind this brokerage, is registered in the offshore domain of Saint Vincent and the Grenadines (SVG).
It’s much safer to trade with a licensed broker that operates under a reputable jurisdiction such as the European Securities and Markets Authority (ESMA), the US CFTC, Australia’s ASIC, Japanese FSA, Canadian IIROC, etc.
This part of our review will focus on where Spectre ai was active. Where has this illicit broker tried to find clients? Here’s a list of countries:
Although there are some positive reviews of Spectre ai on Trustpilot, we did find complaints as well. As soon as we see complaints against the broker, we know something is up.
These negative reviews are pretty lengthy so we’re going to chop them into the most important bits. Please take these warnings into account before investing to trade in this brokerage.
Up until today, very good and as they say, ‘Fraud free’. But after several wins in a row, I make a 60 second buy trade on the EUR/USD and it is entered 50 pips above the current price – obviously resulting in a loss when it should have been an easy win. Yes, that’s 50.0 pips, not 5 pips!
Update 5th May. Sadly, the response was basically telling me if I don’t like it, go elsewhere! They say ‘Fraud Free’ but they certainly defrauded me and I’ve been making a living as a trader for over 12 years.
About its trading platform, Spectre ai said that “by utilizing cutting-edge, crowd-sourced technology, Spectre.ai matches traders against an embedded liquidity pool or other traders on the Spectre trading platform.”
It seems that Spectre ai offers a web-based platform that can be integrated with the famous MetaTrader 4 platform. And since the platform is online, it can be accessed via a mobile app, available for Android and iOS.
The trading interface features trading charts, indicators, and elementary graphs. Traders can choose between 28 currency pairs, chart times, and a daily chart. While this platform seems promising, it still cannot compensate for the fact that Spectre ai is unlicensed.
According to the broker’s website, traders can trade the following assets:
Based on some sources, the average spread for FX major pairs is around 0.58 pips. For GBP/USD, for example, the spread is around 0.9 pips.
However, the trader’s complaint we posted warns about much wider spreads. Much, much wider – 50 pips! Given that the industry’s standard is 1.5 pips, you’ll gain an understanding of how crazy that is.
Surprisingly, Spectre ai does offer a risk-free demo account. The broker provides traders with over 200,000 $ in virtual funds for training.
A demo account is always good news but the problem arises when you switch to a live account. Offshore brokers tend to offer demo accounts to lure traders and present their business as legitimate. Be careful, should you decide to trade with Spectre ai.
The minimum deposit is pretty low. If you’re a fan of gambling, then you may get a kick out of Spectre ai’s high leverage (1:500). And yeah, there’s a demo account. We cannot possibly think of any other advantages.
As for the cons, i.e. negative sides, there’s an abundance of them. This whole review is full of them but if we had to choose one reason why we wouldn’t trade with Spectre ai, it’s definitely the lack of a trading license.
Spectre ai listed a wide range of payment methods that can be used for deposits and withdrawals:
The minimum deposit is 10 $. Spectre ai’s withdrawal policy, albeit scarce, states that there are zero fees for both deposits and withdrawals. The processing time takes up to 48 hours.
If you have evidence that Spectre ai violated any terms and conditions, please share it with us. We will gladly report the scammer to the authorities.
As for your lost money, Global Fraud Protection can be useful in getting it back. Our experts specialize in bank chargebacks and recall. In case you need to trace the crypto assets you sold, our team will do it for you using CipherTrace.
If this broker steals your money, contact us for help. The easiest and fastest way to get in touch with us and book a free consultation is via Online Chat.
No. Spectre ai is not licensed to provide Forex trading services. We don’t recommend you invest to trade with this broker.
The minimum deposit that Spectre ai requires you to pay is 10 $.
According to Spectre ai’s website at the time of this writing, crypto and FX trading is available and CFDs are not.
No. Spectre ai is not licensed to provide Forex trading services. We don’t recommend you invest to trade with this broker.
The minimum deposit that Spectre ai requires you to pay is 10 $.
According to Spectre ai’s website at the time of this writing, crypto and FX trading is available and CFDs are not.
The post We Have Outlined Our Doubts In the Spectre ai Review appeared first on Global Fraud Protection.
