Frequently Asked Question (FAQ) of Trading in Spectre.ai

Frequently Asked Question (FAQ) of Trading in Spectre.ai


Spectre.ai General


What is spectre?

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. spectres 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.


What is the blockchain and how does spectre interact with it?

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. Traders fund their Ethereum accounts (the crypto-currency in which trades are taken) either in an on-site trading account or offsite in any recognized Ethereum wallet. When a trader is trading from an off-site Ethereum wallet directly, they incur gas costs for every trade (which are a payment to the Ethereum blockchain to process each trade) and only their trading amount for the said trade sits on a smart contract until it is settled. At no time do any funds (either those in the users own wallet or those committed to a trade) ever fall in the hands of a 3rd party, resulting in truly decentralised trading. If they decide, however, to trade from their onsite account, they park capital with Spectre, thus dramatically reducing any gas related fees, but can only withdraw gains every 24 hours.
 

Does spectre have an api?

Yes, and it is available on https://developers.spectre.ai/ .


Do you have an app?

Yes. we offer trading via mobile phone. you can download it here.


Does spectre offer an affiliate program?

Yes, this can be accessed here.


What kyc information does spectre collect?

For the account to become fully verified, all users need to upload proof of identity, proof of address (issued in the last 90 days) and a clear selfie of themselves holding the provided proof of identity.


What are my system requirements?

A modern computer and internet browser with a high speed internet connection or a modern android mobile device.


What does defi stand for?

Defi stands for decentralized finance.


What is defi?

Defi is a concept that describes financial services that are built on top of blockchain technology. it includes creating transparent and permissionless financial services eliminating the involvement of any central authority. users have complete control over their assets and, because the data is recorded on the blockchain in the form of nodes, it is impossible to alter the data.


What is the defi boost wallet?

The defi boost wallet account allows you to use any of the available defi coins offered in order to deposit/withdraw and also trade with. please note that any funds deposited in this account are not converted into a fiat currency (for example usd) and are held and traded by you in their original form.

Spectre.ai Accounts


What about currency volatility?

Spectres liquidity pool is a mix of eth and fiat currency. your funds are translated into fiat upon deposit, should you choose the on-site accounts, while when you trade from your off-site wallet account you transact solely in eth. therefore there is no currency volatility risk on that front. however, when there is a conversion from a cryptocurrency to fiat currencies like usd and vice versa, then you will be subject to exchange rate movements.


Is spectre available in multiple languages?

Yes. the spectre trading platform is currently available in english, indonesian, vietnamese, japanese, chinese, portuguese, spanish, and turkish. additional languages will become available soon and you will be able to select them inside your account settings.
 

Can i use spectre with a demo account?

Yes.


Do you charge a fee for inactive accounts?

No.
 

I have forgotten my username/password. what should i do?

You can use the forgot password function on the spectre platform sign-in page.


I am having difficulties setting up an account in spectre, help?

Contact [email protected] and a member of the support team will assist you.


Spectre.ai Trading


What is the source of asset prices on spectre?

For fx, metals and other real-time assets, prices are obtained from real-time api data provided by prominent data providers such as forexfeed and xignite. for epics and reverse futures, historical audited data on euro baskets and equities is obtained from major stock exchanges such as lse, nyse and/or historical intraday data providers. for digital assets, data is aggregated from the top 25 exchanges as found on coinmarketcap (eg. kraken, coinbase, huobi via api) and streamed live on the platform, rotationally. for erc-20 based tokens, data is also collected from uniswap and cross referenced from chainlink.



What contract types do you offer on spectre?

We offer digital contracts, which are non-cash settled* and can be settled prior to expiry for profit or structured easily by the trader such that the downside is not zero but any figure they like. furthermore, they can be traded in a fully secure manner using our digital wallet account without having to make a deposit anywhere. digital contracts can also be settled in cash should the trader wish.

As for our zero leverage digital cfds, they allow the trader to make gains or losses each time the price of an asset moves up or down incrementally. there are no expiries associated with this type of contract, only a daily fee of 1 pip on open positions. neither contracts involve any margin or leverage and the trader is aware or sets how much they are willing to win or lose, prior to entering the trade.


what assets can i trade on spectre?

All major currencies, digital assets, epics, reverse futures, and eventually the entire gamut of asset classes. visit our assets page to view the full asset list and payouts offered.


How much money do i need to have in order to trade on spectre?

Minimum deposit amount depends on the payment method used, but generally for regular accounts, the minimum deposit is $10 and minimum trade size is $1.00. for a wallet account where no deposits are needed, the minimum trade size is $50.00. we strongly advise starting off with small amounts as financial trading is risky, despite being rewarding.

Does spectre offer signals or auto-trading?

Spectre offers educational trade indicators that find potentially profitable chart setups. however these are not considered investment advice, they merely locate possible opportunities.

 

What are payouts and spreads like?

Payouts on digital contracts range from 5%-200% depending on asset, expiry and time of day. spectre.ai allows spread-free entries on most assets and expiries where indicative entry price (iep) is in-line with spot price. however, for periods of very low liquidity such as 8pm-midnight gmt or on exotic products such as microexpiries of 10-30 seconds, 0.2 pip spread on 5 minutes expiries and a small spread on entry of between 0.1-0.9 pips may also be applied.
 

My spectre is not functioning, do you offer support?

Yes, contact [email protected] with your query and a member of the support team will assist you.
 

Can i connect my mt4 to my spectre?

Spectre will offer this capability in 2021.
 

What is the maximum trading amount per transaction?

The current maximum trade size is $1,000 per trade, which can be increased to $2,000 with the "jumbo trades" privilege in traders bay.
 

Why does the indicative entry price (iep) differ from the spot price at times?

The indicative entry price (iep) may differ from the spot price received from the quote feed provider (seen on your live chart) during times of low market liquidity or micro expiries of under 30 seconds. if a difference exists, this is in the range of 0.1 to 0.9 pips depending on market conditions. 90% or more of trade entry prices in the platform have no spread and the spot price is the iep.
 

What defi coins do you currently support?

We currently support snx, knc, band, link, usdc and pax. we will be adding more defi coins in the coming months, including our very own sxdt and sxut.


Can i exchange one defi coin for another?

No, you cannot exchange any part of your balance from one defi coin to another, as this is not an exchange account.
 

Can i abuse the spectre.ai trading system?

Wallet accounts which are decentralised give the user a few seconds before they wish to commit funds to a trade so that the trade gets mined in time, on the blockchain. users may abuse this facility, however, for short duration trades to see where the price is headed and if it is headed in their direction, may enter but may not enter if it is headed against their desired direction. the system picks up this activity as this is considered manipulation, warns the traders about doing so and should the users persist, then the accounts may be banned. apart from this, accessing spectre.ai by multiple people under the same kyc authorised account either under the same i.p or different i.ps (with the view to circumvent our country restrictions) is strictly prohibited. more than 10 trades per minute initiated using mt4 bridges or any other non-api gateways will be considered as high frequency trading and they are strictly prohibited.


Spectre.ai Withdrawal


What is your withdrawal policy?

For traders trading using the onsite trading account option, withdrawals may take up to 24 to 48 business hours to be processed based on the activity and balance of each user. extra time may be added based on the payment method selected, for example credit card processing usually takes longer than electronic payment methods. 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.


Do you charge a fee for withdrawals?

No, we do not charge fees for withdrawals. however, uphold and the several payment solution providers may have their own associated fees when transacting via them.
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