The Benefits of Spectre Explained
Spectre, or to give it its full name, Speculative Tokenized Trading Exchange is an online trading platform. But how does Spectre stack up to other financial trading platforms such as binary options and forex trading. Below we take a look at the benefits of using Spectre, and the benefits of this speculative tokenized trading exchange.
Online Trading Options
So before delving into the benefits of Spectre let’s first take a look at a couple of the established online trading platforms available starting with binary options and how they work…
What are Binary Options?
A binary option is where there is either a fixed payoff or nothing at all. Other names for binary options include FRO (fixed return options) and all or nothing options. The biggest pitfalls with this option in recent years is that they have been notorious as targets for scammers and “fake” brokers, in fact the FBI estimate scammers and fake brokers use this system to steal over ten billion US dollars a year for unsuspecting customers!
What is Forex Trading?
The other financial trading option is Forex trading or to give it its full name Foreign Exchange Trading, also known as currency trading. With Forex Trading this is based on the strength of currencies against each other. So, for example the US dollar against the GB pound. Ideally buying a currency when it is weaker against one of its counterparts and selling it when it is stronger to make a profit. Unfortunately, with Forex Trading, there is an element of high risk, however unlike binary options, it is not an all or nothing trading platform.
The Benefits of Spectre
The immediate key benefit of Spectre is the fact it uses a decentralised and autonomous liquidity pool. This immediately puts it ahead of Binary Options as there are no brokers involved, cannot be manipulated and provides a much safer and more secure trading platform. The pool is owned by investors of tokens on the Ethereum blockchain system. Because Spectre is a broker-less financial platform, it is genuinely a fair play trading solution. SO if you are looking for a safe, secure trading platform without the risk of scammers and fake brokers then Spectre should be your first consideration.