I have investes in two other ICO's relating to Binary Options. And I have regretted this very much. These binary ICO's are popping up every day. Newest I think binary.com
So after investing I looked (to late) into this business and the potential.
THIS SPECTRE PLATFORM WILL NEVER WORK !! (of course they do not care, only if the ICO works)
1. They say they will apply for a EU license
The 1st of January MIFID II will get in effect, meaning 95% of all EU countries will ban Binary Options. So this license is worthless. It can only be used in the EU.
US, Canada, Brasil and many other countries and continents have already stated that offering Binary options is illegal. Binary Options are dead !
>> clearly no real research was done or ignored
2. Financial statement is total guess work (or just pumped up for this ICO)
All other Binary ICO companies have set out income and cost of running a binary platform.
Running such a platform cost a lot of money (especially marketing) and this all going to be paid for with a 2% margin , get real !
They state a client value of 2500, this is absurd. Not even the largest Forex brokers have such a value. Traders putting 8 trades every day ?? They do not go on holliday or take a break or stop trading...?
>> this team has no experience and is making up numbers
3. NO CONFLICTOF INTEREST ??
Spectre is no broker, but it sure as hell is a counter party of their traders! Traders loose and the company wins.
If clients win, this Holy Grale (the liquidity pool) is going to get empty and this means no income for the company (or token holders) , so what is keeping them from rigging the platform ?
They say all brokers are scammers (which is true). But where do they get this winrate of 52% (needed for them to make a profit). This company has no experience in running a binary company, so these numbers come from other brokers (correct: scam brokers) And why is the win rate so low, because if the broker does not scam, the winrate will be much higher!
4. Make a choice , token holders or traders !
Spectre is promoting the platform to traders and pretending that they will offer all the tools to be a successful trader. This is great ! For the traders, but not for the shareholders (clients need to loose to make money)
On the other side they promote ICO investors that they are going to offer a profitable trading platform, in which clients will loose on average 2500€ ..
So What is it ?
What is your goal, make us rich or make traders rich !
the only way both parties can profit if you are a REAL BROKER. A real broker earns on commissions, which means the more positions a traders opens the more commission you earn as a company and now you want the trader to win, as you will want him to place more trades
Great company to set out an ICO and not saying it is a scam, but they have no idea what they are doing and have no experience. (look at the team) and this platform will go bust on traders winning (thats what you want, right? )
All of the points raised here are extremely valid and should be addressed here.
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