Contract Details: Metals Binary | CFD | CFD Trading | Contracts for Difference

Metals Binary Ladder

Ladder (Ladder Options) is a type of Binary which provides you with a range of levels of prices such as “Up more than XXX” or “Down less than XXX”, lined at equal intervals like a ladder, for a binary to finish higher or lower than at the expiry of the underlying contract.

The details of our Metals Binary contracts are given in the following table:

Notes to table

Binaries are cash settled and cannot be exercised by or against you or result in delivery of the underlying security. NOTE: This product is referred to in the Product Disclosure Statement as a Binary Option.

1. The price quotation for each Binary is expressed in points. If the outcome described by the Binary such as "Up more than XXX" occurs, that Binary will settle at 100. If it does not occur, the Binary will settle at zero. Therefore, when you buy a Binary with an expectation that the closing price will be above the level you chose, and if the event occurs, your profit would be calculated as "100 - Buying price", while if the event does not occur, your loss would be calculated as "0 - Buying Price". On the other hand, when you sell a Binary with an expectation that the closing price will be less than the level you chose, if the event occurs your profit would be "Selling price - 0" while if the event does not occur, your loss would be "Selling price - 100". You can also make a crossed trade before expiry and in that case your profit or loss would be calculated as "Selling price – Buying price".
2. The dealing spread will vary according to the level of the price quotation and the time to expire. Spreads may widen substantially in the last 15 minutes of trading, and some Binaries may trade on spreads as much as 20 points during this period.
3. For the purpose of Binaries, the prices you will find in the platform will be shown in different ways from normal market prices. For example, NYMEX 78.13 will be shown as 7813.0.
4. The margin required for a Binary or collection of Binary on a given market will be equal to the maximum potential loss from that Binary or collection of Binary.
5. US Light Crude Oil Binaries are normally quoted until 5 minutes before the close of the Crude Oil futures on NYMEX. Binary Ladders are closed basis the official daily settlement price of the Crude Oil futures as reported by NYMEX. Binary One Touches are closed basis any print on Bloomberg up to times shown, note does not include the official expiry level.
6. Gold Binaries are normally quoted until 5 minutes before the close of the Gold futures on COMEX. Binaries are closed basis the official daily settlement price of the Gold futures as reported by COMEX.
7. Silver Binaries are normally quoted until 5 minutes before the close of the Silver futures on COMEX. Binaries are closed basis the official daily settlement price of the Silver futures as reported by COMEX.
8. The official contract month for settlement of Binaries based on a future contract is the current or near quoted month. This is subject to change 1-2 days prior to the expiration of this contract month due to liquidity reasons. Please check Get Info or verify the underlying level for which month is being quoted.
9. Times shown in the table are Japan local times, unless otherwise specified.
10. When you trade in a currency other than your base currency your profit or loss will be realized in that currency and will be booked to you account in that currency. As a default, we will automatically convert any positive or negative balance on your account in a currency other than your base currency to your base currency, by applying a relevant conversion rate calculated based on our standard rate and given costs.