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

FX Binary Ladder/One Touch

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 end of the day (Japan time).

One Touch (One Touch Options) is a type of Binary which provides you with a range of levels of prices such as “Touch Level XXX” lined at equal intervals either side of the market, for the underlying market to trade at or through this level up to the end of market trading.

The details of our Stock Index Binary Options contracts are given in the following table:

FX Binary Ladder/One Touch: Information 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, USDJPY100.000 will be shown as 10000.0.  When a price of a relevant underlying market rounded to the whole number is equal to a level of set price shown as “Up more than XXX”, it will settle as Up (100).
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. FX Binary Ladders settle basis the achievement of specified price changes in the spot rate concerned at 20:00Japan time each day. The level used for settlement will be the first print recorded by Bloomberg (E&OE) at 20:00 Japan time for the relevant currency pair. Your realized profit or loss will be booked and reflected to your account as required at anytime approx. 20 minutes after the closing.
6. FX Binary One Touches settle basis the achievement of specified level being reached (either touched or traded through the level) in the underlying spot rate. If the chosen level is touched or traded through then the market settles at 100 if it’s not hit by expiry then settlement is at 0. The market level used for settlement will be prints recorded by Bloomberg (E&OE) throughout the day up to and including the first print at 20:00 Japan time for the relevant currency pair. Your realized profit or loss will be booked and reflected to your account if and when your level has been hit intraday (allow a couple of minutes processing) or settled on expiry anytime approx. 20 minutes after the closing.
7. Dealing starts at 21:00 of the day before expiry day and closes at 20:00 on the expiry day. However, dealing in pre-holidays such as Friday will close at 20:00 then the next dealing will start in principle at and after 08:00 of the following business day, provided that this may vary depending on the actual situation of the underlying market.
8. Times shown in the table are Japan local times, unless otherwise specified.
9. 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.