This is an option that has two possible outcomes in-the-money or out-of-the money. The payout (usually 60% to 90%) is determined at the onset of the contract, if the option expire in-the-money it pays a fixed amount of cash. Read more
What is binary option?
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Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.