Saxo Bank Introduces Binary Touch Options
The world of binary options is growing rapidly. We now see one of the bigger institutions step into this field. Danish Saxo Bank launched binary touch options on selected currency pairs.
The pairs that are available are EUR/USD, USD/JPY, GBP/USD, EUR/JPY, EUR/GBP, and AUD/USD. The new options will be available through Saxo Bank’s FX Options Board.
This is currently limited to touch options and to only 6 forex pairs. Yet this is a first step of a well established institution into these waters. This helps legitimize this new financial instrument and help the whole industry mature.
Forex Magnates reports that this product will be very useful in volatile times like these. Currencies, commodities and stock markets are trading in a very volatile manner after the US got a downgrade from S&P.
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