Offshore forex brokerage FXCL Markets, trading as FXCL, increased on Monday the payout for binary options instruments to up to 120%. Previously, the maximum available payout was 100%.
In addition, the broker has expanded its binary options offering and has extended the available timeframes, FXCL said without providing details.
Trading in binary options is accessible to FXCL clients with any of the five trading accounts the broker offers – Mini, Micro Cent, ECN Light, ECN Interbank, and ECN Plus. In addition to forex, binary options trading is automatically available with any of these accounts. For binary options, traders are not charged any fees or commissions.
In binary options trading, investors guess whether the price of a certain instrument, in this case currencies, would go upwards or downwards within a pre-determined time frame. Once the time is up, the option is deemed expired and the bet is settled. Depending on the outcome, a trader either collects a profit, or loses money.
FXCL’s clients can choose between four types of binary options:
- call/put options– traders make a prediction whether an instrument’s price would close below or above the open price;
- one-touch options – traders make a prediction whether an instrument’s price would reach a certain boundary above or below the open price;
- spread options – traders make a prediction whether an instrument’s price would close below or above the price provided by the platform at the moment of expiry;
- range options – trades make a prediction whether an instrument’s price would remain in a given price corridor or leave it.
FXCL specializes in forex trading and offers its services to clients in more than 50 countries worldwide. In addition to Binarystation, the broker also supports the industry leading forex trading platform MetaTrader 4 (MT4).
The broker holds a license by the International Financial Services Commission (IFSC) in Belize, which is known as an offshore destination for forex and binary options brokers.