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Swiss forex bank Dukascopy Bank said it has changed the minimum duration for up/down binary option instruments. The minimum duration time varies for the different underlying instruments.
The minimum expiration time for binary options on forex currencies is one minute for most majors and 10 minutes for other pairs, according to data provided on the bank’s website. The maximum contract duration remains 24 hours. Dukascopy Bank expanded in April last year the expiration period for binary options of the up/down type to a day from 60 minutes. However, the maximum possible duration is only available if the option is set right after the settlement time.
Following is the default contract duration time for some forex binary options:
Traders can choose themselves the duration of each contract in binary options. The time is decided preliminary for each deal. In addition, Dukascopy Bank might additionally apply individual limits on contract duration for separate trading accounts.
Traders should take into account that to each non-pending binary option order is applied a 2-seconds countdown period prior to starting the execution. This means that if an option has a duration of one minute and is opened at 12:00:00, its execution would actually start at 12:00:02 and expire at 12:01:02.
Dukascopy Europe is the EU-regulated unit of Swiss forex bank Dukascopy Bank. It was acquired by the bank in May 2011. Dukascopy Europe provides access to forex, bullions, binary options, contracts for difference (CFDs), as well as to the Swiss Foreign Exchange Marketplace (Dukascopy Forex trading platform) on the same conditions which are available to the clients of Dukascopy Bank, thanks to a white label agreement with its parent.
Dukascopy Bank is licensed as a bank and as a securities dealer by Switzerland’s Financial Market Supervisory Authority (FINMA). It was set up in 2004 and is based in Switzerland’s Geneva, but also operates globally through offices in Zurich, Riga, Kiev, Moscow, Kuala Lumpur and Hong Kong.