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Swiss forex bank Dukascopy Bank has increased the minimum duration for up/down binary options on certain major forex pairs, it said on Tuesday. The bank has set the new minimum to three minutes from the previous one minute.
The new conditions apply for EUR/USD, USD/JPY, GBP/USD, USD/CAD, AUD/USD, EUR/JPY, USD/CHF, and GBP/JPY pairs. The broker changed the expiration of the same instruments just last month.
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.
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.