Copenhagen/Zurich - Saxo Bank, the specialist in online trading and investment, today announced the launch of six Binary Touch Options on its trading platform. The Binary Touch options will initially be offered in six currency pairs; EURUSD, USDJPY, GBPUSD, EURJPY, EURGBP, and AUDUSD. They will be tradable from Saxo Bank’s award winning FX Options Board, where clients are already able to trade regular FX Vanilla Options.
• Saxo Bank launches “Touch” and “No-Touch” Binary Options on six of the most liquid currency pairs.
• FX product offering now includes FX Spot, Forwards, Vanilla Options and Binary Touch Options.
The launch will further extend Saxo Bank’s FX offering and allow clients to trade in the world’s most liquid financial market in a simple and convenient way. A Binary Touch Option differs from a plain Vanilla Option in that the potential gains and losses of a Binary Touch Option position is known upfront, thus greatly simplifying the transaction. Clients may invest not only in which direction the price will move, but at the same time express their views on how far and over what time period.
Unlike other platforms that offer similar products, Saxo Bank will offer its clients the ability to close-out their long or short positions at the current market price prior to expiry.
Gustave Rieunier, Global Head of FX Options & Forward Trading at Saxo Bank, says:
“Adding Binary Touch Options trading to our platform bridges the gap between FX Spot and FX Vanilla Options and meets the recent demand in the market for wanting to trade in the global currency market in a simple, straight forward manner. Whether you are a seasoned FX trader or new to investing in currencies, this is an excellent way to add FX exposure to your portfolio.
“Saxo Bank has developed into one of the top market makers in the global FX Options space. Adding such a simple and straight forward product to our strong liquidity and award winning pricing capabilities is another significant improvement to our FX offering.”