What is a Binary Option
A binary option is a derivative financial product with a fixed (or maximum) payout if the option expires in the money, or the trader losses the amount they invested in the option if the option expires out of the money. The success of a binary option is thus based on a yes or no proposition, hence “binary”. Binary options have an expiry date and/or time. At the time of expiry, the price of the underlying asset must be on the correct side of the strike price (based on the trade taken) in order for the trader to make a profit.g
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