The FX options overview
The FX options are the Forex options exchange options which means they are the contracts for the exchange of the currencies. The contract allows you to trade one currency for another at a specific time at a fixed rate.
You can choose between two kinds of the FX options. The first one allows you to buy a particular asset and is called a CALL option. The second one is known as a PUT option and carries the right to place the sell order.
Trading the FX options on the Binomo platform
To trade the FX options you must follow a few steps. First, you need to determine how much you would like to invest in this particular transaction. Write the correct amount in the top right field or use plus/minus buttons. Then, decide on the expiration time for your option. Again, you may use plus/minus keys or choose an exact time after you click on the Time window. The last step is to decide which type of the FX option you are going to trade. Choose the green button for a call option and the red one for a put option.
Once you open the trade, you will see the remaining time and the expiration time on the chart. The red vertical line represents the end of your transaction.
In the top left corner of the Binomo platform, you will find the clock icon. You can review all your opened transactions there. You will see all the details about your trade that is what the currency pair is, how big the investment is, when the entry took place and when the trade is supposed to finish. Moreover, you will get a preview of the expected profit.
The Forex options exchange options gain popularity every day. Learn more about them and give them a try on the Binomo demo account. This is a place where you can open risk-free transactions so you do not have to worry about losing your money. This is a place where you have an amazing opportunity to practice different assets, to find out which hours suit best to your trading style or to perfect your strategies. Make good use of this practice feature. Let us know if you have some experience trading the FX options. You may also ask your questions in the comments section down below.
Enjoy your trading!
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