There is low commission to pay on our binary trading; the only charge is $15 per side.

Binaries are a special form of instrument with an 'all or nothing' payment profile.

Binaries allow you to trade on discrete financial events and only ever have two outcomes, either settling at 100 or 0. For example, we might be quoting a Binary on whether Wall Street will settle up on the day. If the event occurs (in this case, Wall Street settling at a higher price than the previous day's close) the Binary settles at 100, if it does not the Binary settles at 0. These are the only two possible settlement prices.

Full details of the Binaries we offer can be found in the information tables for Binaries: Indices and Binaries: Others .

Please note that the time at which a Binary Settles is often expressed in the name of a product. For example, 'Wall Street 18.00 Up/Down'. For ASX Binaries the time is Australian Eastern Standard Time. For all other Binaries the time is London time.

Stock Index Binaries

The details of our Stock Index Binary contracts are given in the following table:

Binaries Information Table

Notes to table

Binaries are cash settled and cannot be exercised by or against you or result in delivery of the underlying security. NOTE: This product is referred to in the Product Disclosure Statement as a Binary Option.

1) The price quotation for each Binary is expressed in points. If the outcome described by the Binary occurs, that Binary will settle at 100. If it does not occur, the Binary will settle at zero.

2) The dealing spread will vary according to the level of the price quotation and the time to expiry. Spreads may widen substantially in the last 15 minutes of trading, and some Binaries may trade on spreads as much as 20 points during this period.

3) For the purpose of Binaries, the Wall Street, NASDAQ, S&P, DAX, KOSPI, Nifty Fifty and Straits Times Index prices will be rounded to two decimal places. FTSE, Nikkei and Australian Stock Index prices will be rounded to one decimal place. Hang Seng and TaiEx prices will be rounded to the nearest whole number. If a market settles exactly on a Binary barrier after such rounding, that market will be taken to have settled above the barrier for the purposes of settlement. For example, if Wall Street closes exactly 20 points down, the Wall Street to finish down 0-20pts will settle at 100 and Wall Street to finish down 20-40pts will settle at 0.

4) The deposit required for a Binary or collection of Binaries on a given market will be equal to the maximum potential loss from that Binary or collection of Binaries.

5) The ASX 200 index usually closes at 16.00 Sydney time. Trades will be settled basis the official settlement of the index. This settlement is usually announced approximately 15 minutes after the close of the market and may differ from the market level showing at 16.00 Sydney time.

6) Daily Wall Street Binaries are quoted from 1 hour after the previous close until 1 minute before the next close of the underlying market. The underlying market normally closes at 16.00 (New York time). Note that all trades will be closed basis the official daily settlement. This settlement may not be posted until several minutes after the close of normal trading each day, and can differ from the 16.00 price of the underlying index.

7) Daily S&P 500 Binaries are normally quoted from 1 hour after the previous close until 5 minutes before the close of the S&P 500 index. The S&P 500 index normally closes at 06.00 Australian Eastern Standard Time, although this is subject to change with daylight saving. Note that trades will be settled basis the official settlement level of the index. This official settlement is not announced until several minutes after the close of the market and may differ from the market level showing at 06.00 (AEST).

8) Daily NASDAQ Binaries are normally quoted from 1 hour after the previous close until 5 minutes before the close of the NASDAQ 100 index. The NASDAQ 100 index normally closes at 06.00 Australian Eastern Standard Time, although this is subject to change with daylight saving. Note that trades will be settled basis the official settlement level of the index. This official settlement is not announced until several minutes after the close of the market and may differ from the market level showing at 06.00 (AEST).

9) Daily FTSE Binaries are normally quoted from 30 minutes after the previous close until 1 minute before the close of the underlying market. The closing time for the FTSE is normally 16.30 London time. Note that, although the UK market typically closes at 16.30, all Binaries will be closed basis the official daily settlement, which is in turn dependent upon the daily closing auction. This official settlement price is typically made public around 5 minutes after the close of normal trading each day, and can differ from the 16.30 price of the underlying index.

10) Hang Seng Binaries are normally quoted until 1 minute before the close of the Hang Seng Index futures on the Hong Kong Futures Exchange (HKFE). The closing time for the Hang Seng Index futures is normally 16.15 Hong Kong time. All Binaries will be closed basis the official daily settlement price of the Hang Seng Index futures as reported by HKFE.

11) Nikkei Binaries are normally quoted during the trading session of the underlying Nikkei 225 futures contract on the Singapore Futures Exchange (SGX) which is 07.45-14.30 (Singapore time). Nikkei Binaries can be traded 10 minutes after the opening of and up until 5 minutes before the close of the Nikkei futures on the Singapore Futures Exchange (SGX) and settle basis the official daily settlement price of the Nikkei 225 futures as reported by SGX. We do not quote Nikkei Binaries during the SGX mid-session break (10.15-11.15 Singapore time) and restart quoting prices 1 minute after the restart folowing the break.

12) KOSPI Binaries are normally quoted until 10 minutes before the close of the KOSPI 200 Index futures on the Korean Futures Exchange (KOFEX). The closing time of the KOSPI 200 Index futures is normally 15.15 Busan time. Binaries are closed basis the official daily settlement price of the KOSPI 200 Index futures as reported by KOFEX.

13) Weekly Wall Street Binaries are normally quoted from the opening of our UK office on a Sunday night at 23.00 London time until 1 minute before the close of US trading on the last US trading day of the week.

14) Weekly FTSE Binaries are normally quoted from 23.00 London time on Sunday evening until 1 minute before the close of the FTSE 100 on the last London trading day of the week.

15) Daily DAX Binaries are normally quoted from 1 hour after the previous close until 1 minute before the close of the underlying market. The underlying market normally closes at 17.30 Frankfurt time. Trades will be settled basis the official settlement level of the index. This official settlement may not be announced until several minutes after the close of the market and may differ from the market level showing at 17.30 Frankfurt time.

16) Midday FTSE Binaries settle basis the achievement of price changes in the cash FTSE from the previous official settlement to the first new print recorded by Bloomberg (E&OE) at 12.00 London time. Trades will be accepted from 17.00 London time of the previous trading day until 1 minute before expiry.

17) 3pm FTSE Binaries settle basis the achievement of price changes in the cash FTSE from the previous official settlement to the first new print recorded by Bloomberg (E&OE) at 15.00 London time. Trades will be accepted from 17.00 London time of the previous trading day until 1 minute before expiry.

18) Hourly FTSE Binaries settle the basis of achievement of price changes in the cash FTSE from the first new print recorded by Bloomberg (E&OE) at the first named time to the first new print recorded at the second named time. For FTSE previous close to 9am the change is measured from the official settlement in the previous day's market to the first new print recorded at 09.00 London time. All times for Hourly FTSE are London times. Trades will be accepted until 1 minute before the second named hour. Trading for the following day begins 5 minutes after the second named hour. For FTSE previous close to 9am, trades will be accepted from 30 seconds after the opening of the underlying market. The opening time for the FTSE is typically 08.00 London time. For all other Hourly Binaries there is a gap where trades will not be accepted that starts 2 minutes before, and finishes 2 minutes after, the first named hour. Note: Handicap trades on hourly markets will only be accepted during the relevant hour.

19) 1pm Australian Stock Index Binaries settle basis the achievement of price changes in the cash ASX 200 index from the previous day's official settlement to the first new print recorded by Bloomberg (E&OE) at 13.00 Sydney time.

20) 18.00 Wall Street Binaries settle basis the achievement of price changes in the cash level of Wall Street from the previous official settlement to the first new print recorded by Bloomberg (E&OE) at 18.00 London time. Trades will be accepted from 1 hour after the closing of the underlying market of the previous trading day until 1 minute before expiry.

21) Hourly Wall Street Binaries settle the basis of achievement of price changes in the cash level of Wall Street from the first new print recorded by Bloomberg (E&OE) at the first named time to the first new print recorded at the second named time. For Wall Street previous close to 3.30pm the change is measured from the official settlement in the previous day's market to the first new print recorded at 3.30pm London time. All times for Hourly Binaries are London times. Trades will be accepted until 1 minute before the second named hour. Trading for the following day begins 5 minutes after the second named hour. For Wall Street previous close to 3.30pm,  there is a 45 minute break in quoting, where trades will not be accepted, starting from the close of the underlying market. For all other Hourly Binaries there is a gap where trades will not be accepted that starts 2 minutes before, and finishes 3 minutes after, the first named hour.

22) Trading times shown in the table are local times, unless otherwise specified. Times in the names of trades (such as 'Wall Street: 18.00 Targets') are London time apart from ASX Binaries, where the time is Australian Eastern Standard Time.

23) 20-minute Wall Street Binaries settle the basis of achievement of price changes in the cash level of Wall Street from the first new print recorded by Bloomberg (E&OE) at the first named time to the first new print recorded at the second named time. All times for 20-minute Binaries are London times. Trades will be accepted until 1 minute before the second named time. Trading for the following day begins at 5pm London time each day. For Wall Street 2.40pm-3.00pm we will not make a price from 2.30pm until 2.42pm. For all other 20-minute binaries we will not make a price 15 seconds before the first named time until 2 minutes after the first named time.

24) Nifty-Fifty binaries settle basis the first new print recorded by Bloomberg (E&OE) at 15.30 (Bombay time) of the S&P CNX Fifty futures that trade on the National Stock Exchange in India.

25) TOPIX binaries settle basis the official closing price of the TOPIX futures that trade on the Tokyo Stock Exchange. This price is usually posted at or after 15.15 Tokyo Time.

26) 20-minute FTSE 100 Index Binaries settle the basis of achievement of price changes in the cash level of the FTSE 100 from the first new print recorded by Bloomberg (E&OE) at the first named time to the first new print recorded at the second named time. All times for 20-minute Binaries are London times. Trades will be accepted until 1 minute before the second named time. Trading for the following day begins at 12pm London time each day. For all 20-minute FTSE 100 Binaries we will not make a price 2 minutes before the first named time until 2 minutes after the first named time.

27) Hourly Australian Stock Index Binaries settle the basis of achievement of price changes in the cash level of ASX 200 from the first new print recorded by Bloomberg (E&OE) at the first named time to the first new print recorded at the second named time. For Australian Stock Index previous close to 11.00am the change is measured from the official settlement in the previous day's market to the first new print recorded at 11.00am Sydney time. All times for Australian Stock Index Hourly Binaries are Sydney times. Trades will be accepted until 1 minute before the second named hour. Trading for the following day begins 5 minutes after the second named hour. There is a 5 minute gap where trades will not be accepted that starts 2 minutes before the first named hour.

The final hourly binary (3pm-4pm AEST) settles basis the official settlement price of the ASX200 as detailed in note 5.

28) Daily MIB Binaries are normally quoted from 5 minutes after the opening of the S&P/MIB Index until 5 minutes before the close of the index. The underlying market normally opens at 09.00 and closes at 17.25 Milan time. Trades will be settled basis the official settlement level of the S&P/MIB Index. This official settlement may not be announced until several minutes after the close of the market and may differ from the market level showing at 17.25 Milan time.