What is Binary Options?
A binary option trade is an all-or-nothing proposition. Binary traders in Papua New Guinea can purchase options that predict whether the underlying price of an asset will go “up” or “down” over a set period of time. Should their prediction be correct, the trade will be considered “in the money”, and the Papua New Guinea trader will be paid a set amount. If there prediction is not correct, the trader will not be paid anything.
Technically, binary options trading is not Forex, but many Papua New Guinea consider it to be a good alternative. The assets that are available to trade in Papua New Guinea are much the same. They include commodities such as gold, currency pairs such as GBP/USD, and stocks. There are also some advantages to it, such as low minimum deposit requirements, and no commissions or spreads.
Binary Options
