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Suppose, you’re thinking that EURUSD rate will be 1.3423 yearly 24 ages. Right now, EURUSD rate is 1.3410. Buy one day EURUSD binary options contract with strike price of one.3423 and expiry of 24 hours by paying a small premium like $10 per contract. If on the expiry belonging to the next 24 hours, the EURUSD minute rates are indeed a single.3424, you make $100 and if it is 1.3420 after 24 hours, you make nothing and lose the $10 a person invested in that contract.

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