We’re excited to kickstart 2024 by expanding our trading offerings in the Crypto.com App with Forex Strike Options!
This marks our first venture into TradFi products, enabling you to engage with these four popular forex pairs in Strike Options:
- EUR/USD
- USD/JPY
- AUD/USD
- GBP/USD
You’ll be glad to know that trading Forex Strike Option closely resembles crypto Strike Options. Strike Options is a CFTC-regulated derivatives product which allows you to potentially profit in just five minutes by predicting whether the price of an underlying asset will be higher than a specified price after that amount of time. Forex Strike Options is offered by Crypto.com | Derivatives North America.*
For example, if you believe the price of EUR/USD will exceed US$1.10 in five minutes, you can purchase a “Yes” option, with clearly defined risk and potential profit levels.
Conversely, select “No” to open a short position if you believe EUR/USD’s price will not exceed US$1.10 in five minutes. You can even exit your position early to secure your profit or limit risk.
Forex contracts in Strike Options are priced at US$100 per contract, and are open for trading 23 hours a day, five days a week**. Five minute and 2 hour contract turnaround times are available.
Other benefits of Forex Strike Options include:
- Trading Fast-Paced Markets: With contract durations as short as five minutes, profits have the potential to be realized swiftly.
- Clearly Defined Risk and Reward Levels: Know your maximum profit and loss upfront before you enter a trade. This allows you to carefully plan every trade you make.
- Expand and Diversify Your Portfolio: With Forex Strike Options, you gain exposure to the foreign exchange market, alongside the usual suite of digital assets in the Crypto.com App. This allows you to potentially yield a higher return on your portfolio.
Strike Options is also available for BTC, ETH, LTC, BCH, AVAX, LINK, DOT, and DOGE as underlying cryptocurrency assets in addition to the above forex pairs, with much more to come.
** Forex contracts are not tradable from 5 – 6pm EST (Monday – Thursday) and from 4pm EST (Friday) to 6pm EST (Sunday), and on selected US bank holidays.
Resources:
- Strike Options FAQ
- University article on Strike Options
- Strike Options introduction video
- A step-by-step guide for Strike Options
Don’t have the Crypto.com App yet? Download it here.
*Disclaimer
Foris DAX Inc. and Foris Inc. (d/b/a Crypto.com) offer connectivity to Crypto.com | Derivatives North America (CDNA), which is regulated by the Commodity Futures Trading Commission, for the purpose of trading derivatives on and subject to the rules of CDNA. Currently available for US users only, who must first become a Member of CDNA prior to trading CDNA derivatives on CDNA. Trading on CDNA involves risk and may not be appropriate for all. Customers risk losing their cost to enter any transaction, including fees. You should carefully consider whether trading on CDNA is appropriate for you in light of your investment experience and financial resources. Any trading decisions you make are solely your responsibility and at your own risk. Past performance is not necessarily indicative of future results. None of the material on Crypto.com or CDNA is to be construed as a solicitation, recommendation, or offer to buy or sell any financial instrument on CDNA or elsewhere. CDNA is subject to US regulatory oversight by the CFTC.
