SBC News Voice of the Sports Betting Industry
Binary.com, the UK fixed-odds trading provider, has added three new forex pairs to its offering as demand for forex trading in emerging markets builds momentum. The three new pairs are:
- USD/MXN (US Dollar / Mexican Peso)
- NZD/JPY (New Zealand Dollar / Japanese Yen)
- USD/PLN (US Dollar / Polish Zloty)
The top five most traded currencies remain the US Dollar, Euro, Japanese Yen, British Pound and Australian Dollar but as reported in The Bank for International Settlements’ (BIS) triennial survey, appetite for the less obvious pairs has grown with trading in the Mexican Peso increasing by 171% from 2010 to $135 billion in 2013, giving the currency a 2.5% share of global forex trading. Other popular currencies included: the Brazilian real, the Russian ruble, Indian Rupee, Chinese Renminbi, Turkish Lira and South African Rand which together increased from 6.2% in 2010 to 10.8% in 2013.
Jean-Yves Sireau, CEO of Binary.com said: “Forex trading is always popular with carry and momentum traders alike. The addition of these less conventional markets is based on demand by our clients and our vision of continuing to increase our offering and enhance flexibility in our trades to all our clients worldwide.”
Rise and Fall trades on the USD/MXN, NZD/JPY and USD/PLN are now available for a minimal duration of one day. Forward-starting contracts may also be purchased on these three new markets with a minimum duration of 5 minutes.
