Currency pairs on the platform
"Forex" here means a set of currency pairs as underlying assets for options, not margin trading in the usual sense.
Currency pairs are the most popular asset group on the platform. But the mechanics diverge from conventional forex far enough that conflating the two is a mistake.
How this differs from conventional forex
| Conventional forex | Options on the platform | |
|---|---|---|
| The result depends on | how far the price moved | direction alone, at expiry |
| Exiting a position | whenever you choose | at a predetermined time |
| Leverage | available | not applied |
| Maximum loss | can exceed expectations under leverage | limited to the stake |
| Overnight swap | applies | none |
The capped loss is often presented as an advantage, and narrowly it is. But the gain is capped too — at the payout percentage — while the break-even threshold sits above 50%. The arithmetic is set out in the platform review.
Which pairs to choose
Major pairs — EUR/USD, GBP/USD, USD/JPY — generally carry the tightest spreads and the most predictable behaviour during their own sessions.
Crosses and exotics move more sharply, but their payout percentages typically differ too. Sharp movement is not an advantage when you are guessing direction over a short window.
Timing matters
The currency market runs in sessions, and activity in a pair depends on whether its currencies’ markets are open:
- The London session — the greatest volume in European currencies.
- The London–New York overlap — the most active stretch of the day.
- The Asian session — quieter, with narrower ranges; strategies built around movement often fail here.
A strategy that performs during the session overlap can lose consistently in Asian hours while nothing about the strategy itself has changed. It was simply built for a different amplitude of movement.
At weekends currency pairs are available only as OTC assets, where pricing works differently.
Before you start
Check the payout percentage on the specific pair and expiry — it differs and it shifts. A few percentage points move your break-even threshold directly, and over a run of trades that matters more than which pair you picked.
The sessions and their character
| Session | Roughly (UTC) | Character |
|---|---|---|
| Sydney and Tokyo | 22:00 – 08:00 | Quietest. Narrow ranges; AUD, NZD and JPY pairs most active |
| London | 07:00 – 16:00 | The largest share of volume. Ranges expand sharply at the open |
| London and New York | 12:00 – 16:00 | The overlap. Widest ranges, tightest spreads |
| New York alone | 16:00 – 21:00 | Winds down through the afternoon |
The practical consequence: the hour of a trade is as much a strategy parameter as the asset and the expiry. A rule that performs during the overlap often stops working in Asian hours not because it broke but because it was built for a different amplitude.
What moves currency pairs
- Central bank rate decisions — the strongest single factor. Dates are known in advance and published in economic calendars.
- Employment and inflation data — released on schedule, producing sharp moves at publication.
- Geopolitics — unpredictable, and hardest on emerging-market currencies.
For short expiries, news is more dangerous than useful: movement at the moment of publication is chaotic, and the direction of the first minute is often the opposite of the eventual one. Many traders deliberately stand aside for a few minutes either side of a significant release.
Pairs of different character
Majors (EUR/USD, GBP/USD, USD/JPY, USD/CHF) — the most liquid, with relatively smooth movement and usually higher payouts.
Crosses (EUR/GBP, AUD/JPY) — no dollar involved, less predictable, thinner liquidity.
Exotics (USD/TRY, USD/ZAR) — sharp moves and wide ranges. Attractive until it emerges that sharpness does not help you guess direction, and payouts on them are typically lower.
A newcomer does better to settle on two or three majors and learn how they behave than to spread attention across dozens of instruments.
Frequently asked questions
How do currency pairs here differ from conventional forex?
The result depends only on direction at expiry, not on the size of the move. No leverage is applied and there are no overnight swaps, so loss is capped at your stake. But the gain is capped at the payout too, and the break-even threshold sits above 50%.
Which pairs suit a beginner?
The majors — EUR/USD, GBP/USD, USD/JPY. They generally carry the tightest spreads and behave most predictably during their own sessions. Crosses and exotics move more sharply, but sharp movement does not help when you are guessing direction over a short window.
Does the time of day affect results?
Substantially. The currency market runs in sessions: London carries the greatest volume, the London–New York overlap is the most active stretch, and the Asian session is noticeably quieter. Strategies built around movement often stop working in Asian hours.
Can I trade currencies at the weekend?
Only as OTC assets, where the broker generates the quote rather than an exchange. Those instruments behave differently, and carrying a weekday strategy onto them without separate testing is unwise.
Why does the payout differ between pairs?
It reflects the instrument's liquidity, the time of day and current volatility. A few percentage points move your break-even threshold directly, and over a run of trades that matters more than which pair you selected.