Currency binary is a form of options trading in currency form. The format of payment is all or nothing. If the currency's exchange rate did not reach the strike rate, the trader loses all the capital. For example, a trader picked a currency with a current exchange rate of 1.11 and purchases a currency binary that has a strike rate of 1.15. If the strike rate at the time of the contract's expirationdid not match the current excange rate, the trader loses money.