You can bet on the direction of the currency market with the help of forex binary options. Forex Binary Options also known as Exotics give you a fixed payoff of $100 if the market is above or below a certain price level when the binary options contract expires. And in case the market does not cooperate, you get $0 as a payoff. You can trade forex binary options on currency pairs like EURUSD, USDCAD, GBPUSD, USDJPY with intraday, daily and weekly expirations.