No Touch Bet
How does it work?
- Win a multiple of your stake if at the time the bet expires, the asset price has never touched or gone past the strike price.
- If at any time before the bet expires, the asset price touches or goes past the strike price you win nothing but only lose the stake.
How to bet
- Set a strike price above or below the asset’s current price.
- Set how much you want to win and the expiry time of the bet.
- Then place your bet.
Example
A trader bets that the Wall Street Index will not touch 10,000 in the next 3 market days and wants to win $1,000 if it does not. He pays a stake of $200 After 3 days the Wall Street Index has not touched 10,000, so the trader wins $1,000. If, for example, on day 2 of the bet the Index had hit 10,000 the bet would instantly close and the trader would win nothing, but only lose the stake.--
Note that a 3 day bet expires in 3 market days at the same time as it was placed. A 3 hour bet expires in 3 market hours, even if this means rolling over to the next day. The same applies for bets denominated in minutes.
