Check the latest update on Binance’s announcement of 24/7 FX perpetuals, with the USD/BRL contract set for September 21.
Frequently Asked Questions
Here is a list of FAQs about Binances announcement of 247 foreign exchange perpetual contracts specifically focusing on the USDBRL pair
General Beginner Questions
1 What exactly did Binance just announce
Binance is launching perpetual contracts for foreign exchange This means you can trade the price of traditional currencies against each otherstarting with the US Dollar vs the Brazilian Realwithout ever owning the actual currency
2 What is a USDBRL perpetual contract
It is a trading pair that tracks the price of the US Dollar against the Brazilian Real Perpetual means the contract never expires so you can hold a position for as long as you want unlike traditional futures contracts that have an end date
3 What does 247 trading mean for Forex
Traditional Forex markets close on weekends This announcement means you can trade USDBRL on Binance 24 hours a day 7 days a week including Saturdays and Sundays
4 When does the USDBRL contract launch
The launch is scheduled for September 21
5 Do I actually own Brazilian Reals or US Dollars when I trade this
No You are trading a derivative product Your profits or losses are settled in cryptocurrency not in physical Brazilian Reals
6 Why would I trade this instead of just buying Bitcoin
This allows you to speculate on the strength of the US Dollar versus the Brazilian Real If you think the Real will weaken against the Dollar you can buy the contract to profit from that specific economic trend
7 Is this available to everyone
No Due to regulations Binance often restricts derivative trading for users in certain countries You should check your local eligibility on the Binance app
8 What is the minimum amount I need to start trading
Binance usually allows trading with leverage so you can start with a relatively small amount of capital However the minimum trade size depends on the specific contract specifications listed on the platform
9 How do I make money on this
You can profit in two ways
Long You bet the USD will go up in value compared to the BRL