London firm to offer bitcoin options trading

London-based options broker anyoption has announced plans to offer bitcoin derivative trading.

"While traditionally we deal with currencies and stocks traded in household markets, we've identified that the public interest in bitcoin trading has risen and have decided to facilitate it within our state-of-the-art one-touch tool," anyoption stated.

Traders choose whether the bitcoin exchange rate versus the US dollar will be above or below a certain price at set dates (in biweekly intervals).

"Taking into account the simplicity of opening and funding a binary option account, it will definitely attract thousands of traders who struggle to find a way to trade actual bitcoins," the company stated.

Bitcoin trading will take place daily and expiry rates will be determined by trusted landmark exchange tables, according to the company.

Options trading can lead to losses and gains. Anyoption said that upon option expiry, traders can "gain up to 120 percent profit", but neglected to mention that options trading can also lead to huge losses.