Binary options contracts have different expiration times, 
and different brokers offer them at different expiration times.
For the sophisticated investor, user they prefer to trade binary options being a complementry technique  to other types of investing can reap sizeable rewrds.
You can purchase binary options for just about any financial product and they can also be bought in both directions of a trade.
For up to date facts and trading examples lookup using Google or Youtube for 
"double your forex account in one trade". Binary options are usually traded over the 
short term, which expiration dates ranging from five minutes to the end of the day.
Actually, successful trading is a completely different kind of a process.