With similar functionalities to Binary and Long Term Options, Pairs allows traders to predict the relative ratio between 2 assets from the same equity type (which asset will outperform or surpass the other by expiry). With regular Binary Options, the price of a commodity is predicted. With Pairs, a trader predicts how strong or weak one asset will be compared to the other.
For example, investors can trade on the performance of Gold compared to Oil, Google compared to Apple, Dow Jones compared to FTSE. The idea for pair options came from the universe of currency crosses, and currently these instruments are a unique trading method as they are based on relative strengths or weaknesses and not on absolute strengths.