Binary Options…
What are they?
What do they have to do with FOREX?
Why are they scams?
in babypips school under “Graduation”
They are not scams, most just don’t know how to make money with them (as with every other trading instrument).
A type of option in which the payoff is structured to be either a fixed amount of compensation if the option expires in the money, or nothing at all if the option expires out of the money. The success of a binary option is thus based on a yes/no proposition, hence “binary”. A binary option automatically exercises, meaning the option holder does not have the choice to buy or sell the underlying asset.©investopedia
But to be serious it’s a kind of gambling. You choose the broker you want to deal with, read educational info about its options and you can try your skills in binary trading on a demo account (if the broker has it). I can offer you to check 24option review, there is more info about binary trading and brokers, cause as for me, I’ve started from finding information.
Binary Options is not a scam, instead is one more trading instrument where one can trade and make profits with a good trading strategy.