I would say that binary options is a good alternative for people to generate some additional income from trading . But in short there are a couple of things to note with pure binary options
1) Selecting a regulated/trusted broker - IG , CMC etc..
2) Payouts : 75-80% ( don't trade anything below that )
3) Quotes in 4 digits ( pip level ) or 5 digits or 6 digits
3) Expiry tenors offered by brokers : 5 min, 10 min, etc..are they fixed or moving time scale
3) Having a statistical proven winning ratio with no Martingale -> You need atleast >=60% accuracy to generate a good risk reward. Don't buy into anyone saying that you can do some money management for binary options. Just try to develop a system with >=60% winning ratio and you are good to go with a good reliable broker with good payout ratio.
I have been trading it for a while manually and trying to generate signals. I think i am able to reach >=60% for 10/15 mins tenors. Please check My new algo for cTrader/cAlgo @ Forex Factory