I just want someone to explain CFD trading and Binary trading. Which one is more preferred?
Well as CFD stands for Contract for difference, so you are not really buying or selling the actual instrument. CFD is a derivative financial instrument, which allows trading on indices, stocks, commodities, bonds and other instruments, without the need of actual possession. In my opinion the main advantage of CFD’s against trading with real financial instruments is that you can speculate with the price of the stocks of worldwide companies. So when you trade with CFD’s you will not pay the whole amount of the index/stock or etc. you will pay a very small part of it. The process of placing an order on these instruments is exactly the same as FX.
As for Binary Options I don’t have a particular experience with them but I think you could find the description in Investopedia quite useful: Binary Trading and Options Basics, an Overview | Investopedia
Although I highly recommend to avoid binary options because it’s usually a scam. This has been discussed many times in the forum. Here are some therads: Binary Options. Beware! Warning about Binary Options The terrible cost of binary trading fraud: father of four commits suicide after losing £183,000 - Andrew Penman - Mirror Online I’m going to steal everything you have