difference between Binary & forex trading

This is a discussion on difference between Binary & forex trading within the First Steps forums, part of the Reception category; I saw some videos on you tube that advocate binary tradings but dealing with currency pairs. so what is the ...

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Old Oct 3, 2016, 2:44pm   #1
Joined Sep 2016
difference between Binary & forex trading

I saw some videos on you tube that advocate binary tradings but dealing with currency pairs. so what is the difference between Binary & forex trading.? in forex trading , there are the same currency pairs acting , so where would binary trading come in ?
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Old Oct 3, 2016, 3:18pm   #2
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Binary trading is sold as being simpler and lucrative to beginners -

it generates huge affiliate profits for the salesman so don't get involved .....forget binary and stick to trading using the normal instruments and strategies
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Old Oct 7, 2016, 12:15pm   #3
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Binary options trading in my opinion is relatively easier than forex trading as there is no hassle of stop losses, take profit, spread issue and leverages etc in binary options trading. However earning money in both binary options and forex trading really requires a lot of skills so we should learn these skills before jumping into trading business.
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Old Oct 17, 2016, 2:23pm   #4
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It may be easier, but I like Forex Trading More, It may be a risky business, but it is rewarding too.
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Old Oct 23, 2016, 2:59pm   #5
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Well, I wouldn't say that binary options for newbies is much easier than forex. Because just like on forex with BO without a decent strategy, you won't get very far.
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Old Oct 25, 2016, 2:04pm   #6
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Quote:
Originally Posted by NVP View Post
Binary trading is sold as being simpler and lucrative to beginners -

it generates huge affiliate profits for the salesman so don't get involved .....forget binary and stick to trading using the normal instruments and strategies
Thanks for the reply. Clear. And thanks for the link
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Old Oct 31, 2016, 11:43am   #7
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But can anyone be more specific to explain what is different and where better to start for the beginner
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Old Nov 6, 2016, 10:57am   #8
 
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Originally Posted by Alexander1 View Post
But can anyone be more specific to explain what is different and where better to start for the beginner



When you trade binary options you just need to predict whether the price of a certain asset will go up or down in a given time. With binary options you can also trade forex pairs like eurs/usd, gbp/usd, jpy/aud etc. (but you trade forex (pairs) as binary options). Oppositely when you trade forex you either go short or long and for every pip that goes your way you earn some money. See the difference? With binary trading, all that matters is predicting the right way which will the price go and with forex it depends how much the price changes. If you need more explanation of the differences, look [Link removed]. Or anywhere at google, this is very commonly asked question so you should be able to find it super quickly.

Last edited by Trader333; Nov 6, 2016 at 1:06pm.
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