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
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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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Old Nov 11, 2016, 5:13am   #9
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Silly question but how BO looks like.!!! I have never work with it but want to see what layout out of it, any link to see the image of BO trade...
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Old Nov 15, 2016, 4:42am   #10
 
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Binary options trading is simpler than forex trading because there is no variability, you know your risk and profit potential and when the option expires you either lose or gain the pre- determined amount. With forex trading you donít know your ultimate risk and profit until you close the trade.
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Old Nov 15, 2016, 8:44am   #11
 
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Binary options are just one big scam, so avoid it at all costs. Trade forex, futures, or vanilla options instead. Forget binaries, that is pure gambling in which the house has advantage.
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Old Nov 15, 2016, 11:38am   #12
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Binary means you are unsure of your personal sexual leanings. Forex trading means you buy 1 currency and sell the other hoping to make money.
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Old Nov 15, 2016, 8:53pm   #13
 
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It is important to choose a decent broker. I think better to start with Forex.
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Old Nov 15, 2016, 8:55pm   #14
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I am definitely interested in getting into fx options. Might start looking into it next year
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Old Nov 24, 2016, 11:47am   #15
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Longer you stay with a BO broker the higher your probability of wiping your account, mathematically BO brokers know this.....for your own safety go with cfd's or U.S. options
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