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what is difference between Forex and binary trading?

Discussion in 'General Discussion' started by davidson333, Apr 13, 2016.

  1. davidson333

    davidson333 Member Trader

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    I would like to know as a newbie what is difference between Forex and binary trading?
     
  2. JamaMolla

    JamaMolla Member Trader

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    There are many differences, but one major one is scam brokers; it’s far too many on Binary while FMbinary that I worked with last years, but now I am with other broker and purely doing Forex trading, it works nicely for me.
     
  3. Christo Phernn

    Christo Phernn Well-Known Member Trader

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    There is not a massive difference between Forex and Binary trading, but still Forex is far better and much more profitable and dependable work while Binary is risky and less profitable. I only trade with OctaFX broker and them; I am able to work things out nicely which is another reason why I like Forex so much. I can start with as low as 5 dollars on their prestigious ECN account and yet get great benefits like 50% bonus on deposit while even without investment, I can participate on their demo contest regularly to win prizes and gain practice as well.
     
  4. Sarfraz Ahmed

    Sarfraz Ahmed Well-Known Member Trader

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    There is not huge difference when you talk about Forex and Binary, but there is some obvious difference in way it’s done, but still the potential is very similar. I am extremely fortunate because with FreshForex, I am able to do both Forex and Binary Option trading easily from same place, it’s just marvelous.
     
  5. Jamess

    Jamess Member Trader

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    There's no big difference between forex and trading options. Especially for those who worked on forex and has a general idea about it, it won't be hard to trade options, it's much easier and in general i find them simpler than forex.
     
  6. Stuart Pearce

    Stuart Pearce Active Member Trader

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    I don’t think there is any major difference apart from just the way it’s done, but one thing that is really different is the security level. I am trading in Forex for last 7 years and I am able to do it really nicely, but Binary Option trading has not been all that great for me with too many scams happening, so that’s one notice able difference. However, I have no issues with Forex due to been part of OctaFX broker, it’s number one company at the present.
     
  7. Jafar

    Jafar Active Member Trader

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    There is a huge difference between binary options and forex. But they also have things in common, i personally choose forex, it's more reliable and I think you can make more money there.
     
  8. Hinzor

    Hinzor Member Trader

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    There's no significant difference. On forex you can close a deal at any time. On BO you have to say what's going to happen with the price at a certain time, whether it'll be lower or higher than the current point.
     
  9. Sarfraz Ahmed

    Sarfraz Ahmed Well-Known Member Trader

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    The difference is not massive but just slight. However, it’s more about personal liking and we should only do what we like. I am lucky enough to be with broker like FreshForex since they have excellent service with allowing us to do both Forex/Binary at same place; it’s fascinating to do anything here with top notch features present!

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