BINARY V FOREX – WHATS THE DIFFERENCE AND WHATS THE BEST OPTION?
BINARY TRADING OR FOREX TRADING, WHICH IS BEST FOR ME?
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I get asked this question a lot and the simple answer is both have their pros and cons.
If you’re in the US, you will need to contact us to talk you through your options, but my advice is to look at Forex as this is much easier in the US than binary.
Click Here for Regulated US Forex Brokers – http://www.dailyforex.com/forex-brokers/us-forex-brokers
The rest of the world, you still have some options for Binary as well as Forex.
Binary Trading attracts the masses because of its simplicity. You are making a prediction of whether an asset will be higher or lower over a set period of time. Simple!
The problem with this is lack of flexibility and control of each individual trade.
This is why we recommend multiple brokers when trading binary, to give yourself a choice of expiry times and currency pairs across your brokers.
This enables you to pick the best broker for each trade based of your market analysis.
Binary trading is a good starting point because its easy to learn but remember, you still need to understand how to determine low risk trades in any given market environment.
Forex Trading is more complicated to begin with which is what steers many people towards binary. But, with the right education, Forex trading will give you control and flexibility with your trades that you simply cannot get from Binary.
Forex has different types of trades, so no need for the multiple broker set up, just the knowledge of which trade to use and when.
The ability to start and stop trades in the future means you can set your trades up and go to work.
Profit Take and Stop Loss provide the ability to avoid huge loss if you make a bad trade. This a protection, again, not available with Binary.
Video by Ben Newman
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