What is the difference between binary and forex trading

[SimplyFX]

Many still confuse and mix between the two forms of trading yet they are still one form/unit and under one group

 

[Konam]

I traded binary for some time and it wasn't a good experience I lost my captial.

 

[th3.grey]

Im new to the whole forex world and Im also curious, is there a difference between the two?

 

[Lannanda]

it is best to work in both directions to expand your knowledge and skills

 

[v3n3ss4]

binary offer fixed position (up or down) with specific expiry time, meanwhile forex more flexible because we can set take profit or stop loss.

 

[lengendff]

Binary option trading is the simplest form of option trading, where it is an all or nothing bet. As long as after the expiration time(selected by the user), the price is at the chosen direction, is a winning trade and vice versa for losing trade.

Forex trading on the other hand, how much running profits or loses depend on how far or near the price goes as compared to the entry price with no expiration time. The realized profits or loses will be determined when the trade is closed either by user or user's preset levels.

 

[Mikeman]

If you're going to decide to go with one or the other, I'd go with Forex...steeper learning curve, but long term has much more profit potential with less concern over brokers paying. You can also exit your trades whenever you want which in my opinion makes it easier to build up equity in your account.

 

[Rams26]

If you're going to decide to go with one or the other, I'd go with Forex...steeper learning curve, but long term has much more profit potential with less concern over brokers paying. You can also exit your trades whenever you want which in my opinion makes it easier to build up equity in your account.

i dont know much about binary however i prefer forex trading than binary