Binary options are a type of option in which the payoff is structured to be either a fixed amount of compensation or potentially none at all, based on an expiration of the option.
This sort of, 'all,' or 'nothing,' aspect of binary options is how it gets it 'binary,' name. There is a fixed risk and reward.
Unfortunately, like other industries binary options have its share of dishonest scammers. With the advent of the Internet in the last two decades, this has become more and more prevalent.
Like any type of investing you may consider, doing your due diligence is important and completely necessary.
There are many fake binary options brokers out there, which has unfortunately given this financial vehicle a reputation that poorly precedes it.
However, if you are willing to do your homework, binary options can be a safe way to trade such options.
In fact, CopyOp is a binary options trading site you may want to check out for yourself.
You can even check out this CopyOp review.