What are /biz/' opinions on binary trading? Are all of them

>>1652555
Are you British?

>>1652563
Nope, austria

>>1652574
Does your stock market suck re taxes?
Because it seems that's why Brits are always on here asking about binary and CFD shit like Plus500.

>>1652589
I didn't think about it but yeah, it does. huh

There are indeed legitimate binary options. Those are long-running, exchange-traded and rare.

What people usually mean when they talk about "binary options" is some sort of app or platform they sign up for, that allows them to make short-term bets.

Those are mostly bucket shops. That means their options do not have a legitimate counterpart (i.e. an actual person like you betting against you on an open match-making market). Rather they create their own "options" to "sell" to you. In essence they act as the bank at a casino or as the bookie at a betting parlor while disguising as a legitimate broker. Actual brokers have conflict of interest rules. Nothing good can come from a broker whose profit depends on you losing at trading.
They also usually offer bets as low as an hour or even a minute to encourage gambling addicts. Bets like this are pure gambling, there is no way to skillfully predict such short-term fluctuations.

Also, since nothing is exchange-traded, they control the "market", they control the platform. Several big players in Israel have been exposed for fudging the numbers, basically ensuring that in the long run they win all your money.

If you find it entertaining, sign up and trade away your money. It's basically gambling, so if you're into that and have money to blow, more power to you. If, however, you're in it to make money, keep as far away from binary options as possible. It's like betting your money at the roulette wheel - if the casino had full control of the outcome. It's retarded.

I have no idea, but I clicked an ad for one which went to a sponsored content advertorial on a fake "financial news"-site, then I searched for their name in various search engines and found literally dozens upon dozens of such fake articles on dozens of fake sites, each complete with entirely fake comments sections. Shady af. I think if non-insiders had any real shot of making money with financial instruments everyone would be doing it. Caveat emptor.