Binary Options
a.k.a. Digital options, All-or-nothing options
A yes-or-no bet on whether a price will be above a level at a set time: a fixed payout if right, the stake lost if wrong.
A binary option pays a fixed amount or nothing. 'Will EUR/USD be above 1.0900 at 3 p.m.?' Right, and you collect; wrong, and your stake is gone.
The simplicity is the danger. Payouts are usually set so the house keeps an edge, and the field has been plagued by scam platforms. The EU banned selling them to retail clients in 2018, and many regulators warn against offshore binary sites. Legitimate, regulated versions exist on some exchanges, but treat any site pushing them hard with deep suspicion.
Treating short-term binary options as a quick way to grow an account; the payout structure is built so the average bet loses.
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