When the CBOE first listed Weekly Options a few years back everyone thought; Wow, those options expire quickly! Now there is a new product which expires in 60 seconds and they are called binary options!
The way binary option trading works is for traders who do not want to buy and hold but rather make a quick trade, and get in and out in only 60 seconds. The great thing with binary options is the payout. A trader can decide to invest $100 and make a 70%, 80% or 90% return one minute later. The down side is, if you are wrong you lose the entire $100.
Here is a better way to describe binary option profits.
Friend: Do you think Oil is going up or down?
Me: Looks like its going UP.
Friend: Thanks, I just made $70.
Me: What do you mean?
Friend: Well I bought a binary call option and I make 70% return just by picking up or down.
Me: It is that easy?
Friend: Yup, Just Like That!
Read more Binary Option Frequently Asked Questions Exchange to learn more about regulated and licensed brokers, and check Scam Broker to see which brokers are legitimate binary option brokers and which brokers are scams.
There are over 200 binary option brokers online today.