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Why do forex traders see binary options as "gambling"?

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asked Apr 29 by zigx (2,100 points)

3 Answers

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answered Apr 29 by Connor1 (5,150 points)

it's viewed as gambling because of the yes/no outcome and time constraint. Forex is an open position, can stay open forever technically, and equities provide ownership. Binary is a pure speculation, will it go higher, will it go lower. . . which is often confused with gambling. Gambling is random, based on chance, speculation is an educated position on the market based on fundamental and technical analysis. .. which is basically gambling to those who don't know.

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answered Apr 29 by melisa (3,130 points)

I think it has to do with margeting, which demonstrates binary options as a game, where after a few clicks you can make millions.

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answered Apr 29 by Nit0 (3,260 points)

This is because they do not understand binary options. 95% of retail traders in FX lose money because they can't manage risk and/or don't know how to trade. In Binary Options 98% lose money for the same reasons. Neither are gambling, however, they are just conducted by amateurs.

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