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What is forex?

Foreign exchange or forex is a market place for currencies. Currencies all over the world are constantly being traded. For any country to go into a business transaction with another country that uses a different currency the need for forex comes in. The need to exchange currencies is the primary reason why the forex market is the largest, most liquid financial market in the world. It dwarfs other markets in size, even the stock market, with an average traded value of around U.S. $2,000 billion per day. One unique aspect of this international market is that there is no central marketplace for foreign exchange. Rather, currency trading is conducted electronically over-the-counter (OTC), which means that all transactions occur via computer networks between traders around the world, rather than on one centralized exchange. The market is open 24 hours a day, five and a half days a week, and currencies are traded worldwide in the major financial centers of London, New York, Tokyo, Zurich, Frankfurt, Hong Kong, Singapore, Paris and Sydney - across almost every time zone. This means that when the trading day in the U.S. ends, the forex market begins anew in Tokyo and Hong Kong. As such, the forex market can be extremely active any time of the day, with price quotes changing constantly.
 Unlike binary options forex doesnt have a fixed expiry time or a fixed amount you get back if your analysis is correct.

What are Binary Options?

Binary options allows traders to profit from fluctuations in various financial markets globally. They allow traders too profit from a correct prediction of the direction a certain asset is going to take within a specified time frame. A trader simply has to monitor the market and determine if a certain asset or commodity will appreciate or depreciate within a specified period of time. If after studying the markets his prediction is correct he makes a gain of up to 80-92% and if he is wrong he loses his stake. Risk and reward are known in advance, offering a major advantage. Binary options are easy to understand because there are only two outcomes which are, win a fixed amount or lose a fixed amount staked. There's only one decision to make which is, is the underlying asset going up or down?