Binary Options: what are your views?

So like the title says, I'd like to hear some of the thoughts people have about binary options. I was doing a little research today and came across some intriguing things about the subject. And with the way the forex markets are slow and I don't get signals all the time, I figured there is no reason I couldn't learn about another avenue of income.

I would say that binary options is a good alternative for people to generate some additional income from trading . But in short there are a couple of things to note with pure binary options

1) Selecting a regulated/trusted broker - IG , CMC etc..
2) Payouts : 75-80% ( don't trade anything below that )
3) Quotes in 4 digits ( pip level ) or 5 digits or 6 digits - Avoid pip level quotes..you should have atleast 5 or 6 digits
3) Expiry tenors offered by brokers : 5 min, 10 min, etc..are they fixed or moving time scale
3) Having a statistical proven winning ratio with no Martingale -> You need atleast >=60% accuracy to generate a good risk reward. Don't buy into anyone saying that you can do some money management for binary options. Just try to develop a system with >=60% winning ratio and you are good to go with a good reliable broker with good payout ratio.

Overall this asset class which people like to call it gambling is more to do with broker related issues rather than pure trading strategy. Once you have a reliable broker with consistent pricing then you can focus purely on probability of directional prediction for next candle. Just remember you don't need 100 signals in a month to grow your account significantly .. 2-3 trades per day are good enough.

I have been trading it for a while manually and trying to generate signals. I think i am able to reach >=60% for 10/15 mins tenors. Please check http://www.forexfactory.com/showthread.php?p=8651536

Binary options is easy money if you know what youre diong.

Biggest part is finding a reputatable broker! Nadex or IG (nadex is better more active and better expires) are both pretty good not your typical binary setup because they both are exchanges so it's pretty legit.
The one part with overseas brokers is they don't allow SLs or if they do its not worth the probability of closing the trade.

Thank you for your input

Thanks COG...I'm glad to see you said Nadex. They are the company I found first. I signed up for a demo account and thisi guy calls me. He seemed very down to earth and didn't try to sell me anything. I'm gonna read up on this subject more but I'm definitely gonna try the demo out and see how things go. I like the fact that Nadex is based in the US. I live in Wisconsin and the guy that called me lives in Chicago. Nice to know the dude is only 5 hrs from me.

If you're in the US also look at Cantor exchange. A true exchange, even better than Nadex in my opinion. BTW IG Markets is not an exchange, they issue CFDs on binary options. You can't make your own price like you can with Cantor.