DislikedHere’s an example of why I prefer Binary Options over Spot Forex.
Lets say you have two traders taking the same position on the same currency pair, trader A & trader B. Both trader A&B will be shorting the USD/CAD.
Trader A opens up a spot position @ 1.0325 with a stop loss of 60 pips.
Trader B sells a Binary Option contract @ 1.0325
Now, lets say the USD/CAD begins to go in the right direction for 20 pips, but suddenly, it spikes up some 80 pips from 1.0305, due to a sudden reversal.
Trader A’s spot position is immediately wiped out, and...Ignored