1. Binary options are a type of options inwhich the trader gets a fixed payout ifthe contract expires in the money, ordoes not get any payment and loses hisinvested capital if the trade expires out-of-the-money. 2. Unlike the spot forex market,the number of currencies thatare traded as forex binaryoptions is quite reduced. Youwill not get to trade many of theexotic pairs that are found in thespot forex market. 3. It is important not to lose sight ofhow the market works. Money iscurrency, which means it has aninflow and an outflow. It flows outfrom one source and into the handsof a recipient.