Binary options or forex trading are both financial investment options but they are different and similar in one way or another. Binary option is an option where you profit or lose depending on the outcome of the market. In this case, a trader either makes a fixed profit or loss. In binary options you predict the decrease or increase in an asset’s price over a given period. On the other hand, forex trading otherwise known as spot trading is where positions are opened and closed in a trading session. For a trader’s profit or loss, all this depends on factors such as the entry price, the number of shares, exit price, lots bought or sold or contracts.