Forbes magazine in 2010. Gordon Pope, the author, spent two pages convincing the readers to stay away from binary options. He closes the article out by stating that "If people want to gamble that is their choice. But let's not confuse that with investing. Binary options are a crapshoot, plain and simple." It is unfortunate that Pope places binary options in such a negative light. He fails to mention that virtually all types of investments are a crapshoot.

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Now we will discuss some of the pros of binary options trading. First of all, these options are an excellent and simple way to get exposure to various markets - stocks, commodities, Forex and the like. Binary options truly make it possible for anyone to trade markets. Some of the brokers will even open accounts with $100 and let you experiment with $10 deals. Again, this paves the way for almost anyone to get involved.

Trading binary options is an excellent way to test various trading strategies without risking large amounts of money. This type of option account can be opened up in minutes and does not require long questionnaires, approval and cumbersome procedures like with a conventional options account. Most of the brokers accept credit cards as well as your favorite online payment method. Wire transfers with your bank are also available. Because most of these option firms are located offshore, opening up an account in one of these locations is a simple way to set up funds offshore.