Not long ago, I had the opportunity to go to China and discuss the crackling, "always on, 24/7" foreign currency exchange (forex) market.
It's easily one of the richest, most liquid, and dynamic markets on earth.
I mean, this market sports more than $5.3 trillion in trading volume every single day. That swamps the stock and futures markets.
Depending on how you count it, it'd take about 30 days of trading on the New York Stock Exchange (NYSE) just to come close to what you see in one day of forex trading.
The gains can be mind-boggling.
Now, the conference had some very cool people, from all over the world - the kinds of folks who naturally gravitate toward this excitement and profit potential.
You bet I had a great time, but hands down, one of the biggest, most frequent questions I heard was: "Tom - you ever trade binary options on forex markets?"
I nearly bit my tongue, and here's why...
As things stand right now, binary options, or "binaries," as they're often called, are one of the worst ways to trade currencies.
At the same time, they're becoming more and more popular with traders all over the world.
That's mostly because, even though binaries are classified alongside other "exotic" options, they seem really simple compared to the "vanilla," or "American-style" options trades I recommend all time in my research services to give my readers a chance at fast double- and triple-digit gains.
"Seems" is the key word when it comes to these binaries. Let me show you what's really going on - before you put any of your hard-earned wealth on the line.And of course, I'll show you my favorite way to safely and sanely trade the incredible forex markets...