Binary trading and online gambling are often placed side by side. Gambling is generally considered negative, and it really can be if you overdo it. Because of this, when binary trading is compared with gambling, people tend to be afraid of it and see it as something dangerous. However, even though these two concepts have some similarities, there are many important differences between them.
What separates binary trading from online gambling?
You can conclude about binary trading based on the name. It is the trading method where you have two options to choose from and predict the outcome of the certain asset’s price. It is very simple and straightforward, and the simplicity of the concept may be what scares people away and makes them think that it is the same as a game of roulette or other casino game. The truth is that, even though the trading concept is the same, what lies beneath requires some learning and trying, and earning money is not simply a matter of luck. When you observe binary trading and online gambling more closely, when you compare them, you will see that there are several things that make them different from each other.
This is the first aspect that makes binary trading different from gambling. While gambling games require you to know only the rules of the game and rely on pure luck, binary options are different. The trading concept truly is simple and allows everyone to understand it. However, if you want to be successful, you should not rely purely on luck. You need to know how to analyze the market, predict its movements and changes in order to make the correct prediction. You will agree that this differs from any gambling game you know.
Licenses and laws
Another difference is in the authorities that give online casinos and trading platforms operating licenses. Also, they are regulated by different laws, and this is why online gambling is very limited or not allowed in many countries, while binary trading is.
Online gambling requires you to be present while playing your favorite casino games. After all, that is what the whole fun is about. It is different with binary trading. As a trader, you can, of course, spend time in front of the computer, trade on the broker’s platform and manually set all the trading parameters. However, there are also many tools that make the trading easier and faster, and that do not require you to be present while the trading session lasts. These are binary robots and auto trading systems, click here to learn more.With these robots, you are allowed to set the trading parameters manually, and the robot will perform the trades on your behalf, based on the parameters you entered. There are also some automated systems which operate based on autopilots, so they determine the parameters based on the current trends on the market.
Unlike gambling, binary trading is not only about luck. You need to be aware of the market trends, stay inform and enter the world of trading, and your success relies on it. Gambling can be fun, but it involves nothing but pure luck, so it can be quite dangerous. So, of you want to earn money and not hope to win it on a game, binary trading is definitely a better choice.