Hi Folks,
I have been seeing a load of advertising videos of binary option brokers like OlympTrade, Binomo, iq Option, Etoro etc. while playing my favorite mobile games. These platforms offer binary trading options which is mainly an one minute contract where the trader needs to forecast if the price is going up or down within that time frame. If your forecast is correct, you will earn 80 - 100% profit and if it is wrong, then you will loose your investment.
So I have tried few of them last night with demo money to understand more about this. One thing I fail to understand is that how they make money because these platforms don't take trading fees. Also you can't see the orders placed by the other players in the market. So it doesn't really functions like a trading exchange.
Do you guys have any further insights on it?
