They are different since binary options is not connected to Forex market and they are just depending on the movement of the market and they dont put any effect.I could say binary options is risky if you dont have too much knowledge on forex market since you would trade randomly and that would be like a blind gambling too.
Forex trading and Binary option have some similarities but they also have differences. Among the similarities are being able to trade online and both users can start trading with a small amount. They are also profit from the movement of the market where users are guessing for the direction of market.
The difference is that binary option have fix risk and fixed rewards and traders are shown upront their earnings if their prediction is right unlike the forex trading where you never know your profit until your stocks were all sold.
With respect to binary options, the problem is primarily the high risk that is involved in the operations, in which the investor has a fifty percent chance of winning and a fifty percent chance of losing. The good side is that in both, trading and binary options, it is possible to apply knowledge of economics and it is also possible to reduce the risks of losses having a good technical analysis and, of course, a good study of the fundamentals.