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.
I think the greatest similarity between these two types of investment is that the decisions that must be made should be based on events that occur in real life, such as changes in the economy and society. Such events drive the price of assets, making them to take certain directions, and forecasting such directions may allow the investor to make better decisions.
The problem in binary options is that, although it is a system that simplifies the way of doing decisions, it is also a system that limits the number of possibilities that the investor has, demanding that decisions be made in a more agile way, since there is a short period of time to decide whether the price will go up or down.
For me its too risky to invest in binary option because only need the analysis and you can lose in minutes because of the fast movement of the price set of margins or depends what you are betting.. its a kind of gambling.. than trading that you can not lose fast and if the price is getting low you can sell them and cover your loses.. unlike in binary you will lose and you can get guarantee for your loses.