Don't do binary options. Please don't!
They are a scam! I think that has been well documented on the web by now.
I guess some people just don't care. I don't understand how you don't care if your screwing someone over though.
There are two things to note here. First is the broker for the binary options. If the broker or site where you are playing binary option is shady then of course you will be scammed. But even you are able to find the trusted broker, then again the binary option is itself very risky and a wrong selection will make your money lost. That's why most people think binary option is scam.
I have been trading pretty much for over a decade and I can tell you that alot of these binary options brokers are not shady and if you actually make profit you will be able to withdraw however most likely 99% of people can't manage to turn a profit.
A big problem is with the promised "100% deposit bonus" which is unfair because it requires a certain roll-over. And usually if you accept this bonus you can't withdraw anything until you meet the roll-over requirement and its very difficult to even break-even with all that roll-over. And even if you don't choose the deposit bonus you got a crazy house edge against you. And nobody can predict the market 80%+ of the time. Even if you are a good trader and you can predict the market 60% of the time you still won't make anything due to the huge house edge.