It is a very good business for the brokers selling binary options but very bad business for the players. Trading binary options is just the same as normal gambling. In the long term if you play enough you will lose your money because the odds are stacked against you! Let me explain you why:
The chance of winning with binary options is about 50%. Because it's pure luck, there is no skill involved. They usually pay you out 95% of your investment when you win. That means if you would for instance put in 100 dollar every time. Half of the time you will win 95 dollar and half of the time you will lose 100 dollar. Because the change of winning is 50/50 and the risk/reward is 100/95. This is why the odd's are stacked against you, mathematically the broker selling binary options has an advantage. In the long term the house always wins and the player will lose.
You can have pure luck and win for instance 2 times in a row. or have some luck and win the first time you play making you a net profit. But if you play long enough there is no possible way you can ever win with binary options. It will definitely cost you money. This is just pure mathematics.
There are a lot of comments about it online. Particularly some binary option trading platform where they say they got scammed and all that. If it has a lot of complaints against it then perhaps it's not a good thing to get into.
I attended a local basic info seminar on it and they charge a lot for teaching how to trade well using binary options. I actually had no idea it's what I kept seeing online. Lol. I'm still thinking about if I should join it or not. So far I'm still unsure.