Binary options trading is a form of financial trading where you bet on whether an asset will go up or down in value over a set period of time. The term "binary" refers to the fact that there are only two possible outcomes for each trade: you either make a profit or you lose your investment.

To start trading binary options, you need to open an account with a binary options broker. Once you have an account, you can choose an asset to trade, such as a currency pair, stock, or commodity. You then decide whether you think the asset's value will go up or down over a certain period of time, known as the expiry time. You place a bet on your prediction by buying a call option if you think the value will go up, or a put option if you think it will go down.

If you are correct, you receive a payout that is usually a percentage of your investment. If you are wrong, you lose your investment. The payout and the amount of risk involved vary depending on the broker and the asset being traded. It is important to understand the risks involved and to only invest money that you can afford to lose.