How Binary Options Work–Can You Make Money With Binary Options? Let’s say the price of the binary option to bet on Gold being above $1,700 by the end of the day,is $40. When placing the trade,the broker takes $40 out of your account. If by the end of the day Gold closes above $1,700,you get $100 back. So you put $40 in and you get $100,i.e. your profit is $60. If Gold closes below $1,700,then you get nothing back. And since the broker took $40 out of your account,and you get $0 back,your loss is $40. Here’s the cool thing:Binary options are available for a wide variety of underlying markets:Major indices like the Dow Jones,S&P 500,Nasdaq,…Major commodities like Crude Oil,Gold,Silver,…Major currencies like EUR/USD,USD/JPY,GBP/USD,……AND they expire daily or even hourly! So if you don’t want to wait until the end of the day,you can trade a binary option that expires in the next hour. All you need to do is decide whether a certain market is closing above or