Binary option trading is illegal in the US and you should delete your post immediately if you don't want to feds to knock down your doors.
If you live in a country where this is legal, you can go ahead and lose all your money if you wish to do so.
Sounds like you should hire a financial advisor or something if you need to make a few millions each year legally in the stock markets buying Tinder or Match.com or Facebook or Twitter.
Binary Options Trading is not, in itself illegal in the US. However, to be done legally, it must be conducted on regulated US exchange. All others are illegal and many are vectors for scams. Nobody's going to bust down your door if you try (but maybe if you run an unlicensed exchange).
That said, binary options trading is buying an option with a binary outcome. Like a bet on a game won or lost. Your option pays or doesn't based on the underlying security reaching a certain price, and unlike regular options, you probably don't have the option of selling your option once bought.
Regular options in the US are based on underlying securities, but when the strike price is exceeded, the payout (value of the options contract) depends several factors, including the price of the asset, the time left. You can also buy or sell at any time before the expiration day, during market hours, at the current price.
To answer Vikranth's Q, it has nothing to do with algorighmic trading.
