I'm just wondering how long binary options will be around in the U.S.? Does anybody know any information about if they are illegal, and how long they will be around for?

Answer
Legality is not the issue as much as regulation and licensing.

Binary option sites are nothing but online betting at terrible odds. You are virtually guaranteed to lose long term.

In the US, options and forex are regulated by the CFTC (Commodity Futures Trading Commission). Most of the foreign sites (Cyprus, Israel) do not meet US regulatory standards.

One of the most widely publicized, Banc de Binary, is on a warning list from the SEC. Link below.

The 2nd link is a forex advisory from CFTC, equally applicable to binary options.

how does a binary forex option broker earn?

i want to trade in binary forex option . But first of all i want to know that how binary forex option brokers earn. If they earn from loss of money of a client then it is scary. So i want to the method of earning of binay forex option brokers.

Answer
I don't know how binary forex broker earns money. But I think, binary option is quite risky compare to traditional forex trading, since if you make a mistake in telling the trend you will lose almost all your money. Good for you if you always guess the right one. But as for me I use Omniforex Signals, a membership site that helps you successfully trade online by following signals.

How I earn Fulltime income through forex trading - http://hubpages.com/hub/Share-Market-Automatic-Forex-System