Molecular compounds or also know as covalent compounds are compounds that are usually formed by two non-metals that are reacting to each other. On the other hand, Ionic compounds are formed by a metal and a non-metal. Binary compounds are elements that are entirely different to each other and are chemically bounded together as one compound. Binary compounds come as binary ionic compounds or binary covalent compounds. So yes, they are related to each other. This is as ionic and covalent compounds are used to identify what kind of binary compound it is.
