A file is always a file, it's how you read it that will decide what format it is.
a "binary" file is probably a file stored with binary contents of variables so yes, binary is the correct
method to read that file. I assume you don't have any specific variables known there so you may load it into a byte array
Code:
Dim buffer() as byte
Open filepath for binary as #1
  Get#1,,buffer
close #1
debug.print "The hex value of the 42'nd byte in the file is: " & Hex(buffer(42))
Now the last line will show you how to convert it to hex, you use Hex() function.
Also if you want to convert a string character to hex then use Hex(ASc())