Difference: Forward is not a standardized contract. It is characterized by flexibility and can be signed according to both parties to the transaction, so the flexibility is limited. Futures is a highly standardized contract, the contents of each contract are the same, with strong liquidity, poor flexibility of contract contents, two-way trading, flexible trading methods and margin trading, and its settlement is debt-free settlement on the same day, that is, once a day. Options are also highly standard contracts, but they also gain flexibility internationally. Its option trading is a kind of buying and selling right, including buying and selling call options and putting options. Security is higher than futures, and its call option is characterized by limited losses and unlimited profits. In addition, futures and options can have their own arbitrage, and can also be derived into new financial instruments.