The trading target of foreign exchange margin is spot exchange rate, while the trading target of forex futures trading is forward exchange rate. We know that there are interest rate differences between currencies, which are reflected in different forms in foreign exchange margin and foreign exchange futures. In fact, this difference is the main difference between foreign exchange margin and foreign exchange futures.

In the foreign exchange margin, the spread is not reflected in the price, but in the extension of the position, that is, interest will be deducted from the account at 5 o'clock every day in Beijing time, and vice versa.

In foreign exchange futures, the spread is reflected in the price, and there is no concept of day delay. That is, the forward discount of high-interest currency, the discount degree (at interest rate parity) decreases with time and converges to zero when the contract expires.