The most expensive trading method is forward trading, and the cheapest trading method is currency futures. Forward trading refers to a foreign exchange trading method in which when a foreign exchange transaction is concluded, both parties sign a contract to stipulate the currency, amount, exchange rate, delivery time and place of the transaction, and then make delivery at the time agreed in the future according to the contract. The term of forward foreign exchange transactions is calculated on a monthly basis, generally 1 month to 6 months, and 1 year is a short-term contract, generally 1 month to 36 months. Forward price includes two important parts: spot exchange rate and forward spread. Spot exchange rate is the main cornerstone. Moving forward is also called hitting a point or hitting an idea. It is necessary to spread forward. The specific settlement date of spot exchange rate adjustment is different from spot. Maturity is another determinant of forward price. Currency futures is a standardized contract, the subject matter of the transaction is the internationally recognized major payment currency, the trading period is the standard period stipulated by the exchange, the trading quantity is determined according to the standard trading unit stipulated by the exchange, and the buyer and the seller reach the future delivery price through public bidding in the exchange. Most currency futures are not actually delivered, but only the difference is settled. The maturity contracts of foreign exchange futures are March, June, September and 65438+February respectively. Currency futures have the following characteristics, which make them attractive: they are market participants open to everyone, including individuals. This is a central market, just like an effective spot market, and the spot market is a very decentralized market, and the futures market takes place under the same roof. It eliminates credit risk, because the Chicago Mercantile Exchange trades every seller as a buyer, and vice versa. In turn, exchanges make their transactions as public as possible.