One agrees to buy and sell currency for immediate delivery or payment at an agreed-upon price.
- The contract can be utilised as long as two business days later
- Useful for transactions that are carried out at short notice
One agrees to buy and sell a specific amount of a currency at an agreed-upon price, by a specific time.
- The contract must be utilised by a specific time, in accordance with the terms stated in the contract
- Useful for transactions that you have advance notice of