Start with the classification
Forex is a currency market. Currency exposure may come from an exchange of currencies, an OTC margin contract or a currency future. Forex, futures and CFDs are therefore not mutually exclusive categories. This is general education, not a list of products executed by this website.
OTC margin forex
Check the counterparty, pricing method, contract size and rollover terms. An EUR/USD chart alone does not identify the contract or the account costs.
Exchange-traded futures
Futures follow exchange specifications for size, minimum price movement, expiry and settlement. Check cash settlement versus delivery, the last trading day and how positions are handled near expiry. Rolling may involve closing one contract and opening another, with price differences and costs.
CFDs
A CFD settles a price difference under its contract terms. It generally differs from owning the underlying shares. Spreads, commissions, financing, dividend adjustments and expiry depend on the contract.
Compare the documents
- Legal contract name and counterparty.
- Exchange-traded or OTC structure.
- Contract size, price increment and profit currency.
- Expiry, rollover and settlement.
- Initial and maintenance margin and liquidation rules.
- Spread, commission and holding charges.
Scope of the sources
The sources describe US and UK contexts and exchange education. Their rules do not automatically apply to every jurisdiction, resident or service. Confirm eligibility, provider authorization and protections with the relevant regulator and contract documents.