There are some essential differences between currency-based futures and currency exchange markets (often known as Forex). An exchange, such as the CME (Chicago Mercantile Exchange), swaps currency futures, but currency markets are found in a completely other place and are therefore less regulated. Traders who deal in currencies favour currency markets, whereas those who trade in currency futures prefer currency futures. Suppose you are looking for a spot-on strategy for trading currencies. In that case, futures are an excellent alternative because they don't suffer from some of the issues seen in traditional currency markets, such as currency brokers trading against their clients and the absence of a central pricing mechanism.