The main differences between forwards and futures are:

a. The first is an agreement to buy an asset, while the second an agreement to sell an asset at a specific price.

b. The first are traded over the counter, while the second are traded on

an exchange.

c. The first can have as underlying asset only interest rates, while the second can also have other commodities.

d. The first give you the possibility to exchange payments, while the second does not offer you this possibility.