Currency futures fall under forward currency contracts. They however have specific contract sizes ,maturity dates and are traded in a formal exchange. Most currency futures are traded in the Chicago Mercantile Exchange.
Retail currency traders can trade in the currency futures market however they are more expensive to trade than spot forex in that one needs to trade through a member of the exchange. Another disadvantage is that unlike the spot market where the trader only risks the capital available with his forex broker, trading in currency futures puts at risk all the wealth a trader may have.
Spot forex traders have been known to look at currency futures rates as a guide to the trend in a currency.
Forex options are slowly being introduced and these provide a buyer with the right but not the obligation to sell or buy an amount of forex at an exchange rate and a date specified in advance.
For example, a forex trader may bet on the price of the EURUSD going to the rate of 2.1222 on July 31st 2009. He can then buy currency options at the rate of 2.1190 . If the price goes above this, the forex trader will still have the option to buy the currency at 2.1190 even if the price has risen to 2.1222 and then resell the currency at the open market for a profit. If the market does not reach 2.1190, the currency options trader has no obligation to buy the currency.
To be able to buy the currency options, the forex trader must pay a premium to the writer of the option which is normally the bank or the forex broker.