Advantages & Disadvantages of Futures

Choosing to invest in futures instead of options brings along both advantages and disadvantages. There is the generally acknowledged strong positive relationship between the currency futures price and the conversion rate expected to prevail for any currency duo. Investing in futures at a given price, therefore, gives one a concrete basis for the upward or downward trends that are currently projected for specific currencies or commodities in the light of prevailing news or issues (Kolb, 2000, p.27).
Acquiring currency futures for hedging purposes enables one to gain out of such investment what one would be losing from the basis or the main transaction. In terms of gains when one has made the right choice, futures yield much higher amounts compared to options. Futures also are subject to less market volatility; their prices are relatively more stable throughout the trading hours of the markets. Also read about cryptocurrency advantages and disadvantages
Options are the instruments that are swept in more erratic fluctuations in the bourses. In the specific case of futures on the Japanese yen, there is the historical trend that has continually delivered futures prices that are lower than the spot rates for options. This makes the transaction costs of futures lower than those that apply to options. However, futures do not come with the same flexibility that options offer.

A futures contract spells out an irrevocable obligation to buy or sell currencies and commodities at the specified contract prices, and this comes as a disadvantage. It requires higher amounts of investments that would have to be used to buy the object currencies or commodities.
References

Kolb, R. (2000). Futures, Options & Swaps. Malden, MA: Blackwell Publishers, Inc.