What is forward status code? What is the difference between a 301 and a 302 redirect code?

The forward status code is the response code sent to a web browser visiting your site if your domain is set to Dynadot domain forwarding. The code tells the web browser that the domain should be forwarded to another location.

Which redirect code should I use?

Either code, 301 or 302, can be used to forward your web page. A typical visitor to your website will not notice a difference. The different codes are mainly used for search engine optimization (SEO).

The 301 redirect code would tell a search engine that it should use the "forward to" page in its search results. For example, dyandot.com should be 301 redirected to dynadot.com, since we want dynadot.com to show up in the search engine results, not dyandot.com.

The 302 redirect code would tell the search engine to check back later to see which website should be used in its results. This would be useful if you are temporarily forwarding to another site while you are creating your actual site.