Custom Events: These are user actions that you define on your website (e.g., button clicks, page views) and track using the Facebook Pixel. Custom events give you flexibility to track any behavior that’s important for your business.
Custom Conversions: These are actions that Facebook automatically tracks based on specific URLs or parameters you set up. Custom conversions are often used to track specific actions like completing a purchase or signing up, and they allow for more precise reporting and optimization.