JPEG is a lossy format which is effective for compressing photos but bad for graphics, such as logos. It does not support transparency.
PNG is a lossless format with an acceptable compression ratio. It is commonly used for graphics, such as logos.
TIFF is a lossless format with a poor compression ratio.
FLIF is a lossless format with an excelent compression ratio. However, it is not yet compatible with most software.
GIF is desinged for compressing simple graphics that have less than 256 colours...
BMP is an lossless format with a poor compression ratio.
Truevision TGA is a niche lossless format.
WebP is a modern image format by Google which supports both lossy and lossless compression, and transparency.
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No options for PNG.
No options for FLIF.
No options for GIF.
No options for TIFF.
No options for TGA.
No options for BMP.


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