Futures trading is a long-term standardized contract for buying and selling commodities. The main differences between futures and stocks (or spot) are as follows:

1. Futures trading is margin trading.

The margin ratio of futures trading is generally between 10%-20%. For example, take the margin of 10% as an example. In the spot market, there are 65438+ million commodities, while in the futures market, you only need 100 to own the forward contract of 65438+ million commodities.

If the price of this 65438+ million commodity rises to 1 10000.

In the spot market, you invested 654.38+million yuan and earned 654.38+million yuan. The return on capital is 65,438+00%.

In the futures market, your investment is 1 1,000 yuan and your profit is 1 1,000 yuan. The return on capital is 65,438+0,000%.

The leverage of futures margin magnifies profits or risks.

Stocks also need 100% capital investment, and there is no leverage. It can be understood as spot trading.

Second, two-way transactions.

Futures can be bought first and then sold, or sold first and then bought.

Through analysis, if you think the market is bullish, you can buy and open positions first, and then sell and close positions after the market rises to complete a set of transactions.

Be bullish-buy and open positions-sell and close positions.

Through analysis, if you think the market is bearish, you can sell and open the position first, and then buy and close the position after the market falls to complete a set of transactions.

Sell and open positions buy and close positions.

Under normal circumstances, stocks can only be bought first and then sold, which is a one-way transaction (except for customers who can borrow and sell securities).

Three. T+0 transaction

Futures is a T+0 transaction, and you can sell (buy) and close your position on the day of buying (selling). You can trade back and forth countless times a day during trading hours.

The stock trading time is T+ 1. You can buy stocks on the same day and sell them on the next trading day.

4. Is there a delivery deadline?

Futures trading has a final trading period according to the different delivery months. Traders must hedge and close their positions before the specified date. Open futures contracts from the delivery month to the last trading day shall be delivered in kind (commodity futures) or cash (stock index futures).

Only legal person households are allowed to make delivery, and natural person households cannot enter the delivery month for delivery.

There is no final trading period for stocks. As long as the stocks you buy are not delisted, you can always hold them.