Futures asphalt: there is a short-selling mechanism, two-way trading can make a profit, and there are profit opportunities for both ups and downs. T+0 trading system. You can open positions many times on the same day, but there is a delivery date, and you must deliver when it expires, otherwise you will be forced to close your position or deliver things. At the same time, when the margin is insufficient, it will also be forced to close the position.
Spot asphalt: there is a short-selling mechanism, two-way trading can make a profit, and there are profit opportunities for both ups and downs. T+0 trading system. You can open and close positions many times on the same day, without delivery restrictions, and you can hold them indefinitely. However, when the margin is insufficient, it will be forced to close the position.
Difference 2: Trading funds
Futures asphalt: margin trading, 8- 12.5 times leverage.
Spot asphalt: margin trading, with leverage ranging from 20 to 33.3 times.
Difference 3: trading time
Futures asphalt: trading hours are: 9: 00 am to 165438+ 0: 30 pm to 1: 30 pm to 3: 00 pm. Due to the short trading time, it is not in line with the international gold price, and the phenomenon of gap is frequent. Investors can't enter the market in the early stage. It's easy to miss the opportunity to get in and out.
Spot asphalt: Following the opening hours in Europe and America, it is divided into daylight saving time and winter time. Due to the time difference, the current domestic trading hours are from 07: 00 am to 05: 00 the next day, and the closing time of the exchange is from 05: 00 to 07: 00. European and American trading hours 165438+ 10 start to follow the winter season, and the opening and closing times are delayed 1 hour. It can enter the market at any time, and the price continuity is superior to futures. The most active trading period is 20:00-02:00.
Difference 4: Increase the quota.
Futures asphalt: The daily price limit varies from 3% to 15% according to different futures varieties.
Spot asphalt: no increase limit