The direct goal of buying and selling is different.

The purpose of capital trading is different.

Different ways of capital transaction

Different capital trading places

Different security systems

The object of spot trading is the actual goods that already exist in the market. Spot electronic transaction is to unify the existing commodities (spot) through e-commerce and call auction on the Internet according to certain standards, and the trade attribute of commodities is greater than the financial attribute. Futures are mainly not commodities, but standardized tradable contracts with some popular products such as cotton, soybeans and oil and financial assets such as stocks and bonds as the subject matter, which can be a commodity (such as gold, crude oil and agricultural products) or a financial instrument.

The margin ratio in the futures market is about 5%- 10%, with low margin ratio and large leverage, which amplifies the risks and benefits of investment. The spot market margin is usually around 20%, and it will be increased under special circumstances (continuous ups and downs, near delivery, etc.). ), moderate leverage and moderate risk.

Extended data:

Trading characteristics of futures

bidirectional

One of the biggest differences between futures trading and stock market is that futures can be traded in both directions, and futures can be long or short. When the price rises, you can buy low and sell high, and when the price falls, you can sell high and buy low. Going long can make money, and shorting can also make money, so there is no bear market in futures. In a bear market, the stock market will be suppressed, while the futures market will remain unchanged and opportunities will still exist. )

low cost

Futures trading countries do not levy stamp duty and other taxes, and the only cost is the transaction fee. The procedures of the three domestic exchanges are about two ten thousandths or three ten thousandths, plus the additional fees of brokers, and the unilateral handling fee is less than one thousandth of the transaction amount. Low cost is the guarantee of success.

lever action

Leverage principle is the charm of futures investment. Futures market transactions do not need to pay all the funds, and domestic futures transactions only need to pay 5% margin to obtain future trading rights. Due to the use of margin, the original market has been enlarged ten times. Assuming that the daily limit of copper price closes on a certain day (the daily limit in futures is only 3% of the settlement price of the previous trading day), the operation is correct. The return on capital is as high as 60%(3%÷5%), which is six times the daily limit of the stock market. (You can make money only if you have the opportunity)

Double the opportunity

Futures is a "T+0" transaction, which makes your capital use to the extreme. After grasping the trend, you can close your position at any time. (Convenient access can increase the security of investment)

Greater than negative market

Futures is a zero-sum market, and the futures market itself does not create profits. In a certain period of time, regardless of the transaction costs of capital entry and exit, the total amount of funds in the futures market remains unchanged, and the profits of market participants come from the losses of another trader. The stock market has entered a bear market, the market price has shrunk dramatically, the dividends are meager, the state and enterprises absorb funds, and there is no short-selling mechanism. The total amount of funds in the stock market will show negative growth for a period of time, and the total profit is less than the loss. (Zero is always greater than a negative number)

Extended link: Futures-Baidu Encyclopedia