Article 13 of the Provisions of the Supreme People's Court on Several Issues Concerning the Trial of Futures Dispute Cases stipulates that a futures brokerage contract shall be deemed invalid under any of the following circumstances: (1) those who engage in futures brokerage business without the subject qualification; (two) customers who do not have the qualification to engage in futures trading engage in futures trading; (3) Violating the prohibitive provisions of laws and regulations.