Futures trading is a centralized trading form of standardized forward contracts. The ultimate goal is not the transfer of commodity ownership, but to avoid spot price risk by buying and selling futures contracts. Futures trading is a new trading method developed by trading in the futures exchange on the basis of spot trading and standardized futures contracts. Spot trading refers to the way in which buyers and sellers trade goods for the purpose of physical delivery.

The difference between spot crude oil and futures crude oil is as follows:

1, trading mechanism

Futures crude oil and refined oil: there is a short-selling mechanism, two-way trading can make a profit, and both ups and downs have profit opportunities. 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 crude oil and refined oil: there is a short-selling mechanism, two-way trading can make a profit, and both ups and downs have profit opportunities. 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.

2. Trading funds

Futures crude oil and refined oil: margin trading with leverage ranging from 8- 12.5 times.

Spot crude oil and refined oil: margin trading, with leverage ranging from 20 to 33.3 times.

3. Trading time

Futures crude oil and refined oil: trading hours are from 9: 00 am to 165438+ 0: 30 pm to1:30 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 crude oil and refined oil: the opening hours of Huhua Port in Europe and America are divided into summer and winter following the song "Forbidden Tangyuan". Due to the time difference, the current domestic trading time is 07:00-05:00 am Beijing time, and the next trading day is 05:00-07:00 am. The trading time of the exchange is closed for settlement. European and American markets 165438+ 10 began to follow the winter trading hours, and the opening and closing times were delayed by 650. 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.

Step 4 increase the quota

Futures crude oil and refined oil: according to different futures varieties, the increase or decrease is limited to 3%- 15%.

Spot crude oil. Refined oil: no increase limit.