For example, stocks are traded at full price, that is, how much you have to spend to buy this stock, while futures are different. Take stock index futures as an example. If the current stock index futures price is 3000 points. According to a little 300 yuan calculation, the leverage of futures is 10% (the actual leverage ratio is not 10%, here is just an example), so the money you need to buy the first-hand stock index futures is: 3000 * 300 *10% = 90,000 yuan, that is, 65438+ less than 900,000 yuan. This is the role of leverage, which allows you to trade with110.

Under the action of leverage, risks and benefits have also multiplied. For example, if a stock is bought at 10 yuan and falls to 9 yuan, it will lose 10%, so the loss is 1 yuan. But in the futures market, as for stock index futures, if it falls by 10%, then your principal (90,000) will be gone.