The purpose of the transaction is different. Spot transaction is the transaction of primary currency and primary commodities, and it is a direct means to meet the needs of buyers and sellers by obtaining or transferring the ownership of commodities immediately or within a certain period of time. Generally speaking, the purpose of futures trading is not to obtain physical objects at maturity. The purpose of hedgers is to transfer the price risk in the spot market through futures trading, and the purpose of investors is to obtain risk profits from price fluctuations in the futures market.
Trading methods are different. Spot transactions are generally one-on-one negotiations to sign a contract, and the specific content is agreed by both parties. If the contract cannot be fulfilled after signing, it will be resorted to law. Futures trading is conducted in an open and fair manner. One-on-one negotiation (or private hedging) is considered illegal.
Trading places is different. Spot trading is generally not limited by trading time, place and object, flexible and convenient, and can be traded with opponents at any place. Futures trading must be conducted in an open and centralized manner in the exchange according to law, and cannot be traded over the counter.
The range of goods is different. The varieties of spot trading are all commodities in circulation, while the varieties of futures trading are limited. Mainly agricultural products, petroleum, metal commodities and some primary raw materials and financial products. The settlement method is different. Spot trading is cash on delivery, no matter how long it takes, it is a settlement or several settlements. Futures trading adopts a daily debt-free settlement system, and profits and losses must be settled daily. The settlement price is calculated according to the weighted average of transaction prices.
In terms of investment, spot and futures have their own advantages and disadvantages, and the two focus on different things. Spot is the market, and the difference is obtained by buying and selling retail investors. As long as there is a market, it is generally not affected by the risk of price rise and fall. Futures are bought and sold. It's more like trading, where both buyers and sellers are there, but they just have to bear the possible price rise and fall. Only brokers can say that futures are speculative spot.
Therefore, I suggest you evaluate your ability. If you have a little of these three points, I suggest you make them in stock. If you are calm and objective, able to withstand pressure and have enough spare money to invest, you can try to invest in futures. Remember, it is investment. Not speculation. Because the long-term trend of futures is affected by the spot, it is easier to see that novices may not lose money for a long time; Short-term days are more affected by funds, and the banker's control is obvious. It is very difficult to do short-term.