Futures is a contract that must be performed in the future, and the delivery time must be determined; Futures contracts have an expiration date and cannot be held indefinitely; Silver can be held indefinitely.

Domestic futures are regional markets; Silver is an international market.

Judging from the trading time, futures trading is 4 hours and silver trading is 24 hours.

Market makers are different from exchanges: futures trading is generally concentrated in futures exchanges; Spot silver is a market maker mechanism.

Futures is the price formed by centralized bidding of all traders in the exchange: the price of spot silver is quoted by silver market makers.

Whether the trading object is a specific futures trading object is not specific, and any investor who makes a reverse trading order on the exchange may be its trading object; Spot silver is traded with a fixed silver market maker.

The main reason why the risk of futures trading is so great is that futures trading has a delivery period limit. Because futures trading must be delivered on the maturity date, for speculators (speculators who aim at making profits from the price difference), if the futures contract price in their hands is close to the futures delivery date, investors must close their positions, although they are in a state of loss (even huge losses), and spot silver is a spot transaction with no delivery period limit, so investors can hold warehouse receipts for a long time.