Futures speculation is very similar to the stock market, but there are also obvious differences.
1. Large-cap stocks are fully traded, that is, you can only buy as many stocks as you have money, while the futures system is a margin system, that is, you can trade 100% only by paying 5% to 10% of the turnover.
2. Two-way trading stocks are one-way trading. You can only buy stocks first and then sell them. Futures can be bought first and then sold, which is a two-way transaction, and bear market can also make money.
3. Futures trading is generally a commodity, and the fundamentals are relatively transparent. The number of contracts signed is theoretically infinite, and the trend is relatively stable, which is not easy to manipulate. The number of stocks is limited, the fundamentals are opaque, and it is easy to be manipulated by bad bookmakers.
4. The price of futures is relatively small. When the board stops trading three times in a row in one direction, the exchange can arrange for customers who want to stop losses to close their positions. The price limit is 10%.
5. Due to the restrictions of margin system, additional margin system and forced liquidation at maturity, futures are characterized by high returns and high risks.