First, the objects of the transaction are different. The scope of spot trading includes all commodities; The object of futures trading is the standardized contract formulated by the exchange. The second is that the purpose of the transaction is different. In spot trading, the buyer is to obtain goods; The seller is to sell the goods and realize their value. The purpose of futures trading is to transfer price risk or profit from speculation. The third is the different transaction procedures. In spot trading, the seller can only sell the goods, and the buyer can only buy them by paying cash. This is the trading procedure of spot trading. Futures trading can reverse the procedure of spot trading, that is, you can sell without goods and buy without goods. The fourth is that the guarantee system of the transaction is different. Spot trading is protected by contract law and other laws. If the contract cannot be performed, it shall be settled by law or arbitration. The basis of futures trading is the margin system to ensure the performance of traders. The futures exchange provides settlement and delivery services and performance guarantees for both parties to the transaction. Fifth, the trading methods are different. Spot trading is the trading activity of actual goods. The transaction process is synchronized with the transfer of commodity ownership. Futures trading is the buying and selling of various commodity futures contracts, and the object is not a specific physical object, but a unified "standard contract", that is, futures contracts. The whole transaction process only reflects the buying and selling relationship of commodity ownership, and does not really transfer the ownership of commodities. No matter how many times it is bought and sold, only the last holder has the obligation to perform physical delivery. Others just need to reverse the transaction before the contract expires, settle the original transaction and settle the bid-ask difference. In addition, spot trading activities can be carried out anytime and anywhere, and the specific transaction content is agreed by both parties through consultation, which has strong flexibility. Futures trading must be conducted in a standardized market in an open, fair and just manner according to law. In the transaction, the buyer and the seller do not meet each other, and there is no personal relationship between them.

I hope it helps.